Sunflower Oil Market research : Industry Trends, Analysis, Types, Growth, Opportunity and Forecast to 2030
With the presence of various oil options at
the grocery store, it can be a difficult decision to choose one. We are aware
of multiple healthy oils, but we may not be well acquainted with sunflower oil.
The oil is used as cooking oil as well as a medicine. Sunflower oil is
primarily used to fight cholesterol and to prevent heart-related ailments.
Further, the oil is also known for its high smoke point, which is why it is
gaining prominence as a frying oil.
The sunflower
oil market research is projected to grow from USD 16.7 billion in 2022
to USD 23.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of
5.00% during the forecast period (2022 - 2030).
Sunflowers are more than beautiful yellow
flowers that offer you a fascinating sight to see. These flowers contain ample
nutrition that is beneficial for the skin. The sunflower oil trade is expanding
since the oil is being used as a natural skincare ingredient for hundreds of
years across the world. The oil consists of Vitamin E & K, which are
advantageous in maintaining radiant skin. The oil fights acne, prevents
wrinkles, and acts as a natural skin moisturizer. Therefore, the product is
gaining popularity among women. Also, there has been a rise in demand for
organic beauty products, which will aid in boosting the sunflower oil industry.
Many of us are yet not aware of why
sunflower oil is a better choice than other cooking oils. Sunflower oil is very
nutrient-dense. If consumed as a part of a balanced diet, it may prove to be
beneficial for the human body. Hence, the oil is gaining importance among the
growing health-conscious population, thereby benefitting the market. Besides,
the low price and exceptional health benefits are expected to augment its
demand, especially in developing countries. And, the fluctuating prices of its’
competitors like soya bean, groundnut oil, and others will further aid in
boosting the sunflower industry.
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Innovation and novelty factor keeps
consumers engaged and curious. Likewise, the increasing number of new sunflower
oil product launches by various key players is expected to grow the market. The
oil is available in one-liter, three-liter, five-liter, ten-liter, and
twenty-liter packs that can attract consumers by providing various options,
which increases sales significantly. Also, the growing concern towards the
environment has resulted in opting for eco-friendly and chemical-free methods
that can enhance its importance in the coming period and augment the revenue of
the sunflower oil industry.
Partnerships, joint ventures, and the
growing interaction between various players have always significantly
strengthened markets. The industry is expected to actuate in the coming period
owing to the increasing initiatives to expand the commercial sunflower trade.
For example, the first Cornish sunflower oil was produced in December 2020,
which just hit the shelves of local retailers. The crop was a joint venture
between Cornish farmer Nick Dymond and Jack Baines of Hard Pressed Cornwall, an
artisan cooking oil producer based at Carnon Downs, England. The sunflowers
were grown without chemicals. The on-going research and attempts to explore
eco-friendly methods are likely to provide impetus to the sunflower oil market
growth during the assessment period.
The sunflower
oil market overview is a significant and dynamic segment of the global
edible oil industry. Renowned for its versatility, health benefits, and
widespread usage in culinary applications, sunflower oil remains a popular
choice among consumers. Its high smoke point makes it ideal for various cooking
methods, while its mild flavor caters to diverse cuisines. The market has
witnessed fluctuations in response to factors such as crop yields, weather
conditions, and shifting consumer preferences for healthier cooking
alternatives. Additionally, growing awareness of the oil's nutritional
advantages, including its high vitamin E content and potential heart-healthy
properties, has further influenced its demand. Market players, including
producers and processors, continue to innovate production techniques and
packaging to meet evolving consumer needs and to maintain a competitive edge in
this ever-evolving landscape.
Key Players are:
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