PUBLISHER: Orion Market Research | PRODUCT CODE: 1215629
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215629
Title:Global Sunflower Oil Market Size, Share & Trends Analysis Report by Type (Linoleic, Mid-Oleic, and High-Oleic), and by End-User (Foodservice, Household, Biofuels, Personal Care, and Industrial) Forecast Period (2022-2028).
The global sunflower oil market is anticipated to grow at a substantial CAGR of 6.7% during the forecast period. During the projected period, the sunflower oil market is expected to be primarily driven by various health benefits associated with sunflower oil. It contains lipids and vitamins (E and K) which improve heart & skin health, prevent arthritis, asthma & cancer, improve the immune system, and others. Additionally, sunflower oil is rich in linoleic acid (a polyunsaturated omega-6 fatty acid) and has favorable outcomes on blood lipids and factor VIIc (coagulant activity). It also contains oleic acids but has a relatively low amount of omega-3 fatty acids.
The global sunflower oil market is segmented based on type and end-user. Based on the type, the market is segmented into linoleic, mid-oleic, and high-oleic. Based on the end-user, the market is sub-segmented into foodservice, household, biofuels, personal care, and industrial. Among the end-users, the personal care segment is expected to witness significant growth in the market across the globe, owing to the rising use of sunflower oil in developing cosmetics products by key personal care product manufacturers. For instance, in April 2019, L'Oreal launched a sustainable beauty brand, Seed Phytonutrients, consisting of sunflower seed oil.
Geographically, the global sunflower oil market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is expected to hold a prominent share during the forecast period owing to rising consumption, application, and demand for sunflower oil in the region. Ukraine is the largest producer of sunflower seed and sunflower oil across the globe, followed by Russia. According to Oil World, around 11.4 million MT of sunflower seed was produced by Russia in 2019, owing to higher demand from the domestic processing sector. Moreover, the country is continuously expanding its production of sunflower oil. For instance, in 2019, the government of Russia increased the production of sunflower oil by 23%, which is the major factor to drive regional growth.
The major companies serving the global sunflower oil market include Archer Daniels Midland Co., AVRIL SCA, Bunge Ltd., Cargill Inc., KAISSA, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2019, EFKO, a Russian vegetable oil maker, and United Oil, an Egyptian oil company, partnered up to manufacture vegetable oils including sunflower, soybean, and groundnut oils.
Research Methodology
The market study of the global sunflower oil market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try tfo contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: