Sunflower Oil Market | Emerging Audience and Forecast to 2024
Market Overview
As the name suggests, sunflower oil is derived from sunflower, which is used globally for frying and cooking. This oil is a rich source of various nutrients while improving cholesterol levels and reducing health concerns. Sunflower oils have a cutting edge over other cheap oils due to its benefits. As the global population rises, the demand for sunflower oil is increasing due to heavy demands for food items and cooking practices. Also, rising awareness about health is among the primary factors empowering this market. With the rapid expansion of the food industry globally, sunflower demands are also surging and providing maximum opportunities for this market.
The companies are moving to the regions with abundant sources, which helps them generate greater revenues and, at the same time, meet the rising global demands. Manufacturers are aiming all sectors of the society, for which they are regularly working towards introducing new products and creating all types of packaging sizes for broad adoption. Apart from cooking, the sunflower oil is also used in manufacturing cosmetics and medicines, adding to the tally of this market. This market faces severe challenges from other oils and is decreasing the growth pace of the sunflower oil sector. This report comprises details about competitive landscapes, changes, drivers & restraints, and other prime aspects of local and global market analysis to better understand market trends. The global sunflower oil market is anticipated to show around a 05 % annual growth rate during the survey.
Industry News
Global sunflower oil has gained a decent pace in recent times due to increasing healthcare awareness and consciousness. The companies are moving to regions with abundant raw materials to meet global demands and generate great revenues. The European and Asia Pacific region will file the highest growth rates. The linoleic acid category is expected to govern the market.
Key Players
Prominent players in theGlobal Sunflower Oil Market include Cargill, Incorporated (US), Bunge Limited (US), Kernel Holding S.A. (Ukraine), Adani Wilmar Limited (India), MHP SE (Ukraine), Shandong Luhua Group Co., Ltd (China), NMGK Group (Russia), Pology OEP PJSC (Ukraine), Adams Group (US), NT Ltd (Hungary), EFKO Group (Russia), Aston JSC (Russia), OptimusAgro Corporate Group (Russia), Delizio (Belgium), Dicle Group (Turkey), Tanoni SA (Turkey), Risoil S.A. (Switzerland), and Oliyar (Ukraine).
Market Breakdown
Global Sunflower Oil Market is segmented into several categories mentioned below:
Based on applications, the sunflower oil market is segmented into food, cosmetics, pharmaceuticals, and others.
The global sunflower oil market is characterized by food, household, and industrial uses based on end-users.
The global sunflower oil market is divided among the offline and online portals based on the supply mediums.
Regional Classification
Sunflower oil has gained global adoption worldwide due to increasing demands for better food products and fast expansion of the food industry globally and is getting stronger with time. North America, The Asia Pacific, Europe, and the rest of the world are the major regions observed for the global sunflower oil market. In the current era, the European region is leading the market due to a well-established food industry, vast population, increasing research & development activities, demands for healthy alternates, and other factors. Asia Pacific region will also register considerable growth rates due to the vast population, demands for healthy products, and rapid expansion of the food industry. In this region, India and China are the major stakeholders in terms of production and consumption.
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