Global Sunflower Oil Market Report 2024: Trends, Strategies, And Opportunities
Sunflower Oil Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, June 24, 2024 /EINPresswire.com/ -- The sunflower oil market, extracted from the seeds of the sunflower plant (Helianthus annuus), has witnessed robust growth, with the market size projected to increase from $25.12 billion in 2023 to $28.81 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.7%. This growth can be attributed to factors such as diversification of applications, availability, affordability, marketing efforts, and international trade.
Rising Popularity of Healthier Cooking Oils Drives Market Growth
The sunflower oil market is expected to continue its strong growth trajectory, reaching $35.26 billion by 2028, growing at a CAGR of 7.1%. This growth is driven by increasing population and urbanization, consumer preference for plant-based products, expansion in the food processing industry, demand for healthier cooking alternatives, and emphasis on sustainable sourcing and production practices.
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Sunflower Oil Market Key Players and Market Trends
Major companies such as Cargill Incorporated, Archer Daniels Midland Company, and Procter & Gamble (P&G) dominate the sunflower oil market. These companies focus on product innovation to enhance nutritional benefits and cater to evolving consumer preferences. For example, Bunge India Private Ltd. launched Fiona Refined Sunflower Oil enriched with essential vitamins A, D, E, and K, offering superior health benefits and versatility in cooking applications.
Technological Advancements and Industry Innovations
Trends shaping the sunflower oil market include a shift towards healthier oils, diversification of applications beyond cooking, premiumization of products, impacts of climate change on production, and ongoing product innovation to meet consumer demands.
Sunflower Oil Market Segments:
• Type: Linoleic Oil, Mid-oleic Oil, High-oleic Oil
• Distribution Channel: Online Channels, Supermarkets Or Hypermarkets, Convenience Stores
• Application: Cooking, Cosmetics, Personal Care, Others Applications
• End-User: Industrial, Food Services, Household
Geographical Insights: Europe Leading the Market
Europe emerged as the largest region in the sunflower oil market in 2023, driven by high consumption rates and a well-established food industry. Asia-Pacific is expected to be the fastest-growing region in the forecast period, fueled by increasing urbanization, rising disposable incomes, and shifting dietary preferences towards healthier cooking oils.
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Sunflower Oil Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sunflower Oil Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sunflower oil market size, sunflower oil market drivers and trends, sunflower oil market major players, competitors' revenues, market positioning, and market growth across geographies. The sunflower oil market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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