Sunflower is native to North America and belongs to family Asteraceae. The oil derived from sunflower is used for cooking and frying purpose globally. Sunflower oil is rich in oleic acid, linoleic acid and other nutrients which helps in lowering bad cholesterol and increases good cholesterol in blood. The seed contains 40-45% oil, two other types of sunflower oil are also available high oleic and mid oleic based on the oleic content present in oil after extraction. Sunflower oil contains high content of vitamin E and is low in saturated fats along with these properties it also contains tocopherols, carotenoids and waxes. Sunflower is good for health and it is being used for cooking and frying in industries and food manufacturing services.
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Global Sunflower Oil: Market Segmentation
The global sunflower oil market is segmented on the basis of application, end user, distribution channel and region. The sunflower oil market is segmented on the basis of application such as food, pharmaceuticals and cosmetics. The sunflower oil market in food segment is further segmented as bakery, confectionery and convenience food. In cosmetics sunflower is used as emollient as it contains high vitamin E content, it helps in softening dry skin. In pharmaceuticals sunflower oil is used as carrier for active ingredient in soft gelatin capsules and in production of salves and creams. Sunflower oil has longer shelf life which is an ideal condition for manufacturing cosmetic products and helps in protecting skin and has healing properties when applied to bruises on skin and other skin conditions. The sunflower oil market is segmented on the basis of end user can be segmented as industrial, food services and household. The sunflower oil market is segmented on the basis of distribution channel as supermarket/hypermarket, retails stores and online stores. Hence, the global sunflower oil market is expected to have robust growth over the forecast period owing to increasing population and increasing demand for fried food products.
Global Sunflower Oil Market: Regional Outlook
The global sunflower oil market is geographically divided in key regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa. Globally Asia Pacific and Eastern Europe are expected to get highest growth in terms of production and consumption due to increasing population and rising demand for sunflower oil due to its health benefits. Countries such as China and India in Asia Pacific region produce and export sunflower oil majorly to North America, Eastern Europe, Western Europe and Middle East. Industrial utilization coupled with household use of sunflower oil is strengthening the growth of the sunflower oil market in terms of revenue contribution over the forecast period.
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Global Sunflower Oil Market: Growth Drivers
The sunflower oil market is driven by the factors such as utilization of the sunflower oil for frying food products such as bakery products, confectionery and for cooking food. There is increase in demand for the sunflower oil as it is good for heart, skin and keeps bad cholesterol under check which is also fuelling the sunflower oil market. Sunflower oil is also being used in manufacturing cosmetic products for protecting, moisturizing and recovery of skin from bruises and other skin problems. In pharmaceuticals sunflower oil is used in the production active ingredient carrier and production of creams and gel for fast absorbance, it is expected to increase the demand of the sunflower oil globally. These factors are expected to fuel the growth of the global sunflower oil market during the forecast period.
Global Sunflower Oil Market: Key Players
Some of the key players identified across the value chain of the global sunflower oil market includes Archer Daniels Midland Company, Cargill Incorporated, Colorado Mills, CHS Inc., Oliyar Production Company, Delizio, Mcjerry sunfloweroil, PPB Group Berhad, ConAgra Foods, Inc, Marico and Rein Oil CC. The companies are expected to expand their business by enhancing their product portfolio in global sunflower oil market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global sunflower oil market till 2025.
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