Sunflower Oil Market Size, Share, Trends, Growth and Forecast 2032

Sunflower Oil Industry Prospective:

The global sunflower oil market size was evaluated at $22 billion in 2023 and is slated to hit $38 billion by the end of 2032 with a CAGR of nearly 6% between 2024 and 2032. 

Request Free Sample  

Sunflower Oil Market: Overview

Sunflower oil is extracted from sunflower plant seeds and is extensively utilized for the purpose of cooking. Reportedly, it possesses high nutritive value, as well as linoleic acid and oleic acid. Moreover, it is the most preferred and used in a spectrum of culinary applications. It has proved effective in skin care, heart health, and is the best source of vitamin E.

Key Insights

• As per the analysis shared by our research analyst, the global sunflower oil market is projected to expand annually at the annual growth rate of around 6% over the forecast timespan (2024-2032)
• In terms of revenue, the global sunflower oil market size was evaluated at nearly $22 billion in 2023 and is expected to reach $38 billion by 2032.
• The global sunflower oil market is anticipated to grow rapidly over the forecast timeline owing to humungous demand for plant-based items along with supportive government policies.
• In terms of type, the high-oleic oil segment is slated to register the highest CAGR over the forecast period.
• Based on application, the food & beverages segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Based on end-user, the household segment is likely to lead the global market growth in the ensuing years.
• On the basis of distribution channel, the supermarkets & hypermarkets segment is likely to account majorly towards the global market proceeds in the upcoming years.
• Region-wise, the Asia-Pacific sunflower oil industry is projected to register the fastest CAGR during the assessment timespan.

Sunflower Oil Market: Growth Factors

Thriving food segment and beneficial properties to drive the global market expansion over 2024-2032

Focus on accruing health benefits along with the anti-inflammatory features of product will bolster the global sunflower oil market surge in the years ahead.

Moreover, the flourishing food processing sector is expected to proliferate the expansion of the global market in the years ahead. Humungous demand for plant-based items, along with supportive government policies, is likely to augment the rapid surge in the market expansion in the upcoming years.

Furthermore, surging urbanization and an increase in the population explosion in urban areas is likely to drive the market progression across the globe. Apparently, a prominent increment in the intake of healthy oils along with their use in personal care items will prompt the global market surge in the coming years.

Sunflower Oil Market: Restraints

High raw material prices can restrict the global industry surge in the forecast timeframe

Oscillations in the raw material prices and tough competition from substitute products can retard the global sunflower oil industry in the upcoming years. Apart from this, supply chain disruptions can restrict global industry expansion in the ensuing years. Geopolitical aspects can further depreciate the global industry surge in the years ahead.

Sunflower Oil Market: Opportunities

Growing product consumption globally will open new growth avenues for the global market

An increase in the use of sunflower oil as a feedstock for the manufacture of biodiesel as a result of its huge oil content is likely to elevate the demand for the product. This, in turn, will open new growth facets for the global sunflower oil market. Furthermore, surging health & wellness trends are predicted to scale up the market surge in the ensuing years. Rapidly expanding food service sector will embellish the market expansion in the years to come.

Sunflower Oil Market: Challenges

Stringent legislation and less awareness about the product benefits can decimate the global industry surge by 2032

Global conflicts such as Russia-Ukraine conflicts and climatic changes can severely impact the production and export of sunflower oil, thereby challenging the global sunflower oil industry surge in the ensuing years. Strict laws and low brand awareness in some countries can prove detrimental to global industry expansion.

Sunflower Oil Market: Segmentation

The global sunflower oil market is divided into type, application, end-user, distribution channel, and region.                                             

In terms of type, the sunflower oil market across the globe is segmented into linoleic oil, high-oleic oil, and mid-oleic oil segments. Apparently, the high-oleic oil segment, which gathered nearly 62% of the global market earnings in 2023, is expected to record the fastest CAGR in the coming eight years owing to a large number of health benefits provided by high-oleic oil that include reducing bad cholesterol leading to minimizing of the heart disorder risks.

Additionally, awareness of the health advantages offered by mono-unsaturated fats, along with large-scale consumption of healthy cooking oils, will steer the segmental surge.   

Based on the application, the global sunflower oil industry is divided into food & beverages, personal care & cosmetics, pharmaceuticals, and biofuel segments. Apparently, the food & beverages segment, which dominated the global industry size in 2023, is anticipated to account majorly towards the segmental surge in the analysis timeline, and this can be a result of a rise in the use of sunflower oil in cooking, baking, and frying activities.

On the basis of end-user, the global sunflower oil industry is bifurcated into household, personal care & cosmetics, food service, biofuel, and food processing segments. Moreover, the household segment, which led the global market share in 2023, is likely to lead the global market growth in the forecast timeline.

The segmental surge in the coming eight years can be due to an increase in the customer tilt towards the use of healthy cooking oils such as sunflower oil in baking, frying, and cooking activities.

Based on the distribution channel, the sunflower oil market across the globe is sectored into direct sales, supermarkets & hypermarkets, and online retail segments. Furthermore, the supermarkets & hypermarkets segment, which accounted lucratively towards the global industry proceeds in 2023, is expected to contribute humungously towards the segmental surge in the forthcoming years. The segmental surge can be ascribed to easy access to the product in supermarket & hypermarket stores.

Sunflower Oil Market: Report Scope

Sunflower Oil Market: Regional Insights

Europe is likely to maintain leading status in the global market over the analysis period

Europe, which accounted for about 61% of the global sunflower oil market size in 2023, is predicted to establish a leading position in the global market in the forecasting timeline. Furthermore, the regional market upsurge in the coming decade can be a result of large-scale consumption of sunflower oil for cooking purposes.

For the record, Ukraine and Russia are major cultivators and producers of sunflower seeds, which ensure a steady supply of the raw components used for the production of sunflower oil, thereby driving regional market trends.

Asia-Pacific sunflower oil industry is expected to register the fastest compound growth rate yearly in the forecasting timeline. The elevation of the industry in the Asia-Pacific zone can be a result of surging health awareness among the Asian population.

An increasing middle-income group population in India and China preferring premium products will boost the industry surge in the APAC zone. Changing food habits has provided impetus to the expansion of the regional industry.

Sunflower Oil Market: Competitive Space

The global sunflower oil market profiles key players such as:

• Ruchi Soya Industries
• Risoil SA
• Archer Daniels Midland Company
• Abu Dhabi Vegetable Oil Company
• Conagra Brands Inc.
• Cargill Inc.
• Bunge Limited
• Hanoon Oil Factory
• Avril Group
• Kaissa Oil
• Louis Dreyfus Company
• Wilmar International
• Optimusagro Trade LLC

The global sunflower oil market is segmented as follows:

By Type

• Linoleic Oil
• High-Oleic Oil
• Mid-Oleic Oil

By Application

• Food & Beverages
• Personal Care & Cosmetics
•  Pharmaceuticals
• Biofuel

By End-User

• Household
• Personal Care & Cosmetics
• Food Service
• Biofuel
• Food Processing

By Distribution Channel

• Direct Sales
• Supermarkets & Hypermarkets
• Online Retail

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa