ID: MRFR/F-B & N/7320-CR | February 2020 | Region: Global | 100 pages
Market Research Future (MRFR) studied the Global Sunflower Oil Market 2020 through the review tenure by 2027. The sunflower oil market is expected to rise at a 5% CAGR by 2027. As per the MRFR study, the sunflower oil market can value at USD 22,150.2 Mn on the conclusion of the review period. The non-volatile oil pressed from sunflower (Helianthus annuus) seed is called sunflower oil. It is generally used as frying oil in food applications, and in emollient as cosmetic formulations.
The COVID 19 assessment for the global sunflower oil is detailed in the report. Acidulated sunflower oil feed, sunflower seed, vegetable oil, sunflower oil sprouts and coconut oil markets are studied along, under the impact analysis.
Large Scale Application of Sunflower Oil to Support Market Expansion
The large-scale application of sunflower oil across different sectors can support the market growth. The expanding food and beverage sector is reputed to be one of the high end-consumer of sunflower oil, which can boost the market expansion. In addition, the increase in demand for sunflower oil in food processing industry and construction sector can underpin the market upsurge in the near future. The rise in number of applications of sunflower oil in personal care and biofuel sector can support market growth in the years to come.
Expansion of Vegan Population to Favor Market
The growing demand for sunflower oil, especially among the vegan population, can favor the market expansion. The increase in preference for organic products can add to the market rise.
Availability of Substitute Products Can Hinder Market Growth
The increase in awareness about adverse effects of sunflower oil can pose challenge to the market growth. In addition, the easy availability of affordable substituents in the market and high cost of sunflower oil raw material can also hinder the sunflower oil industry market rise.
The linoleic acid segment can secure the maximum market share of the global world by 2024. The segment can rise at 4.79% CAGR through the forecast period. Linoleic acid is an essential fatty acid in human diet as linoleic sunflower oil contains about 70% polyunsaturated fat. The remaining consists of about 10% saturated fat and 20% monounsaturated fat. The growing utility of linoleic sunflower oil for frying across several hotels and restaurants can support expansion of the market through the review period. The rise in production of shortening and margarine is creating the demand for sunflower oil can favor the market rise. The mid-oleic acid can register the highest CAGR across the forecast period as the economical pricing of these products and the increase in awareness about different health benefits of trans fats can contribute to the segment growth. The mid-oleic sunflower oil is also observed to contribute to formulations of cosmetic as an emollient.
The food and beverage segment can secure the highest market share by 2024. The segment can surge at decent growth pace in the forecast period. The increase in application of sunflower oil for different food and beverage applications, especially in processed food products, such as; ready-to-cook products, bakery and confectionery, ready-to-eat, breakfast cereals, savory snacks, and salads dressings can contribute to the rise of the segment. The increase in consumption of bakery products can contribute to the rise of the segment across the globe. Bakery foods offer high convenience of consumption provide low-cost source of energy as they have high levels of fat and sugar, along with fruit or nuts. The increase in number of high-end bakeries can also boost the food & beverage segment growth.
Europe Sunflower Oil Market to Rise at High Pace
In Europe, the sunflower oil market can thrive in the forecast period by 2027. The regional market can acquire about 33.61% share of the global market. Germany, Italy, and France, are observed to earn high revenue for the expansion of EU market. Europe sunflower oil market can rise at 4.87% CAGR through the forecast period between 2019 and 2027. The increase in utility of sunflower oil as biofuel and their application in the production of personal care products can fuel the market upsurge in Europe.
APAC Market to Gain Substantial Profit
Asia Pacific market can hold substantial share of the global sunflower oil market as the consumption of sunflower oil in culinary is observed to increase. The extensive agriculture of sunflower plants in the region can benefit the market in the years to come.
MRFR recorded well-known players of the sunflower oil market. The competitive study of the sunflower oil market discusses financial status, market share analysis, and product benchmarking. Critical developments, plans, and strategic deployed by marketers to boost their business are elaborated in the report. Mergers & acquisitions, joint ventures, and product launches of these companies are discussed by MRFR analysts in detail. The report also shed light on numerous growth opportunities of the market and different contributions by such players to the regional rise of the sunflower oil market.
List of Key Companies Covered in this Report
The report of sunflower oil market published by MRFR encompasses all aspects of the market study. Market estimates and sizing for the sunflower oil market is explained in detail in this report through segment analysis. Dynamics of key players and regional trends of the market are elaborated in this report. Technological developments and innovations are discussed in detailed in the report.