Global Sunflower Oil Market Outlook - Forecast Trends, Market Size, Share and Growth Analysis Report (2024-2032)

Global Sunflower Oil Market Size

The global sunflower oil market reached USD 23.48 billion in 2023. The market is projected to grow at a CAGR of 5.8% between 2024 and 2032 to reach USD 39.00 billion by 2032.

Global Sunflower Oil Market Outlook

• Sunflower oil constitutes 9% of overall vegetable oil production globally.

• Sunflower oil is among the top four vegetable oils consumed and produced globally.

• High-oleic sunflower oil is expected to dominate the demand over the forecast period.

Global Sunflower Oil Market Growth

In 2023-24, the production of sunflower oil in Russia is expected to reach 7.55 million tons, recording a seasonal surge of 13.5%. The depreciation of the Russian currency (rouble) against the US dollar by 38% is expected to make Russia’s exports more lucrative for other countries, which is expected to reach 4.59 million tons, recording a year-on-year surge of 14.3%. Turkey has emerged as a significant importer of sunflower oil.

The United States Department of Agriculture estimates sun oil production in Ukraine and the European Union to rise steadily. The devaluation of Ukraine’s currency against the US dollar by 27% is expected to drive its exports of sunflower oil.

As per the Solvent Extraction Association, India’s imports of sunflower oil surged by nearly 27% between September and December of 2023-24 as compared to the same season in 2022-23. It imported over 250,000 tons of oil in December, with overall imports reaching over 840,000 tons.

Increasing health consciousness among consumers has prompted a shift towards the consumption of vegetable oils, which is expected to drive the demand for sunflower oils over the forecast period. Sunflower oil is rich in vitamin E, which is an important antioxidant and enhances bodily immunity. When substituted with saturated fats in the human diet, the linoleic acid content of sunflower oil helps in reducing the risk of cardiovascular diseases.

Global Sunflower Oil Industry Segmentation

Global Sunflower Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Linoleic Oil

• Mid-Oleic Oil

• High-Oleic Oil

Market Breakup by Product Type

• Processed

• Virgin

Market Breakup by End Use

• Food Services

• Retail

• Household

• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channel

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Sunflower Oil Market Share

Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-2032, Europe is assessed to grow at a CAGR of 6.3% due to the growing preference for sunflower oil as cooking oil in countries like Spain, the Netherlands, and Italy.

Leading Companies in the Global Sunflower Oil Market

Major sunflower oil-producing companies are expected to increase the production of virgin sunflower oil, which retains much of its natural properties and has positive effects on human health.

• Cargill Incorporated

• Archer Daniels Midland Company

• Bunge Limited

• Louis Dreyfus Company B.V.

• Wilmar International Ltd.

• Kernel Holding S.A.

• EFKO Group

• OPTIMUS AGRO

• Adams Group

• Colorado Mills

• Others

Key Highlights of the Report