Sunflower Oil Market Summary
As per Market Research Future Analysis, the Global Sunflower Oil Market was valued at USD 15.9 billion in 2021 and is projected to grow from USD 16.7 billion in 2022 to USD 23.5 billion by 2030, with a CAGR of 5.00% during the forecast period. The market is driven by the increasing use of sunflower oil in various industries, particularly in food & beverages, and rising consumer awareness regarding health benefits. The production of sunflower oil is expected to reach 60 million tonnes by 2050, indicating a rise in per capita consumption. The market is also positively impacted by the growing demand for biodiesel derived from sunflower oil, as it is a sustainable energy source.
Key Market Trends & Highlights
Key trends driving the sunflower oil market include health awareness and biodiesel production.
- Sunflower oil market size in 2021: USD 15.9 billion.
- Projected market size by 2030: USD 23.5 billion.
- CAGR during 2022-2030: 5.00%.
- Production expected to reach 60 million tonnes by 2050.
Market Size & Forecast
2021 Market Size | USD 15.9 Billion |
2022 Market Size | USD 16.7 Billion |
2030 Market Size | USD 23.5 Billion |
CAGR (2022-2030) | 5.00% |
Major Players
Major players include Cargill Incorporated, Archer Daniels Midland Company, Bunge Ltd., Conagra Brands, Inc., and AAK AB.