Global Sunflower Oil Market 2017-2021
About Sunflower Oil
Sunflower oil is a vegetable oil that is a combination of monounsaturated and polyunsaturated fats, with low saturated fat levels. This non-volatile oil is extracted from sunflower seeds. This vegetable oil has become popular among consumers owing to its light color and high smoke points. The nutritional composition of sunflower oil makes it ideal for food and industrial applications. In addition to this, the negative perception about palm oil has also helped increase the sunflower oil demand in regions like North America (especially the US) and Western Europe. Due to its popularity as an edible oil, sunflower oil accounts for more than 75% of the revenue from sunflower crops.
Technavio’s analysts forecast the global sunflower oil market to grow at a CAGR of 4.72% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sunflower oil market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sunflower Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global sunflower oil market: Archer Daniels Midland, Cargill, Conagra Brands, and Oliyar
Other Prominent Vendors in the market are: Adani Wilmar, Colorado Mills, Emami Agrotech , GEF India, InterNatural Foods, Kaleesuwari Refinery, Macjerry Sunfloweroil, Mother Dairy Fruit & Vegetable, Patanjali Ayurved, Pure & Sure, Ruchi Soya Industries, SC TAF Presoil, Vimal Oil & Foods, and Vitamin King.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing demand for organic sunflower oil. With growing awareness about the negative effects of synthetic products on human health and the environment, most informed consumers have started looking for organic products. This scenario can be seen across the board and applies to the oil segment as well. Organic foods are often perceived as healthy and are gaining traction in the market as consumers are becoming increasingly concerned about the origin and quality of the ingredients that are used in manufacturing the food products.”
According to the report, one of the major drivers for this market is Lowers cholesterol levels. Cholesterol issues are becoming increasingly common among consumers, which often increase the risks of heart disease and stroke. Owing to the cholesterol-reducing property of sunflower oil, it is becoming popular among consumers; the balance of fatty acids in the oil helps in lowering the cholesterol levels.
Further, the report states that one of the major factors hindering the growth of this market is Sunflower oil is increasingly facing competition from other healthy oils like olive oil and rice bran oil. Though olive oil is expensive, the demand for this vegetable oil is increasing on a year-over-year basis as it is rich in antioxidants and monounsaturated fats, has strong anti-inflammable properties, prevents heart disease, and others. In mature markets like the US, Southeast Asia, and Western Europe, consumers increasing prefer healthier variants of vegetable oil such as extra virgin olive oil. In developing countries like China and India, olive oil is slowly being adopted as a mainstream oil used for cooking purposes by many consumers.
Archer Daniels Midland, Cargill, Conagra Brands, Oliyar, Adani Wilmar, Colorado Mills, Emami Agrotech , GEF India, InterNatural Foods, Kaleesuwari Refinery, Macjerry Sunfloweroil, Mother Dairy Fruit & Vegetable, Patanjali Ayurved, Pure & Sure, Ruchi Soya Industries, SC TAF Presoil, Vimal Oil & Foods, and Vitamin King.