Market Size of Safflower Seeds Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Fastest Growing Market
|Middle-East and Africa
*Disclaimer: Major Players sorted in no particular order
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Safflower Seeds Market Analysis
The safflower seeds market is projected to reach a CAGR of 5.7% over the forecast period (2020-2025). The global safflower oil consumption is growing rapidly, mainly as a result of the rising health consciousness among consumers across the world. Safflower oil is a popular cooking oil that comes from the seeds of the safflower plant. According to the Food and Agriculture Organization (FAO), Kazakhstan, India, the United States of America, Mexico, Argentina, and Australia are the primary producers of safflower seed mainly for oil extraction rotational crops along with rice, wheat, and corn. According to FAO, Kazakhstan produced safflower seeds of 214149 tonnes in 2018 up from 167243 tonnes in 2016. Safflower seed production in Kazakhstan exceeded the figures recorded by the second-largest producer, the U.S. (107220 tonnes, 2018), threefold. California is the primary producer of safflower seeds in the united states, accounting for 50% of the production. Safflower seed is a drought-tolerant oilseed, with Lower production inputs, easy adaptability to various soil types, effective in crop rotation, effective weed and disease controller, Lower risk of production, ease of harvesting and storage are some of the factors driving the demand for safflower seed across the globe.