Market Size of Sunflower Oil Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 35.98 Billion |
| Market Size (2029) | USD 48.26 Billion |
| CAGR (2024 - 2029) | 6.05 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sunflower Oil Market Analysis
The Sunflower Oil Market size is estimated at USD 35.98 billion in 2024, and is expected to reach USD 48.26 billion by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).
- The Global Sunflower Oil Market was valued at USD 31,990.2 million in the current year. Post-pandemic, global consumption saw an inclination toward healthy eating, creating a demand for sunflower oil, considered healthy among edible oils. Consequently, it led to an increase in the cultivated area with sunflowers and an increase in the price of sowing seeds.
- The sunflower seed market (seeds for sowing) witnessed unprecedented vertical growth in recent years. Sunflower oil has high demand in developing countries, as it is healthy and cheaper than most of its counterparts. The increasing sunflower oil consumption offset the global decline in palm, cottonseed, and rapeseed oil.
- The application of sunflower oil is highly witnessed in the personal care segment. Sunflower oil is expected to be in high demand among cosmetic makers, in addition to its use in the healthcare industry. Increased demand for sunscreen, facial masks, and eye treatments would favorably contribute to sunflower oil's global market growth throughout the forecasted period. Furthermore, the global sunflower oil market is predicted to be driven by a growing demand for chemical-free oil personal care products among cosmetic users.
- Hence, manufacturers are launching new products to address the growing demand for chemical-free products. For instance, in April 2022, Keys Soulcare, the company of US singer-songwriter, producer, and actress Alicia Keys, unveiled its new offering of products that nourish the skin with light washes of buildable color. Dr. Renée Snyder, a board-certified dermatologist, collaborated on developing these products, which include comforting tinted lip balms, sheer flush cheek tint, soft stay brow gel, and a natural flush complexion brush which are made with natural ingredients such as avocado oil, camellia seed, sunflower, safflower seed oils and others.
