Market Snapshot
| Study Period: | 2017-2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | Africa |
| Largest Market: | Asia Pacific |
| CAGR: | 4.4 % |
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Market Overview
The sunflower seed market (seeds for sowing) is projected to register a CAGR of 4.4% during the forecast period (2022-2027).
Despite the prevailing COVID-19 situations, global consumption has seen an inclination toward healthy eating, which has created a demand for sunflower oils as it is considered healthy among the edible oils. Therefore, it resulted in an increased area under the production of sunflowers and an increase in the price of sowing seeds. The sunflower seed market (seeds for sowing) has witnessed unprecedented vertical growth in recent years. The market for sunflower seeds used for sowing purposes forms a small part of the sunflower seed commodity industry and accounts for only 2% of the market share.
Since sunflower is an oilseed crop, the maintenance of seed vigor and viability during storage pose a severe problem, which is slightly hindering the growth of the market. However, hybrid seeds are gaining traction as they can be stored for up to 10 months, provided the seeds are not infected by storage pests. Therefore, an appropriate storing mechanism with controlled environmental conditions should be available to maintain the quality of seeds for a longer period of time.
Scope of the Report
Sunflower seeds are technically the fruits of the sunflower plant (Helianthus annuus). The sunflower seed market (seeds for sowing) is segmented by type (open-pollinated and hybrids) and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts for sunflower seeds in terms of value (USD million) for all the above segments.
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Key Market Trends
Increase in Area under Cultivation
According to FAO, the cultivation of sunflower crops increased by 3.81% across the globe during the period, 2017-2020, and it is estimated to increase continuously during the forecast period. The major factors for the increase in crop area are increasing demand for sunflower crops in the European and Asia-Pacific regions, increasing demand for vegetable oil, high prices for sunflower crops, and low cost of sunflower seeds. The production of sunflowers has increased by 3.3% during the period 2017-2020, accounting for 50.2 million tons in 2020. The increase in production eventually increases the demand for the seeds for sowing. The growing applications of sunflower seeds are also a reason for the growth in crop production. The health benefits of sunflower seeds and sunflower oil like lowering the risk of high blood pressure or heart disease are attributed to the increase in consumption of the seeds and oil, which in turn drove the production. According to USDA, the global consumption of sunflower products was 56.60 million metric tonnes in the year 2021/2022. The increasing area of sunflower crops and increasing demand for vegetable oil are driving the growth of the sunflower seed market for sowing purposes.
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Increasing Sunflower Seed Production in the European Region
According to the FAO, in 2020 sunflowers are grown on 19.3 million hectares in Europe and are used for food, feed, fuel, and industrial purposes. About 80% of the sunflower seed production within the region is used for domestic consumption, out of which 90% is used for crushing, while the rest is used for bird feed and confectionary making. According to USDA, sunflower seed production in Europe accounted for 537 thousand metric tonnes in 2020/2021 and domestic consumption accounted for 2916 thousand metric tonnes. Countries such as Italy, Portugal, Germany, Austria, Croatia, and the Czech Republic have experienced growth in sunflower plantings in the past few years. The demand for sunflower meals is expected to be lower than usual due to less crush and availability. However, the demand is still stable due to projected better competitiveness compared to rapeseed meals. Thus, the market is anticipated to record healthy growth over the forecast period, owing to the rising demand for sunflower oil and other sunflower-based processed foods.
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Competitive Landscape
The sunflower seed market is a fragmented market with the presence of various small and large players. Advanta Seeds, Sakata, Nuzhiveedu seeds, Syngenta, Corteva Agriscience, and Groupe Limagrain are some of the players operating in the market. Companies are adopting strategies such as forming joint ventures and agreements to exploit the current sunflower seed demand.
Recent Developments
In 2021, Pannar seeds, the subsidiary of Corteva Agriscience, introduced a new hybrid sunflower variety, PAN 7170. PAN 7170 is agronomically similar to PAN 7100 but is slightly quicker flowering and has better Alternaria tolerance.
In 2020, Syngenta Seeds completed the acquisition of Seenasko. It is a leading South African R&D seeds company with a strong wheat market position. This acquisition is anticipated to accelerate Syngenta Seeds’ entry into the South African seeds market.
In 2019, the seed specialist KWS SAAT SE acquired Pop Vriend Seeds, a Dutch company. It is a market leader in spinach seeds and offers a promising portfolio of other vegetable seeds. This acquisition is expected to strengthen the future turnover and result of KWS.
In 2019, BASF SE entered the sunflower seed market. To enter the sunflower seed market and complement its existing portfolio for sunflower, BASF has signed a distribution agreement with Euralis Semences.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitute Products
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Open Pollinated
5.1.2 Hybrids
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Rest of North America
5.2.2 Europe
5.2.2.1 Ukraine
5.2.2.2 Russia
5.2.2.3 Turkey
5.2.2.4 France
5.2.2.5 Germany
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 Australia
5.2.3.2 China
5.2.3.3 India
5.2.3.4 Japan
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Argentina
5.2.4.2 Brazil
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 South Africa
5.2.5.2 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 UPL Limited
6.3.2 Sakata
6.3.3 ChemChina Corporation (Syngenta)
6.3.4 Corteva Agriscience
6.3.5 Groupe Limagrain
6.3.6 KWS AG
6.3.7 Takii & Co. Ltd
6.3.8 Nuziveedu Seeds
6.3.9 BASF SE
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Sunflower Seed Market (Seeds for Sowing) market is studied from 2017 - 2027.
What is the growth rate of Sunflower Seed Market (Seeds for Sowing)?
The Sunflower Seed Market (Seeds for Sowing) is growing at a CAGR of 4.4% over the next 5 years.
Which region has highest growth rate in Sunflower Seed Market (Seeds for Sowing)?
Africa is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Sunflower Seed Market (Seeds for Sowing)?
Asia Pacific holds highest share in 2021.
Who are the key players in Sunflower Seed Market (Seeds for Sowing)?
Groupe Limagrain, Syngenta AG, Nuziveedu Seeds, Corteva Agriscience, Advanta Seeds (UPL Ltd) are the major companies operating in Sunflower Seed Market (Seeds for Sowing).
