Sunflower is native to North America and belongs to family Asteraceae. The oil derived from sunflower is used for cooking and frying purpose globally. Sunflower oil is rich in oleic acid, linoleic acid and other nutrients which helps in lowering bad cholesterol and increases good cholesterol in blood. The seed contains 40-45% oil, two other types of sunflower oil are also available high oleic and mid oleic based on the oleic content present in oil after extraction. Sunflower oil contains high content of vitamin E and is low in saturated fats along with these properties it also contains tocopherols, carotenoids and waxes. Sunflower is good for health and it is being used for cooking and frying in industries and food manufacturing services.
Global Sunflower Oil: Market Segmentation
The global sunflower oil market is segmented on the basis of application, end user, distribution channel and region. The sunflower oil market is segmented on the basis of application such as food, pharmaceuticals and cosmetics. The sunflower oil market in food segment is further segmented as bakery, confectionery and convenience food. In cosmetics sunflower is used as emollient as it contains high vitamin E content, it helps in softening dry skin. In pharmaceuticals sunflower oil is used as carrier for active ingredient in soft gelatin capsules and in production of salves and creams. Sunflower oil has longer shelf life which is an ideal condition for manufacturing cosmetic products and helps in protecting skin and has healing properties when applied to bruises on skin and other skin conditions. The sunflower oil market is segmented on the basis of end user can be segmented as industrial, food services and household. The sunflower oil market is segmented on the basis of distribution channel as supermarket/hypermarket, retails stores and online stores. Hence, the global sunflower oil market is expected to have robust growth over the forecast period owing to increasing population and increasing demand for fried food products.
Global Sunflower Oil Market: Regional Outlook
The global sunflower oil market is geographically divided in key regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East and Africa. Globally Asia Pacific and Eastern Europe are expected to get highest growth in terms of production and consumption due to increasing population and rising demand for sunflower oil due to its health benefits. Countries such as China and India in Asia Pacific region produce and export sunflower oil majorly to North America, Eastern Europe, Western Europe and Middle East. Industrial utilization coupled with household use of sunflower oil is strengthening the growth of the sunflower oil market in terms of revenue contribution over the forecast period.
Global Sunflower Oil Market: Growth Drivers
The sunflower oil market is driven by the factors such as utilization of the sunflower oil for frying food products such as bakery products, confectionery and for cooking food. There is increase in demand for the sunflower oil as it is good for heart, skin and keeps bad cholesterol under check which is also fuelling the sunflower oil market. Sunflower oil is also being used in manufacturing cosmetic products for protecting, moisturizing and recovery of skin from bruises and other skin problems. In pharmaceuticals sunflower oil is used in the production active ingredient carrier and production of creams and gel for fast absorbance, it is expected to increase the demand of the sunflower oil globally. These factors are expected to fuel the growth of the global sunflower oil market during the forecast period.
Global Sunflower Oil Market: Key Players
Some of the key players identified across the value chain of the global sunflower oil market includes Archer Daniels Midland Company, Cargill Incorporated, Colorado Mills, CHS Inc., Oliyar Production Company, Delizio, Mcjerry sunfloweroil, PPB Group Berhad, ConAgra Foods, Inc, Marico and Rein Oil CC. The companies are expected to expand their business by enhancing their product portfolio in global sunflower oil market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global sunflower oil market till 2025.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.