Seattle, WA -- (SBWIRE) -- 11/14/2019 -- Market Introduction:-
Sunflower seed is a fruit of sunflower and is a rich source of vitamin E and omega-6 fatty acids. Sunflower oil finds wide application in domestic cooking as it has various nutritional benefits such as it contains 80% of monounsaturated fats, which is good for the heart. Vitamin E helps to improve the health of the skin and prevents the chances of cardiovascular diseases. For instance, according to the World Health Organization (WHO), sunflower oil and Aquaphor significantly recover epidermal or skin related diseases. Sunflower seed holds a significant position in the agricultural producing countries such as Ukraine, Russia, Argentina, China, Romania, and others. According to the International Potash Institute and State Statistics Service of Ukraine, Ukraine holds first place in the global production of sunflowers with a 25% share, followed by Russia with 22%. Ukraine exports around 57 % of the world's total sunflower.
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Market Dynamics
The animal feed market has emerged as the largest segment of the sunflower seed by-product. Sunflower seed is one of the excellent sources for animal feed because of its high oil content, which fulfills the fat supplement requirement for the livestock. Growing animal feed market is also one of the major factors boosting the demand for sunflower seed over the forecast of the period. According to the Food and Agriculture Organization of the United Nations (FAO), global meat production is estimated to be 16% higher in 2025, than in the base period (2013-15).
Growing demand for sunflower seed from the cosmetic industry for the production of personal care products such as acne moisturizer, eye cream, anti-aging mask and others as sunflower seed is a rich source of fatty acids and linoleic acid. Hence, the rising demand for cosmetic and skincare products in the Asia Pacific region is expected to propel the market growth. For instance, according to the India Brand Equity Foundation (IBEF), the market size of India's beauty, cosmetic and grooming market is expected to grow to US$ 20 billion by 2025, which will boost demand for sunflower seed oil in the market.
Regional Outlook:-
Europe is expected to account for the largest market share in the sunflower seeds market. For instance, according to the Ministry of Foreign Affairs, in 2016, Europe imported 3.2 million tons of sunflower seeds. France is the largest importer of sunflower seeds, which accounted for 17.5% share in volume in 2016. According to Ukraine Business Council, Ukraine and Russia are the largest producers of sunflower oil, which accounts for half of the world's sunflower oil production.
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The Asia Pacific is expected to propel the demand for sunflower seed in the forecast period, owing to the booming food industry since sunflower oil is widely used across the food industry as salad oil cooking, frying oil, manufacturing of mayonnaise, and oil-based dressings. For instance, as per India Brand Equity Foundation and Invest India Government Organization, in 2017, the food industry in India was estimated at US$ 52.74 billion, which is expected to reach US$ 482 billion by 2020.
Key Market Players:-
Key players of the sunflower seeds market include Kernel Group, Delta Wilmar CIS, Viktor and K, Oliyar, UkrOliya LLC, BBBB (Kaissa), PJSC Kyiv, Kaissa Oil, Astons (Food and Food ingredients), NMGK Group of Companies, and Rusagro Group.
Market Taxonomy:-
Based on product type, the global sunflower seeds market is segmented into:
- Oil Seed Type
- Non-Oil Seed Type
Based on application/use, the global sunflower seeds market is segmented into:
- Pharmaceutical
- Cosmetic & Personal Care
- Energy
- Food
- Animal Feed
Based on the region, the global sunflower seeds market is segmented into:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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