Sunflower Oil Market Size, Share & Trends Analysis Report By Application (Cooking, Cosmetics, Personal Care (Moisturizer body/hair), Others), By Type (Linoleic Oil, Mid-oleic Oil, High-oleic Oil), By End-User (Industrial, Food Services, Household), By Distribution Channel (Online Channels, Supermarkets/Hypermarkets, Convenience Stores) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Sunflower Oil Market Size

The global sunflower oil market size was valued at USD 35.84 billion in 2023. It is estimated to be USD 37.94 billion in 2024 and to reach USD 59.79 billion by 2032, growing at a CAGR of 5.85% during the forecast period (2024–2032). The increase in global market share during the forecast period is related to the growing usage of it in the beauty and personal care industry and the rising use of it for biodiesel production.

Sunflower oil is a non-volatile oil extracted from the seeds of the sunflower plant (Helianthus annuus). It is commonly used for cooking, as well as in cosmetics and industrial applications. The oil is rich in vitamin E and low in saturated fat, which makes it a popular choice for consumers seeking healthier cooking options. Selective breeding and production techniques produce different oil compositions with other fatty acid ratios. The expressed oil has an unremarkable flavor. The amount of vitamin E found in the oil is relatively high. Genomic analysis and hybrid sunflower development are now being worked on to address growing customer demand for commercial types of it.

The global market is a significant segment of the edible oils market, characterized by its widespread use in household and industrial cooking. It is prized for its light taste, high smoke point, and health benefits, particularly its high polyunsaturated and monounsaturated fat content. Increasing consumer awareness about the health benefits of it, such as its ability to lower cholesterol levels and its rich vitamin E content, has driven its popularity. Additionally, the food industry is a significant consumer of sunflower oil, which is used in preparing snacks, baked goods, and processed foods.

Highlights

• The linoleic oil segment dominates the global market by type.
• The food segment owns the highest market share by application.

Sunflower Oil Market Growth Factors

Growing usage of sunflower oil in beauty and personal care industry                                      

The beauty industry saw significant changes over the past several years, owing to the shift/change in consumer preferences and lifestyles and consistent innovations from cosmetics companies. This increased the demand for sunflower oil-based oleochemicals, as these serve as the "backbone" of several beauty and cosmetic formulations. It can regenerate skin cells and prevent skin damage from the sun's influence or aging.

Furthermore, topical application of it repairs damaged skin cells, removes acne, and moisturizes dry and sensitive skin, as it is rich in vitamins A and E, potent antioxidants. According to Stephenson, a personal care solutions company, It can help boost ceramide molecules that promote soft and smooth skin, combatting dryness commonly caused by traditional surfactants. It is a common ingredient in solid and liquid applications, specifically haircare, due to its moisture-rich and non-greasy feel on the hair. Thus, the surging use of it in the beauty and personal care industry is expected to boost market growth.

Rising use of sunflower oil for biodiesel production

The depletion of fossil fuels, supported by the increasing awareness about environmental protection, led to concentrated and accelerating research and development efforts in search of renewable and environment-friendly alternative energy sources. The recent strong demand for renewable fuels resulted in increased production of biofuels worldwide. People are turning to sustainable biofuels such as biodiesel produced from vegetable oils.
Similarly, sunflower seeds can produce approximately 600 pounds of oil per acre, more than soybeans. As a result, the oil has quickly gained popularity as a feedstock crop for biodiesel manufacturing, as it is simple to cultivate and profitable on both small and large farms. This contributes to recycling used cooking oil, resulting in a more sustainable, eco-friendly fuel with lower pollutant emissions. Thus, it will be utilized extensively in biodiesel production, fostering market expansion.

Sunflower Oil Market Restraining Factors

Increased availability of direct substitutes                       

The increased presence of direct substitutes, like canola oil, olive oil, and coconut oil, with similar nutritional attributes, is one of the factors restraining the growth of the market globally. In addition, the manufacturing process of oils with high wax content, such as sunflower, is expensive owing to the additional filtration and dewaxing process. This phenomenon increases the overall end-product price, which is comparatively higher than other conventional oils, like soybean, palm, and groundnut, thereby hampering its adaptability in various emerging economies.

Sunflower Oil Market Opportunities

Growing demand for sunflower oil due to health benefits                            

It has frequently marketed as healthy because it contains unsaturated fats that may benefit heart health. The non-volatile oil from sunflower bloom seeds is a monounsaturated (MUFA) and polyunsaturated (PUFA) blend of oleic acid (omega-9) and linoleic acid. It contains glyceridic content, consisting of tocopherols and plant sterols. With good oxidative stability, regular sunflower oil has many applications in the food sector, mainly as a salad and cooking oil.

It is typically considered a premium oil owing to its light color, high level of unsaturated fatty acids, bland flavor, lack of linolenic acid, and high smoke point. Sunflower oil is kosher and halal, which is beneficial for creating many specialty packaged foods. Similarly, the rising global population and the rapidly expanding food processing industry are paving the way for the increase in commercial production and consumption of it, augmenting the market's growth.

Regional Insights

Europe is a dominant region with 7.82 market share

Europe is the most significant global market shareholder and is estimated to exhibit a CAGR of 7.82% during the forecast period. Due to their fast-paced lifestyles, European consumers opt for healthier cooking oils. As a result, oil consumption in the food service industry and households has increased significantly. These trends have contributed to the regional market expansion. In addition, Russia and Ukraine are the two biggest producers of sunflower seed oil worldwide. The oil and fat industry is one of the leading subsectors of the food processing industry in Russia, and sunflower oil production has increased exponentially over the past decade.

Similarly, Russia is the world's second-biggest sunflower seed and oil producer after Ukraine. As per the US Department of Agriculture, sunflower seed oil production increased from 5.12 million metric tons in 2020-2021 to 5.82 million metric tons in 2021-22 due to increased demand from the domestic processing sector and other regions of Europe. However, sunflower production has been affected by the ongoing war, raising the price of sunflower oil and a temporary restraint on the market's growth.

Asia-pacific is the fastest growing region

Asia-Pacific is estimated to exhibit a CAGR of 8.51% over the forecast period. The presence of emerging nations like China and India is expected to boost the Asia-Pacific market. According to the Malaysian Palm Oil Council, Importing of it in China increased by 74.8% in 2019 to 1.23 million metric tons, surpassing soybean oil as the third most imported oil in the same year. Also its consumption increased to 1.36 million metric tons in the same year. It has been gaining popularity among households in India owing to its light golden character and clarity, which is representative of higher quality.

Additionally, cholesterol problems are widespread among Indians owing to genetic risk, lack of physical activity, and suboptimal dietary habits. According to the Indian Heart Association, the risk of young people dying from heart disease doubles for every 40-point increase in total cholesterol. Growing consumer awareness about high cholesterol levels and cardiovascular diseases has driven the demand for it, widely known as "cholesterol-free," during the review period.

North American region consists of three major countries, i.e., the U.S., Canada, and Mexico. The U.S. is the leading revenue contributor to the regional market growth. The surging prevalence of cardiovascular disorders across the country and higher demand for healthy food products, especially snacks and functional foods, are some prominent drivers of the market in the United States. Similarly, sunflowers are planted across Canada as oilseed and confectionary sunflowers. Most of it is produced domestically is consumed domestically, and the rest is exported. NuSun™ or mid-oleic sunflower type are grown on the most acreage in Canada.

Additionally, Mexico heavily depends on fossil fuels and coal for most of its fuel and energy. The government has been investing in developing biodiesel space in the country to meet its energy needs. The increasing biofuel production is expected to create a demand for ideal sources like sunflower oil in the coming years.

In South America, rising awareness and adoption of it are due to its potential and functional benefits as an ingredient in the production of numerous food products, coupled with the adoption of public policies that allow the use of it with better nutritional and industrial properties, are prime drivers of that are elevating the demand for the global market. In Brazil, It has been exploited for biofuel production as it has shown advantages as a raw material for biofuel use, such as high oil content. However, with its high nutritional and functional properties, most of the it in the country is directed for application in the food industry.

Sunflower Oil Market Segment Analysis

By type 

The linoleic oil segment dominates the global market and is projected to exhibit a CAGR of 5.73% over the forecast period. Linoleic acid is a fundamental fatty acid found in various oils, including sunflower, safflower, and grape seed oil. It is a colorless or white oil insoluble in water but in a wide range of organic solvents. Linoleic acid is essential for natural skin functions and wound healing, and its deficiencies can lead to skin and hair issues. The benefits of skin healing have led to the demand for linoleic acid-based sunflower oil in the personal care segment.

In addition, the demand for it in developing countries due to consumer shifting their focus toward nutrient-rich edible oil has also let the manufacturers focus on product innovation and business expansion. 

• For instance, in 2019, Russia-based vegetable oil manufacturing company EFKO and Egypt-based United Oil came together for a joint venture to produce vegetable oil in Egypt, including sunflower, soybean, and groundnut oil.

The variety of mid-oleic oil is widely favored due to its global occurrence. This is so that mid-oleic oil has a high level of oleic acid, retains linoleic acid levels, and is less prone to rancidity and breakdown. The large-scale application of mid-oleic sunflower oil across many sectors is a significant growth factor for the market. Similarly, expanding the food and beverage sector and increasing consumer awareness about health will likely boost the overall demand for it over the forecast period. Moreover, the increased prevalence of cardiac disorders worldwide has resulted from increased demand for it in the healthcare industry.

By applications

The food segment owns the highest market share and is estimated to exhibit a CAGR of 5.73% during the forecast period. The increasing demand for it as cooking oil in the food industry and food service sector is the primary reason for the increased growth boost. The overall rise in the price of the final product is more significant than that of other conventional oils like soybean, palm, and groundnut. This contributes to its low adaptation in several emerging economies. Thus, the global market is expected to be restrained soon. In addition, the need for frying oil is very high in the food industry. The global market for it is expected to expand steadily due to high demand from food producers. The sunflower is highly used in manufacturing various processed foods such as snacks. 

• For instance, from 2003 till the present, Frito-lay, an American subsidiary of Pepsico, has switched to sunflower oil to make snacks.

Sunflower oil treats a wide range of diseases and chemical compounds. It is widely used in personal care products; therefore, demand is expected to increase shortly. In addition to its application in the healthcare sector, it is anticipated to be in high demand among cosmetics manufacturers. Rising consumer demand for sunscreen, face masks, and eye treatments will help the global market for it grow over the forecast period.

Additionally, rising demand for oil-based personal care products free of chemicals among cosmetics consumers is anticipated to fuel the global market. It is widely used in the personal care industry. Major market participants uses it to make clean-label and sustainable products. For example, in April 2019, L'Oreal released Seed Phytonutrients, a sustainable beauty brand based on sunflower seed oil.

Recent Development

• June 2024 - Two prominent purchasers and a customs official informed Reuters that Indians purchased a record 500,000 metric tons of sunflower oil for June delivery because it was more affordable than soy oil and palm oil due to the competition between the two largest suppliers, Russia and Ukraine.

• June 2024 - Spanish households purchase more sunflower oil than olive oil for the first time.