NEW YORK, March 14, 2022 /PRNewswire/ — The “Sunflower Market by Type (oilseed and non-oilseed) and Geography (Europe, APAC, South America, North America, and Middle East and Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the sunflower market between 2021 and 2026 is USD 8.13 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
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Key Market Dynamics:
- Market Driver
- Market Challenge
The demand for sunflower oil is one of the key factors driving the growth of the sunflower market. There is a high demand for cooking oil in countries such as India. In 2020, the adverse weather conditions caused global sunflower production to fall by 9 against 2019. This led to the rapid depletion of global stocks and the subsequent rise in sunflower seeds and oil prices. However, the demand for sunflower oil is set to remain stable, supported by the growing consumption of food oil and biofuels. The EU, China, India, Iraq, and Turkey are some of the major destinations for export due to rising food demand from expanding middle class and urban population.
The fluctuation in oilseed crop prices due to lack of land will challenge the sunflower market during the forecast period. Prices of oilseed crops, such as sunflower, are volatile due to variable weather conditions and political instability. This is affecting oil crop producers’ output, thus limiting oil supply to manufacturers. Other important issues leading to a decline in specialty oil production levels worldwide include restricted…
