Sunflower Oil Market Projections Deliver Positive Revenue Growth Till 2022
Posted by Arslan on March 15th, 2019
Sunflower oil is used in the treatment of various diseases and chemical formulations. Food industry also witnesses considerable demand in food industry as a frying oil. The global market for sunflower oil is expected to witness a steady growth due to considerable demand among food manufacturers. Expansion of online platforms and franchise outlets will contribute towards growth of the global sunflower oil market. Europe will remain the largest market for processed sunflower oil globally. The global sunflower oil market is expected to witness a moderate CAGR growth, and will reach a value of more than US$ 11 Mn in 2022.
Consumption of Sunflower Oil in Healthcare Industry
Known for its health-related benefits, consumption of sunflower oil is not only restricted for treating cardiac diseases in the hospitals. Attributed to its anti-inflammatory properties, sunflower oil has been a beneficial for people suffering from asthma and arthritis. Apart from its use in treatment of arthritis and asthma, sunflower oil is also used to tenia pedis foot infection among men athletes. Bound to such factors, sunflower oil is expected to witness an upsurge in demand in the global healthcare industry.
Cosmetic Manufacturers to Represent Considerable Demand
Rich in antioxidants and beta-carotene, the sunflower oil witnesses a considerable demand among manufacturers of cosmetic products such as sun protection creams, eye creams, and anti-aging masks. Attributed to gamma alpha linolenic acid qualities, demand for sunflower oil is likely to increase among manufacturers of hair products. Cosmetic industry is likely to contribute significantly towards growth of the global sunflower oil market attributed to such factors.
Food Industry to Witness Significant Demand
Apart from cosmetic and healthcare industry, sunflower oil further witnesses a considerable demand in the food and beverages industry. On the other hand, manufacturers of food products prefer other healthy oil products including olive oil. Availability of substitute oil product is likely to hinder growth of the global sunflower oil market by 2022.
Europe among other regions is expected to remain the largest market for sunflower oil globally throughout 2022. According to the report, processed sunflower in Europe will witness significant demand in the foodservice and retail industry. Modern trade in Europe will represent more than US$ 1,000 Mn by the end of 2022. Franchise outlets and online channels will remain major distribution channels for sunflower oil products in Europe.
Key distributors and manufacturers highlighted in the report include Ruchi Soya Industries Ltd, The Adani Wilmar Ltd., Archer Daniels Midland Company, Associated British Foods (Ach), Bunge Limited, Beidahuang Group, Cargill Inc., Borges Mediterranean Group, Olympic Oils Limited, Adams Group, Marico Limited, Fuji Vegetable Oil, Inc., American Vegetable Oils, Inc., ConAgra Foods (Agrotech Foods Ltd), and Ach Food Companies, Inc.
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