Sunflower seeds are excellent source of vitamin E and omega-6 fatty acids, owing to its nutritional benefits, sunflower oil finds wide application in domestic cooking. It contains over 80% of monounsaturated fats, which makes it good for heart. Vitamin E helps to improve the health of skin and prevents cardiovascular diseases. For instance, according to 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 International Potash Institute and State Statistics Service of Ukraine, Ukraine holds first place in global production of sunflower with 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 is one of the largest segments of the sunflower seed by-products such as meal, hulls, and others. The by-product of the sunflower seed is one of the best source for animal feed due to its high oil content, which fulfill fat supplement requirement of the livestocks. Rising global livestock feed market is one of the propelling factor supporting growth of the sunflower seed industry during the forecast 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).
Sunflower seed oil is rich sources of fatty acids and linoleic acid, which is used for making cosmetic or personal care products such as acne moisturizer, eye cream, anti-aging mask and others. Increasing demand for the cosmetic and skin care products in Asia Pacific is expected to propel growth of the sunflower seeds market. 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.
Market Outlook:-
Europe is expected to account for the largest market share in sunflower seeds market. For instance, according to 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 to 17.5% share in volume in 2016. According to Ukraine Business Council, Ukraine and Russia are the largest producers of sunflower oil, which accounts half of the world’s sunflower oil production.
Asia Pacific is expected to propel the demand for sunflower seed in the forecast period, owing to growing food industry. Sunflower oil finds its major application in 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, food industry in India was estimated at US$ 52.74 billion, which is expected to reach US$ 482 billion by 2020.
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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.
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