Report on the Sunflower Market

The global sunflower market is characterized by dynamic developments influenced by production fluctuations and geopolitical events. Below is a summary of the key insights and trends in the market.

Global Market Size and Growth

The global sunflower market was estimated at approximately USD 40.59 billion in 2024. By 2029, it is expected to grow to USD 47.08 billion, representing an average annual growth rate of 3.01%. This growth is primarily driven by increasing demand for sunflower oil and related products.

Production and Harvest Forecasts

• France: Sunflower production in 2024 is projected at around 1.9 million tonnes, representing a 10.1% decline compared to the previous year. The main reasons are a 3% reduction in cultivated areas and a 7.4% drop in yields.
• Ukraine and Russia: Both countries are major producers and exporters of sunflower oil. The ongoing conflict in the region has led to production disruptions and export restrictions, significantly impacting global prices.

SAFEX Sunflower Prices (as of January 10, 2025)

The SAFEX (South African Futures Exchange) sunflower prices show varying developments depending on contract maturity:

The March 2025 contract shows the strongest percentage change with an increase of +1.83% and a notable trading volume of 173 tonnes. The January 2025 contract also shows movement with a +0.60% rise.

Demand and Consumption

The rising demand for healthy edible oils has boosted global consumption of sunflower oil. Particularly in Europe and the Asia-Pacific region, sunflower oil is preferred for its health benefits and neutral taste. The oil and snack industries continue to expand their use of sunflower oil.

Market Trends

1. Health Benefits: Sunflower oil is rich in oleic acid and linoleic acid, which have been shown to positively influence cholesterol levels. This makes it particularly attractive to health-conscious consumers.
2. Regional Developments: The Asia-Pacific region is experiencing rapid growth in the sunflower market, driven by increased health awareness and higher incomes. China is a leading player in both production and export of sunflower seeds.
3. Applications: In addition to edible oil production, sunflowers are used in flour manufacturing and as an ingredient in the confectionery industry.

Challenges

• Geopolitical Risks: The conflict between Russia and Ukraine has significant effects on the market. As both countries play a major role in global production, supply disruptions have led to price volatility.
• Climatic Conditions: Weather-related yield declines and changing cultivation conditions pose additional challenges.

Conclusion

The sunflower market remains a dynamic sector with significant potential. The growing demand for healthy foods and the versatile applications of sunflower products offer growth opportunities. At the same time, geopolitical uncertainties and climatic challenges require a flexible market strategy and continuous monitoring of global developments.

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