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World - Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights

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Jun 8, 2021

Global Sunflower Oil Consumption Grows Despite the Ongoing Price Rally

IndexBox has just published a new report: 'World - Sunflower-Seed And Safflower Oil - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

Over the past year, the prices for sunflower oil have doubled, driven by robust demand and depleting sunflower seed stocks. The dry weather conditions negatively affected the sunflower crop yield in 2020, but the market is now seeing a sturdy recovery. The production of sunflower oil is forecast to increase in 2021 due to strong demand that promotes investments in the expansion of harvested areas.

Key Trends and Insights

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 prices for sunflower seeds and oil. The average price for sunflower oil in 2020 stood at $795 per ton (EU FOB NW Euro); in the first six months of 2021, prices reached $1,321 per ton.

Despite prices rising at an exorbitant rate, the demand for sunflower oil is set to remain stable, supported by the growing consumption of food oil and biofuels. Should the HoReCa and tourism sectors resume full operation, a further increase in demand is expected in the medium term.

The competing oils available on the market are also seeing a similar record rise in prices. The cost of soybean oil increased from $785 / ton (Dutch FOB; Ex-Mill) to $1,112 / ton, and palm oil from $645 to $955 / ton (Malaysia FOB; RBD) over the same period. This means that sunflower oil follows the global trend of accelerating food inflation and should hold its position among competing oils in the global market.

In 2021, global exports of sunflower oil are forecast to increase by 14% y-o-y, reaching 12.6М tons. The EU, China, India, Iraq and Turkey feature among the most attractive destinations for export due to rising food demand from expanding middle class and urban population. Imports of sunflower oil to India may increase by 250К tons, to 2.5М tons, while imports to Turkey may see an increase of 850К tons.

This year, the global sunflower oil output is forecast to increase by 4% to 39М tons, spurred by a record acreage expansion and the anticipated favourable weather outlook. New areas of land for sunflower crop cultivation in Russia, Ukraine, the EU, Argentina, Turkey and Moldova should trigger the further growth of sunflower seed production. In the U.S. and China, sunflower oil production is forecast to decline due to a reduction in areas under sunflower against rising plantations of soybeans.

Sunflower Oil Consumption by Country

The countries with the highest volumes of sunflower-seed and safflower oil consumption in 2020 were Russia (3.6M tons), India (2.6M tons) and China (2.4M tons), together comprising 37% of global consumption. Turkey, Argentina, Spain, Ukraine, Iran, Italy, France, Belgium, the Netherlands and South Africa lagged somewhat behind, accounting for a further 34%.

In value terms, the largest sunflower-seed and safflower oil markets worldwide were Russia ($3.1B), India ($2.2B) and Turkey ($2B), together comprising 33% of the global market. China, Argentina, Spain, Ukraine, Italy, France, Iran, South Africa, Belgium and the Netherlands lagged somewhat behind, comprising a further 35% (IndexBox estimates).

The countries with the highest levels of sunflower-seed and safflower oil per capita consumption in 2020 were Belgium (39 kg per person), the Netherlands (26 kg per person) and Russia (25 kg per person).

Global Sunflower-Seed and Safflower Oil Exports

In 2020, approx. 11M tons of sunflower-seed and safflower oil were exported worldwide, falling by -17.3% compared with 2019. In value terms, sunflower-seed and safflower oil exports shrank to $10B in 2020.

Ukraine represented the major exporting country with an export of about 5.1M tons, which finished at 46% of total exports. Russia (1,568K tons) held a 14% share (based on tons) of total exports, which put it in second place, followed by the Netherlands (6.7%) and Hungary (4.7%). France (370K tons), Bulgaria (334K tons), Argentina (317K tons), Spain (221K tons), Germany (195K tons) and Romania (191K tons) took a relatively small share of total exports.

Exports from Ukraine increased at an average annual rate of +4.6% from 2012 to 2020. At the same time, Bulgaria (+15.7%), Spain (+8.9%), the Netherlands (+7.4%), Russia (+6.3%), Romania (+3.8%), Germany (+3.4%) and Hungary (+3.2%) displayed positive paces of growth. By contrast, France (-2.3%) and Argentina (-8.8%) illustrated a downward trend over the same period.

In value terms, Ukraine ($4.3B) remains the largest sunflower-seed and safflower oil supplier worldwide, comprising 43% of global exports. The second position in the ranking was occupied by Russia ($1.3B), with a 13% share of global exports. It was followed by the Netherlands, with a 7.2% share.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for sunflower-seed and safflower oil. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 268 - Oil of Sunflower Seed
  • FCL 281 - Oil of Safflower Seed

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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