Northern America: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Northern America

The North American sunflower-seed and safflower oil market surged to $X in 2022, jumping by 40% against the previous year. In general, consumption continues to indicate a resilient expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Sunflower-Seed And Safflower Oil in Northern America

In value terms, sunflower-seed and safflower oil production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports in Northern America

In 2022, overseas shipments of sunflower-seed and safflower oil were finally on the rise to reach X tons after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sunflower-seed and safflower oil exports skyrocketed to $X in 2022. Over the period under review, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, reaching X tons, which was near 98% of total exports in 2022. Canada (X tons) took a relatively small share of total exports.

Exports from the United States increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, Canada (+11.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +11.2% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest sunflower-seed and safflower oil supplier in Northern America, comprising 96% of total exports. The second position in the ranking was held by Canada ($X), with a 3.7% share of total exports.

In the United States, sunflower-seed and safflower oil exports expanded at an average annual rate of +7.1% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of 11% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.2%).

Imports of Sunflower-Seed And Safflower Oil

Imports in Northern America

In 2022, sunflower-seed and safflower oil imports in Northern America skyrocketed to X tons, with an increase of 54% against the previous year's figure. Over the period under review, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 116% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 93%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States represented the largest importer of sunflower-seed and safflower oil in Northern America, with the volume of imports resulting at X tons, which was near 82% of total imports in 2022. It was distantly followed by Canada (X tons), generating an 18% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sunflower-seed and safflower oil imports into the United States stood at +9.4%. At the same time, Canada (+11.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +11.2% from 2012-2022. From 2012 to 2022, the share of Canada increased by +2.4 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported sunflower-seed and safflower oil in Northern America, comprising 78% of total imports. The second position in the ranking was held by Canada ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +10.8%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, with an increase of 23% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2016 an increase of 30% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :