Sunflower Oil Market Is Likely to Experience a Tremendous Growth by 2031

The global sunflower oil market is anticipated to grow at a considerable CAGR of 6.7% during the forecast period. One of the key factors that are fuelling the market is the growing competitiveness among the existing market players and new entrants. In addition, the existing major players in the market are also inclined toward introducing a new brand of sunflower oil catering to expand its product portfolio and stay competitive. For instance, in April 2022, the Union Miniter for Fisheries launched Dhara sunflower oil brand packaged by Bengaluru-based oilseeds cooperative Karnataka Cooperative Oilseeds Growers' Federation (KOF) to grab a larger market. Additionally, in July 2020, Amul, an Indian dairy cooperative society, introduced a new oil brand Janmay edible oils, in Gujarat, India. The brand range includes groundnut oil, soybean oil, sunflower oil, and other prominent cooking oils.

Another major factor that is bolstering the growth of the market includes the growing adoption of several strategic initiatives such as mergers and acquisitions by key market players across the globe. Furthermore, the key companies are also involved in advancing, innovating, and launching new products to cater rising demand for sunflower oil. For instance, in February 2022, Chevron USA Inc. and Bunge North America, Inc. signed definitive transaction agreements to create a joint venture. The new venture aims to create renewable feedstocks leveraging Bunge’s expertise in oilseed processing and farmer relationships and Chevron’s expertise in fuel manufacturing and marketing.

In December 2021, Cargill, Inc. acquired an edible oil refinery located in Andhra Pradesh, India. The company invested $35 million to acquire, upgrade, and expand the facility. Through this acquisition, the company will produce and package its edible oil brands for retailers, including sunflower oil. The new facility came into fully operational by May 2022. Apart from this, in February 2020, Saipol launched OleoZE, a purchasing service for sustainable French oilseeds. The platform enables farmers and collecting organizations to market their rapeseed and sunflower seeds by rewarding farming practices that reduce CO2 emissions.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Type
• By End-User

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World
• Competitive Landscape- including  Archer Daniels Midland Co., AVRIL SCA, Bunge Ltd., Cargill Inc., KAISSA, and others. 

Sunflower Oil Market Report Segment

By Type

• Linoleic
• Mid-Oleic
• High-Oleic

By Application

• Foodservice
• Household
• Biofuels
• Personal care
• Industrial

 A full Report of Sunflower Oil Market is Available @  https://www.omrglobal.com/industry-reports/sunflower-oil-market

Sunflower Oil Market Report Segment by Region

North America                                                                                                           

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles 

• AAK AB
• AVENO N.V.
• Dubai World Trade Center L.L.C. (Abu Dhabi Vegetable Oil Co.)
• CHS Inc.
• Conagra Brands, Inc.
• Colorado Mills 
• Hanoon Oil Factory
• Lia Food (EFKO Group)
• Marico Ltd.
• Oliyar Production Co.
• Parakh Group 
• Rein Oil CC 
• Mcjerry Sunfloweroil Co. Ltd.

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Article source: https://article-realm.com/article/Food-Beverage/61583-Sunflower-Oil-Market-Is-Likely-to-Experience-a-Tremendous-Growth-by-2031.html