Market Research Report
Sunflower Seed Market (Seed for Sowing) - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Published by||Mordor Intelligence Pvt Ltd||Product code||851137|
|Published||Content info||124 Pages
Delivery time: 2-3 business days
|Sunflower Seed Market (Seed for Sowing) - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|Published: April 21, 2021||Content info: 124 Pages||
The Sunflower Seed Market is anticipated to grow at a CAGR of 4.4% during the forecast period (2021-2026). In spite of the prevailing COVID-19 situations, global consumption has seen an inclination towards healthy eating which has created a demand for sunflower oils as it is considered as healthy among the edible oils. Therefore it resulted in an increased area under the production of sunflower and also an increase in the price of sowing seeds. The sunflower seed market (seed for sowing) has witnessed unprecedented vertical growth in recent years. The market for sunflower seed used for sowing purposes forms a small part of the sunflower seed commodity industry and accounts for only 2% of the market share. Sunflower being an oilseed crop, maintenance of seed vigor and viability during storage pose a severe problem. that is slightly hindering the growth of the market. However, hybrid seeds are thus gaining attraction as they can be stored for up to 10 months provided the seeds are not infected by storage pests. Therefore, an appropriate storing mechanism with controlled environmental conditions should be available to maintain the quality of seeds for a longer period of time.
Increase in Area under Cultivation
According to FAO, cultivation of sunflower crop has been increased by 3.92% across the globe during the period 2016-2019 and it is estimated to increase continously in the forecasted period. The major factors for an increase in the crop area are increasing demand for sunflower crop in the European and Asia-Pacific region, increasing the demand for vegetable oil, high prices for sunflower crop, and low cost of sunflower seed. The growing applications of the sunflower seeds is also a reason leading to the growth in production of the crop. The increasing area of sunflower crop and increasing demand for vegetable oil is driving the growth the sunflower seed market for sowing purpose.
Increasing Sunflower Seed Production in the European Region
According to the FAO, sunflower is grown on 19.30 million hectares in Europe and is used for food, feed, fuel, and industrial purposes. About 80% of the sunflower seeds production within the region is used for domestic consumption, out of which, 90% is used for crushing, while the rest is used for bird feed and confectionary making. Countries such as Italy, Portugal, Germany, Austria, Croatia, and the Czech Republic have experienced growth in sunflower plantings in the past few years. The demand for sunflower meals is expected to be lower than usual, owing to less crush and availability. However, the demand is still stable due to projected better competitiveness compared to the rapeseed meal. consumption of sunflower-based products. Thus, the market is anticipated to record healthy growth over the forecast period, owing to the rising demand for sunflower oil and other sunflower-based processed foods.
Global sunflower seeds market is a fragmented market with the presence of various small and large players in the market. Advanta Seeds, Sakata, Syngenta, Corteva Agriscience, Groupe Limagrain are some of the players operating in the market. Companies are adopting strategies, such as forming joint ventures and agreements in order to exploit the current sunflower seed demand.