SUNFLOWER SEEDS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global sunflower seeds market was valued at US$ 31,668.1 Mn in 2020 and is expected to reach US$ 61,460.2 Mn by 2027, exhibiting a CAGR of 9.9% during the forecast period.

Drivers

Rising number of hypermarkets & supermarkets globally is expected to foster the market growth. For instance, according to the Food Industry Association, the number of supermarkets in 2018 were around 38,307, globally. With the increasing number of supermarkets, there has been a wider exposure of sunflower seeds in the market. The wider exposure of the product has led to its popularity among the consumers, which is further expected to drive growth of the market globally. Some of the prominent supermarket players include Walmart, Carrerfour, 7-Eleven, and SPAR, among others.

The reports by, Defeat Diabetes Foundation in 2018 suggested that, sunflower seeds is believed to aid in reducing sugar levels in the body, when consumed, and as a result, it has been used in various ready-to-eat products. In addition, it also suggests that sunflower seeds is also believed to help in reducing the bad cholesterol level that further aids in reducing the risk of cardiovascular diseases such as coronary heart disease, etc. Hence, the increasing demand for ready-to-eat food products is further expected to drive the overall market growth.

Among regions, Europe held dominant position in the global sunflower seeds market in 2020, accounting for 75.6% market share in terms of revenue, followed by Latin America.

Figure 1. Global Sunflower Seeds Market Revenue Share (%), By Region, 2020

Market Restraints

Although the sunflower seeds are widely known for its high nutritional profile, however, there are various side effects and allergies associated with the high intake of sunflower seeds. Further, the consumption of sunflower seeds causes fecal impaction or stool blockages leading to constipation, in both adults and children. Thus, all these factors are estimated to hamper the market growth over the forecast period

Market Trends

Key players are focusing on launching new products, in order to strengthen their market presence in the global sunflower seeds market. For instance, in July 2019, Germany-based BASF, entered into an agreement with Euralis Semences, one of the largest sunflower seeds distributor in Europe, for launching a new series of hybrid seeds across the entire European continent. The key objective of the agreement was to develop a new strategy for sunflower seeds marketing. In 2019, Tamil Nadu Agricultural University (TNAU) introduced a new series of sunflower hybrid seeds. These seeds are moderately disease-resistant and can be cultivated in rain-fed regions. The rising awareness of high nutritional profile of the sunflower seeds along with the new product launches by market players, leads to the increasing demand for sunflower seeds, which is further expected to drive the market growth.

Figure 2. Global Sunflower Seeds Market– Opportunity Analysis

On the basis of seed type, in 2020, the hybrid segment held dominant position in the global sunflower seeds and accounted for 57.8% market share, and is further expected to continue its dominance during the forecast period, owing to numerous advantages of hybrid sunflower seeds over open pollinated seeds such as higher yield and consistent oil content

Figure 3. Global Sunflower Seeds Market Revenue Share (%), By Seed Type, 2020

Global Sunflower Seeds Market- Impact of Coronavirus (COVID-19) Pandemic

The sunflower seeds market growth has been affected due to the logistics issues during the pandemic. As March and April are the most critical months to sow spring crops such as sunflowers, the lockdown and transport restrictions impacted the sunflower seeds market. However, the demand for seeds has not been affected as seeds come under 'essential' category.

Many agricultural producing countries, including India are closely monitoring the production and distribution of seeds to ensure uninterrupted supply of seeds to farmers during harvest period amid COVID-19 outbreak. Moreover, the International Seed Federation has been partnering with various other international organizations such as Australian Seed Federation (ASF), New Zealand Grain and Seed Trade Association (NZGSTA), and Euroseeds, among others to make sure that the logistics of the sunflower seeds market is not hampered.

 Competitive Section

Key players operating in the global sunflower seeds market include Corteva, Inc., Groupe Limagrain, Kws Saat Se & Co. Kga, Takii Co. Ltd., Sakata Seed Corporation, Syngenta AG, BASF S.E., Advanta Seeds, Pannar (Pty) Ltd., Nuziveedu Seeds, and Hazera