The global sunflower seeds market was valued at US$ 31,668.1 Mn million in 2020, according to Sunflower Seeds Market Report, by Seed Type (Open Pollinated & Heirloom Seeds and Hybrid Seeds), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global sunflower seeds market is expected to surpass US$ 61,460.2 million by 2027, exhibiting a CAGR of 9.9% during the forecast period (2020-2027). Sunflower seeds are rich sources of vitamin E, possesses anti-inflammatory properties, and also provides benefits against cardiovascular diseases.
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Browse 50 market data tables* and 45 figures* on "Sunflower Seeds Market” - Global Forecast to 2027.
Key Trends and Analysis of the Sunflower Seeds Market:
- Among regions, Asia Pacific is expected to account for a significant market share in 2027. The major factors for an increase in the crop area are increasing demand for sunflower crop in the Asia Pacific region, increasing 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. Thus, the market in Asia Pacific is expected to record a steady growth over the forecast period, owing to the rising demand for sunflower oil and other sunflower-based processed foods.
Key Takeaways of the Market:
- Among seed type, the hybrid segment held a dominant position in 2019 in the global sunflower seeds market and accounted for 57.8% market share, the hybrid segment is further expected to continue its dominance during the forecast period, owing to numerous advantages of the hybrid sunflower seeds over open pollinated seeds such as higher yield and consistent oil content.
- Major 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.
- Key players operating in the global sunflower seeds market are focusing on various strategies such as product portfolio expansion to fuel their target market growth. For instance, in November 2016, Advanta Seeds partnered with Texas A&M AgriLife Research, to establish a seed technology research and development center at College Station, Texas, U.S., which will support all global research programs for plant breeding of crops such as sunflower, canola, wheat, rice, and others. The new R&D center was inaugurated by Advanta Seeds in January, 2018.
Global Sunflower Seeds Market - Impact of Coronavirus (COVID-19) Pandemic
- The world is facing several challenges due to the coronavirus pandemic. For instance, according to the World Health Organization (WHO), around 61.8 million cases have been reported in 185 countries and territories, as of December 1, 2020. The COVID-19 impact varies across several industries. The outbreak has had a negative impact on the growth rate in every sector of the economy, and the agricultural industry is one of it. The pandemic has impacted the agricultural supply chain, as several countries were under lockdown and sealed their borders to curb the spread of the virus. Strict containment regulations imposed by governments of numerous countries and precautionary measures to control the impact of the outbreak have led to restriction of transportation and affected the growth of several markets across the globe.