Sunflower Oilcake Market

The article provides a detailed analysis of the global sunflower oilcake market, highlighting trends in consumption, production, imports, and exports. With forecasts projecting growth in both volume and value by 2030, key insights include the largest consuming countries, leading producers, major importers, and top exporters. The data showcases fluctuations in market performance and notable growth rates in various regions. Overall, the sunflower oilcake market is poised for continued expansion in the near future.

Market Forecast

Driven by increasing demand for sunflower oilcake worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2022 to 2030, which is projected to bring the market volume to 97M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $131.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sunflower Oilcake

In 2022, after two years of decline, there was growth in consumption of sunflower oilcake, when its volume increased by 1.3% to 92M tons. The total consumption volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 95M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global sunflower oilcake market value skyrocketed to $87B in 2022, surging by 216% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

China (19M tons) remains the largest sunflower oilcake consuming country worldwide, comprising approx. 21% of total volume. Moreover, sunflower oilcake consumption in China exceeded the figures recorded by the second-largest consumer, India (7.5M tons), threefold. The United States (5.3M tons) ranked third in terms of total consumption with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +9.1%. In the other countries, the average annual rates were as follows: India (+8.6% per year) and the United States (+2.8% per year).

In value terms, Brazil ($57.3B) led the market, alone. The second position in the ranking was held by China ($12.6B). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +80.7%. In the other countries, the average annual rates were as follows: China (+15.3% per year) and India (+7.3% per year).

The countries with the highest levels of sunflower oilcake per capita consumption in 2022 were Ukraine (53 kg per person), Russia (27 kg per person) and Turkey (25 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Ukraine (with a CAGR of +15.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sunflower Oilcake

In 2022, after two years of decline, there was growth in production of sunflower oilcake, when its volume increased by 0.7% to 91M tons. The total output volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 12%. Global production peaked at 94M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, sunflower oilcake production fell to $26.8B in 2022 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 27%. Global production peaked at $32.2B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (17M tons) constituted the country with the largest volume of sunflower oilcake production, comprising approx. 19% of total volume. Moreover, sunflower oilcake production in China exceeded the figures recorded by the second-largest producer, India (7.4M tons), twofold. Russia (5.8M tons) ranked third in terms of total production with a 6.3% share.

In China, sunflower oilcake production increased at an average annual rate of +7.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+8.6% per year) and Russia (+3.4% per year).

Imports

World Imports of Sunflower Oilcake

In 2022, approx. 11M tons of sunflower oilcake were imported worldwide; growing by 15% on 2021. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.3% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by 20% against the previous year. Over the period under review, global imports reached the peak figure at 11M tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sunflower oilcake imports soared to $3.7B in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +119.4% against 2016 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 25%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, China (2.2M tons), distantly followed by Turkey (1,364K tons), Italy (722K tons), France (670K tons), the Netherlands (649K tons), Poland (513K tons) and Germany (481K tons) were the main importers of sunflower oilcake, together creating 62% of total imports. Belarus (452K tons), the UK (425K tons), Morocco (259K tons), Latvia (253K tons), Spain (246K tons) and Belgium (200K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +188.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($957M) constitutes the largest market for imported sunflower oilcake worldwide, comprising 26% of global imports. The second position in the ranking was held by Turkey ($444M), with a 12% share of global imports. It was followed by France, with a 6.3% share.

In China, sunflower oilcake imports increased at an average annual rate of +218.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+9.1% per year) and France (-0.2% per year).

Import Prices By Country

In 2022, the average sunflower oilcake import price amounted to $351 per ton, surging by 4.9% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower oilcake import price increased by +70.5% against 2017 indices. The growth pace was the most rapid in 2021 when the average import price increased by 37%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($441 per ton), while Belarus ($243 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sunflower Oilcake

In 2022, global sunflower oilcake exports rose markedly to 9.8M tons, picking up by 9.3% on 2021 figures. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 20%. Over the period under review, the global exports reached the maximum at 11M tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sunflower oilcake exports surged to $3B in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.3% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Ukraine (3.3M tons), distantly followed by Russia (1.9M tons), Bulgaria (0.9M tons), Argentina (0.7M tons) and Hungary (0.5M tons) represented the major exporters of sunflower oilcake, together comprising 75% of total exports. Romania (394K tons), the Netherlands (329K tons), Kazakhstan (172K tons), Moldova (168K tons), Latvia (163K tons) and Turkey (153K tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +90.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest sunflower oilcake supplying countries worldwide were Russia ($765M), Ukraine ($762M) and Bulgaria ($322M), with a combined 62% share of global exports. Hungary, Argentina, Romania, the Netherlands, Turkey, Latvia, Moldova and Kazakhstan lagged somewhat behind, together comprising a further 26%.

Latvia, with a CAGR of +99.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average sunflower oilcake export price amounted to $306 per ton, rising by 6.7% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower oilcake export price increased by +75.9% against 2017 indices. The growth pace was the most rapid in 2013 an increase of 35% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($402 per ton), while Argentina ($223 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform