Sunflower Seed Market

The article provides a comprehensive analysis of the global sunflower seed market, with insights into consumption, production, imports, exports, and prices from 2012 to 2022. The market is expected to continue its upward trend, with forecasts indicating a CAGR of +3.9% in consumption and +4.9% in value from 2022 to 2030. Key countries driving market growth include Russia, Ukraine, and Argentina. The report also highlights trends in per capita consumption, production volumes, harvested areas, and import and export dynamics. Overall, the sunflower seed market is projected to expand significantly in the coming years, presenting opportunities for producers, importers, and exporters.

Market Forecast

Driven by increasing demand for sunflower seed worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 73M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $72B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sunflower Seed

In 2022, global consumption of sunflower seed dropped to 54M tons, declining by -7.5% compared with 2021. The total consumption volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption attained the maximum volume at 58M tons in 2021, and then shrank in the following year.

The global sunflower seed market revenue dropped to $49.2B in 2022, waning by -5.1% 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). The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $51.9B, and then fell in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (16M tons), Ukraine (8.6M tons) and Argentina (3.9M tons), together accounting for 53% of global consumption. Turkey, Bulgaria, China, Hungary, Spain, the United States, France, Romania, Tanzania and Kazakhstan lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +15.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($8.8B), Turkey ($5.9B) and Ukraine ($4.4B) were the countries with the highest levels of market value in 2022, together comprising 39% of the global market. The United States, Spain, China, Argentina, Bulgaria, Hungary, France, Tanzania, Romania and Kazakhstan lagged somewhat behind, together accounting for a further 41%.

Among the main consuming countries, Bulgaria, with a CAGR of +16.2%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of sunflower seed per capita consumption was registered in Bulgaria (413 kg per person), followed by Ukraine (197 kg per person), Hungary (181 kg per person) and Russia (112 kg per person), while the world average per capita consumption of sunflower seed was estimated at 6.8 kg per person.

In Bulgaria, sunflower seed per capita consumption increased at an average annual rate of +16.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Ukraine (+1.0% per year) and Hungary (+8.7% per year).

Production

World Production of Sunflower Seed

In 2022, approx. 54M tons of sunflower seed were produced worldwide; declining by -6.3% against the previous year. The total output volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Over the period under review, global production reached the maximum volume at 58M tons in 2021, and then reduced in the following year. The general positive trend in terms output was largely conditioned by a moderate increase of the harvested area and notable growth in yield figures.

In value terms, sunflower seed production contracted to $45.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by 38% against the previous year. As a result, production attained the peak level of $52.6B, and then contracted in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were Russia (16M tons), Ukraine (11M tons) and Argentina (4.1M tons), together comprising 58% of global production. China, Turkey, Bulgaria, Romania, France, Kazakhstan, Hungary, the United States, Tanzania and South Africa lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Kazakhstan (with a CAGR of +12.5%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average sunflower seed yield declined to 1.9 tons per ha in 2022, dropping by -5.8% against 2021 figures. The yield figure increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 18%. The global yield peaked at 2.1 tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure.

Harvested Area

In 2022, the global sunflower seed harvested area fell to 29M ha, approximately reflecting 2021. The harvested area increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 7.3% against the previous year. Over the period under review, the harvested area dedicated to sunflower seed production attained the peak figure at 29M ha in 2021, and then contracted in the following year.

Imports

World Imports of Sunflower Seed

In 2022, purchases abroad of sunflower seed was finally on the rise to reach 7.7M tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sunflower seed imports surged to $7.5B in 2022. In general, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Bulgaria (1.3M tons), followed by Turkey (826K tons), Hungary (704K tons), the Netherlands (654K tons), Romania (653K tons) and Spain (539K tons) represented the key importers of sunflower seed, together creating 61% of total imports. Germany (348K tons), Portugal (299K tons), the Czech Republic (195K tons), France (181K tons), Austria (157K tons), Italy (145K tons) and Belgium (145K 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 Bulgaria (with a CAGR of +59.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Bulgaria ($1B), Turkey ($648M) and the Netherlands ($601M) constituted the countries with the highest levels of imports in 2022, with a combined 30% share of global imports.

Bulgaria, with a CAGR of +34.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average sunflower seed import price amounted to $965 per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $973 per ton, leveling off in the following year.

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 Austria ($1,351 per ton), while the Czech Republic ($710 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sunflower Seed

In 2022, overseas shipments of sunflower seed were finally on the rise to reach 8.3M tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sunflower seed exports skyrocketed to $6.8B in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +118.7% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

Ukraine represented the major exporting country with an export of about 2.8M tons, which amounted to 33% of total exports. Romania (1,456K tons) took the second position in the ranking, distantly followed by Bulgaria (660K tons), France (657K tons), China (445K tons) and Moldova (434K tons). All these countries together took near 44% share of total exports. Kazakhstan (347K tons), Russia (274K tons), Hungary (238K tons), Slovakia (170K tons) and Argentina (156K tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +25.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest sunflower seed supplying countries worldwide were Ukraine ($1.3B), Romania ($1.2B) and Bulgaria ($729M), together accounting for 46% of global exports.

Ukraine, with a CAGR of +22.5%, 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 seed export price amounted to $820 per ton, with a decrease of -13.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 38%. As a result, the export price reached the peak level of $944 per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($1,527 per ton), while Russia ($424 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+5.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform