January 08, 2021
According to the research report titled ‘Global Sunflower Meal Market Size study, By Form (Pellets, Cakes, Ground up Powder) by End Use (Ruminants, Swine, Poultry), by Source (Decorticated sunflower seeds, Whole sunflower seeds) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global sunflower meal market was valued at USD 5.5 billion in 2019 and is expected to grow with a CAGR of 6.05% during 2020-2027.
Booming population and ever-increasing food demand leading to flourishing livestock and animal feed sector is primarily fueling the growth of global sunflower meal market. As per the predictions by Food & Agriculture Organization (FAO) of the United Nations, there will be 60% rise in demand for food by 2050, and the animal protein production is projected to surge by 1.7 % per year over 2010-2050, with escalation in meat production by 70%, milk by 55%, and aquaculture by 90%.
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Further, high conversion ratio offered by sunflower meal as well as economic feasibility are also contributing to the market growth. High nutritional content with respect to protein and fiber, alongside product usage as feed ingredient are propelling the global sunflower meal industry growth.
However, restriction on consumption of non-hulled sunflower meal in adult ruminant diets may hamper the market growth in coming years. Despite that, shifting consumer preference towards oilseed meals for livestock due to cost viability in major livestock and feed producing regions is expected to create opportunities for global sunflower meal market partakers over the forecast period.
From a regional frame of reference, India and Vietnam sunflower meal markets are currently witnessing large product imports, mainly due to rising demand for protein-rich feed alternatives that are inexpensive, as well as escalation in livestock production.
Major players operating in global sunflower meal market sphere include VIOIL Holding S.A., Wilmar International Ltd., Archer Daniels Midland Company, Pology Oil Extraction Plant PJSC, Aston Martin Lagonda Global Holdings plc, Optimus Agro Holding Ltd., S.V.M.A Agro Products Pvt. Ltd., Cargill Incorporated, Melitopol Oil Extraction Plant LLC, and Allseeds Group.