Felton, CA – Projected to hit $30.1 billion in the coming six years, the global sunflower seeds market is anticipated to have a compound annual growth rate of 3.4 percent between 2017 and 2025, according to Hexa Research, Inc.
Nutritional content of sunflower seeds combined with increases use as an ingredient are driving the market, according to the research company. Usage in edible oil production accounted for more than half of the market in 2017. While use in edible oils is expected to increase, demand for confectionery-grade seeds is also growing. This is particularly true of European markets, which accounted for more than 70 percent of the worldwide sunflower seed market in 2017.
Demand from baking industries is expected to grow more than 4 percent during the forecast period, according to Hexa Research. Additionally, the increasing prevalence of smartphones and internet access will drive ecommerce sales for the sector, with online rings anticipated to increase more than 4 percent during the period.