The Indian sunflower seed oil market has shown significant fluctuations and growth over the past decade. From an initial volume of 1.63 million metric tons in 2014, the market faced a notable decline in 2015 and 2016, with a -6.58% and -17.72% year-on-year drop respectively. However, the market rebounded dramatically by 54.76% in 2017 and continued to grow, reaching 2.63 million metric tons in 2023, marking a 2.54% year-on-year increase from the previous year.
Over the last five years, the market showed an average annual growth rate (CAGR) of 0.91%. With forecasted data indicating a volume of 2.94 million metric tons by 2028, the market is expected to grow at a CAGR of 1.76% from 2024 to 2028, representing a forecasted growth rate of 9.1% over this period.
The future trends to watch for in the Indian sunflower seed oil market include the following:
- Increasing health consciousness driving demand for sunflower oil as a healthier option.
- Potential fluctuations in production volume due to climatic conditions impacting sunflower crop yields.
- Changes in import-export policies affecting the supply chain and market prices.
- Technological advancements in oil extraction and processing improving overall efficiency.
