The sunflowerseed oil market in Australia stood at 5 Thousand Metric Tons in 2023. Historically, the market experienced significant fluctuations, with a notable drop of 37.5% in 2015 followed by a slight recovery in 2016. Steady volumes of 6 Thousand Metric Tons were observed from 2017 to 2021, but 2022 saw a 16.67% decline, returning to 5 Thousand Metric Tons in 2023. The latest Compound Annual Growth Rate (CAGR) from 2019 to 2023 is -3.58%, indicating a declining market.
Forecasts to 2028 predict continual decline with a forecasted CAGR of -4.36%, suggesting the market will further contract by 20% to reach 4 Thousand Metric Tons.
Future trends to watch for:
- Changes in consumer preferences around healthier and alternative cooking oils.
- Potential impact of climate change on sunflower crop yields.
- Economic factors influencing import vs. domestic production decisions.
