Global sunflower protein market to reach $156.3 million by 2030: Allied Market Research

Increase in consumption of nutraceuticals, rise in awareness regarding lifestyle diseases, and surge in demand for vegan protein drive the growth of the global sunflower protein market. North America accounted for the highest share in 2020, and is expected to maintain its lead position in terms of revenue by 2030. The demand for sunflower protein increased during the Covid-19 pandemic as people needed to boost immunity and maintain a healthy lifestyle.

Portland, OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sunflower protein market generated $70.4 million in 2020, and is expected to reach $156.3 million by 2030, witnessing a CAGR of 8.8% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Increase in consumption of nutraceuticals, rise in awareness regarding lifestyle diseases, and surge in demand for vegan protein drive the growth of the global sunflower protein market. However, ease in availability of substitutes and high processing costs hinder the market growth. On the other hand, availability as a meat alternative and demand for sports drinks with natural protein ingredients create new opportunities in the coming years.

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Covid-19 Scenario:

• The demand for food supplements increased during the Covid-19 pandemic as people needed to boost immunity and maintain a healthy lifestyle. This led to increased demand for products containing sunflower protein.

• However, interruptions in manufacturing activities of supplements and animal feed and disruptions in the supply chain reduced the demand for sunflower protein during the initial phases of the pandemic. The demand is expected to rise post-lockdown as restrictions are lifted off.

The report offers detailed segmentation of the global sunflower protein market based on type, application, and region.

Based on type, the conventional segment contributed to the highest share in 2020, accounting for around 95% of the total share, and is estimated to continue its leadership status during the forecast period. However, the organic segment is expected to manifest the highest CAGR of 10.0% from 2021 to 2030.

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Based on application, the nutraceuticals segment held the largest share in 2020, contributing to around 88% of the total share of the global sunflower protein market, and is projected to maintain its dominant share during the forecast period. However, the food segment is estimated to witness the largest CAGR of 10.7% from 2021 to 2030.

Based on region, North America accounted for the highest share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain its lead position in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the fastest CAGR of 11.0% during the forecast period.

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Leading players of the global sunflower protein market analyzed in the research include ETChem, Cambridge Commodities ltd., Austrade Inc., Kramerbräu Saaten und Öle GmbH, Sunbloom Proteins GmbH, Tradin Organic Agriculture B.V., Elite, Ingredients, LLC, Clearspring Ltd, Organicway Inc., and Bio Technologies LLC.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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