Global Packaged Sunflower Seeds Market Overview
The key driver impacting the packaged sunflower seeds market is the rapidly growing demand for ready-to-eat (RTE) food products with shifting preference towards functional food and healthy snacks worldwide. The growing focus towards taking healthy snacks is likely to create more packaged sunflower seeds demand in the forecast period as such packaged snacks are brilliant sources of vitamin E, fat-soluble antioxidants, healthy fats, and fibers. For instance, According to the Institute of Food Technologists studies, progressively more consumers are choosing to buy foods and beverages that have specific healthy ingredients. Fiber, protein, calcium, vitamin D, nuts/seeds, and whole grains are healthy ingredients that over half of consumers want to enhance in their diet. Globally, naturally healthy food sales were $259 billion, fortified/functional food sales reached $267 billion healthy food sales of $259 billion in February 2020. In the U.S., sales arrived at $42 and $63 billion, respectively. The Asia Pacific persists in leading global health/wellness growth in the food and nutrition sector. Moreover, the growing popularity of sunflower seeds among sportsmen, particularly baseball players, as an alternative to chewing tobacco is estimated to be a significant factor that positively impacts market growth.
According to Value Market Research, the global packaged sunflower seeds market size was valued at around USD 1100 million in 2020 and is estimated to grow at a CAGR of about 7% during the forecast period of 2021 to 2027.
The availability of an extensive range of flavors attracting consumers is estimated to augment packaged sunflower seeds demand in the forecast period. for instance, in April 2018, a famous brand of conagra brands, Inc, “BIGS,” launched its taco bell-inspired flavored product, called BIGS taco bell taco supreme. the product is made with U.S.-grown seeds flavored with spicy taco flavor. However, the availability of cheaper substitutes may hamper the global packaged sunflower seeds market in the long run. The current industry trends, such as the packaged sunflower seeds, are gaining traction as a functional snack, and growing awareness about the nutritional value of sunflower seeds are expected to provide market players with several market opportunities.
The packaged sunflower seeds market is vast, with many local and global players. the key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to improve their market share globally. the known players included in the report are Conagra Brands, Inc., The Kraft Heinz Company, Chinook Seedery, Waymouth Farms, Inc., GIANT Snacks Inc, Frito-Lay North America, Inc. (PepsiCo), Sincerely Nuts, Flaper S.A., Dakota Style Foods, REALFOODSOURCE LTD.
In this research report, the packaged sunflower seeds market is segmented by product, distribution channel, and region.
Analysis by Product:
By product, the report is categorized into plain, salted, ranch-flavored, BBQ flavored, dill pickle flavored, other flavored. Salted product type dominates the type segment with over 35% share in 2020. It is due to the growing popularity of roasted and salted sunflower seeds among consumers. Moreover, the rising consumption of healthy food contributes to the high demand for packaged sunflower seeds in the forecast period.
Analysis by Distribution Channel:
By distribution channel, the report is categorized online and offline. The offline segment dominates the distribution channel segment with over 80% share in 2020. It is due to the growing preference of consumers for retail outlets as it has a wide range of products in one place with appealing offers and discounts. Moreover, the rising number of specialty stores, convenience stores, hypermarkets, and supermarkets across the globe drives the market demand from offline channels in the forecast period.
Analysis by Region:
In the regional outlook of the global packaged sunflower seeds market, the Europe region dominates with a 30% market share during the forecast period. The growing consumer preference in Spain for roasted, salted, and in-shelled products with rising for convenience foods and functional snacks in Western Europe is the critical factor driving regional growth. Moreover, high availability of sunflower seeds as Europe is the largest producer of sunflower seeds globally. Ukraine, Russia, Bulgaria, and Turkey are the top producers in the region that contribute to the development of the packaged sunflower seeds market across Europe.
Market Segmentation covered in the Report:
By Distribution Channel
- Ranch Flavored
- BBQ Flavored
- Dill Pickle Flavored
- Other Flavored
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.