Safflower Seeds Market is anticipated to surpass US$13.982 billion by 2028 at a CAGR of 6.52%

The safflower seeds market is anticipated to grow at a CAGR of 6.52% from US$8.986 billion in 2021 to US$13.982 billion by 2028.

NOIDA, UTTAR PARDESH, INDIA, November 27, 2023 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the safflower seeds market is projected to grow at a CAGR of 6.52% between 2021 and 2028 to reach US$13.982 billion by 2028.

The prime factors propelling the safflower seeds market growth are increasing demand for edible oils, expanding applications in non-food industries, favorable agronomic characteristics, rising health consciousness, and government support.

Safflower seeds, obtained from the Carthamus tinctorius plant, are valued for their high oil content and diverse applications. Safflower oil is a popular culinary oil due to its high smoke point, neutral flavor, and rich source of linoleic acid, an essential omega-6 fatty acid. The growing demand for edible oils, particularly in developing countries, is a major driving force behind the safflower seeds market expansion. Safflower seeds find applications beyond the food industry, including biodiesel production, lubricant manufacturing, and cosmetics. This diversification of demand further stimulates the growth of the safflower seeds market.

The industry is witnessing a wave of collaborations and technological breakthroughs. In April 2023, Australian-owned Plenty Foods launched a unique safflower oil with exceptional cooking properties and favorable health attributes. The Super High Oleic safflower seeds utilized in its production are the first of their kind to be exclusively cultivated in Australia. CSIRO and Grains Research and Development Corporation (GRDC) specifically developed the safflower cultivars for Australian grain producers.

Access sample report or view details: https://www.knowledge-sourcing.com/report/safflower-seeds-market

Based on the application, the safflower seeds market is divided into food and beverage, healthcare, dietary supplements, cosmetics, and others. The food and beverage segment is expected to witness the fastest growth in the safflower seeds market. This is primarily due to the increasing demand for edible oils, particularly in developing countries. Safflower oil is a popular choice for cooking due to its high smoke point, neutral flavor, and rich source of linoleic acid, an essential omega-6 fatty acid. The growing demand for healthier oils and fats, coupled with the rising awareness of safflower oil’s health benefits, is further fueling the growth of this segment.

Based on the distribution channel, the safflower seeds market is divided into online mode and offline mode. The online mode of distribution has witnessed significant growth in the safflower seeds market, primarily driven by the increasing internet penetration and consumer preference for convenient and hassle-free shopping experiences. Online platforms offer a wider variety of safflower seeds from different brands and regions, enabling consumers to compare prices and product specifications before making a purchase. Additionally, online retailers often provide detailed product information, customer reviews, and easy return policies, further enhancing the shopping experience.

Based on the form, the safflower seeds market is divided into cooking and non-cooking. The non-cooking segment of the safflower seeds market is expected to experience faster growth compared to the cooking segment in the coming years. Safflower seeds are being increasingly used in the production of biodiesel, lubricants, and cosmetics. These applications are expected to grow as the demand for sustainable and environmentally friendly products increases. Safflower seeds are a good source of protein, fiber, and essential fatty acids. This growing awareness of their nutritional value is leading to increased demand for safflower seeds in various food and beverage applications.

Based on Geography, Europe is poised to dominate the safflower seeds market. The European Union (EU) is a major consumer of edible oils, and safflower oil is becoming increasingly popular due to its high smoke point, neutral flavor, and nutritional profile. Several European countries, including Russia, Ukraine, and Kazakhstan, are among the world’s top producers of safflower seeds. This local production provides a stable supply of safflower seeds to the European market. Consumers in Europe are becoming increasingly aware of the health benefits of safflower oil, including its high content of monounsaturated fats and vitamin E. This growing awareness is expected to boost demand for safflower oil in Europe.

As a part of the report, the major players operating in the safflower seeds market, that have been covered are Adams Group, Pramoda Exim, Herbex Exports Pvt. Ltd., and Namo Foods.

The market analytics report segments the safflower seeds market using the following criteria:

• BY APPLICATIONS

o Food & Beverage

o Healthcare

o Dietary Supplements

o Cosmetics

o Others

• BY DISTRIBUTION CHANNEL

o Online Mode

o Offline Mode

• BY FORM

o Cooking

o Non-Cooking

• BY GEOGRAPHY

o North America

• United States

• Canada

• Mexico

o South America

• Brazil

• Argentina

• Others

o Europe

• United Kingdom

• Germany

• France

• Spain

• Others

o Middle East and Africa

• Saudi Arabia

• UAE

• Israel

• Others

o Asia Pacific

• Japan

• China

• India

• South Korea

• Indonesia

• Thailand

• Others

Companies Profiled:

• Adams Group

• Pramoda Exim

• Herbex Exports Pvt. Ltd.

• Namo Foods

Explore More Reports:

• Hybrid Seeds Market: https://www.knowledge-sourcing.com/report/hybrid-seeds-market

• Pumpkin Seeds Market: https://www.knowledge-sourcing.com/report/global-pumpkin-seeds-market

• Poppy Seeds Market: https://www.knowledge-sourcing.com/report/poppy-seeds-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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