India Edible Oil Market Analysis and Forecast, 2019-2028 – In-depth Market Report by Rational Stat
The report entitled “Edible Oil Market” assesses India and the regional market according to the type of product, packaging type, and packaging materials distribution channel, as well as the region. A thorough report offers a thorough analysis of the market’s historical and projected size, along with trend analysis.
The report provides an analysis of the market share capacity of production by the top player’s competitive overview, strategic imperatives annual sales figures expansion avenues production overview, and evaluation of competition for the main players in the study of the edible oil market.
The Edible Oil Market and Its Dynamics
The consumption of edible oils increased continuously throughout the Forecast Period.
It is estimated that the Indian marketplace for edible oils is anticipated to expand at a CAGR of approximately 1.3 percent during the period 2022-2028. Health concerns are rising in the market for the prevalence of coronary heart ailments as well as obesity, diabetes, gastrointestinal diseases, and so on. in conjunction with the evolving lifestyle and the increase in disposable incomes encourage the consumption of packaged edible oil.
The Indian market for edible oils is anticipated to expand at a steady rate in the coming years due to the substantial government effort to concentrate on internal manufacturing of edible oil, growing demand from the population that is growing as well as the growing awareness of various advantages of organic and low-cholesterol edible oils, increasing urbanization, and an increase in disposable income.
Furthermore, there is a strong effort by the Indian government is making continuous efforts to improve the domestic supply of edible oils and reduce dependence on imports to meet its consumption needs. For instance, the government has proposed an initiative called the National Mission on Edible Oil (NMEO) to satisfy the demand of the country for edible oils.
Based on the data released in the Department of Agriculture & Farmers Welfare Ministry of Agriculture & Farmers Welfare Government of India In South India, Andhra Pradesh, Telangana, and Kerala are the largest Oil palm-growing States. They comprise 98 percent of all production. Karnataka, Tamil Nadu, Odisha, Gujarat, and Mizoram are also among the states with a large land area that is under cultivation of Oil palm. Recently, Arunachal Pradesh Assam, Manipur, and Nagaland have also started the Plantation of Oil palms. According to RationalStat Analysis, West and Central India dominate the nation’s edible oil market, due to the higher consumption of healthy oil.
- As for the nature of palm oil, it is expected to expand at a substantial rate over the next few years. In addition, of the edible oils that are imported into the world, the percentage that is made up of palm oils amounts to around 56%, which is followed by soybean oil which is 27%, and sunflower with 16 percent.
- Based on the region, west and central India will be the dominant market for edible oil due to the increased focus on products that are healthy and beneficial.
- Based on the types of packaging they are the most popular packaging option due to their ease of carrying as well as their compatibility and ease of storage.
- When it comes to distribution channels offline retail dominates this Indian marketplace for edible oils. However, the distribution channel online is expanding at a rapid rise in recent times. Because of the rising internet-based retail marketplace in India.
Competition Analysis: India’s Edible Oil Market is Fragmented in Nature
The Indian edible oil market observes intense competition. As a result of a presence of a significant number of established players and a large number of local and regional players. Prominent players are focusing on acquiring small companies to increase their geographical reach. Product innovations, launches, and partnerships are the identified industry trend in the Indian edible oil market.
- In January 2022, Adani Wilmar announced the acquisition of southern players in edible oil with a corpus of INR 450 crores. The reason behind this plan is to grow its geographical presence in South India. Adani Wilmar has a market share of 18.3% in the edible oil business while the 60% of the market is still fragmented.
- In December 2021, US food major Cargill has acquired an edible oil refinery located in Andhra Pradesh. The newly acquired refinery gives Cargill the capability to supply refined palm oil, palm olein, vanaspati, and sunflower oil.
Some of the leading players involved in the edible oil market include Adani Wilmar Ltd., Mother Dairy Fruits and Vegetables Pvt. Ltd., Cargill India, Patanjali Ayurved Ltd.., Emami Agrotech Ltd., BCL Industries Ltd., Gemini Edibles & Fats India Ltd., Indian Broiler Group Pvt. Ltd., Liberty Oil Mills Ltd., Vijay Solvex Ltd., ADM Agro Industries India Pvt. Ltd., and Gokul Agro Resources Ltd. among others.
RationalStat Segmentation of India’s Edible Oil Market
RationalStat has segmented the India edible oil market based on type, packaging type, packaging material, distribution channel, and region
- By Type
- Palm Oil
- Soyabean Oil
- Mustard Oil
- Sunflower Oil
- Others (Coconut Oil)
- By Packaging Type
- PET Bottles
- HDPE Bottles
- Other Plastic Bottles
- Others (Cans)
- By Packaging Material
- Rigid Plastic
- Flexible Packaging
- Others (Glass)
- By Distribution Channel
- Conventional Retail
- Modern Retail
- Specialty Store
- Online Retail/E-commerce
- Departmental Store
- By Region
- North India
- West and Central India
- South India
- East India
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company. It provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.
Kimberly Shaw, Content and Press Manager
Phone: +1 302 803 5429