India Edible Oil Market to Grow with a CAGR of 1.5% through 2028
The India edible oil market is influenced by a combination of
factors, including population growth, urbanization, changing dietary habits,
health awareness, and government policies.
According to the TechSci
Research report, “India Edible Oil Market – Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2019-2029F”,
the India Edible Oil market stood at USD4.2 billion in 2023 and is anticipated
to grow with a CAGR of 1.5% in the forecast period, 2025-2029. The India edible
oil market is a critical and dynamic component of the country's food and
agricultural sector. It plays a vital role in meeting the dietary needs of
India's vast and diverse population, making it one of the most significant
segments of the Indian economy.
The history of edible oils in India
dates back centuries, with a rich tradition of oilseed cultivation and oil
extraction. India is one of the oldest producers of edible oils in the world,
with ancient texts mentioning the extraction of oils from various seeds and
nuts.
Traditionally, the Indian subcontinent
has been a major producer of oilseeds, including mustard, groundnut, sesame,
and sunflower. Each region of India has its own set of preferred cooking oils
based on availability and culinary traditions. For example, mustard oil is
commonly used in North India, while coconut oil is popular in the southern
states.
The liberalization of the Indian economy
in the early 1990s had a significant impact on the edible oil sector. It led to
an influx of foreign investments and the entry of multinational corporations
into the market. This period also saw the emergence of branded and packaged
edible oils, changing the way consumers purchased and consumed oils.
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Edible Oil Market.”
India is one of the world's
largest producers of oilseeds. However, despite its significant production
capacity, the country still relies on imports to meet a substantial portion of
its edible oil requirements. The production of oilseeds is influenced by
factors such as monsoon patterns, crop yields, and government policies.
India's diverse population
is reflected in its varied culinary practices and preferences for cooking oils.
Different regions have their own preferred oils based on taste, tradition, and
health considerations. For example, mustard oil is favored in North India,
while groundnut oil is more popular in the western states.
The rapid urbanization of
India has led to changing lifestyles and dietary habits. Urban consumers tend
to favor convenience and packaged edible oils, while rural populations often
rely on traditional oils and loose, unbranded products. Additionally, there is
a growing awareness of health and nutrition among Indian consumers. Many are
seeking edible oils that offer health benefits, such as those rich in
unsaturated fats or fortified with essential nutrients like vitamins A and D.
This has led to increased demand for oils like olive oil and fortified
vegetable oils. Furthermore, government policies and interventions play a
crucial role in the edible oil market. Initiatives such as the National Food
Security Mission (NFSM) and Minimum Support Prices (MSPs) for oilseeds aim to
boost domestic production and reduce import dependency. Import tariffs and
trade policies also influence the competitiveness of imported oils. The retail
landscape in India has evolved significantly, with the proliferation of
supermarkets, hypermarkets, and e-commerce platforms. These modern retail
outlets offer consumers a wide range of choices in edible oils, including
various brands and types of oils.
The India edible oil market is
segmented based on product type, packaging type, sales channel, and region.
Based on the product type, the market is
segmented into mustard oil, soybean oil, sunflower oil, palm oil, olive oil,
and others. Among these, mustard oil has a significant share in the India edible
oil market during the forecast period. Mustard oil is an integral part of
traditional Indian cooking, particularly in North India. It imparts a
distinctive flavor and aroma to dishes, enhancing their taste. It is commonly
used for tempering spices, sautéing vegetables, and frying snacks. Many iconic
North Indian dishes, such as sarson da saag and makki di roti, rely on mustard
oil for their authentic flavors.
Based
on region, the market is segmented into North, South, East, and West. Among
these, the North region has a significant share of the India edible oil market during
the forecast period. The North region is known as one of the primary oilseed
production hubs in India. It cultivates a diverse range of oilseeds, including
mustard, soybean, sunflower, and groundnut. The extensive agricultural
activities in states like Punjab and Haryana contribute significantly to the
availability of raw materials for edible oil extraction and refining.
Major companies operating in the India edible
oil market are:
- Adani Wilmar Limited
- Agro Tech Foods Ltd. (ConAgra Brands Inc.)
- BCL Industries Ltd.
- Bunge India Private Limited
- Cargill India Private Limited
- Emami Agrotech Limited
- Gulab Oil And Foods Pvt. Ltd.
- Mahesh Edible Oil Industries (Saloni Mustard
oil)
- Marico Limited
- Patanjali Ayurved Limited
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“The India edible oil market is a
dynamic and complex landscape shaped by diverse consumer preferences, regional
traditions, health-consciousness, and government policies. As the market
continues to evolve, it presents both challenges and opportunities for players
in the industry. Meeting the dietary needs of a growing population while
addressing concerns related to import dependency, quality control, and
sustainability will be key considerations for the future of the India edible
oil market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“India Edible Oil Market By Product Type (Mustard Oil, Soybean Oil, Sunflower
Oil, Palm Oil, Olive Oil, and Others), By Packaging Type (Pouches, Jars, Cans,
and Bottles), By Sales Channel (Supermarkets/Hypermarkets, Convenience Stores,
Online, and Others), By Region, By Competition Forecast &
Opportunities, 2019-2029F, has evaluated
the future growth potential of the India edible oil market globally and provides statistics and information on market
structure, size, share, and future growth. The report provides cutting-edge
market intelligence and helps decision-makers to make sound investment
decisions. Besides, the report also identifies the emerging trends along with
essential drivers, challenges, and opportunities present in the India edible
oil market.
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