India Edible Oils Market: Market Estimation & Definition

The India Edible Oils Industry was valued at US $4.31 billion in 2023 and is expected to grow at a CAGR of 6.82%, reaching US $6.84 billion by 2030. Edible oils refer to oils extracted from seeds and oilseeds such as palm, soybean, mustard, sunflower, coconut, sesame, rice-bran, and other sources. These oils are integral to Indian households, food processing industries, and the growing organized retail segment.

Market Overview:

Oilseeds & edible oils are 2 of the most vital produces. India is one of the major manufacturers of oilseeds in the world & this segment conquers a significant place in the agricultural business, accounting for the expected procurement of 36.56 MT of nine new oilseeds throughout the year 2020-21. As per the MMR report study for Indian Edible Oils Market.

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Growing production:

Based on MMR estimations 3.6 MTs of additional oils can be made by means of linking the yield gap, assuming 1.5 tons/hectare as a feasible yield. This needs the extensive scale acceptance of enhanced agricultural technologies such as quality seeds, best usage of agrochemicals & better management. Substitutes like rice bran oil are gaining popularity among urban customers, as it is known to decrease the risk of heart cases & type 2 diabetes. Rice bran establishes about 8.5 % of the total procurement of rice & has around 15 % content. Around 2 MT of the edible oil can be made using the existing rice bran. According to the MMR report, India has the potential to increase the zone under oil palm by 1.9 Mn hectares, which can make about 7.6 MT of additional edible oil.

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Types of Oils usually in use in Country:

India is privileged in consuming a wide variety of oilseeds crops grown in its various agro-climatic areas. Groundnut, Sesame, linseed, castor are the main usually cultivated oilseeds. Soybean & sunflower have also been considered major places in the edible oil market. Coconut is the most significant amongst the farm crops. Efforts are being made to raise oil palm in AP, Karnataka, Tamil Nadu & North-Eastern parts of India in adding to Kerala & Andaman and the Nicobar Islands. Among the non-conventional oils, rice bran oil & cottonseed oil are the supreme. In addition, oilseeds of tree & forest sources, which raise mostly in tribal populated zones, are also a major source of oils. Figures relating to the expected production of key cultivated oilseeds, obtainability of edible oils from all local sources during the past 10 years & the current year are as below.

India is a huge nation & populations of numerous of its zones have established specific inclination for certain oils mostly depending upon the oils offered in the area. For instance, individuals in South India & West India choose groundnut oil while people in the East & North use mustard oil, rapeseed oil. Similarly, numerous pockets in South India have an inclination for coconut & sesame oil. Populations of the northern zone are the main customers of fats & therefore choose Vanaspati, a term used to signify a moderately hydrogenated edible oil combination of oils like soybean, sunflower, rice bran & cottonseed oils. Some new tree oils & forest source have found their way to the edible group mainly over the Vanaspati route. Of late, things have transformed. Through current technical means like physical refining, bleaching all oils have been reduced almost colorless, odorless & tasteless & therefore, have become simply identical in the kitchen. The share of, refined oil, raw oil, and Vanaspati in the entire edible oil market is expected approximately at 60 percent, 35 percent & 5 percent respectively. Around 56 percent of the local demand for edible oils is met over imports out of which palmolein establishes around 54 percent.

Segmentation Analysis

The edible oils market in India is segmented as follows:

by Type

Palm Oil
Soybean Oil
Mustard Oil
Sunflower Oil
Others

by Packaging Type

Pouches
Jars
Cans
Bottles

by Distribution Channel

Direct/Institutional Sales
Supermarkets and Hypermarkets
Convenience Stores
Online
Others

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MMR Viewpoint:

According to the MMR report study, the Indian edible oils market is anticipated to improve at a significant rate with South India & East India holding the supreme development potential throughout the forecast period in the overall edible oils market. A rise in inventions in equipment & the growth of new items like organic & low-cholesterol oils together with health welfares is motivating the demand for edible oils throughout the globe. Market companies are capitalizing in M&A, and are using their knowledge in the use of the new technology will deliver gain profitability & momentum in the worldwide edible oils market. However, the extra costs related to the processing of oils could hamper the development of the edible oils market.

In a huge demand-based business, the major edible oil firms in the world are always winning the race. The edible oil business is marked with moving customer tastes & inclinations. Lifestyle variations, fads & trends - all of it touches the landscape of the market. Consumer attitudes towards various edible oils, sweeteners & fats may differ along with trends. Health concerns are also in the front, & consumers may choose oil such as soybean & sunflower to others as these are measured healthier for the heart. Thus, demand forms an enormous driver of revenue in the market. Margins are also affected by raw material prices, accessing farm subsidies, & operating proficiencies. Here’s where big companies have an edge in big scale raw material buying advantages & huge scale of supply & advertising networks at their disposal.

key player

1. KSE
2. Ruchi Soya Industries Ltd
3. Gokul Agro Resources Ltd.
4. Gujarat Ambuja Exports Ltd.
5. Gokul Refoils And Solvent Ltd.
6. Vijay Solvex Ltd.
7. BCL Industries Ltd.
8. Agro Tech Foods Ltd.
9. Anik Industries Ltd.
10. Kriti Nutrients
11. Fortune by Adani Group
12. Sundrop by Agro Tech Foods
13. Dhara by Mother Dairy
14. Dalda by Bunge Limited
15. Cargill (Gemini, Nature Fresh and Sweekar).

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