Press release
India Edible Oil Market Size, Share | Industry Report 2024
India Edible Oil Market
Industry at a Glance
Indian edible oil industry is ranked as the 4th leading industry after the U.S., China, and Brazil. Increasing per capita disposable income coupled with rising number of people opting for dining out frequently is a key factor expected to drive market growth over the forecast period. Availability of vitamin premix at subsidy along with rising convenience food consumption is anticipated to further bolster edible oil demand in the country. Effective fortification of products such as Vanaspati mandated with Vitamin A and Vitamin D fortification in 1953 along with recent mandate of 700 IU for every ounce of Vanaspati has been successfully implemented are positive developments shaping industry dynamics.
Major Indian states such as Gujarat, Rajasthan, and Bihar utilize a major quantity of oil for deep frying purposes than as generic cooking oil. Rising income levels among the middle class in aforementioned states have driven the demand for low-fat oils as a result of rising number of chronic disease cases along with increasing awareness among consumers. Strong demand for coconut oil emerging from the southern part of India is also anticipated to foster industry growth over the forecast period.
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Key findings from the study: -
• The edible oil industry in India is widely influenced by various factors such as raw material availability and change in government policies that determine pricing strategies adopted by key industry participants.
• The Indian edible oil market holds large untapped potential and offers lucrative business opportunities for market participants to capitalize on. Population outburst, rising household income along with the emergence of food service sector has stimulated the demand for edible oils at a brisk pace.
• Major companies operating in the Indian edible oil market include The Adani Wilmar Ltd., Cargill Inc., Ruchi Soya Industries Ltd., Agrotech Foods Ltd., Ricela Health, Jhunjhunwala Vanaspati Ltd., ConAgra Foods, Rasoya Proteins, Marico, NK Proteins, Kamani Oil Industries, Bunge Limited, and Gabani Industries.
Market Segmentation
• Edible Oil Market by Product (Volume, Tons; Revenue, USD Million)
• Palm Oil
• Soybean Oil
• Mustard Oil
• Sunflower Oil
• Groundnut Oil
• Rice Bran Oil
• Blended Oil
• Others
• Edible Oil Market by End-Use (Volume, Tons; Revenue, USD Million)
• Retail
• Bakery
• Food Service
• Food Processing
Browse Full Report @ www.ameriresearch.com/product/india-edible-oil-market/
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