India Palm Oil Market Size to Grow at 5.6% During 2023-2028
Palm oil represents an edible vegetable oil that is naturally extracted from the mesocarp of palm fruits. It is rich in carotenoids, vitamins A and E, antioxidants, etc. In line with this, palm oil is cholesterol-free and easy to digest. In terms of pack size, it is commonly available in pouches, jars, bottles, cans, etc. Palm oil has a longer shelf-life and is more cost-effective than other vegetable oils in the market. Consequently, it finds wide-ranging applications in numerous sectors, including food processing, personal care, biofuels, animal feed, etc., across India.
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India Palm Oil Market Trends and Drivers:
The escalating demand for processed food products is among the key factors driving the India palm oil market. In line with this, the inflating levels of urbanization and the improving living standards of individuals are acting as significant growth-inducing factors. Additionally, the increasing utilization of palm oil in several non-food applications, including surfactants, personal care products, agrochemicals, etc., is also catalyzing the market growth across the country. Besides this, the rising consumer awareness towards the health benefits offered by palm oil is acting as another significant growth-inducing factor. Moreover, it prevents premature aging, boosts the immune system, improves vision, reduces the risk of cardiovascular diseases, enhances energy levels, etc. Apart from this, the growing need for biodiesel, which involves palm oil during production, is propelling the market growth. Furthermore, leading manufacturers are introducing fortified variants rich in polyunsaturated fatty acids to mitigate vitamin A deficiency, which is anticipated to fuel the India palm oil market over the forecasted period.
The report has segmented the market into the following categories:
Breakup by Packaging Type:
Breakup by Packaging Material:
Breakup by Pack Size:
Less than 1 Litres
1 Litres - 5 litres
5 Litres - 10 Litres
10 Litres and Above
Breakup by Domestic Manufacturing/Imports:
Breakup by Application:
Food Processing Industry
Personal Care Products
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Breakup by Region:
West and Central India
The competitive landscape of the market has also been analyzed, with some of the top leading palm oil manufacturers in india.
For more information about this report visit: https://www.imarcgroup.com/india-palm-oil-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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