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India Vegetable Oil Market To Reach USD 31.74 Million By Year 2030

The India Vegetable Oil Market size was reasonably estimated to be approximately 24.10 Million Metric Ton in 2023 and is poised to consume over 31.74 Million Metric Ton by the end of 2030, projecting a CAGR of around 3.5% from 2023 to 2030.

Swati Kalagate
Food and Beverages
Pristine Intelligence LLP

Market Overview:

The India Vegetable Oil Market size was reasonably estimated to be approximately 24.10 Million Metric Ton in 2023 and is poised to consume over 31.74 Million Metric Ton by the end of 2030, projecting a CAGR of around 3.5% from 2023 to 2030.

India Vegetable oil is a type of edible oil derived from various plant sources, such as seeds, nuts, fruits, or vegetables. It plays a crucial role in cooking, baking, and food preparation worldwide. The extraction process typically involves crushing or pressing the plant's seeds or fruits to obtain the oil, which is then refined to remove impurities. Vegetable oils are rich in essential fatty acids, like omega-3 and omega-6, and they provide a significant source of energy and nutrients in the human diet.

Top Key Players Covered in The Vegetable Oil Market:

    • Adani Wilmar Limited (India)
    • Ruchi Soya Industries Limited (India)
    • Bunge India Private Limited (India)
    • Cargill India Pvt. Ltd. (India)
    • Marico Limited (India)
    • Godrej Agrovet Limited (India)
    • Emami Agrotech Limited (India)
    • Dalmia Continental Private Limited (India)
    • 3F Industries Limited (India)
    • Liberty Oil Mills Limited (India)
    • Pepsico India Holdings Pvt. Ltd. (Quaker Oats) (India)
    • Agro Oils Ltd. (India)
    • Agro Tech Foods Ltd. (India), and Other Major Players

Market Dynamics and Factors:           

Growing awareness regarding the health benefits of vegetable oils compared to animal fats is a significant driver. Consumers are increasingly opting for healthier dietary choices, propelling the demand for vegetable oils. Additionally, the expanding food industry, particularly in emerging economies, fuels market growth as vegetable oils are widely used in food processing and cooking. Moreover, the versatility of vegetable oils in various applications such as cosmetics, biofuels, and pharmaceuticals create new opportunities for market expansion. Technological advancements in extraction methods and sustainable production practices further enhance market prospects by improving efficiency and reducing environmental impact. However, the vegetable oil market faces restraints such as fluctuating prices of raw materials, which can impact profit margins for manufacturers. Environmental concerns related to deforestation and habitat destruction associated with palm oil production pose challenges, leading to regulatory pressures and consumer backlash in some regions.

The Vegetable Oil Market Report Highlight:

    • By Type, Increased awareness of health benefits associated with sunflower oil, such as its high content of unsaturated fats and vitamin E, is driving consumer preferences. Additionally, the versatility of sunflower oil in cooking applications, its relatively lower cost compared to other oils, and a growing trend towards healthier lifestyles are all contributing to its expanding market share in India.
    • By Nature, The rising concerns about health and environmental sustainability, consumers are seeking organic alternatives to conventional vegetable oils. This trend is further fueled by the availability of a variety of organic vegetable oils and the expansion of distribution channels, making organic options more accessible to consumers across different demographics.
    • By Country, India's vegetable oil market is one of the largest and most dynamic in the world. With a population of over 1.3 billion, the country has a significant demand for edible oils used in cooking and food preparation. The market is dominated by oils such as mustard oil, sunflower oil, soybean oil, and groundnut oil. Mustard oil holds a traditional significance in Indian cuisine, while sunflower oil is gaining popularity due to its health benefits.

Key Industry Development:

in February 2023, Cargill India, a subsidiary of the global food corporation Cargill, expanded into the South Indian market through a $35 million acquisition and investment in an existing facility in Nellore, Andhra Pradesh. With this move, Cargill introduced its edible oil brand, Gemini Pureit, in four South Indian states, starting with sunflower oil as its first product.

In May 2022, Ruchi Soya, an edible oil manufacturer, revealed its plan to acquire Acharya Balkrishna's Patanjali Ayurved's food retail business at Rs 690 crore, aligning with its prospectus on the follow-on public offer (FPO) with SEBI. The acquisition will occur in three tranches, with the first tranche involving 15% of the total purchase consideration or Rs 103.50 crore to be paid simultaneously with the execution of the business transfer agreement (BTA) or within three days from the execution of the BTA.

The Vegetable Oil Market Segmentation:

By Type     

    • Palm Oil
    • Soybean Oil
    • Rapeseed Oil
    • Sunflower Oil
    • Olive Oil
    • Others

By Nature 

    • Organic
    • Conventional

By Packaging Type

    • Cans
    • Bottles
    • Pouches
    • Others

By Application

    • Food Industry
    • Pharmaceutical
    • Cosmetics & Personal
    • Animal Feed
    • Industrial

By Distribution Channels

    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Online Retail
    • Wholesale Distributors
    • Specialty Stores

For this report, Pristine Intelligence has segmented the Vegetable Oil Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

 North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Russia
    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • Singapore
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
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