India Vegetable Oil Market to Grow at a CAGR of 14.30% During 2024-2032, Aided by the Robust Growth of the Food and Beverage Industry

The market for vegetable oil in India is being aided by the extensive use of vegetable oils in the food and beverage industry. With the rising demand for processed food products owing to the increasing disposable income, vegetable oils are increasingly deployed, which is significantly contributing to the market growth. As traditional Indian cuisine is based on frying and baking, the demand for vegetable oils is increasing, hence augmenting the market growth. Moreover, the increasing use of vegetable oils in biofuels is augmenting the growth of the market. As the concerns regarding rapid climate change, the use of vegetable oils is expected to grow, which is anticipated to augment the industry growth in the forecast period.

Some of the leading companies in the market are Marico Limited (NSE: MARICO) and Cargill. The latter acquired an edible oil refinery in Nellore, Andhra Pradesh, in November 2021. The company acquired the oil refinery for USD 35 million to enhance its consumer offerings while expanding its edible oil production capacity. The acquisition is expected to enable the company to strengthen its existing supply chain and meet the rising consumer demand, especially in the southern region. It is also estimated to enable the company to supply palm olein, refined palm oil, sunflower oil, and hydrogenated oil, among others. It is also predicted to increase the production and packaging of its edible oil brands to enhance its offering to bakery and foodservice consumers. Such expansions and acquisitions are increasing the domestic production of vegetable oils, which are propelling the market growth.

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Market Analysis by Type, Application, and Region:

• The market, on the basis of type, can be divided into soybean oil, palm oil, sunflower oil, mustard oil/rapeseed oil, vegetable oil, and rice bran oil, among others.

• Based on application, the industry can be divided into food, industrial, and biofuel, among others.

• The regional markets for vegetable oil in India include North India, East India, West India, and South India.

Key Findings of the Report:

• The increasing use of palm oil owing to its versatility and cost-effectiveness in the food processing industry is propelling the market growth.

• The market is being aided by the growing domestic production of vegetable oils to meet the rising oil demand in the country.

• The increasing demand for healthy vegetable oils owing to the rising prevalence of various health-related issues is augmenting the industry growth.

• The growing adoption of innovative techniques to boost the sustainable production of oilseeds is providing impetus to the growth of the vegetable oil industry.

Key Offerings of the Report:

• The EMR report gives an overview of the India market for vegetable oil for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of vegetable oil in India.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India vegetable oil market are Adani Wilmar Limited, Ruchi Soya Industries Limited, Bunge Ltd., Marico Limited, Cargill, Incorporated, Patanjali Ayurved Limited, Emami Agrotech Ltd., and Mother Dairy Fruit & Vegetable Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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