Reports
India Vegetable Oil Market: By Type: Soybean Oil, Palm Oil, Sunflower Oil, Mustard Oil/Rapeseed Oil, Vegetable Oil, Rice Bran Oil, Others; By Application: Food, Industrial, Biofuel, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
India Vegetable Oil Market Outlook
The India vegetable oil market attained a volume of about 25.66 MMT in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 14.30% to reach nearly 57.22 MMT by 2027.
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Extensive Use of Palm Oil in Cooking Bolstering the Market Growth of Vegetable Oil in India
The extensive consumption of palm oil in India is augmenting the market for vegetable oil. The versatility and cost-effectiveness offered by palm oil are also propelling the growth of the market. With the growing demand for food and consumer products like soaps, ice creams, and lipsticks, the consumption of palm oil is increasing, thereby driving the market growth. In addition, the robust growth of the foodservice industry owing to the rising disposable income in the country is surging the use of palm oil, which is providing further impetus to the growth of the vegetable oil industry in India.
As India is one of the leading importers of vegetable oils, the government is increasingly attempting to increase their domestic production and enhance cost-efficiency, which is propelling the market growth. For instance, in August 2021, the Indian government announced the National Edible Oil Mission-Oil Palm (NMEO-OP) and an investment of INR 11,000 crore to enhance domestic oilseed production. Moreover, the increasing arable land, the adoption of innovative techniques to boost yield, and the utilisation of agrochemicals, among others, are also increasing the production of oilseeds, hence bolstering the growth of the market.
Vegetable Oil: Market Segmentation
Vegetable oil, variously known as vegetable fat, refers to the oil that is extracted from the seeds or other parts of a plant. It is typically used in roasting, cooking, marinating, frying, baking, and seasoning food and beverages. Vegetable oils are also used in various industries like cosmetics and personal care, as well as pharmaceuticals, among others.
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The major types of vegetable oil are:
- Soybean Oil
- Palm Oil
- Sunflower Oil
- Mustard Oil/Rapeseed Oil
- Vegetable Oil
- Rice Bran Oil
- Others
The market can be broadly categorised on the basis of its applications into:
- Food
- Industrial
- Biofuel
- Others
The EMR report looks into the regional markets of vegetable oil in India like North India, West India, South India, and East India.
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Growing Demand for Healthy Vegetable Oils to Augment the Growth of the Vegetable Oil Industry
The growing prevalence of various health-related issues such as diabetes, hyperthermia, and cancer, among others, in the country is surging the demand for healthy vegetable oils like sunflower, mustard, and soybean oils, among others. As consumers are increasingly preferring vegetable oils with health benefits, the demand for such oils is surging, hence driving the industry growth. With the increasing consumption of organic food, the use of healthy vegetable oils is surging in the processed food industry, thus fuelling the industry growth.
The growing focus on rapid climate change is leading to a surge in the adoption of innovative measures to boost the sustainable production of oilseeds. This is significantly increasing the production of oilseeds of soybean and sunflower oils, which is augmenting the market for vegetable oil. Moreover, the government is introducing various favourable initiatives to provide support to small farmers for sustainable production of vegetable oils, hence fuelling the growth of the market. Various leading companies are increasingly investing in utilising sustainable vegetable oils, which is estimated to further invigorate the growth of the market in the coming years.
Key Industry Players in the India Vegetable Oil Market
The report presents a detailed analysis of the following key players in the India vegetable oil market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Adani Wilmar Limited
- Ruchi Soya Industries Limited
- Bunge Ltd.
- Marico Limited
- Cargill, Incorporated
- Patanjali Ayurved Limited
- Emami Agrotech Ltd.
- Mother Dairy Fruit & Vegetable Pvt. Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Region |
| Breakup by Type | Soybean Oil, Palm Oil, Sunflower Oil, Mustard Oil/Rapeseed Oil, Vegetable Oil, Rice Bran Oil, Others |
| Breakup by Application | Food, Industrial, Biofuel, Others |
| Breakup by Region | North India, East India, West India, South India |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Adani Wilmar Limited, Ruchi Soya Industries Limited, Bunge Ltd., Marico Limited, Cargill, Incorporated, Patanjali Ayurved Limited, Emami Agrotech Ltd., Mother Dairy Fruit & Vegetable Pvt. Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 India
7 Opportunities and Challenges in the Market
8 India Vegetable Oil Market Analysis
8.1 Key Industry Highlights
8.2 India Vegetable Oil Historical Market (2018-2022)
8.3 India Vegetable Oil Market Forecast (2023-2028)
8.4 India Vegetable Oil Market by Type
8.4.1 Soybean Oil
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Palm Oil
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Sunflower Oil
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Mustard Oil/Rapeseed Oil
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Vegetable Oil
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Rice Bran Oil
8.4.6.1 Historical Trend (2018-2022)
8.4.6.2 Forecast Trend (2023-2028)
8.4.7 Others
8.5 India Vegetable Oil Market by Application
8.5.1 Food
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Industrial
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Biofuel
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Others
8.6 India Vegetable Oil Market by Region
8.6.1 North India
8.6.2 East India
8.6.3 West India
8.6.4 South India
9 Regional Analysis
9.1 North India
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 East India
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 West India
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 South India
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Adani Wilmar Limited
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Ruchi Soya Industries Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Bunge Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Marico Limited
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Cargill, Incorporated
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Patanjali Ayurved Limited
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Emami Agrotech Ltd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Mother Dairy Fruit & Vegetable Pvt. Ltd.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Vegetable Oil Market: Key Industry Highlights, 2018 and 2028
2. India Vegetable Oil Historical Market: Breakup by Type (INR Million), 2018-2022
3. India Vegetable Oil Market Forecast: Breakup by Type (INR Million), 2023-2028
4. India Vegetable Oil Historical Market: Breakup by Application (INR Million), 2018-2022
5. India Vegetable Oil Market Forecast: Breakup by Application (INR Million), 2023-2028
6. India Vegetable Oil Historical Market: Breakup by Region (INR Million), 2018-2022
7. India Vegetable Oil Market Forecast: Breakup by Region (INR Million), 2023-2028
8. Major Importing Countries by Value
9. Major Exporting Countries by Value
10. Major Importing Countries by Volume
11. Major Exporting Countries by Volume
12. India Vegetable Oil Market Structure
Key Questions Answered in the Report
In 2021, the India vegetable oil market attained a volume of nearly 25.66 MMT.
The market is projected to grow at a CAGR of 14.30% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about 57.22 MMT by 2027.
The market is being aided by the extensive consumption of palm oil, the robust growth of the foodservice industry, and the introduction of various favourable initiatives to boost the indigenous production of vegetable oils.
The industry is expected to be aided by the growing demand for healthy vegetable oils, the growing adoption of sustainable production methods of oilseeds, and the increasing investments in sustainable production of vegetable oils.
The major regions in the industry in India are North India, West India, South India, and East India.
The major types of vegetable oil in the industry are soybean oil, palm oil, sunflower oil, mustard oil/rapeseed oil, vegetable oil, and rice bran oil, among others.
The significant applications in the market are food, industrial, and biofuel, among others.
The major players in the industry 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.
Analyst Review
The India vegetable oil market attained a volume of nearly 25.66 MMT in 2021, driven by the extensive consumption of palm oil. Aided by the growing demand for healthy vegetable oils, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 14.30%. The market is projected to reach about 57.22 MMT by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the vegetable oil industry can be segmented into soybean oil, palm oil, sunflower oil, mustard oil/rapeseed oil, vegetable oil, and rice bran oil, among others. On the basis of application, the industry is divided into food, industrial, and biofuel, among others. The major regional markets for vegetable oil in India are West India, East India, North India, and South India. The key players in the above market include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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