India is the second most populous country in the world housing more than 15% population creating a huge consumer base. Many new foreign companies as well as domestic companies have expanded their business in the edible oil segment to cater the larger population in the country. Consumption of edible oil is dependent on the region. Even though palm and soybean has displaced many major oils market share they are not able to completely replace them. Market for edible oil in India has grown constantly between FY’2012 to FY’2016 but declined in FY’2017. Fall in imports due to rise in prices in FY’2017 was the key factor for decline. Palm oil remained the key oil in the edible oil segment in India with demand mainly coming from commercial users. Other major oils include soybean oil, Mustard oil and sunflower oil.
Adani Wilmar has emerged as a major player in the edible oil segment. Ruchi Soya, Cargill, Bunge are some other key players with pan India presence. Local players such as B L Agro, Kaluseewari, Emami and many other have established a strong distribution and marketing network and are expanding their businesses to other regions. Certain oil such as coconut, ground nut, cotton seed which earlier were restricted to particular states can now be found pan India due to increased interstate migration. Northern region was the major consumer of edible oil in the country but per capita consumption was highest in western part of the country. Fortification program was launched by the government in association with the companies in organized sector to tackle the issue of malnutrition in India.
Increased consumption per capita, better checks on adulteration, increased demand for packaged oil along with increasing urbanization and consumer expenditure were some key growth drivers in the market. In the last three to four years share of retail oil in consumer packs have increased significantly registering a double digit growth rate. Unorganized sector is more active in locally produced oil such as mustard oil, coconut oil, and cotton seed oil. Over the years share of imported refined oil is on rise due to declining price gap between crude and refined oil.
The report titled “India Edible Oil Market Outlook to 2022” provides brief overview on the India Edible oil, Palm oil, Soyabean oil, Sunflower oil, Groundnut oil, Mustard, Rice Bran, Olive Oil Market. This report helps reader to identify the ongoing trends in the market and anticipated growth in future depending upon changing market dynamics in coming years. The report will help existing distributors, edible oil manufacturers, refiners, large scale farmers, traders and commercial users to align their market centric strategies according to ongoing and expected trends in the future.
Key Market Players in the Report
Cargill, Ruchi Soya, Adani Wilmar, Marico, Sundrop, Kaleesuwari, Emami, Borges
Ankur Gupta, Head Marketing & Communications