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The India palm oil market has witnessed strong growth over the past decade. Palm oil refers to an edible vegetable oil that is naturally extracted from the mesocarp of palm fruits. Palm oil currently represents the most consumed edible oil in India followed by soybean oil and mustard oil. India’s demand of palm oil, however, is currently met by imports mainly from Malaysia and Indonesia with domestic production being limited. The market for palm oil in India is currently driven by factors such as its lower cost, rising urbanization rates, increasing disposable income levels, rising demand from the food services industry and its increasing applications in the non-food sector.
India’s huge population coupled with increasing levels of urbanization and elevating consumer living standards have created a positive impact on the demand of palm oil. Additionally, the rising application of palm oil in processed food items such as bakery products, and confectioneries, is also catalyzing the product demand. India’s fast-growing food service sector which includes hotels, cafes, restaurants, etc. also represents a major driver of the palm oil market in India. Additionally, the rising demand of palm oil in various non-food applications such as surfactants, personal care products, cosmetics, agrochemicals, biofuels, etc. is also driving its demand.
The outbreak of the COVID-19 pandemic, in early 2020, however, has negatively impacted the market for palm oil in India. The national lockdown led to several supply chain disruptions, restricted import activities with palm oil producing nations, and resulted in a temporary shutdown of palm oil processing units. Additionally, the nationwide lockdown also led to a temporary closure of hotels, restaurants, canteens, and public food joints in the country, creating a negative impact on the demand of palm oil. The India palm oil market, however, is expected to recover from 2021 onwards and exhibit strong growth during 2021-2025.
IMARC Group provides an analysis of the key trends in each sub-segment of the India palm oil market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, packaging type, packaging material, pack size, domestic manufacturing/imports, application and distribution channel.
Breakup by Packaging Type:
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Breakup by Domestic Manufacturing/Imports:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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