The India palm oil market is expected to exhibit a growth rate (CAGR) of 5.6% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India palm oil market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on packaging type, packaging material, pack size, domestic manufacturing/imports, application and distribution channel.
Breakup by Packaging Type:
Breakup by Packaging Material:
Breakup by Pack Size:
Less than 1 Litres
1 Litres - 5 Litres
5 Litres - 10 Litres
10 Litres and Above
Breakup by Domestic Manufacturing/Imports:
Breakup by Application:
Food Processing Industry
Personal Care Products
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Breakup by Region:
West and Central India
The competitive landscape of the industry has also been examined with some of the key players being 3F Industries Ltd., COFCO International, Edible Group, Godrej Agrovet Limited (Godrej Industries Limited), Gokul Refoils & Solvent Ltd., KS Oils Limited, Oil Palm India Ltd. and Patanjali Foods Limited.
Base Year of the Analysis
Packaging Type, Packaging Material, Pack Size, Domestic Manufacturing/Imports, Application, Distribution Channel, Region
North India, West and Central India, East India, South India
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Key Questions Answered in This Report
We expect the India palm oil market to exhibit a CAGR of 5.6% during 2023-2028.
The growing consumer awareness towards the numerous benefits of palm oil, such as preventing premature aging, boosting immune system, reducing the risk of cardiovascular diseases, etc., is primarily driving the India palm oil market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of palm oil across the nation.
Based on the packaging type, the India palm oil market has been bifurcated into pouches, jars, cans, and bottles. Currently, bottles hold the majority of the total market share.
Based on the packaging material, the India palm oil market can be segmented into metal, plastic, paper, and others. Among these, plastic exhibits a clear dominance in the market.
Based on the pack size, the India palm oil market has been divided into less than 1 liters, 1 liters, 1 litres-5 liters, 5 litres-10 liters, and 10 liters and above. Currently, 1 liters accounts for the largest market share.
Based on the domestic manufacturing/imports, the India palm oil market can be segregated into domestic manufacturing and imports, where imports hold the majority of the total market share.
Based on the application, the India palm oil market has been categorized into household cooking, HoReCa, food processing industry, oleo chemicals, personal care products, animal feed, biofuels, and others. Among these, the food processing industry currently exhibits a clear dominance in the market.
Based on the distribution channel, the India palm oil market can be bifurcated into direct/institutional sales, supermarkets and hypermarkets, convenience stores, online, and others. Currently, direct/institutional sales account for the largest market share.
On a regional level, the market has been classified into North India, West and Central India, East India, and South India, where South India currently dominates the India palm oil market.
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