India Palm Oil Market

Market Overview:

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:

• Pouches
• Jars
• Cans
• Bottles
   

Breakup by Packaging Material:

• Metal
• Plastic
• Paper
• Others
   

Breakup by Pack Size:

• Less than 1 Litres
• 1 Litres
• 1 Litres - 5 Litres
• 5 Litres - 10 Litres
• 10 Litres and Above
   

Breakup by Domestic Manufacturing/Imports:

• Domestic Manufacturing
• Imports
   

Breakup by Application:

• Household Cooking
• HoReCa
• Food Processing Industry
• Oleo Chemicals
• Personal Care Products
• Animal Feed
• Biofuels
• Others
   

Breakup by Distribution Channel:

• Direct/Institutional Sales
• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Others
   

Breakup by Region:

• North India
• West and Central India
• East India
• South India
   

Competitive Landscape:

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.

Report Coverage: