According to the latest report by IMARC Group, titled “India Palm Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the India palm oil market was negatively impacted in the early 2020 due to the outbreak of the COVID-19 pandemic. Palm oil is a vegetable oil produced from the fruit of oil palm trees.It is an odorless and colorless oil that is resistant to oxidation and stable at high temperatures, which provides fried products a crispy and crunchy texture. In addition, palm oil is a rich source of antioxidants, vitamin E, and carotene. Palm oil is used widely as cooking oil, especially in Asian and African countries. Nowadays, palm oil is widely used in India as it offers a greater yield at a lower cost of production than other vegetable oils.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Palm OilMarket Trends:
The increasing awareness among individuals regarding the health benefits offered by palm oil represents the primary factor bolstering the market growth. Palm oil helps prevent premature aging, boost the immune system, improve vision, reduce the risk of cardiovascular diseases and enhance energy levels. Besides this, palm oil finds various applications in food products, detergents, and cosmetics due to which its sales are increasing across the country. Furthermore, with the rising environmental concerns, there has been an increased demand for biodiesel, which involves palm oil during production, thereby providing a positive impact on the market. Moreover, several manufacturers are introducing fortified vegetable oils, such as palm oil, rich in polyunsaturated fatty acids to mitigate vitamin A deficiency, which in turn is attracting a wider consumer base. On account of these factors, the market is projected to exhibit strong growth during 2021-2026.
- Based on the packaging type, the market has been segmented into pouches, jars, cans and bottles.
- On the basis of the packaging material, the market has been classified into metal, plastic, paper and others.
- The market has been categorized based on the pack size into less than 1 Liter, 1 Liters, 1 Litres-5 Liters, 5 Litres-10 Liters, and 10 Liters and above.
- The market has been bifurcated into domestic manufacturing and imports.
- On the basis of the application into household cooking, HORECA, food processing industry, oleochemicals, personal care products, animal feed, biofuels and others.
- Based on the distribution channel, the market has been segregated into direct/institutional sales, supermarkets and hypermarkets, convenience stores, online, and others.
- Region-wise, the market has been divided into North India, West and Central India, East India, and South India.
- The competitive landscape of the market has also been examined in the report, providing the detailed profiles of the key players operative in the industry.
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