India Edible Oil Market Outlook To 2024: Key Product Categories (Palm, Soybean, Mustard, Sunflower, Groundnut, Rice Bran, Blended), By End-Use (Bakery, Food Processing, Food Service, Retail), Competitive Dynamics, M&A Insights, Pricing Analysis, Segment Forecast And Conclusion

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India edible oil market was valued at $11.9 bn in 2016 and is forecast to grow at a steady CAGR of 5.5% between 2017 and 2024, culminating in 2024 revenue of $18.2 bn.

 

Industry at a Glance

 

Indian edible oil industry is ranked as the 4th leading industry after the U.S., China, and Brazil. Increasing per capita disposable income coupled with rising number of people opting for dining out frequently is a key factor expected to drive market growth over the forecast period. Availability of vitamin premix at subsidy along with rising convenience food consumption is anticipated to further bolster edible oil demand in the country. Effective fortification of products such as Vanaspati mandated with Vitamin A and Vitamin D fortification in 1953 along with recent mandate of 700 IU for every ounce of Vanaspati has been successfully implemented are positive developments shaping industry dynamics.

 

Major Indian states such as Gujarat, Rajasthan, and Bihar utilize a major quantity of oil for deep frying purposes than as generic cooking oil. Rising income levels among the middle class in aforementioned states have driven the demand for low-fat oils as a result of rising number of chronic disease cases along with increasing awareness among consumers. Strong demand for coconut oil emerging from the southern part of India is also anticipated to foster industry growth over the forecast period.

 

India Edible Oil Market 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for India Edible Oil Products”

 

Estimated Average India Edible Oil product cost – $ xx. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

The edible oil industry in India is widely influenced by various factors such as raw material availability and change in government policies that determine pricing strategies adopted by key industry participants.

 

Product Outline

 

On the basis of product, the market has been segmented into palm oil, soybean oil, mustard oil, sunflower, groundnut oil, rice bran oil, and blended oil. Palm oil emerged as the dominant segment with over 30% of the overall market revenue. The segment is driven by increasing number of food processing facilities coupled by rising imports from Malaysia and Indonesia. Government has allotted 100% FDI in oil palm plantations which have enabled to reduce edible oil deficit and dependence on imports from Europe and Southeast Asia. India emerged as the second leading producer of rice bran oil after China and holds a potential of producing over 1 million tons of rice bran oil. The segment is still in budding phase and offers lucrative opportunities industry participants over the forecast period.

 

Application Insights

 

Retail emerged as the leading end-use segment and accounted for over 50% of the overall market revenue in 2016. Rapid urbanization coupled with large network of retail outlets is the driving force behind segment growth in the country. Increasing number of fast food chains, changing cooking patterns, along with introduction of numerous trans-fat free oil options has spurred edible oil consumption in food service industry. Robust growth in number of restaurants, bars, dining halls, casinos along with shift in trend towards convenience food is anticipated to boost segment growth further significantly.

 

Growth Drivers & Restraints

 

The Indian edible oil market holds large untapped potential and offers lucrative business opportunities for market participants to capitalize on. Population outburst, rising household income along with the emergence of food service sector has stimulated the demand for edible oils at a brisk pace. Increasing urban population coupled with upgraded retail network is anticipated to bolster regional market growth over the forecast period. However, heavy dependency on edible oil imports and large unorganized segment i.e. loose oil and unbranded products are anticipated to market growth and affect revenue generation.


Top Players & Company Share

 

Major companies operating in the Indian edible oil market include The Adani Wilmar Ltd., Cargill Inc., Ruchi Soya Industries Ltd., Agrotech Foods Ltd., Ricela Health, Jhunjhunwala Vanaspati Ltd., ConAgra Foods, Rasoya Proteins, Marico, NK Proteins, Kamani Oil Industries, Bunge Limited, and Gabani Industries. The market is projected to be controlled by numerous national and multinational brands due to the rising dependence on imports along with liberalization by the government.

 

Market Segmentation

 

  • Edible Oil Market by Product (Volume, Tons; Revenue, USD Million)
    • Palm Oil
    • Soybean Oil
    • Mustard Oil
    • Sunflower Oil
    • Groundnut Oil
    • Rice Bran Oil
    • Blended Oil
    • Others
  • Edible Oil Market by End-Use (Volume, Tons; Revenue, USD Million)
    • Retail
    • Bakery
    • Food Service
    • Food Processing

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 India Edible Oil Overview

  • Market Ecosystem
  • Key Stakeholders
  • Industry Trends & Analysis

Chapter 4 Edible Oil Industry Outlook

  • Market Overview
  • Market Segmentation
  • Market Size & Growth Prospects
  • Leading Brand Dynamics
  • Regulatory Framework
  • Raw Material Scenario
  • Key Market Drivers
    • Increasing per capita disposable income
    • Growth of food service sector
  • Key Market Challenges/ Restraints
    • Rising dependence on imported oil
  • Major Trends &Issues
  • Penetration & Growth Prospects
  • Industry Analysis - Porter’s
  • Edible Oil Market-PESTEL Analysis
  • Company Market Share/Heat Map Analysis
  • Trade Landscape
    • Imports, 2012-2016
    • Exports, 2012-2016

Chapter 5 Edible Oil Market by Product (Tons, USD Million)

Edible Oil Market Landscape by Product – 2016 & 2024
  • Palm Oil
    • Market Landscape Analysis, 2014-2024
  • Soybean Oil
    • Market Landscape Analysis, 2014-2024
  • Mustard Oil
    • Market Landscape Analysis, 2014-2024
  • Sunflower Oil
    • Market Landscape Analysis, 2014-2024
  • Groundnut Oil
    • Market Landscape Analysis, 2014-2024
  • Rice Bran Oil
    • Market Landscape Analysis, 2014-2024
  • Blended Oil
    • Market Landscape Analysis, 2014-2024
  • Others
    • Market Landscape Analysis, 2014-2024

Chapter 6 Edible Oil Market Outlook by End-Use (Tons, USD Million)

Edible Oil Market Landscape by End-Use – 2016 & 2024
  • Retail
    • Market Landscape Analysis, 2014-2024
  • Bakery
    • Market Landscape Analysis, 2014-2024
  • Food Service
    • Market Landscape Analysis, 2014-2024
  • Food Processing
    • Market Landscape Analysis, 2014-2024

Chapter 7 Pricing Analysis

  • Optimal Price Points (OPP), Indifference Price Points (IPP) and Range of Acceptable Prices (RAP) of leading brands and revenue estimation by Region- 2016

Chapter 8 Competitive Landscape

  • The Adani Wilmar Ltd.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Cargill Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Ruchi Soya Industries Ltd.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Agrotech Foods Ltd.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Ricela Health
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Jhunjhunwala Vanaspati Ltd.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • ConAgra Foods
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Rasoya Proteins
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Marico
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • NK Proteins
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Kamani Oil Industries
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Bunge Limited
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Gabani Limited
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
List of Tables
  • TABLE 1 Edible Oil Market - Industry Snapshot & Key Buying Criteria, 2014 - 2024
  • TABLE 2 Global Edible Oil Market, 2014 – 2024 (Tons, USD Million)
  • TABLE 3 Global Edible Oil Market by Product, 2014 – 2024 (Tons, USD Million)
  • TABLE 4 Global Edible Oil Market by End-Use, 2014 – 2024 (Tons, USD Million)
  • TABLE 6 Edible Oil Market - Key Market Driver Analysis
  • TABLE 7 Edible Oil Market - Key Market Restraint/ Challenge Analysis
  • TABLE 8 Edible Oil Market – Key Opportunity Analysis
  • TABLE 31 India Edible Oil Pricing Analysis
  • TABLE 32 India Edible Oil Pricing Analysis (OPP, IPP and RAP- 2016)
List of Figures-
  • FIG. 1 Edible Oil Market Segmentation
  • FIG. 2 Market Size & Growth Prospects
  • FIG. 3 Leading Brand Dynamics
  • FIG. 4 Penetration & Growth Prospects
  • FIG. 5 Industry Analysis – Porter’s
  • FIG. 6 Edible Oil Market – PESTEL Analysis
  • FIG. 7 Edible Oil Market Share by Product, 2016 & 2024
  • FIG. 8 Edible Oil Market Share by End-Use, 2016 & 2024

Key Insights Addressed:  

  • Defining market size from 2014 to 2016.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird's eye view of the competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
    Key Findings:    
  • India edible oil market was valued at $11.9 bn in 2016 and is forecast to grow at a steady CAGR of 5.5% between 2017 and 2024, culminating in 2024 revenue of $18.2 bn.
  • Major Indian states such as Gujarat, Rajasthan, and Bihar utilize a major quantity of oil for deep frying purposes than as generic cooking oil.
  • The edible oil industry in India is widely influenced by various factors such as raw material availability and change in government policies that determine pricing strategies adopted by key industry participants.
  • The Indian edible oil market holds large untapped potential and offers lucrative business opportunities for market participants to capitalize on. Population outburst, rising household income along with the emergence of food service sector has stimulated the demand for edible oils at a brisk pace.
  • Major companies operating in the Indian edible oil market include The Adani Wilmar Ltd., Cargill Inc., Ruchi Soya Industries Ltd., Agrotech Foods Ltd., Ricela Health, Jhunjhunwala Vanaspati Ltd., ConAgra Foods, Rasoya Proteins, Marico, NK Proteins, Kamani Oil Industries, Bunge Limited, and Gabani Industries.

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-

  1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
  2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brainstorming, key discussion pointers from various forums etc.
  3. Need Gap Analysis- Defining the gap between our scope and availability of information.
  4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
  5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting the primary interview with a structured questionnaire.
  6. Data Triangulation- We apply bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
  7. Analyst Comment- Each of our analysts carries large pool of experience from domain perspective and add their value which is directional in nature
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Description

India edible oil market was valued at $11.9 bn in 2016 and is forecast to grow at a steady CAGR of 5.5% between 2017 and 2024, culminating in 2024 revenue of $18.2 bn.

 

Industry at a Glance

 

Indian edible oil industry is ranked as the 4th leading industry after the U.S., China, and Brazil. Increasing per capita disposable income coupled with rising number of people opting for dining out frequently is a key factor expected to drive market growth over the forecast period. Availability of vitamin premix at subsidy along with rising convenience food consumption is anticipated to further bolster edible oil demand in the country. Effective fortification of products such as Vanaspati mandated with Vitamin A and Vitamin D fortification in 1953 along with recent mandate of 700 IU for every ounce of Vanaspati has been successfully implemented are positive developments shaping industry dynamics.

 

Major Indian states such as Gujarat, Rajasthan, and Bihar utilize a major quantity of oil for deep frying purposes than as generic cooking oil. Rising income levels among the middle class in aforementioned states have driven the demand for low-fat oils as a result of rising number of chronic disease cases along with increasing awareness among consumers. Strong demand for coconut oil emerging from the southern part of India is also anticipated to foster industry growth over the forecast period.

 

India Edible Oil Market 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for India Edible Oil Products”

 

Estimated Average India Edible Oil product cost – $ xx. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

The edible oil industry in India is widely influenced by various factors such as raw material availability and change in government policies that determine pricing strategies adopted by key industry participants.

 

Product Outline

 

On the basis of product, the market has been segmented into palm oil, soybean oil, mustard oil, sunflower, groundnut oil, rice bran oil, and blended oil. Palm oil emerged as the dominant segment with over 30% of the overall market revenue. The segment is driven by increasing number of food processing facilities coupled by rising imports from Malaysia and Indonesia. Government has allotted 100% FDI in oil palm plantations which have enabled to reduce edible oil deficit and dependence on imports from Europe and Southeast Asia. India emerged as the second leading producer of rice bran oil after China and holds a potential of producing over 1 million tons of rice bran oil. The segment is still in budding phase and offers lucrative opportunities industry participants over the forecast period.

 

Application Insights

 

Retail emerged as the leading end-use segment and accounted for over 50% of the overall market revenue in 2016. Rapid urbanization coupled with large network of retail outlets is the driving force behind segment growth in the country. Increasing number of fast food chains, changing cooking patterns, along with introduction of numerous trans-fat free oil options has spurred edible oil consumption in food service industry. Robust growth in number of restaurants, bars, dining halls, casinos along with shift in trend towards convenience food is anticipated to boost segment growth further significantly.

 

Growth Drivers & Restraints

 

The Indian edible oil market holds large untapped potential and offers lucrative business opportunities for market participants to capitalize on. Population outburst, rising household income along with the emergence of food service sector has stimulated the demand for edible oils at a brisk pace. Increasing urban population coupled with upgraded retail network is anticipated to bolster regional market growth over the forecast period. However, heavy dependency on edible oil imports and large unorganized segment i.e. loose oil and unbranded products are anticipated to market growth and affect revenue generation.


Top Players & Company Share

 

Major companies operating in the Indian edible oil market include The Adani Wilmar Ltd., Cargill Inc., Ruchi Soya Industries Ltd., Agrotech Foods Ltd., Ricela Health, Jhunjhunwala Vanaspati Ltd., ConAgra Foods, Rasoya Proteins, Marico, NK Proteins, Kamani Oil Industries, Bunge Limited, and Gabani Industries. The market is projected to be controlled by numerous national and multinational brands due to the rising dependence on imports along with liberalization by the government.

 

Market Segmentation

 

  • Edible Oil Market by Product (Volume, Tons; Revenue, USD Million)
    • Palm Oil
    • Soybean Oil
    • Mustard Oil
    • Sunflower Oil
    • Groundnut Oil
    • Rice Bran Oil
    • Blended Oil
    • Others
  • Edible Oil Market by End-Use (Volume, Tons; Revenue, USD Million)
    • Retail
    • Bakery
    • Food Service
    • Food Processing

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