The traditional wonders likely to be overtaken by the newer wealth- Bonafide Research
Oct, 17
2020

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The traditional wonders likely to be overtaken by the newer wealth- Bonafide Research

 

Not only known for their direct consumption, but the crops of rice, mustard, and groundnut are extremely popular for their oils too. Yet, it can be said that these crops are not extracted to its potential, as still the major part of these crops are used for the direct consumption. The industrial use of the rice bran oil is increasing due to its various health benefits, with only 75% of the extraction being used for the edible consumptions. Traditionally the mustard oil is most preferred oil for cooking in the eastern region; but is also used in different applications like aromatherapy, pharmaceuticals, & soaps, etc. The recently published report titled 'India Edible Rice Bran Oil, Mustard Oil & Groundnut Oil Market Outlook, 2025' by Bonafide Research, suggests that these oils are much more than their health benefits, opening up a profitable market by the forecasted period, due to the increasing demand. Rice bran oil is technically a newer entrant to the market extracted from the hard outer brown layer known as rice husk, contains nearly 15% oil. Considered as popular cooking oil in Asian countries, it has also been recommended by The World Health Organization (WHO), as an effective choice to keep cholesterol under control. However, the mustard oil is not an unfamiliar concept to the country, with grandmothers, including it in the winter cuisines that act as a single cure for most of seasonal ailments. The production of the mustard oil is expected to reach to 3.24 Million tonnes by the forecasted period. On the basis of packing, these oils are segmented into plastic bottles and containers, glass containers, plastic pouches, and cartons. The purchase of the size and packaging depends highly on the cost and shelf life and the purpose of the purchase. The plastic bottles and containers and plastic pouches are important and dominant segments due to their particular applicability in the storage of the oil. Even with their health benefits, these oils could not capture the entire market, as a heap of challenges surrounds them.The challenge with the rice bran oil is the darker colour of the oil caused by the red hue. Over years, the Indian consumers have started believing that lighter colour indicates a better quality of oil. This can be considered as a reason for reluctance in the people towards the rice bran oil. This is added with the limited production of the oil, which is expected to less than 1.5 Million tonnes, by the forecasted period. Commonly used in the western region, the groundnut oil has now become the most expensive cooking oil in India, backed by growing consumption of peanuts in the form of savouries and rise in exports. The sale of groundnut oil from the unorganized market sector is considerably high, expected to remain arch, with more than a quarter of the total share even by the year 2025. This tendency of unbranded purchase is considerably a big threat to the branded players as the unorganized market leads due to the lower pricing achieved by a low quality of the oil. The government is in the need to take adequate steps in order to demolish this sector, which might harm the consumer's health in the long run.

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