While cottonseed oil is one of the primarily used oil, corn oil and soybean oil can be termed as comparatively newer oil. Cotton is an important cash crop in India, being a major raw material for the textile industry, have made its robust position in the Indian edible oil industry with its light colors and a non-oily consistency, suitable for all Indian cuisines. Extracted from the seeds of the soybean plant, with a mild neutral taste, the oil fits nearly all recipes and thus is gaining much popularity among consumers. Delicious in any form consumed, just like corn, the corn oil obtained from the corn germ is an excellent choice for frying with resistance to smoking or discoloration. The specifics of these oils are the availability at a considerate price range loaded with health benefits, without altering the taste of the food.
As a conclusion of the report published by Bonafide Research named 'India Edible Cottonseed Oil, Soybean Oil & Corn Oil Market Outlook, 2027-28', the total edible oil market is estimated at INR 5,19,905 Crore in the year 2027, out of which the three oil is expected to grow to a market of more than INR 1,50,000 Crore by the end of the forecasted period. In terms of production, cottonseed oilseed is expected to have very minimal growth and thus range to the production of slightly more than 0.05 million Tonnes by the end of the forecasted period. Against this market, the soybean oilseed is to show a profitable increase, crossing 1 million Tonnes of production.
Commenting on India's soybean oil consumption pattern, it can be said that, Indians may continue to prefer lower-priced palm oil over soybean oil because of price competitiveness. The cottonseed despite being majorly cultivated in the western region, the major use of cotton is restricted to the textile industry and much lesser concentration given to the oil production which therefore underutilized with the current recovery of oil alone, being only about two-thirds of its potential. Still, cottonseed oil has become an important source of edible oil and is now the third-largest contributor to the domestic edible oil supply. In context to the well-known fact that the Indian consumers are price sensitive, the corn oil should have been much popular, as it is generally less expensive than most other types of vegetable oils. Given the availability of a variety of oilseed crops for edible purposes, in India, corn oil is not very popular for domestic uses, as it does not constitute a part of conventional food recipe in the country. This is the principal reason for less popularity of corn oil for the cooking purpose, holding less than 60% of the market share. Nevertheless, the oil has much popular in industrial applications in soap, rustproofing for metal surfaces, inks, textiles, nitro-glycerine, and insecticides.
The market of these three oils is dominated by the organized market, both in terms of value and volume. While soybean oil and cottonseed oil have a contribution of more than 80% from the organized markets, corn oil has a contribution of less than 75% in the year 2021. It can be excepted that the market will show an increasing trend in general, with the consumers being more aware of the adulteration and the need of consuming a better-quality product.
Major companies present in the market:
Adani Wilmar Limited, Bunge Foods Pvt Ltd (Dalda & Gagan), Cargill India PVT LTD, N.K Proteins (Tirupati), Gulab Oil And Foods Pvt. Ltd., Vimal Oil & Foods Ltd, Patanjali Ayurved Limited,
Considered in the report
• Geography: India
• Base year: 2021-22
• Historical year: 2016-17
• Estimated year: 2022-23
• Forecasted year: 2027-28
Aspects covered in the report
• India Oil Market
• India Edible Oil Market
• India Packaged Edible Oil Market
• India Soybean Oil Market Outlook
• India Cottonseed Oil Market Outlook
• India Corn Oil Market Outlook
• Price Product and Variant Analysis
• Market Trends & Developments
• India Economic Profile
• Porters Five Force Model
• Company Profile of Top Players
Segments covered in the market
• By Market Type
• By Packaging Type
• By Packaging Size
• By Region
• By End User
• By Application
• By Sales Channel
The approach of the report:
We keep an eye on evolving markets and try to evaluate the potentials in the product and services. If we found the market interesting, we start working on it and create the desired table of content considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personals, company owners, dealers, distributors & end-users. Once the questionnaires have been finalized we start collecting the primary data (majorly through phone calls) and try to understand the market dynamics with regional/tier wise. This process gives us in-depth detail of the market including all present companies, the top-performing product with reasons why they dominate; we get the details of new players and their innovative approach and market trends, dynamics, and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. By this, we get a rough estimate of the market and start checking existing product price variant, trade, production, raw material scenario, policies and regulatory landscape, etc. Then to finalize the market, we start collecting financials of each player present in the market including limited, private limited, and LLPs. Moreover, we perform cross-industry, cross-region analysis of the product, and based on collected primary inputs and using statistical modeling we start forecasting the market. We follow our forecasting algorithm which is unique for each product but giving more weightage to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, and PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together cross-check the segmentations, validates the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in strategic recommendations’ for new as well as the existing players. The QC team then checks the overall report which includes spell check, data verification and makes the same dispatch ready and error-free.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the frozen food industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Please get in touch with our sales team to find out more.
Keywords: Edible Oil, Cottonseed Oil, Soybean Oil, Corn Oil, Adani Wilmar Limited, Bunge Foods Pvt Ltd (Dalda & Gagan), Cargill India PVT LTD, N.K Proteins (Tirupati), Gulab Oil and Foods Pvt. Ltd., Vimal Oil & Foods Ltd, Patanjali Ayurved Limited
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample