With rice, mustard, and groundnut being popularly sown crops in the country, their oil has been popular among the people too. Commonly used in the western region, groundnut oil has now become the most expensive cooking oil in India, backed by the growing consumption of peanuts in the form of savories as an accompaniment with liquor, snack bars, and a rise in exports. Rice bran oil is technically a newer entrant to the market extracted from the hard outer brown layer known as rice husk, which contains nearly 15% oil. Considered a 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, 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 seasonal ailments.
The recently published report titled 'India Edible Rice Bran Oil, Mustard Oil & Groundnut Oil Market Outlook, 2027-28' 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. Based on 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. Plastic bottles and containers and plastic pouches are important and dominant segments due to their particular applicability in the storage of oil.
The market of mustard oil is expected to grow with a CAGR of more than 6% during the forecasted period, while the market of rice bran is expected to grow with a CAGR of more than 9%. The challenge is the darker color of the oil caused by the red hue. Over the years, Indian consumers have started believing that a lighter color indicates a better quality of the oil. The sale of groundnut oil from the unorganized market sector is considerably high and expected to remain considerably high, with more than a quarter of the total share even by the year 2025. The industrial use of 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 the most preferred oil for cooking in the eastern region; but is also used in different applications like aromatherapy, pharmaceuticals, & soaps, etc.
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
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 Rice Bran Oil Market Outlook
• India Mustard Oil Market Outlook
• India Groundnut 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.
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Keywords: Edible Oil, Rice Bran Oil, Groundnut Oil, Mustard 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
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