IMARC Group’s report titled “India Palm Oil Market Report by Packaging Type (Pouches, Jars, Cans, Bottles), Packaging Material (Metal, Plastic, Paper, and Others), Pack Size (Less than 1 Litres, 1 Litres, 1 Litres – 5 Litres, 5 Litres – 10 Litres, 10 Litres and Above), Domestic Manufacturing/Imports (Domestic Manufacturing, Imports), Application (Household Cooking, HoReCa, Food Processing Industry, Oleo Chemicals, Personal Care Products, Animal Feed, Biofuels, and Others), Distribution Channel (Direct/Institutional Sales, Supermarkets and Hypermarkets, Convenience Stores, Online, and Others), and Region 2024-2032“. The India palm oil market size is expected to exhibit a growth rate (CAGR) of 5.3% during 2024-2032.
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Factors Affecting the Growth of the India Palm Oil Industry:
- Technological Integration in Supply Chain Management:
The growing technological integration in the supply chain management of palm oil is offering a favorable market outlook in India. Improvements in technology, including blockchain and artificial intelligence (AI)-driven analytics, are being utilized to enhance the efficiency and transparency of the palm oil supply chain. These technologies aid in ensuring better quality control, traceability from plantation to final product, and optimized logistics. This digital transformation is particularly crucial in addressing concerns related to sustainability and ethical sourcing, thereby reinforcing consumer trust and compliance with quality standards, which is increasingly important in the trade of palm oil.
- Growing Population and Dietary Shifts:
India, characterized by its burgeoning population, is witnessing a substantial increase in the demand for food. Moreover, with the rising hectic lifestyles, people are preferring processed and convenient food items, which often contain palm oil. This transition is not just limited to urban areas but is also spreading to rural regions. Furthermore, the growing preferences of people for diversified and calorie-dense diets, where palm oil finds extensive use due to its suitability in varied food applications is strengthening the market growth. The cultural affinity towards fried foods and snacks is further driving the demand for palm oil in the country.
- Non-Food Industries Demand:
The rising employment of palm oil in non-food industries is impelling the market growth in the country. The use of palm oil is expanding beyond traditional food applications into personal care, cosmetics, and pharmaceuticals. This diversification is driven by the beneficial properties of palm oil, such as moisturizing in skincare products and as a base for ointments in pharmaceuticals. Its application in biodiesel production is also gaining momentum, aligning with the renewable energy goals of the country. This broader utilization showcases the versatility of palm oil and opens new avenues.
Leading Companies Operating in the India Palm Oil Industry:
- 3F Industries Ltd.
- COFCO International
- Edible Group
- Godrej Agrovet Limited (Godrej Industries Limited)
- Gokul Refoils & Solvent Ltd.
- KS Oils Limited
- Oil Palm India Ltd.
- Patanjali Foods Limited.
India Palm Oil Market Report Segmentation:
By Packaging Type:
- Pouches
- Jars
- Cans
- Bottles
Bottles represent the largest segment as they provide convenience, easy storage, and widespread user preference for palm oil in this packaging format.
By Packaging Material:
- Metal
- Plastic
- Paper
- Others
Plastic accounts for the majority of the market share due to its cost-effectiveness, durability, and ability to protect palm oil from external factors.
By Pack Size:
- Less than 1 Litres
- 1 Litres
- 1 Litres – 5 Litres
- 5 Litres – 10 Litres
- 10 Litres and Above
1 liter exhibits a clear dominance as it caters to both household and industrial consumers, offering a versatile option for various applications.
By Domestic Manufacturing/Imports:
- Domestic Manufacturing
- Imports
Imports represent the largest segment, owing to the growing reliance on palm oil imports to meet its demand.
By Application:
- Household Cooking
- HoReCa
- Food Processing Industry
- Oleo Chemicals
- Personal Care Products
- Animal Feed
- Biofuels
- Others
The food processing industry holds the biggest market share on account of the extensive use of palm oil in food products like snacks, baked goods, and cooking oils.
By Distribution Channel:’
- Direct/Institutional Sales
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Direct/institutional sales account for the majority of the market share, which can be accredited to the importance of direct business relationships in the industry.
Regional Insights:
- North India
- West and Central India
- East India
- South India
South India dominates the market due to the growing consumption of food containing palm oil and the presence of various food processing industries in the region.
India Palm Oil Market Trends:
The increasing utilization of palm oil in the food and beverage (F&B) sector, particularly in processed and ready-to-eat (RTE) products due to urbanization and busy lifestyles is contributing to the market growth in the country. Palm oil, with its versatility and cost-effectiveness, is becoming a preferred ingredient in these products due to its stability at high temperatures and extended shelf life.
Besides this, the growing interest in high-value specialty palm oil products, such as red palm oil, which is rich in carotenoids and tocotrienols, is positively influencing the market. These specialty oils are gaining popularity among health-conscious consumers due to their nutritional benefits and are increasingly used in dietary supplements and health foods.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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