India Edible Oil Market Outlook

Synopsis
The above chart is India Edible Oil Market Outlook (2018 to 2032)

Market Dynamics

India, the world’s largest edible oil consumer, is expected to register an impressive cagr of about 11% during the forecast period of 2018 to 2032. this growth is primarily attributed to the rise in disposable incomes and dietary changes among indians, and increasing awareness of healthy and nutritional benefits of edible oils. edible oil demand in india is largely driven by its rapidly expanding population, rising urbanization and improved standard of living. the large proportion of young population is also expected to drive the edible oil market in the country. this along with increasing preference for edible oils among the indian-style restaurants and deployment of advanced extraction technologies has been driving the demand for edible oil in india. also, the government of india is investing heavily in the marketing and promotion of various edible oils, especially in rural areas. this has been playing a major role in increasing the awareness and demand for different edible oils from various sources. the number of health-aware consumers is also on the rise, thereby contributing to the demand for edible oils from non-gmo and organic sources. in the coming years, the rising popularity of packaged oil is expected to create more tangible opportunities in the edible oil market. the introduction of many innovative products such as fortified and pre-packaged oils is expected to further bolster the growth of edible oils. also, with increasing awareness about the health benefits of various types of vegetable oils, more and more health-conscious consumers are likely to opt for them. in addition, the introduction of subsidized edible oil schemes under public distribution systems and introduction of various edible oil brands from abroad is likely to further catalyze the growth of edible oils in india. additionally, the increasing popularity of ready-to-eat food products containing edible oils is also likely to contribute significantly to the market growth. overall, india’s edible oil market is expected to grow at a healthy rate during the forecast period of 2018 to 2032, mainly driven by the rising per capita incomes, growing urbanization and changing dietary habits. further, technological advancements in oil extraction processes and increasing awareness about health benefits of vegetable oils is also likely to bolster the market in the coming years.