India Edible Palm Oil & Olive Oil Market Outlook, 2027-28

India Edible Palm Oil & Olive Oil Market Outlook, 2027-28

While one is considered a premium product and the other is popularly the cheapest available, olive oil and palm oil are two extremely opposite products in the Indian edible oil market, catering to different sets of consumer segments. Palm oil is the oil with the lowest production costs, resulting in the lowest selling price, consumed unknowingly to the fact that it contains a proven natural substitute for hydrogenated fatty acids. Palm oil, unlike olive oil, contains about 50% saturated fats, which are responsible for an increase in cholesterol in the blood. With reference to the recently published article of Bonafide Research under the title, ‘India Edible Palm Oil & Olive Oil Market Outlook, 2027-28’, the consumption of palm oil is expected to grow at a rate of above 3%. Even though considered an expensive oil, with the increasing awareness and disposable income, the consumption of olive oil is expected to grow incredibly from below 2% in the period 2016-21 to more than 8% through the forecasted period.

Despite the dissimilarities, the consumption of these oils is similar in terms of the market type. Both these oils are highly consumed from the unorganized market, which is surprising in the case of olive oil, but is backed by the availability of adulterated oil in the market at a much cheaper rate, than the branded ones. The purchase of olive oil from the online market is comparatively higher than most of the oils, owing to the discounts and easy comparison of the brands. The online market is expected to cross INR 160 Cr. While the palm oil market gets the major contribution of the sales derived from the fair price stores, the market is going to be dominated by the offline sales channel over the long period.

The fact that the state government-run fair-price stores sell refined palm oil to impoverished communities at a subsidized price of 25 Rs/liter, more than a third cheaper than usual, has deteriorated the image of palm oil in minds of Indian consumers. However, this has also made the lower middle-class population habituated to the consumption of palm oil. To decrease the high import of this oil, Prime Minister Narendra Modi appealed to the farmers in the North-East States to take up oil palm cultivation in a big way, as a step to support the Atmanirbhar Bharat initiative. Due to the high price of olive oil, companies started blending olive oil with other edible oil such as rice bran oil. Pure and pomace olive oil are the most popular variants, although extra virgin olive oil is gaining momentum due to its health benefits. The commercial use of palm oil is higher in comparison to any other oil which results in the frequent purchase of higher quantities. Palm oil can be stored for up to 12 months with little spoilage. This is the primary reason why the oil is used in adulteration of the expensive oils to increase the profit margin.

Major companies present in the market:
Adani Wilmar Limited, Cargill India PVT LTD, Ruchi Soya Limited, K. S. Oils Limited (Kalash),

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 Palm Oil Market Outlook
• India Olive 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 modelling 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.

Intended audience
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: Palm Oil, Edible Oil, Olive Oil, Adani Wilmar Limited, Cargill India PVT LTD, Ruchi Soya Limited, K. S. Oils Limited (Kalash), Pouch Packaging, Plastic Packaging,