According to the latest report by IMARC Group, "India Palm Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The India palm oil market is expected to exhibit a growth rate (CAGR) of 5.6% during 2023-2028.
What is Palm Oil?
Palm oil is an edible vegetable oil that is naturally extracted from the mesocarp of the oil palm fruit. It is a rich source of saturated and monounsaturated fatty acids, vitamins A and E, carotenoids, and phytosterols. Palm oil is known to help lower cholesterol levels, improve brain health, reduce oxidative stress, and enhance skin and hair health. It is commercially available in two forms, namely, crude and palm kernel oil. Palm oil has a high smoke point, on account of which it is widely utilized as vegetable oil for cooking and baking purposes.
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What are the growth prospects and trends in the India Palm Oil industry?
The India palm oil market is primarily driven by the rising use of palm oil in the cosmetics and pharmaceutical industries. Besides this, the Government of India has pledged financial aid to farmers and allowed absolute foreign direct investment (FDI) for the plantation of palm oil, which is contributing to the market growth. Moreover, the demand for palm oil is increasing for use in various edible and non-edible applications, such as surfactants, agrochemicals, biofuels, and personal care products.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Packaging Type:
- Pouches
- Jars
- Cans
- Bottles
Breakup by Packaging Material:
- Metal
- Plastic
- Paper
- Others
Breakup by Pack Size:
- Less than 1 Litres
- 1 Litres
- 1 Litres – 5 litres
- 5 Litres – 10 Litres
- 10 Litres and Above
Breakup by Domestic Manufacturing/Imports:
- Domestic Manufacturing
- Imports
Breakup by Application:
- Household Cooking
- HoReCa
- Food Processing Industry
- Oleo Chemicals
- Personal Care Products
- Animal Feed
- Biofuels
- Others
Breakup by Distribution Channel:
- Direct/Institutional Sales
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Breakup by Region:
- North India
- West and Central India
- East India
- South India
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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