Edible Oil is one of the most used ingredients in cooking and the edible oil industry has seen a vast change due to the increased health awareness of the the people in General. Most of the People are moving from the traditionally used dairy based oils to the more healthier Plant and Seed Based oils such as Peanut Oil, Sunflower Oil, Olive Oil, etc. The Increase in Population has seen a Steady Increase in the Demand which has led to a steady growth in the Edible Oil Industry at a CAGR of about 11%-15% for the past Decade and is forecasted to increase at a steady pace of CAGR 5% - 7% in the coming 5 years.
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Almost 35 % of the of Estimated $ 120 Billion Edible Oil Industry is Retailed to Households across the counter with the balance being consumed by the Food Processing and Foodservice Industry. The Recent Past has seen a Drastic Increase in the consumption of Palm Oil, which is one of the Cheapest Edible Oils and is commonly used as an additive and Feed stock for Bio Fuel production. Due to the Increased Demand of Palm Oil, Plantations of Palm have been done in almost all countries to provide Raw Material for Local companies. Despite Local Productions, Countries of Large Populations depend heavily on Palm Oil and Other Edible Oils Imports to meet the requirements.
The Largest Importer of Edible Oil in the World is India from Indonesia and Malaysia and is also the world’s Third Largest consumer. India also produces 9 types of Oilseeds making it the world’s 4 th Largest Oil Seed Producing Country following USA, China and Brazil.
The Indian Edible Oil Industry & Market has grown Steadily and has a telling impact on the World Scenario. India Accounts for 10-12% of the Total Oil Consumption, about 8% of the Seed Production and close to 15% of Oil Imports due to the mismatch in the Raw material Production and Oil Extraction Industries in the country.