India palm oil market size is
anticipated to reach USD 13.1 billion by 2025, according to a new report by
Grand View Research, Inc Refined derivatives are widely being utilized in food
owing to their lower price in comparison to other conventional edible oils
derived from groundnut, soybean and sunflower.
Rapid urbanization, and
changing lifestyles backed by increasing disposable income in India have
influenced consumption trends of consumers. Increasing consumption in food
& beverages and cosmetics industry is a key factor likely to boost overall
growth. A positive factor in the Indian production scenario is a significant
growth in the acreage, which registered a CAGR of approximately 20% over the
past five years.
Improving yield coupled with
reducing wastage during production by has created improved business environment
in India. In order to encourage domestic cultivation, the government provides
subsidies of up to INR 7,000 per hectare for farmers. Furthermore, to ease
capital inflows, the government also allowed 100% FDI through automatic route.
The lubricants segment is
anticipated to exhibit steady growth owing to increasing demand for numerous
commercial and industrial products including detergents, soaps, shampoos and
cleaners.
In depth research report on Indian Palm Oil Market
Further Key Findings from the Study Suggest:
•
From 2016 to 2025, CPO is
projected to register growth rates above 8%, which can be attributed to lowered
import duties. CPO import volume was nearly 6.50 million tons in 2014
•
Indonesia and Malaysia
accounted for approximately 90% of the imports in 2015. Kandla, Krishnapatanam,
Kolkata, Kakinada, Mangalore and Nhava Sheva were the leading ports of entry
from 2014 to 2016
•
Export taxes of CPO in
Indonesia and Malaysia range from 7.5%-22.5% and 4.5%-8.5% respectively. These
countries use futures exchange (Bursa Malaysia), FOB quotes, and CIF prices as
benchmarks
•
Edible oil applications
accounted for nearly 95% of the consumption volume in 2015. The segment growth
is further expected to be driven by high demand from processed foods, fast food
chains, and households
•
As of 2015, fresh fruit bunch
(FFB) produced was 1.18 million tons while oil extraction rate stood at 17%.
Improving extraction rates is paramount for domestic producers
•
Increasing acreage is critical
for sustainability of the domestic industry. As of 2015, the potential
cultivation area identified stood at 1.93 million hectares while only 0.2
million hectares were planted.
•
Key companies operating in this
market include Ruchi Soya Industries, Kamani, Acalmar Oils & Fats,
AdaniWilmar, Anik Industries, Aditya Engineers, Sundex Process Engineers Pvt. Ltd.,
Brissun Technology Pvt. Ltd. and Cargill India
Grand View Research has
segmented the India palm oil market on the basis of product and application:
India Palm Oil Product Outlook (Volume, Tons; Revenue, USD
Million; 2014 - 2025)
•
Crude palm oil
•
RBD palm oil
•
Palm stearin
•
RBD palm olein
•
Crude palm olein
•
Palm kernel
•
Palm kernel oil
•
Palm kernel cake
India Palm Oil Application Outlook (Volume, Tons; Revenue,
USD Million; 2014 - 2025)
•
Edible oil
•
Cosmetics
•
Bio-diesel
•
Lubricants
•
Surfactants
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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