India - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIndia's Export of Vegetable Oils Reaches Historic $135 Million Milestone in 2023
India Vegetable Oils Exports
In 2023, overseas shipments of vegetable fats and oils decreased by -3.2% to 45K tons, falling for the second year in a row after six years of growth. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 17% against the previous year. Over the period under review, the exports reached the maximum at 57K tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.
In value terms, vegetable oils exports skyrocketed to $135M (IndexBox estimates) in 2023. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by 34% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.
| COUNTRY | Export Value of Vegetable Oils in India (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Belgium | 5.6 | 5.9 | 4.8 | 3.4 | 5.0 | 4.3 | 5.1 | 2.5 | 4.6 | 3.8 | 49.2 |
| United States | 7.2 | 8.5 | 8.6 | 7.3 | 8.8 | 9.1 | 11.3 | 11.2 | 14.9 | 20.9 | 19.2 |
| Netherlands | 12.9 | 14.8 | 14.0 | 13.0 | 16.1 | 15.7 | 19.6 | 13.6 | 19.9 | 21.0 | 14.0 |
| Japan | 8.2 | 9.2 | 9.0 | 7.3 | 9.9 | 10.8 | 11.4 | 8.2 | 13.8 | 13.7 | 8.3 |
| Italy | 2.9 | 3.3 | 3.7 | 3.6 | 5.7 | 5.4 | 5.4 | 4.1 | 6.2 | 5.4 | 5.7 |
| Bhutan | N/A | N/A | 0.3 | 0.5 | 0.9 | 3.1 | 2.9 | 4.0 | 5.8 | 5.7 | 4.6 |
| United Arab Emirates | 2.1 | 2.2 | 2.0 | 2.0 | 1.8 | 2.3 | 2.0 | 1.9 | 2.7 | 3.2 | 3.7 |
| Turkey | 3.2 | 2.6 | 2.5 | 2.0 | 2.9 | 3.0 | 3.4 | 3.0 | 3.8 | 3.5 | 3.6 |
| China | 2.1 | 18.4 | 1.4 | 1.1 | 1.4 | 1.9 | 5.3 | 6.4 | 2.1 | 2.3 | 1.3 |
| Others | 24.6 | 18.3 | 16.9 | 16.0 | 20.5 | 20.5 | 22.2 | 20.5 | 27.4 | 24.9 | 25.4 |
| Total | 68.8 | 83.1 | 63.2 | 56.2 | 73.1 | 76.2 | 88.7 | 75.4 | 101 | 104 | 135 |
Exports by Country
the United States (7K tons), the Netherlands (6.9K tons) and Belgium (5.6K tons) were the main destinations of vegetable oils exports from India, with a combined 43% share of total exports. Japan, Bhutan, Italy, Turkey, the United Arab Emirates and China lagged somewhat behind, together comprising a further 33%.
From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bhutan (with a CAGR of +37.1%), while the other leaders experienced more modest paces of growth.
In value terms, Belgium ($49M) emerged as the key foreign market for vegetable fats and oils exports from India, comprising 36% of total exports. The second position in the ranking was taken by the United States ($19M), with a 14% share of total exports. It was followed by the Netherlands, with a 10% share.
From 2013 to 2023, the average annual rate of growth in terms of value to Belgium totaled +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.4% per year) and the Netherlands (+0.8% per year).
Export Prices by Country
In 2023, the vegetable oils price stood at $2,990 per ton (FOB, India), rising by 33% against the previous year. In general, the export price showed a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Belgium ($8,828 per ton), while the average price for exports to Bhutan ($1,423 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the vegetable oils market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
