India Soybean Oil Market Outlook, 2028

Soybeans have a relatively recent history in India compared to other crops. They were first introduced in the mid-20th century. Since then, soybean cultivation and the use of soybean oil have gained traction. Soybean is primarily grown in states like Madhya Pradesh, Maharashtra, Rajasthan, and Uttar Pradesh. It is a rain-fed crop, usually sown during the monsoon season and harvested in the winter. Crop rotation practices are often employed to maintain soil health. Soybean is primarily grown in states like Madhya Pradesh, Maharashtra, Rajasthan, and Uttar Pradesh. It is a rain-fed crop, usually sown during the monsoon season and harvested in the winter. Crop rotation practices are often employed to maintain soil health. India's vibrant street food culture relies on soybean oil for frying popular snacks like samosas, pakoras, vadas, and jalebis. The oil's high smoke point makes it ideal for these applications. Different regions of India have distinct culinary traditions and preferences. Soybean oil is used differently in North Indian, South Indian, East Indian, and West Indian cuisines. For example, it is commonly used for making dosas and idlis in South India. Soybean oil is favored for its health benefits. It is low in saturated fat and contains heart-healthy polyunsaturated fats, particularly omega-3 fatty acids. This makes it a preferred choice among health-conscious consumers. Soybean oil is a suitable choice for vegetarians and vegans, aligning with dietary preferences in India, where vegetarianism is common. Some regions of India recognize the medicinal properties of soybean oil. In traditional medicine systems like Ayurveda and Siddha, it is used for massage and external applications for various health benefits. Soybean cultivation and the soybean oil industry provide livelihoods for a substantial number of rural farmers and workers, contributing to the economic fabric of rural India. Some soybean oil producers in India are adopting eco-friendly and sustainable practices, including organic farming and eco-certifications, aligning with the country's growing eco-consciousness.

According to the research report, “India Soybean Oil Market Overview, 2028" published by Bonafide Research, the market is expected to witness significant growth during the forecast period. India is one of the largest consumers of edible oils globally. The rising population, urbanization, and changing dietary patterns have led to a steady increase in the demand for edible oils, including soybean oil. Health-conscious consumers in India are opting for healthier cooking oils, and soybean oil fits this preference due to its low saturated fat content and the presence of heart-healthy polyunsaturated fats. There is a noticeable shift from traditional methods of oil extraction to packaged and branded oils. Consumers are increasingly choosing packaged soybean oil for its convenience and quality assurance. As Indian consumers explore a wider range of international cuisines and cooking styles, soybean oil's neutral flavor and versatility make it a popular choice for diverse culinary applications. Food safety regulations and consumer preferences for transparency have led to improved nutritional labeling on soybean oil products, helping consumers make informed choices. Government initiatives promoting healthier cooking oils, such as the Pradhan Mantri Ujjwala Yojana (PMUY) for distributing LPG connections, indirectly influence oil choices, including soybean oil. Consumers and manufacturers are increasingly concerned about the sustainability of soybean oil production. Some brands are sourcing soybeans from sustainable and certified sources. The plant-based diet movement has encouraged the use of soybean oil as a plant-based cooking oil option, aligning with vegetarian and vegan dietary preferences. Ongoing research and development efforts aim to enhance the nutritional content and shelf life of soybean oil, making it a more attractive choice for consumers. India's diverse regional cuisines and cultural influences continue to shape soybean oil preferences. Different regions have distinct cooking traditions and may favor specific oil brands or types. Soybean oil is used as a key ingredient in the production of nutraceuticals and functional foods, aligning with the growing trend of health-focused products.

Conventional soybean oil is generally more cost-effective to produce compared to organic soybean oil. Conventional farming methods typically involve the use of synthetic pesticides and fertilizers, which can result in higher yields and lower production costs. As a result, conventional soybean oil tends to be more affordable for consumers. The majority of soybean oil production in India comes from conventional farming practices. Large-scale conventional farming operations can achieve higher production volumes, ensuring a steady and ample supply of conventional soybean oil in the market. Conventional soybean oil is well-suited for traditional Indian cooking methods, including deep frying snacks like samosas and pakoras. Its neutral flavor and high smoke point make it a preferred choice for these culinary applications. India has a significant population of price-sensitive consumers who prioritize affordability in their purchasing decisions. Conventional soybean oil's competitive pricing appeals to this segment of the population, contributing to its dominance in the market. Many Indian consumers have a preference for the familiar taste and aroma of dishes prepared with conventional soybean oil, as it aligns with traditional and authentic flavors in Indian cuisine. Conventional soybean oil has a long history in the Indian market, making it a well-established and trusted cooking oil among consumers. This market maturity has solidified its position as a staple in Indian households. Street food vendors and local eateries across India often rely on conventional soybean oil for preparing popular snacks and dishes, contributing to its widespread consumption. Conventional soybean oil prices tend to be more stable and less subject to significant fluctuations compared to organic soybean oil. This price stability makes it a reliable choice for both consumers and businesses.

The household segment is expected to hold the highest market share in the India soybean oil market based on end-users. Soybean oil is staple cooking oil in many Indian households. It is widely used for various culinary applications, including frying, sautéing, tempering, and as a base oil for everyday cooking. Its neutral flavor and versatility make it a preferred choice for Indian cooking styles. Soybean oil plays a pivotal role in traditional Indian cuisine, contributing to the taste, texture, and aroma of numerous dishes. It is an essential ingredient in preparing regional delicacies and everyday meals, making it an integral part of Indian cooking culture. Soybean oil has a high smoke point, making it ideal for deep frying, a common cooking technique in Indian cuisine. It imparts a crisp texture and golden color to fried snacks, such as pakoras, samosas, and bhajiyas, which are enjoyed across the country. Soybean oil's versatility extends beyond frying. It is used for making gravies, sauces, curries, and various Indian bread (roti) preparations. Its ability to adapt to different cooking styles and ingredients makes it a versatile choice for home cooks. Soybean oil is considered a healthy cooking oil choice by many Indian households. It is low in saturated fat, contains essential fatty acids, and is good sources of vitamin E. Health-conscious families appreciate these nutritional attributes. Soybean oil is equally popular in rural households, where it is a primary cooking oil choice due to its cost-effectiveness and widespread availability. In many households, soybean oil has replaced traditional cooking oils like mustard oil or groundnut oil due to factors like taste neutrality and price.

India has witnessed substantial growth in e-commerce platforms and online grocery shopping. Consumers increasingly prefer the convenience of shopping for groceries, including cooking oils like soybean oil, from the comfort of their homes. Rapid urbanization has led to busier lifestyles, making online shopping a convenient option for urban consumers. Online platforms provide a hassle-free way to purchase essential items like cooking oil without the need to visit physical stores. Online retailers provide door-to-door delivery services, making it convenient for consumers to receive their soybean oil orders at their chosen location. This service is particularly appealing to urban residents with busy schedules. E-commerce platforms frequently offer discounts, promotional deals, and loyalty programs that attract price-conscious consumers. These promotions can incentivize online shoppers to purchase soybean oil in larger quantities. Some online grocery platforms offer subscription services, allowing consumers to set up recurring deliveries of soybean oil and other essentials. This convenience ensures a steady supply of cooking oil without the need for repeated orders. Online shoppers can access customer reviews and ratings, helping them make informed choices about the soybean oil they purchase. This transparency builds trust and confidence in the quality of the product. E-commerce platforms often provide detailed product information, including nutritional content, ingredient lists, and certifications such as FSSAI (Food Safety and Standards Authority of India). This transparency appeals to health-conscious consumers. The COVID-19 pandemic has accelerated the adoption of online shopping as consumers prioritize contactless and hygienic methods of purchasing goods. The availability of various digital payment methods, including mobile wallets, credit/debit cards, and online banking, simplifies the payment process for online soybean oil purchases.



Considered in this report:
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• India Soybean Oil market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Nature
• Conventional
• Organic

By End User
• Household
• Industrial
• Food Service

Distribution Channel
• Convenience store
• Hypermarket/Supermarket
• Direct Sales
• Online
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Soybean Oil 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.