The groundnut oil market size in India exhibited notable fluctuations from 2014 to 2023. Starting at 1.03 million metric tons in 2014, there was a significant dip in 2015 but rebounded sharply by 2016, reaching 1.46 million metric tons. This growth continued to peak at 1.84 million metric tons in 2017. Despite a decline in 2018, the market made a recovery and stabilized, increasing by approximately 2% annually from 2020 onward, standing at 1.7 million metric tons in 2023. Over the past five years leading up to 2023, the market experienced an average annual growth rate (CAGR) of 3.87%.
Future trends to watch for include:
- Forecasts suggest a steady annual CAGR of 1.5% towards 2028.
- Innovations in extraction technologies and the increasing demand for healthier cooking oils may drive market growth.
- Government policies and consumer trends favoring organic and non-GMO products could influence market dynamics.
