India Olive Oil Market With Current Trends Analysis,2014-2020 FMI | Page 4

Report
Description
Report Description
Traditionally in India the high saturated fatty oil such as ghee or vanaspati were used but
due to rise in health concerns, the consumption pattern changed towards vegetable
refined oil such as sunflower, soybean, or corn oil. This trend remained continued in the
Indian perception and thus they shifted their demand towards olive oil. Thus, increasing
health awareness, strong economic growth and exposure to western lifestyle in the recent
years among the wealthy and middle income group has fuelled the market growth of olive
oil in India. Additionally, awareness of the consumers towards various grades of olive oils
and their beneficial uses has also drive the demand of Indian market for olive oil.
However there are some restraining factors which are effecting the Indian market growth
for olive oil, such as commercially olive oil are not manufactured in India it is specifically
imported from Spain or Italy, due this it incurs high cost and sold at high price in the Indian
market. Moreover, the Indian trade standards for olive oil are outdated and obsolete. It
does not aligned with the trade standard of Codex, EU, IOC and others. Thus it creates
problems for manufacturers and importers to sell and market this product in India.

The key consumers for olive oil includes food industry, beauty care and cosmetic industries
and pharmaceutical industries and end consumers. As an edible product