Edible Oils in Asia Pacific

June 2019

Asia Pacific is the leading edible oils region globally. While India is mainly powering growth in the region, neighbouring countries such as Pakistan, Bangladesh and other developing countries are also making strong contributions to the region's growth. Edible oils is evolving as consumers are moving to packaged formats and transitioning to healthier and more premium oils. Development of modern grocery retail is expected to drive additional sales in the region.

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Key findings

Asia Pacific is the world's biggest edible oils market driven by the move towards packaged variants

Edible oils in Asia Pacific accounts for over 50% of global retail value share and is also the fastest growing region. India holds the largest share within the region. Quality and hygiene concerns are driving the shift to packaged edible oils in developing countries despite vast consumption of unpackaged formats. Asian countries have developed local alternatives to generic oils which address specific health needs and are perceived to be better for you including coconut, rice and flaxseed.

Goods and Services Tax introduced in India in 2017 impacted regional growth in 2018

Goods and Services Tax (GST) was introduced in the second half of 2017 in India and the lack of clarity on the new tax regime led manufacturers to reduce production of many products including edible oils for a short period of time. The after-effects of GST were witnessed during the first half of 2018 as overall retail value growth came down and in turn affected regional growth. However, edible oils is expected to strengthen over 2018-2023 led by India and followed by other emerging countries.

Chinese and Indian companies dominate sales

Nine out of the top 10 edible oils companies are based in China and India, and mainly sell in their respective countries. Two prominent brands Arawana and Fortune hold the leading positions in the region with presence in more than one country. Wide variety of edible oils, heavy promotions coupled with brand trust over quality has helped the companies to retain the top spots.

Independent grocery retailers is key channel for edible oils

Traditional grocery retailers such as kirana stores are spread widely across Asia Pacific which sell mainly unpackaged and small volume pack sizes. Since lower income groups make up the highest percentage of the region, they rely on cheaper products sold through such retailers. However, supermarkets, hypermarkets and internet retailing are preferred options in the developed countries and China.


Key findings

Regional Overview

Asia Pacific in context
Asia Pacific to post steady growth despite slowdown in 2017/2018
Palm, soy and rapeseed are the biggest contributors to edible oils growth
Edible oils preferences show significant variation across Asia Pacific
Sales in China decline as soy and rapeseed oil lose consumer traction
Interest in healthy lifestyles promotes growth of premium oils
Independent small grocers remains the leading distribution channel
Penetration and wide portfolio of products essential for the retailers

Leading Companies and Brands

Highly fragmented market in India and its neighbours
Chinese and Indian companies gain upper hand in the region
Domestic companies lead the sales in their respective regions
Arawana is the leading edible oil brand in the region followed by Fortune

Forecast Projections

India expected to achieve the fastest growth, followed by Pakistan
Shifting focus towards packaged, healthier and more premium oils

Country Snapshots

India: market context
India: competitive and retail landscape
Pakistan: market context
Pakistan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Vietnam: market context
Vietnam: competitive and retail landscape
China: market context
China: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Uzbekistan: market context
Uzbekistan: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Kazakhstan: market context
Kazakhstan: competitive and retail landscape
Azerbaijan: market context
Azerbaijan: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
Sri Lanka: market context
Sri Lanka: competitive and retail landscape
Myanmar: market context
Myanmar: competitive and retail landscape
Bangladesh: market context
Bangladesh: competitive and retail landscape


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