The global Mustard Oil market stood at approximately 10.2 million tonnes in 2023 and is anticipated to grow at a CAGR of 3.5% during the forecast period until 2034.
Mustard oil, abundant in alpha-linolenic acid, an essential fatty acid known for its cholesterol-lowering properties and heart disease risk reduction, was associated with a twofold decrease in risk compared to sunflower and other oils. Asian nations such as India, Thailand, and Pakistan predominantly utilize mustard oil in cooking and frying various dishes. Conversely, countries such as the USA, Canada, and Europe have prohibited the consumption of this oil for culinary purposes.
Mustard oil, extracted from the seeds of mustard plants, is a versatile product with diverse applications. Primarily known as a cooking oil, particularly favoured in South Asian and Indian cuisines for its distinct flavour and aroma, mustard oil serves as a key ingredient in frying, sautéing, and marinating various dishes. Beyond the culinary realm, mustard oil holds significance in traditional medicine systems like Ayurveda, where it is believed to possess medicinal properties such as antibacterial, antifungal, and anti-inflammatory effects. Often used topically, it is employed in massages to alleviate joint pain and muscle soreness. Additionally, its emollient properties make it a valuable component in skincare products, moisturizing creams, and haircare formulations, offering nourishment and potential anti-aging benefits to the skin while promoting hair growth and scalp health.
The Mustard Oil market is experiencing notable growth due to several key factors. Firstly, its recognized health benefits, such as its high content of monounsaturated and polyunsaturated fats, omega-3 fatty acids, and potential for reducing cholesterol levels and heart disease risk, are driving consumer interest in adopting it as a healthier cooking alternative. Secondly, mustard oil holds significant cultural and culinary importance, particularly in regions like South Asia and parts of Africa, where its distinct flavour and aroma enhance traditional dishes. Secondly, health benefits associated with Mustard Oil, including its high content of monounsaturated and polyunsaturated fats, omega-3 fatty acids, and potential for reducing cholesterol levels and cardiovascular risks, favours market expansion. Additionally, the oil's versatility extends beyond the kitchen; its moisturizing properties make it a sought-after ingredient in skincare and haircare products, while its perceived medicinal benefits contribute to its inclusion in traditional remedies. The rising demand for natural products amidst growing awareness of synthetic chemicals further boosts its appeal, aligning with consumer preferences for clean label and sustainable options in the coming years. The global Mustard Oil market is likely to reach approximately 14.9 million tonnes in 2034.
Geographically, the Asia Pacific region emerges as the primary consumer of Mustard Oil, a trend expected to persist in the foreseeable future due to several pivotal factors. Firstly, cultural and culinary traditions deeply embedded in countries like India and Bangladesh prioritize the use of Mustard Oil in cooking, making it a staple ingredient in numerous dishes. Additionally, the versatile nature of Mustard Oil, extending beyond culinary applications to include skincare, haircare, and traditional medicine, further contributes to its widespread use and consumption in the region. Lastly, the sheer population size of the Asia Pacific region, coupled with its rapid urbanization and economic growth, ensures a large and growing consumer base for Mustard Oil. As incomes rise and dietary preferences evolve, the demand for this versatile oil is anticipated to remain robust, consolidating the Asia Pacific region's position as the largest consumer of Mustard Oil in the global market landscape. Currently, India is the leading producer and consumer of mustard oil on a global scale.
Based on the end-user industry, the global Mustard Oil market is divided into Personal Care & Cosmetics, Food & Beverages, Pharmaceuticals, and Others. Among these, Food & Beverages is the major segment and held about 68% of the global Mustard Oil market in 2023 and is anticipated to prevail the same trend in the forthcoming years.
Major players in the Global Mustard Oil market are Adani Wilmar Limited, Taj Agro Products, Unilever, K S Oils, Cargill Incorporated, Archer Daniels Midland Company, Ambuja Agro Industries Ltd, Emami Agro Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Mustard Oil which covers production, demand and supply of Mustard Oil market in the globe.
• To analyse and forecast the market size of Mustard Oil
• To classify and forecast Global Mustard Oil market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Mustard Oil market in the globe.
To extract data for Global Mustard Oil market, primary research surveys were conducted with Mustard Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Mustard Oil market over the coming years.
ChemAnalyst calculated Mustard Oil demand across the globe by analyzing the volume of Mustard Oil consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Mustard Oil manufacturers and other stakeholders
• Organizations, forums and alliances related to Mustard Oil distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Mustard Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Mustard Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
10.2 million tonnes
Market size Volume in 2034
14.9 million tonnes
Growth Rate
CAGR of 3.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Personal Care & Cosmetics, Food & Beverages, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Mustard Oil in terms of volume in 2023?
Ans:
What was the net market size of Mustard Oil in terms of volume in 2023?
Q2.
Which industry is the leading end-user industry of Mustard Oil?
Ans:
The Food & Beverages industry is the leading end-user industry of Mustard Oil globally.
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