The Mustard Oil Market size was USD $22.3 billion in 2022 and is expected to Reach USD 31.59 billion by 2030 and grow at a CAGR of 3.6 % over the forecast period of 2023-2030.
The mustard oil industry has seen tremendous growth because mustard oil is one of the best cooking oils for heart patients because it contains an excellent Omega 3 (MUFA) and 6 Fatty Acid composition Linoleic and alpha-linolenic Acid respectively in a decent ratio close to 10.1, which is uncommon in other oils. The ideal Omega 6:3 ratio is 10:1. Mustard oil, which is derived from mustard seeds, has a strong flavor and an unpleasant odor. Mustard has around 38-40% oil, whereas rapeseed contains approximately 42% oil.
Mustard oil is available in three varieties: B. nigra (black mustard), B. juncea (brown mustard), and B. hirta (white mustard). Rapeseed oil is known as sarson, toria, or lahi in different regions of the world, whereas mustard is known as rai, raya, or laha. Mustard is the most important member of the group, accounting for more than 70% of the area under rapeseed oil, followed by toria, yellow sarson, and brown sarson.
KEY DRIVERS:
Increasing culinary applications and consumer demand for classic flavors.
Natural and organic cooking oils are becoming more popular.
Natural and organic cooking oils have grown in popularity in recent years, owing to a significant shift in consumer tastes. Individuals are drawn towards these oils because of their apparent purity and nutritional advantages in a world that is more focused on health and wellbeing. These oils keep their original flavors, antioxidants, and key nutrients with little processing, ideally matching the needs of health-conscious customers seeking not just better options but also a more sustainable approach to their culinary choices.
RESTRAIN:
Mustard seed farming areas are limited.
Concerns about allergens are influencing consumer demand.
Concerns about allergies have begun to have a substantial impact on consumer choices and demand patterns. Consumers are becoming more careful and choosy in their selections as they become more aware of allergenic compounds included in various products, especially food items such as cooking oils. As consumers prioritize their health and safety, this trend is pushing a move towards allergen-free or allergen-labeled products, eventually redefining purchasing decisions and steering markets toward more transparent and inclusive offers.
OPPORTUNITY:
Ethnic cuisines are becoming increasingly popular across the world.
There is a growing interest in Ayurvedic and traditional medicines.
A surge in interest in Ayurveda and traditional remedies is sweeping the world's health and wellness communities. Ayurveda, which is based on ancient knowledge, provides comprehensive approaches to well-being by emphasizing natural therapies and mind-body harmony. This revival is driven by a desire for personalized and natural solutions, prompting consumers to investigate the numerous advantages of Ayurveda practices, herbs, and formulations, and opening up chances for goods that adhere to these principles to thrive in the market.
CHALLENGES:
Other cooking oils compete in the market.
Changing dietary habits and preferences.
Changing dietary habits and tastes are altering the consumer food environment. People are becoming more health-conscious, favoring plant-based, low-fat, and nutrient-dense foods. This trend is being driven by a desire for better health, environmental concerns, and an increasing demand for different and culturally influenced cuisines, which is driving the food industry to innovate and adapt to changing customer needs.
The conflict between Russia and Ukraine has the potential to affect the Mustard Oil market on numerous fronts. Supply chain disruptions, such as a lack of availability of crucial materials such as mustard seeds, might result in shortages and price changes. Furthermore, geopolitical instability may have an influence on export-import dynamics, affecting distribution networks and consumer demand as economic worries increase, creating difficulties in market stability and growth.
The supply chain was disrupted by the Russia-Ukraine conflict, which led to a spike in the price of goods like Black mustard, Brown mustard, White mustard, and Food & Beverages. Food prices at home are expected to rise 2.1 %, with a projection range of -5.1 to 9.9%. Many F&B firms raised prices by 15% as costs grew by that much. Food and beverage prices in October were 13.3% higher than a year before, up 1.4% from September. Food and non-alcoholic drinks increased 14.9% in the year to July 2023.
The Russia-Ukraine war has increased the cost of commodities, which has a negative effect on the market.
The current recession has the potential to have a significant influence on the Mustard Oil industry. Consumers may prioritize necessities, resulting in less discretionary purchases such as premium cooking oils. Furthermore, reduced consumer purchasing power may result in a move towards more cost alternatives, thus hurting sales of higher-priced mustard oil products and changing market dynamics.
The price of commodities grew as a result of the recession, including Food and Beverages, Pharmaceuticals, Cosmetics and Personal Care, and Others. The average price increase for these drugs was 31.6 %. In 2022, certain pharmaceuticals will cost more than $20,000, or 500% higher. Prices for essential prescriptions are expected to rise by 12% this year, the highest annual price increase in history. Prices for 384 vital drugs and over 1,000 formulations are expected to rise by more than 11% due to a large increase in the Wholesale Price. Lipstick prices rose 4% in the fourth quarter and 7% in January 2023, maintaining pace with inflation, while face and eye makeup prices rose 11% and 12%, respectively.
The impact of the ongoing recession has increased the cost of commodities, which has a negative effect on the market.
By Type:
Black mustard
Brown mustard
White mustard
By Application:
Food and Beverages
Pharmaceuticals
Cosmetics and Personal Care
Others
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Asia-Pacific: The Asia-Pacific area accounts for more than 60% of worldwide demand for mustard oil. India is the region's top user of mustard oil, followed by China and Bangladesh. Mustard oil is in great demand throughout Asia-Pacific due to its culinary applications as well as its supposed health advantages.
North America: The mustard oil market in North America is modest, but it is predicted to develop over the forecast period. The expanding popularity of Indian and Asian cuisine, as well as consumer health concerns, are driving development in the North American market.
Europe: The European mustard oil market is likewise tiny, but it is predicted to develop throughout the projection period. The expanding popularity of Indian and Asian cuisine, as well as consumer health consciousness, are driving development in the European market.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin Americ
Some major key players in the Mustard Oil Market are Adani Wilmar Limited, Archer Daniels Midland Company, Ambuja Agro Industries Ltd, Bansal Oil Mill Limited, Cargill Incorporated, K S Oils, Mother Dairy Fruit & Vegetable Pvt. Ltd., Saloni Mustard Oil, Taj Agro Products, and Emami Agro Ltd. and other players.
Archer Daniels Midland Company debuted a new mustard oil brand called Simply Nature Mustard Oil in the United States in April 2023. It is marketed as a premium mustard oil derived from non-GMO mustard seeds.
Ambuja Agro Industries Ltd. announced a new mustard oil brand named Ambuja Kachi Ghani Mustard Oil on March 8, 2023. It is marketed as a premium mustard oil produced utilizing the traditional kachi ghani extraction technique.
| Report Attributes | Details |
| Market Size in 2022 | US$ 22.3 Billion |
| Market Size by 2030 | US$ 31.59 Billion |
| CAGR | CAGR of 3.6 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Black Mustard, Brown Mustard, White Mustard) • By Application (Food and Beverages, Pharmaceuticals, Cosmetics and Personal Care, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Adani Wilmar Limited, Archer Daniels Midland Company, Ambuja Agro Industries Ltd, Bansal Oil Mill Limited, Cargill Incorporated, K S Oils, Mother Dairy Fruit & Vegetable Pvt. Ltd., Saloni Mustard Oil, Taj Agro Products, and Emami Agro Ltd. |
| Key Drivers | • Increasing culinary applications and consumer demand for classic flavors. • Natural and organic cooking oils are becoming more popular. |
| Market Challenges | • Other cooking oils compete in the market. • Changing dietary habits and preferences. |
Ans: The Mustard Oil Market is expected to grow at a CAGR of 3.6%.
Ans: The Mustard Oil Market size was USD $22.3 billion in 2022 and is expected to Reach USD 31.59 billion by 2030.
Ans: Transition to Natural and Organic Products is growing the demand for the market.
Ans: Regulations and Health Issues may restrict the market growth.
Ans: Asia Pacific region is dominating the market.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Mustard Oil Market Segmentation, By Type
8.1 Black mustard
8.2 Brown mustard
8.3 White mustard
9. Mustard Oil Market Segmentation, By Application
9.1 Food and Beverages
9.2 Pharmaceuticals
9.3 Cosmetics and Personal Care
9.4 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Mustard Oil Market by Country
10.2.2 North America Mustard Oil Market by Type
10.2.3 North America Mustard Oil Market by Application
10.2.4 USA
10.2.4.1 USA Mustard Oil Market by Type
10.2.4.2 USA Mustard Oil Market by Application
10.2.5 Canada
10.2.5.1 Canada Mustard Oil Market by Type
10.2.5.2 Canada Mustard Oil Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Mustard Oil Market by Type
10.2.6.2 Mexico Mustard Oil Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Mustard Oil Market by Country
10.3.1.2 Eastern Europe Mustard Oil Market by Type
10.3.1.3 Eastern Europe Mustard Oil Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Mustard Oil Market by Type
10.3.1.4.2 Poland Mustard Oil Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Mustard Oil Market by Type
10.3.1.5.2 Romania Mustard Oil Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Mustard Oil Market by Type
10.3.1.6.2 Hungary Mustard Oil Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Mustard Oil Market by Type
10.3.1.7.2 Turkey Mustard Oil Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Mustard Oil Market by Type
10.3.1.8.2 Rest of Eastern Europe Mustard Oil Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Mustard Oil Market by Country
10.3.2.2 Western Europe Mustard Oil Market by Type
10.3.2.3 Western Europe Mustard Oil Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Mustard Oil Market by Type
10.3.2.4.2 Germany Mustard Oil Market by Application
10.3.2.5 France
10.3.2.5.1 France Mustard Oil Market by Type
10.3.2.5.2 France Mustard Oil Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Mustard Oil Market by Type
10.3.2.6.2 UK Mustard Oil Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Mustard Oil Market by Type
10.3.2.7.2 Italy Mustard Oil Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Mustard Oil Market by Type
10.3.2.8.2 Spain Mustard Oil Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Mustard Oil Market by Type
10.3.2.9.2 Netherlands Mustard Oil Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Mustard Oil Market by Type
10.3.2.10.2 Switzerland Mustard Oil Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Mustard Oil Market by Type
10.3.2.11.2 Austria Mustard Oil Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Mustard Oil Market by Type
10.3.2.12.2 Rest of Western Europe Mustard Oil Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Mustard Oil Market by Country
10.4.2 Asia Pacific Mustard Oil Market by Type
10.4.3 Asia Pacific Mustard Oil Market by Application
10.4.4 China
10.4.4.1 China Mustard Oil Market by Type
10.4.4.2 China Mustard Oil Market by Application
10.4.5 India
10.4.5.1 India Mustard Oil Market by Type
10.4.5.2 India Mustard Oil Market by Application
10.4.6 Japan
10.4.6.1 Japan Mustard Oil Market by Type
10.4.6.2 Japan Mustard Oil Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Mustard Oil Market by Type
10.4.7.2 South Korea Mustard Oil Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Mustard Oil Market by Type
10.4.8.2 Vietnam Mustard Oil Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Mustard Oil Market by Type
10.4.9.2 Singapore Mustard Oil Market by Application
10.4.10 Australia
10.4.10.1 Australia Mustard Oil Market by Type
10.4.10.2 Australia Mustard Oil Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Mustard Oil Market by Type
10.4.11.2 Rest of Asia-Pacific Mustard Oil Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Mustard Oil Market by Country
10.5.1.2 Middle East Mustard Oil Market by Type
10.5.1.3 Middle East Mustard Oil Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Mustard Oil Market by Type
10.5.1.4.2 UAE Mustard Oil Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Mustard Oil Market by Type
10.5.1.5.2 Egypt Mustard Oil Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Mustard Oil Market by Type
10.5.1.6.2 Saudi Arabia Mustard Oil Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Mustard Oil Market by Type
10.5.1.7.2 Qatar Mustard Oil Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Mustard Oil Market by Type
10.5.1.8.2 Rest of Middle East Mustard Oil Market by Application
10.5.2 Africa
10.5.2.1 Africa Mustard Oil Market by Country
10.5.2.2 Africa Mustard Oil Market by Type
10.5.2.3 Africa Mustard Oil Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Mustard Oil Market by Type
10.5.2.4.2 Nigeria Mustard Oil Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Mustard Oil Market by Type
10.5.2.5.2 South Africa Mustard Oil Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Mustard Oil Market by Type
10.5.2.6.2 Rest of Africa Mustard Oil Market by Application
10.6 Latin America
10.6.1 Latin America Mustard Oil Market by Country
10.6.2 Latin America Mustard Oil Market by Type
10.6.3 Latin America Mustard Oil Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Mustard Oil Market by Type
10.6.4.2 Brazil Mustard Oil Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Mustard Oil Market by Type
10.6.5.2 Argentina Mustard Oil Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Mustard Oil Market by Type
10.6.6.2 Colombia Mustard Oil Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Mustard Oil Market by Type
10.6.7.2 Rest of Latin America Mustard Oil Market by Application
11 Company Profile
11.1 Adani Wilmar Limited
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Archer Daniels Midland Company
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Ambuja Agro Industries Ltd
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Bansal Oil Mill Limited
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Cargill Incorporated
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 K S Oils
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Mother Dairy Fruit & Vegetable Pvt. Ltd
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Saloni Mustard Oil
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Taj Agro Products
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Emami Agro Ltd.
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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