Initiatives in order to enhance the production and consumption of sesame in the form of seed or oil are propelling Indian Sesame Oil Industry, says RNCOS in its latest research reports.
Indian Sesame Oil Industry is gaining momentum alongside significant growth in terms of production and consumption due to availability in forms of sesame seed, that can be directly consumed, and sesame oil, that is used in cooking and ayurvedic treatments. Therefore, the Sesame oil production in India is anticipated to grow at a CAGR of around 5% during the forecasted period 2017-18 to 2020-21 to reach 322,000 Metric Tons by 2020-21.
According to our latest research study, “Indian Sesame Oil Industry Outlook 2022”, the sesame oil market is dependent upon factors namely production, consumption and international trade. Globally, India accounts for 20% of the total sesame seed production in the world. The Sesame Oil production is proportionally related to the production of sesame seeds, whereas the supply and demand scenario is dependent upon the consumption of sesame seeds, sesame oil and their imports and exports. Due to the increasing demand of sesame seeds and its derivatives such as sesame oil, the sesame seed production is expected to grow at a CAGR of 11% during the forecasted period 2017-18 to 2020-21.
The sesame oil industry is supported by the Government of India and respective state governments, supporting the farmers in case the price of the crop drops below the minimum support price under various schemes such as ‘Price Support Scheme’. Also, many initiatives are being taken to enhance the production and consumption of sesame in the form of seed or oil.
Further, with the government support, the producers are also trying to look for other utilities of sesame oil and find new uncontested market. Due to the above mentioned factors and its growing demand backed by the support of government, the sesame oil market is expected to grow at an astonishing growth rate while finding its extensive use in various industries such as healthcare, cosmetics, etc.
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