About Oils & Fats Industry:
Bangladesh is the world's sixth largest edible oil economy. Currently, the country consumes around 3.3 million tonnes of oils and fats annually, with palm oil and soybean oil being the dominant types. Palm oil and soybean oil dominate the market, accounting for over 85% of total consumption. The growing demand reflects Bangladesh's increasing purchasing power and changing dietary habits.
The Rice Bran Oil Market size is estimated at 532.67 Million liters in 2024, and is expected to reach 714.18 Million liters by 2029, growing at a CAGR of 6.04% during the forecast period (2024-2029). Bangladesh is 3rd largest rice production country globally. The rice bran oil market is driven by rising consumer health consciousness and high demand for nutritional and fat-free food and beverages owing to its mild flavor, neutral taste, and rich nutrient content. Rice bran oil is extensively used in culinary activities across most Asia-Pacific cuisine. These factors propel the sales of edible oils in the market.
The mustard oil market in Bangladesh is a significant segment of the country's edible oil industry, driven by its traditional culinary and cultural importance. Mustard oil is widely used in Bangladeshi cuisine and is also valued for its medicinal and cosmetic applications. Bangladesh's mustard oil market has shown consistent growth, largely driven by its role in traditional cuisine and an increasing focus on home-cooked meals. Mustard oil remains a staple in Bangladeshi households due to its strong flavor, health benefits, and cultural significance. The annual consumption of mustard oil in Bangladesh is heavily influenced by domestic production.
The consumption of sunflower oil in Bangladesh has been steadily increasing as consumers seek healthier cooking options and as sunflower oil gains popularity in both households and the food industry. In particular, sunflower oil is increasingly being used in various sectors, such as food processing, personal care, and even as a component in industrial uses. The growth is projected to continue as sunflower oil becomes more accessible, especially with the expansion of packaging options ranging from small bottles to larger containers suitable for commercial use.The market is expected to grow further in the coming years, with some reports forecasting continued demand as consumer preferences shift towards healthier oils.
