Please Wait.....
Report
Bangladesh Mustard Oil Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Bangladeshi mustard oil market is projected to record a CAGR of 5.8% during the forecast period (2023 - 2028).
Due to a substantial shift in demand dynamics, the mustard oil sector in Bangladesh underwent a dramatic disruption with the outbreak of the COVID-19 pandemic. However, during the post-lockdown period, there was a significant shift in food consumption patterns. Dining out became much less popular, and people began to prefer home-cooked meals by experimenting with new recipes. As a result, demand for household edible oil packs such as mustard oil increased.
Despite the fact that mustard is a major source of adulteration, changing consumer dietary habits and the use of mustard oil in Bangladeshi dishes are driving demand for mustard oil. The market is fragmented and unorganized, owing to the strong presence of domestic players. As a result, new entrants must contend with fierce competition, as local players command a disproportionate share of the market in terms of revenue.
Because mustard oil is a commodity, the greater the availability, the greater the market penetration. Though the oil is more expensive than other edible oils, mustard oil accounts for about 5-6 percent of the Bangladesh edible oil market.
Bangladesh Mustard Oil Market Trends
Evolving Dietary Patterns
Due to rising disposable income, the overall socio-economic development has led to diversified dietary patterns. The rising trend of fast food culture has promoted strong flavored cuisines, wherein mustard oil is utilized. Eating habits are also influenced by rising health consciousness. In Bangladesh, cardiovascular diseases alone contributed to almost 20% of the total mortality in 2020. Over the last 33 years, the rates of overweight and obesity doubled among Bangladeshi adults. According to the Lancet report, nearly one in every five adults is too heavy. As per the projections of the Organization for Economic Co-operation and Development (OECD) and Food and Agriculture Organization (FAO), the demand from developing countries surpasses that of developed ones. Bangladesh finds a specific mention in the list of those emerging economies where edible oil is designated as a basic commodity. According to Food and Agricultural Organization, the export value of Bangladesh was USD 15.97 million, and the import value of Bangladesh was USD 174.71K in 2020.
Convenience Stores Holds the Largest Market Share
The Bangladeshi retail market is dominated by convenience stores, including roadside shops, municipal corporation markets, and open-air temporary shops. The convenience store segment is dominated by open-air and roadside shops, which account for an approximate share of 70%. The government, in collaboration with local distributors, has developed a distributorship system to restrict the mustard oil fluctuations and eliminate middlemen in the edible oil market. The global players entering the Bangladesh mustard oil market are trying to expand their presence by increasing their collaboration with local distributors through convenience stores. Hence, the key factor responsible for the presence of mustard oil in roadside and open-air stores is convenience, enabling easy availability of products and thus aiding the growth of the market in the country.
Bangladesh Mustard Oil Market Competitor Analysis
Bangladesh mustard oil market is a competitive market, which domestic players dominate. Some of the prominent players in the market include Willmar international, Pran, and Partex Group. There is a huge potential for foreign brands to set up a strong base and achieve higher brand loyalty if the packaging and branding strategies are done right. Mustard oil has a limited share in the Bangladesh oil sector; it is considered a specialty purpose cooking oil due to its odor characteristics, quality, and user experience.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Convenience stores
5.1.2 Hypermarket/Supermarket
5.1.3 Online Channel
5.1.4 Others
5.2 By Packaging
5.2.1 Pouch
5.2.2 Bottle
5.2.3 Others
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Strategies Adopted
6.3 Company Profiles
6.3.1 Pran Foods Ltd.
6.3.2 Wilmar International Ltd
6.3.3 Ovijat Food & Beverage Industries
6.3.4 Bangladesh Edible Oil Ltd.
6.3.5 Partex Star Group
6.3.6 City Group
6.3.7 ACI Limited
6.3.8 Square Food & Beverage Limited
6.3.9 Orion Group
6.3.10 Farmroots
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security