` New Olive Oil Brands Find Space in Indian Edible Oils Market - Olive Oil Times

New Olive Oil Brands Find Space in Indian Edible Oils Market

Aug. 8, 2012
Vikas Vij

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The Indian edi­ble oils mar­ket has been wit­ness­ing the entry of a slew of olive oil brands that are com­pet­ing aggres­sively for shelf space with estab­lished ones.

Nearly forty brands have come up over the past few years with both local traders and importers join­ing the grow­ing olive oil band­wagon. Global com­pa­nies such as Cargill and Borges have launched their brands in India, while domes­tic brands such as Leonardo from Dalmia Continental are also con­sol­i­dat­ing their mar­ket share.

The high sales vol­umes and rapid growth rates achieved by lead­ing com­pa­nies such as Bharti-Delmonte, Borges and Dalmia is encour­ag­ing new play­ers to enter the fray. A lead­ing Indian com­pany, Modi Naturals, has recently intro­duced its olive oil brand Oleev” in the North Indian mar­ket, while Adani Wilmar, a major player in the edi­ble oil indus­try, is plan­ning to bring its global partner’s olive oil brand into India.

Olive oil brands are find­ing promi­nence at most of the lead­ing super­mar­kets and mod­ern retail stores. Retailers are keen to allo­cate a greater space to these brands on their shelves because the demand is grow­ing, despite the fact that olive oil is about three to four times cost­lier than tra­di­tional Indian edi­ble oils. India’s annual per capita con­sump­tion of olive oil stood at 0.0054 kg (a lit­tle over one tea­spoon) as of March, 2012, com­pared to the global aver­age of 0.43 kg.

Modi Naturals Ltd. said its national roll-out is not only focus­ing on the met­ro­pol­i­tan cities that have a high expo­sure to inter­na­tional lifestyles, but they also plan to tar­get smaller cities and towns. Modi Naturals has devel­oped a blend of olive oil with rice bran oil, which will be mar­keted under the brand Oleev Active.

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