In 2022, the Indian edible oil market grew by 24.3 million tonnes. Projections indicate continued growth with a 5.1 percent volume growth in 2024. The average volume per person in the Edible Oils segment is expected to reach 4.47 kg in 2023.
The surge in demand for premium and value-added oils can be attributed to a growing awareness of health concerns. This trend is further bolstered by factors such as population growth, economic expansion, bulk exports, and improved agricultural yields. Effective marketing techniques, evolving consumer preferences, and a shift towards branded and cold-pressed oils are also contributing to the expansion of the market.
Branded oils, in particular, are gaining traction as more people are consuming these products at home. BN Group, an established manufacturer of edible oils in India, has been operating for more than a decade, mainly serving the B2B market through retail brands such as Simply Fresh and Healthy Value.
However, the company is now looking to shake up the market by introducing new products. "Our focus is to provide high-quality and healthy edible oils that will offer customers a fresh perspective on consumption. In many ways, this approach will deviate from the status quo”, says Anubbhav Aggarwal, Founder & Managing Director, BN Group.
Geographical Expansion on the Anvil
What sets BN Group apart is its unwavering commitment to its "Purpose." The company is dedicated to investing in and educating its customers in order to revolutionize the way people use oil.
BN Group currently has a robust presence in Uttar Pradesh, Uttarakhand, Gujarat, and other regions of Northern India. However, the company is now looking to expand its retail distribution network in Rajasthan, Maharashtra, Punjab, Haryana, Himachal Pradesh, and the National Capital Region. The company has a corporate presence in Mumbai and Noida, with its Promoter Office located in New Delhi. "This year, BN Group plans to develop innovative products that cater to customers' tastes and preferences and intends to release new healthy products to consumers", shares Manish Satnaliwala, Group CEO.
The organization is committed to driving innovation & transformation with a vision to provide healthy & tasty products to its consumers
Staying True to Name Sake
"The name BN Group represents 'Build Nation', which underscores the company's commitment to conveying a strong, honest, and responsible message. This aligns with the company's mission to provide socially conscious goods and services across its current and future product lines. The organization is committed to driving innovation and transformation with a vision to provide healthy and tasty products to its consumers", the Group CEO states.