Market Size of Bangladesh Mustard Oil Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.61 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bangladesh Mustard Oil Market Analysis
The Bangladesh mustard oil market is projected to record a CAGR of 5.61% during the forecast period.
- Bangladesh's growth of the mustard oil market underwent a dramatic disruption due to the COVID-19 pandemic, which led to a substantial shift in market demand dynamics. The market witnessed a significant shift in food consumption patterns wherein consumers started preferring home-cooked meals and experimenting with new recipes. This raised the demand and consumption of edible oils, including mustard oil.
- Although mustard oil is a major source of impurity, changing consumer dietary habits and the use of mustard oil in Bangladeshi dishes are driving the demand for mustard oil. The market needs to be more cohesive and organized, owing to the strong presence of domestic players. As a result, new entrants must contend with fierce competition, as local players command a disproportionate market share in the revenue. Thus, these factors support the country's mustard oil market growth.
