The analyst has released a research report named “Palm Oil Market Factbook (2023 Edition)” which provides a complete analysis of the global Palm Oil industry in terms of market segmentation by Palm Oil type, Oil Nature, End-use, and region. The research also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the evolution of the market.
During the forecast period, 2023-2028, the global Palm Oil market is expected to expand at a CAGR of 6.7%. The demand for vegetable oil may rise as a result of the growing world population. Palm oil might be the solution that, when produced responsibly, has the least detrimental effect on the environment to meet the expanding need.
The Global Palm Oil Market is expected to generate USD 105 billion by the end of 2028, up from USD 67 billion in 2021. Through an immense growth in demand for consumer goods, the emerging middle-class nations like China and India significantly increased worldwide demand for palm oil. Some of the primary drivers boosting demand for palm oil globally are the expanding processed food business, the personal care and cleaning goods industries, the biofuel industry, and the market accessibility of palm oil as cooking oil due to its balanced saturated fats and free of trans fats.
The rising per capita earnings, increasing consumerism, and evolving lifestyle are driving up the demand for edible oils worldwide, particularly palm oil. The worldwide palm oil market was expected roughly 60 to 70 per cent of palm oil produced for use in human food and the remains consumed by numerous industries, including biodiesel, personal care, and pharmaceuticals.
The food and beverage sector processes about 60 per cent of palm oil. As a result of the expanding world population, demand has only continued to rise. In addition to being used in food products and for cooking, palm oil is also used in biodiesel, cosmetics, and personal care items like shampoo and soap. Perhaps the main factor in the value of palm oil is its adaptability, which accounts for the expansion of the palm oil booming industry.
The research is global in nature and covers a detailed analysis of the market in America (U.S., Brazil, Canada, Mexico, Rest of the Americas), Europe (Germany, U.K, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, Vietnam, Thailand, Rest of Asia-Pacific), and the Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
The transition to sustainable palm oil production, commerce, and consumption continues to receive support from Europe. It directly emphasises global sustainable palm oil production. End-users of palm oil are excellent drivers of change, able to raise sustainability by participating in their supply chains and creating SPO-promoting policies.
The fastest growing country, both in terms of production and consumption, is Indonesia due to increasing palm oil plantation areas, favourable government regulations and the rising number of edible oil manufacturers engaged in palm oil production activities. For the past few years, customers have embraced biodiesel as a reliable alternative to diesel. In terms of feedstock, palm oil is promoted as the conventional feedstock for the manufacturing of biodiesel and is thought to be a more cost-effective option than soybean. The end-user trend of the market is expected to alter over time as a result of numerous laws and requirements that have been implemented in various countries. The crucial role of palm oil in meeting the future demand for vegetable oils and how important sustainable production is for the people involved and the long-term health of our planet.
This study also provides the competitive landscape and profiles leading players in the Global Palm Oil Market including IOI Corporation Berhad, Sime Darby Plantation Berhad, Wilmar International Limited, Kuala Lumpur Kepong Berhad, Golden-Agri Resources, United Plantations Berhad, Kulim (Malaysia) Berhad, Univanich Palm Oil, and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the Global Palm Oil Market, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Scope of the Report:
• The report analyses the Palm Oil Market by Value (USD Billion).
• The report presents the analysis of the Palm Oil Market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
• The report analyses the Palm Oil Market by Palm Oil Type (Crude, Kernel).
• The report analyses the Palm Oil Market by Oil Nature (Organic, Conventional).
• The report analyses the Palm Oil Market by End-Use (Food & Beverages, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceutical, Others (industrial purposes such as surfactants, lubricants, etc.)
• The Global Palm Oil Market has been analysed by region and countries Americas (United States, Brazil, Mexico, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (Indonesia, India, China, Malaysia, Vietnam, Thailand) and the Middle-East.
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Palm Oil Type, Palm Oil Nature and By End-Use.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include IOI Corporation Berhad, Sime Darby Plantation Berhad, Wilmar International Limited, Kuala Lumpur Kepong Berhad, Golden-Agri Resources, United Plantations Berhad, Kulim (Malaysia) Berhad, Univanich Palm Oil.
Key Target Audience:
• Palm Oil Producers/ Vendors• Supply chain Distributors
• Consulting and Advisory Firms
• Government and Regulatory Authorities