Palm Oil Market | Contrive Datum Insights

The Global Palm Oil Market Size Was Valued At USD 63.7 Billion In 2022 And Is Expected To Grow At A Compound Annual Growth Rate (CAGR) Of 5.1% In Revenue From 2023 To 2030.

Palm Oil Market Overview:

Palm oil is an edible vegetable oil made from the mesocarp of the oil palm fruit native to West Africa. It is the most productive oil crop on earth, yielding 5-10 times more per hectare than other major vegetable oil crops. It is cholesterol-free, easy to digest, rich in carotenoids and vitamin A, and has a variety of nutritional benefits. Palm oil refers to an edible vegetable oil naturally extracted from the mesocarp of the palm fruit. Palm oil is at present the most consumed edible oil in India, followed by soybean oil and mustard oil. However, India's demand for palm oil at present comes mainly from imports from Malaysia and Indonesia, with limited domestic production. The Indian palm oil market is at present driven by factors like decreasing costs, rising urbanization, increasing levels of disposable income, increasing demand from the food service industry, and increasing applications in non-food.

Palm Oil market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Palm Oil market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• May 2022, Stichting and Green. The Fund (“&Green”) announced a US$12 million investment in PT Hilton Duta Lestari (“HDL”) to build a crude palm oil mill in West Kalimantan, Indonesia, and create an inclusive palm oil supply base.

Major Segments Covered in the Global Palm Oil Market:

Market Key Players:
Felda Global Ventures, IOI, Sime Darby Berhad, Musim Mas, Astra Agro Lestari, Bumitama Agri, Genting Group, KLK, WILMAR, RGE Pte, Indofood Agri Resources, Golden Agri Resources, First Resources, Sampoerna Agro., And Others.

Palm Oil Market by Types:

• Crude Palm Oil
• Palm Olein
• Other

• Organic
• Conventional 
• Other

Palm Oil Market by Applications:

• Foods
• Bio-Diesel
• Surfactants
• Cosmetics
• Others

Palm Oil Market by Regions:

The APAC region will dominate the market with a revenue share of over 71% in 2021. This is attributed to rising consumption owing to the growing population in the APAC and high demand from end-use application industries for example food & beverage industry. Rapid population growth in India and China, changing demographic trends, and diversification in food applications are responsible for the high consumption of palm oil in APAC.

This product is a major source of income for countries such as Indonesia and Malaysia, which are large producers worldwide. The income from this business has helped palm oil-producing countries develop and develop. Small and medium-sized businesses in these countries depend entirely on the revenues from this oil for their livelihood. During the forecast period, the product market in the region is expected to grow rapidly owing to the rising demand from the growing population.

North America is expected to witness exponential growth in the near future, owing to the region's differentiated demographics, changing eating habits of the public, and increasing demand from the food industry to create a variety of delicacies. The North American market currently has a lot of untapped potentials, which is another reason for the rapid growth of products in the region.

Significant Market Dynamics:

SkyQuest sees two main drivers of this growth: rising populations in developing countries and increased demand for healthier food. Furthermore, the rise of electric vehicles will lead to increased demand for biofuels, including palm oil. Palm oil is nowadays the second most popular vegetable oil in the world after soybean oil and its popularity is expected to continue to grow. There are a few reasons for this: Palm oil is high in saturated fatty acids, making it a good choice for cooking and frying; it's multipurpose, used in a variety of products, and it's affordable.

Beyond that, there are those who worry about palm oil's impact on climate change. Increased palm oil production could lead to substantial greenhouse gas emissions if trees are felled faster than they can be replanted, according to SkyQuest research. However, alternatives to palm oil are still being developed, so there is still hope that this will not be a problem in the long run.

Despite some concerns about sustainability, the opportunities in the palm oil market outweigh the challenges. Overall, it expects production levels to slow in the future as producers shift to more sustainable production practices, like forest conservation or improved agronomic practices.

Report Scope of Global Palm Oil Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Any special requirements about this report, please let us know and we can provide a custom report.

Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.