The report “Global Palm Oil Market, By Product (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), By Application (Edible Oil, Cosmetics, Bio-Diesel, Lubricants, Surfactants, and Others), and Region – Global Forecast to 2030″ The Global Palm Oil Market accounted for US$ 41.8 billion in 2020 and is estimated to be US$ 75.25 billion by 2030 and is anticipated to register a CAGR of 6.1%.The global palm oil market is expected to register significant growth over the forecast period. This is attributed to increasing demand for palm oil having low trans-fat across the globe. In addition, increasing adoption of palm oil in bakery products such as margarine, biscuits, breads, in instant noodles, ice-cream, and cosmetics is major factor driving growth of the global palm oil market. Moreover, rising use of palm oil in the commercial food industry, owing to its lower cost and high oxidative stability of the refined product are expected to support growth of the global palm oil market in the near future.
Increasing foreign investments in the field of sustainable way of production and technological advancements in manufacturing units are expected to create potential lucrative opportunities for players operating in the global palm oil market.
Key Highlights:
- In June 2017, for instance, Cargill, Incorporated had collaboration with Solidaridad and C.I. Biocosta for palm oil production.
Key Market Insights from the report:
The Global Palm Oil Market accounted for US$ 41.8 billion in 2020 and is estimated to be US$ 75.25 billion by 2030 and is anticipated to register a CAGR of 6.1%. The market report has been segmented on the basis of product, application, and region.
- By product, the crude palm oil segment is accounted for major revenue share in 20 18, owing to wide consumption of raw red oil for use in various products across the globe and is likely to remain a dominant segment over the forecast period.
- By application, the edible oil segment is accounted for major revenue share in 2018 due to its low price as compared to other oil seeds.
- By region, Asia Pacific palm oil market accounted for major revenue share of the global palm oil market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established palm oils brands in the countries in the region. Increasing demand for palm oil in food and beverages industries, particularly in countries such as India and China are some factors expected to support growth of the Asia Pacific market over the forecast period. The market in Europe is expected to account for second-highest revenue share in 2018.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Palm Oil Market”, By Product (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), By Application (Edible Oil, Cosmetics, Bio-Diesel, Lubricants, Surfactants, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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https://www.prophecymarketinsights.com/market_insight/Global-Palm-Oil-Market-By-497
The prominent player operating in the global palm oil market includes Cargill, Incorporated, United Palm Oil Industry Public Company Limited, Wilmar International Ltd., Golden Agri-Resources Ltd., ALAMI VEGETABLE OIL PRODUCTS SDN. BHD., Musim Mas Holdings Pte. Ltd, Archer Daniels Midland Company, United Palm Oil Industry Public Company Limited, Boustead Plantations Berhad, and New Britain Palm Oil Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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