Palm Oil Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, Fractionated Palm Oil), By Application (Food & Beverage, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceuticals, Others), By Nature (Organic, Conventional), By Region, By Competition, 2018-2028

Industry : Consumer Goods and Retail
Pages : NA
Published Date : NA

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Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 65.3 Billion
CAGR (2023-2028)	5.1%
Fastest Growing Segment	Organic
Largest Market	Asia Pacific

Market Overview

Global Palm Oil Market was valued at USD 65.3 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.1% through 2028. The market is being driven by an industry-wide demand that is increasing tremendously in the food, beverage, biofuel, energy, personal care, and cosmetics sectors. Due to the region's easy access to raw resources, Asia Pacific is home to several major factories. Due to the presence of numerous large- and small-scale competitors who compete for market share using a variety of techniques including high production, superior distribution networks, higher product quality, and aggressive pricing, the market is both fiercely competitive and broad in scope.

Indonesia is the world's top producer and exporter of palm oil. The nation exports the good internationally. The government additionally aids palm oil plant growers. For a lot of the small- and medium-sized farmers in the area, it is a significant source of income. The sector plays a significant role in the growth and improvement of the local farmers. The product has also seen an increase in demand from the biofuel sector. It is used to make biofuel, which is then utilized as a more environmentally friendly substitute for crude oil in numerous applications, including motor oil. The biofuel industry is a young one with few current applications. Although the industry is expected to attain development as many players are involved in research and development of the industry. As the industry will gain ground the demand for palm oil from the industry is expected to increase and drive the product market.

The palm oil industry has been criticized for its environmental and social impacts. Palm oil production has been linked to deforestation, loss of biodiversity, and habitat destruction. The industry has also been criticized for its use of child labor and other labor abuses. In recent years, there has been a growing movement towards sustainable palm oil production. A number of voluntary sustainability standards have been developed, such as the Roundtable on Sustainable Palm Oil (RSPO). These standards aim to reduce the environmental and social impacts of palm oil production.

Key Market Drivers

Versatility and Wide Applications

One of the primary drivers of the palm oil market is its remarkable versatility and extensive range of applications. Palm oil is a highly functional vegetable oil, owing to its unique chemical composition. It is semi-solid at room temperature, which makes it suitable for various culinary and industrial purposes. This characteristic sets palm oil apart from many other vegetable oils, such as soybean or sunflower oil, which are typically liquid at room temperature.

Palm oil is a staple in the food industry, serving as a key ingredient in countless products. It is used in cooking oils, margarines, and spreads due to its excellent frying properties and stability. Additionally, palm oil is commonly found in baked goods, confectionery, and processed foods as it imparts a desirable texture and mouthfeel. The versatility of palm oil makes it a crucial component in the formulation of various food products, from cookies to instant noodles.

Palm oil is widely utilized in cosmetics and personal care products due to its emollient properties. It is an ingredient in products such as soaps, shampoos, moisturizers, and lipsticks. The stable composition of palm oil ensures that these products maintain their desired texture and appearance over time. The demand for sustainable and renewable energy sources has driven the use of palm oil in biofuels, particularly biodiesel production. The high energy content of palm oil and its compatibility with existing diesel engines make it a viable alternative to fossil fuels. Furthermore, palm oil is employed in industrial applications, including lubricants, candles, and detergents, due to its functional properties.

Cost-Efficiency and High Yield

The palm oil market benefits from the cost-efficiency and high yield associated with oil palm cultivation. Oil palm trees have a distinct advantage over other oilseed crops in terms of oil production per unit of land. A mature oil palm tree can produce fruit bunches year-round, ensuring a consistent oil supply. This high yield per hectare of oil palm plantation has made palm oil one of the most cost-effective vegetable oils to produce. Oil palm trees have an impressive oil extraction rate, with palm oil accounting for a significant portion of the fruit's weight. This high oil content minimizes waste and maximizes the efficiency of the oil extraction process, contributing to cost-effectiveness. Oil palm trees thrive in tropical regions, particularly in Southeast Asia, Africa, and South America. These regions offer the ideal climate for oil palm cultivation, with consistent temperatures and abundant rainfall. The suitability of these regions for oil palm production further enhances cost-efficiency. Oil palm trees have relatively short harvesting cycles compared to some other oilseed crops, such as soybeans. This means that palm oil production can be scaled up more rapidly to meet growing demand.

Expanding Global Population and Urbanization

The global population's growth and increasing urbanization have contributed significantly to the rising demand for palm oil. As the world's population continues to expand, there is a growing need for food and consumer goods, many of which contain palm oil as a key ingredient. With more people to feed, the demand for edible oils has surged. Palm oil's affordability and versatility have positioned it as a preferred choice for meeting this demand, both in cooking oils and processed foods. Urbanization trends have led to changes in dietary habits. As more people move to urban areas, they often adopt more convenience-oriented diets, which rely on processed and packaged foods, many of which contain palm oil. This shift has driven the consumption of palm oil in urban centers globally. The growth of the middle class in emerging economies has increased the consumption of consumer products that use palm oil. Items like cosmetics, personal care products, and household goods are in greater demand, further boosting the palm oil market.

Biofuels and Renewable Energy

The pursuit of renewable energy sources and efforts to reduce greenhouse gas emissions have stimulated the use of palm oil in the biofuels sector, particularly in the production of biodiesel. Palm oil is a feedstock for biodiesel production due to its high energy content and compatibility with existing diesel engines. As countries seek to reduce their reliance on fossil fuels and reduce carbon emissions, palm oil-based biodiesel has gained traction as a sustainable alternative. Many governments worldwide have implemented policies and incentives to promote the use of biofuels, including palm oil-based biodiesel. These policies often include mandates for blending biofuels with conventional diesel, creating a stable market for palm oil in the biofuels sector. The palm oil industry has made efforts to improve the sustainability of palm oil production for biofuels, addressing concerns related to deforestation and habitat destruction. Initiatives like the Roundtable on Sustainable Palm Oil (RSPO) have set sustainability standards for the industry.

Growing Demand in Emerging Markets

Emerging markets, particularly in Asia, have become major drivers of the palm oil market. As these economies grow and consumers' purchasing power increases, the demand for palm oil in both food and non-food applications has expanded significantly. The Asia-Pacific region, with countries like India and China, accounts for a substantial portion of global palm oil consumption. Rising incomes in these countries have led to increased consumption of processed foods and consumer products containing palm oil. As urbanization and Western dietary trends become more prevalent in emerging markets, the demand for convenience foods, packaged snacks, and personal care products has risen, all of which often contain palm oil. Rapid industrialization in emerging economies has also driven demand for palm oil in industrial applications such as lubricants, plastics, and oleochemicals.

Government Policies and Regulations

Government policies and regulations, both domestically and internationally, play a significant role in shaping the palm oil market. These policies can influence everything from production practices to trade dynamics. Governments and industry stakeholders have introduced sustainable sourcing initiatives, such as the RSPO, to promote responsible palm oil production. These initiatives encourage adherence to environmental and social standards. Tariffs, import restrictions, and trade agreements can impact the flow of palm oil in the global market. Some countries implement trade barriers or restrictions to protect domestic industries, affecting palm oil trade dynamics. Regulatory bodies often set labeling and certification requirements for palm oil-containing products. Consumers are increasingly concerned about sustainable sourcing, and clear labeling allows them to make informed choices.

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Key Market Challenges

Deforestation and Habitat Loss

One of the most pressing challenges associated with the palm oil industry is deforestation and habitat loss. The expansion of oil palm plantations often involves clearing vast areas of tropical rainforests and other ecologically sensitive ecosystems. This practice has profound environmental consequences. Deforestation leads to the loss of biodiversity as it destroys the habitats of numerous plant and animal species. Many of these species are unique and endemic to tropical rainforests. The destruction of these ecosystems also contributes to climate change through the release of stored carbon and disruption of local weather patterns. Deforestation leads to the loss of biodiversity as it destroys the habitats of numerous plant and animal species. Many of these species are unique and endemic to tropical rainforests. The destruction of these ecosystems also contributes to climate change through the release of stored carbon and disruption of local weather patterns. The global community has expressed concern over deforestation associated with palm oil production. Environmental organizations and consumers have called for sustainable and responsible palm oil practices to mitigate these environmental and social impacts.

Sustainability and Certification

Achieving sustainability in palm oil production has been a significant challenge for the industry. While there are sustainability certification schemes like the Roundtable on Sustainable Palm Oil (RSPO), implementation and enforcement have faced criticism. The RSPO and other certification bodies aim to promote sustainable practices in the palm oil industry. However, compliance with these standards varies, and not all plantations adhere to sustainable practices. There have been concerns about "greenwashing," where companies claim to be sustainable without genuinely adhering to responsible practices. This erodes trust in certification schemes and hinders progress toward sustainability goals. The complexity of palm oil supply chains makes it challenging to trace the origins of palm oil products accurately. Transparency and traceability are essential for ensuring that sustainable palm oil reaches the market.

Key Market Trends

Sustainable Palm Oil Production

One of the most significant trends in the palm oil market is the growing emphasis on sustainable palm oil production. This trend has gained momentum in response to concerns about deforestation, habitat loss, and environmental degradation associated with palm oil cultivation. Organizations like the Roundtable on Sustainable Palm Oil (RSPO) have established sustainability standards and certification programs for palm oil production. These initiatives aim to promote responsible land use, reduce deforestation, and protect biodiversity. There is a rising demand for certified sustainable palm oil (CSPO) among consumers and businesses committed to responsible sourcing. Companies are increasingly pledging to use CSPO in their products, driving the adoption of sustainable practices in the industry. Many palm oil companies have adopted zero deforestation commitments, pledging not to clear primary forests or high-conservation-value areas for plantation expansion. These commitments are crucial for preserving natural habitats.

Alternative Vegetable Oils

The palm oil market is witnessing increased competition from alternative vegetable oils that are considered more sustainable or healthier options. These alternatives are gaining popularity among consumers and food manufacturers. High oleic oils, such as high oleic sunflower oil and high oleic soybean oil, have gained attention for their improved stability and health benefits. They are considered healthier alternatives for frying and cooking. Avocado oil is becoming a preferred choice for health-conscious consumers due to its monounsaturated fats and rich flavor. It is commonly used in salad dressings, cooking, and baking. Blends of olive oil and other vegetable oils are emerging as a healthier and more sustainable option. These blends offer a balance between the unique flavors of olive oil and the versatility of other oils.

Technological Advancements in Palm Oil Production

Advancements in technology are playing a significant role in improving the efficiency and sustainability of palm oil production. Precision agriculture technologies, including remote sensing and GPS-guided machinery, are being employed to optimize planting, harvesting, and fertilization practices. This helps reduce resource use and improve yields. Research into innovative plant breeding techniques is ongoing to develop oil palm varieties that are more resistant to diseases and pests, require less land, and produce higher oil yields. Palm oil mills are adopting more sustainable processing practices, such as zero waste technologies, to minimize environmental impacts and improve efficiency.

Shifting Regional Dynamics

The regional dynamics of palm oil production and consumption are evolving, with new players and markets emerging. Africa is becoming a significant player in the palm oil market, with countries like Nigeria and Ghana increasing their production capacities. African palm oil is gaining recognition for its potential to meet local and international demand. In Asian markets, where palm oil consumption has traditionally been high, changing consumer preferences for healthier oils and sustainable options are influencing the choice of vegetable oils. The palm oil industry is exploring new markets and applications, including biofuels, oleochemicals, and non-food industrial uses, to diversify its revenue streams and reduce dependency on traditional markets.

Segmental Insights

Nature Insights

Based on Nature, Conventional segment dominated the market for palm oil with a revenue share in 2022. This can be attributed to the segment's affordable pricing and simple accessibility. Small and medium sized farmers depend heavily on the income from conventional oil palm fields because they can use synthetic chemicals to boost production. In low-income nations with large people, the traditional nature segment is more common.

The organic nature category, which competes with the conventional nature segment, has a very modest market share due to production challenges that limit product availability. It is financially unfeasible and challenging for the producers to produce in big quantities due to the strict production standards and expensive, necessary materials, such as specialised soil maintenance solutions. Although it is projected that awareness of the advantages of organic products will expand quickly.

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Regional Insights

Asia Pacific region dominated the market with largest revenue share in 2022. This is attributed to the growing consumption by the rising population of the region as well as high demand from the end use applications industries, such as food & beverage industries. Rapid increase in population, changing demographic trends, and diverse food application in India and China is accountable for high consumption of palm oil in the region. This product is a major source of income for countries like Indonesia and Malaysia, which are large producers globally. Income from this business had helped the countries producing palm oil to develop and advance. Small and medium players in these countries are solely dependent on revenue from this oil for their livelihood. Over the forecast period the product market in the region of expected to grow rapidly owing to increased demand from a growing population.

Recent Developments

In 2023 - Wilmar International announced a partnership with BanQu for the purpose of advancing a sustainable palm oil value chain and improving the livelihood of smallholder farmers. As part of the palm oil traceability project, Wilmar will leverage BanQu’s platform for eliminating supply chain blind spots and monitor sustainability progress.
In 2023 - Kuala Lumpur Kepong Berhad, via its subsidiary KLK OLEO, completed the acquisition of a controlling stake in Temix Oleo SpA. Temix Oleo is a Milan, Italy-based oleochemical company that specializes in the production of esters based on renewable feed stocks, and caters to coating, lubricant, ceramic, and plastic industries.

Key Market Players

ADM
Wilmar International Ltd.
Sime Darby Plantation Berhad
IOI Corporation Berhad
Kuala Lumpur Kepong Berhad
United Plantations Berhad
Kulim (Malaysia) Berhad
IJM Corporation Berhad
PT Sampoerna Agro, Tbk
Univanich Palm Oil Public Company Ltd.

By Type	By Application	By Nature	By Region
Crude Palm Oil RBD Palm Oil Palm Kernel Oil Fractionated Palm Oil	Food & Beverage Personal Care & Cosmetics Biofuel & Energy Pharmaceuticals Others	Organic Conventional	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Palm Oil Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Palm Oil Market, By Type:

o Crude Palm Oil

o RBD Palm Oil

o Palm Kernel Oil

o Fractionated Palm Oil

Palm Oil Market, By Application:

o Food & Beverage

o Personal Care &

o Cosmetics

o Biofuel & Energy

o Pharmaceuticals

o Others

Palm Oil Market, By Nature:

o Organic

o Conventional

Palm Oil Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Turkey

§ Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Palm Oil Market.

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Company Information

Detailed analysis and profiling of additional market players (up to five).

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Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer

4.1. Brand Awareness

4.2. Factors Influencing Purchase Decisions

4.3. Challenges Faced

5. Global Palm Oil Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, Fractionated Palm Oil)

5.2.2. By Application Market Share Analysis (Food & Beverage, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceuticals, Others)

5.2.3. By Nature Market Share Analysis (Organic, Conventional)

5.2.4. By Regional Market Share Analysis

5.2.4.1. North America Market Share Analysis

5.2.4.2. South America Market Share Analysis

5.2.4.3. Middle East & Africa Market Share Analysis

5.2.4.4. Europe Market Share Analysis

5.2.4.5. Asia-Pacific Market Share Analysis

5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)

5.3. Global Palm Oil Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Application Market Mapping & Opportunity Assessment

5.3.3. By Nature Market Mapping & Opportunity Assessment

5.3.4. By Region Channel Market Mapping & Opportunity Assessment

6. North America Palm Oil Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Application Market Share Analysis

6.2.3. By Nature Market Share Analysis

6.3. North America: Country Analysis

6.3.1. United States Palm Oil Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type Market Share Analysis

6.3.1.2.2. By Application Market Share Analysis

6.3.1.2.3. By Nature Market Share Analysis

6.3.2. Canada Palm Oil Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type Market Share Analysis

6.3.2.2.2. By Application Market Share Analysis

6.3.2.2.3. By Nature Market Share Analysis

6.3.3. Mexico Palm Oil Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type Market Share Analysis

6.3.3.2.2. By Application Market Share Analysis

6.3.3.2.3. By Nature Market Share Analysis

7. Europe Palm Oil Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Application Market Share Analysis

7.2.3. By Nature Market Share Analysis

7.3. Europe: Country Analysis

7.3.1. Germany Palm Oil Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type Market Share Analysis

7.3.1.2.2. By Application Market Share Analysis

7.3.1.2.3. By Nature Market Share Analysis

7.3.2. United Kingdom Palm Oil Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type Market Share Analysis

7.3.2.2.2. By Application Market Share Analysis

7.3.2.2.3. By Nature Market Share Analysis

7.3.3. Italy Palm Oil Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecasty

7.3.3.2.1. By Type Market Share Analysis

7.3.3.2.2. By Application Market Share Analysis

7.3.3.2.3. By Nature Market Share Analysis

7.3.4. France Palm Oil Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type Market Share Analysis

7.3.4.2.2. By Application Market Share Analysis

7.3.4.2.3. By Nature Market Share Analysis

7.3.5. Spain Palm Oil Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type Market Share Analysis

7.3.5.2.2. By Application Market Share Analysis

7.3.5.2.3. By Nature Market Share Analysis

8. Asia-Pacific Palm Oil Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Application Market Share Analysis

8.2.3. By Nature Market Share Analysis

8.3. Asia-Pacific: Country Analysis

8.3.1. China Palm Oil Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type Market Share Analysis

8.3.1.2.2. By Application Market Share Analysis

8.3.1.2.3. By Nature Market Share Analysis

8.3.2. India Palm Oil Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type Market Share Analysis

8.3.2.2.2. By Application Market Share Analysis

8.3.2.2.3. By Nature Market Share Analysis

8.3.3. Japan Palm Oil Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type Market Share Analysis

8.3.3.2.2. By Application Market Share Analysis

8.3.3.2.3. By Nature Market Share Analysis

8.3.4. South Korea Palm Oil Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type Market Share Analysis

8.3.4.2.2. By Application Market Share Analysis

8.3.4.2.3. By Nature Market Share Analysis

8.3.5. Australia Palm Oil Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type Market Share Analysis

8.3.5.2.2. By Application Market Share Analysis

8.3.5.2.3. By Nature Market Share Analysis

9. South America Palm Oil Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Application Market Share Analysis

9.2.3. By Nature Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Palm Oil Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type Market Share Analysis

9.3.1.2.2. By Application Market Share Analysis

9.3.1.2.3. By Nature Market Share Analysis

9.3.2. Argentina Palm Oil Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type Market Share Analysis

9.3.2.2.2. By Application Market Share Analysis

9.3.2.2.3. By Nature Market Share Analysis

9.3.3. Colombia Palm Oil Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type Market Share Analysis

9.3.3.2.2. By Application Market Share Analysis

9.3.3.2.3. By Nature Market Share Analysis

10. Middle East and Africa Palm Oil Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Application Market Share Analysis

10.2.3. By Nature Market Share Analysis

10.3. MEA: Country Analysis

10.3.1. South Africa Palm Oil Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type Market Share Analysis

10.3.1.2.2. By Application Market Share Analysis

10.3.1.2.3. By Nature Market Share Analysis

10.3.2. Saudi Arabia Palm Oil Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type Market Share Analysis

10.3.2.2.2. By Application Market Share Analysis

10.3.2.2.3. By Nature Market Share Analysis

10.3.3. UAE Palm Oil Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type Market Share Analysis

10.3.3.2.2. By Application Market Share Analysis

10.3.3.2.3. By Nature Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. SWOT Analysis

13.1. Strength

13.2. Weakness

13.3. Opportunity

13.4. Threat

14. Competitive Landscape

14.1. Company Profiles

14.1.1. ADM

14.1.1.1. Company Details

14.1.1.2. Products & Services

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Key Market Focus & Geographical Presence

14.1.1.5. Recent Developments

14.1.1.6. Key Management Personnel

14.1.2. Wilmar International Ltd.

14.1.2.1. Company Details

14.1.2.2. Products & Services

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Key Market Focus & Geographical Presence

14.1.2.5. Recent Developments

14.1.2.6. Key Management Personnel

14.1.3. Sime Darby Plantation Berhad

14.1.3.1. Company Details

14.1.3.2. Products & Services

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Key Market Focus & Geographical Presence

14.1.3.5. Recent Developments

14.1.3.6. Key Management Personnel

14.1.4. IOI Corporation Berhad

14.1.4.1. Company Details

14.1.4.2. Products & Services

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Key Market Focus & Geographical Presence

14.1.4.5. Recent Developments

14.1.4.6. Key Management Personnel

14.1.5. Kuala Lumpur Kepong Berhad

14.1.5.1. Company Details

14.1.5.2. Products & Services

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Key Market Focus & Geographical Presence

14.1.5.5. Recent Developments

14.1.5.6. Key Management Personnel

14.1.6. United Plantations Berhad

14.1.6.1. Company Details

14.1.6.2. Products & Services

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Key Market Focus & Geographical Presence

14.1.6.5. Recent Developments

14.1.6.6. Key Management Personnel

14.1.7. Kulim (Malaysia) Berhad

14.1.7.1. Company Details

14.1.7.2. Products & Services

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Key Market Focus & Geographical Presence

14.1.7.5. Recent Developments

14.1.7.6. Key Management Personnel

14.1.8. IJM Corporation Berhad

14.1.8.1. Company Details

14.1.8.2. Products & Services

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Key Market Focus & Geographical Presence

14.1.8.5. Recent Developments

14.1.8.6. Key Management Personnel

14.1.9. PT Sampoerna Agro, Tbk

14.1.9.1. Company Details

14.1.9.2. Products & Services

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Key Market Focus & Geographical Presence

14.1.9.5. Recent Developments

14.1.9.6. Key Management Personnel

14.1.10. Univanich Palm Oil Public Company Ltd.

14.1.10.1. Company Details

14.1.10.2. Products & Services

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Key Market Focus & Geographical Presence

14.1.10.5. Recent Developments

14.1.10.6. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.2. Target Type

15.3. Target Distribution Channel

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Palm Oil Market in 2022?

The market size of the Global Palm Oil Market was estimated to be USD 65.3 billion in 2022.

Which was the dominant segment by form in the Global Palm Oil Market in 2022?

The fractionated palm oil segment demonstrated significant dominance in 2022. This is attributable to the ease of availability of the product and economically feasible prices. It is very popular in low-income countries as it is abundantly available as well as affordable for the masses.

Which is the dominant region in the Global Palm Oil Market?

Asia Pacific dominated the market with a revenue share in 2022. This is attributed to the growing consumption by the rising population of the region as well as high demand from the end use applications industries, such as food & beverage industries.

What are the major drivers for the Global Palm Oil Market?

Major factors that are driving the palm oil market growth include increasing demand for palm oil derivatives and oleochemicals from different end-use industries.

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Parvati Sharma

Account Manager BD

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Press Release

Palm Oil Market to Grow with a CAGR of 5.1% Globally through to 2028

Nov, 2023

Rise in the demand from the food, beverage sectors, increasing demand for palm oil derivatives and oleochemicals from different end-use industries are factors driving the global palm oil market in th