Palm Oil Market - Forecast(2023 - 2028)

Palm Oil Market size is estimated to be $81.9 billion in 2019, growing at a CAGR of 6.0% during the forecast period 2020-2025. Palm Oil an edible vegetable oil that is derived from the mesocarp (reddish pulp) of the fruit of the oil palms. Two types of oil can be produced, crude palm oil comes from squeezing the fleshy fruit, and palm kernel oil which comes from crushing the kernel, or the stone in the middle of the fruit. Palm oil is used as a cooking oil and is also added to many ready-to-eat foods in daily grocery store. Growing consumer awareness regarding positive health benefits of palm oil, changing consumption habits of consumers towards nutritional diet and increasing demand for edible oils are driving the market growth in recent years. In addition, major market development of key players like Sime Darby and Asian Agri are other factors driving the growth of the market. Palm Oil Industry Analysis is based on product, distribution channel, end use and geography.


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Report Coverage

The report: “Palm Oil Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Palm Oil Market.

By Product: Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, and Fractionated Palm Oil
By Distribution Channel: Modern Trade, Franchise Outlets, Specialty Stores, and Online Stores
By End Use: Food & Beverage, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceuticals, and Industrial
By Geography: North America, Europe, Asia-Pacific, and Rest of the World


Key Takeaways
  • Asia-Pacific dominates the Palm Oil Market in the year 2019 owing to increasing disposable income, major share of the global palm oil production and nutritious foods in place of conventional meals, health concerns regarding trans-fat consumption and presence of key market players in the region. The Palm Oil Market scope for different regions will be provided in the final report.
  • Increasing consumer awareness regarding positive health benefits of palm oil, changing consumption habits of consumers towards nutritional diet and increasing demand for biofuels in upcoming years is estimated to drive the industry growth during the forecast period 2020-2025.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Palm Oil Market report.
  • Growing concerns regarding deforestation and plant diversity losses are set to hamper the market growth of the Palm Oil Industry.



Product - Segment Analysis

Crude Palm Oil held the largest share in the type segment of Palm Oil Market in 2019 and is estimated to grow at a CAGR of 5.4% during the forecast period 2020-2025. Commonly it is combined or mixed with coconut oil to make highly saturated vegetable fat, which is also used for cooking purposes. Main usage of CPO is for cooking purposes and is largely used in South-East Asia, West Africa and some parts of Brazil. This has resulted in a rapid surge in the demand of this segment in the recent years. It is estimated that RBD Palm Oil is poised to be the fastest growing segment and register the highest CAGR during the forecast period 2020-2025, owing to increasing uses as cooking oils in households and industrial frying fat of instant noodles, potato chips, and doughnuts.

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Demand for biofuels is increasing in response to worries about exhausting stock of fuels. Demand for biofuels made from food crops, such as palm and rapeseed oil has increased as a result in past few years. This is projected to drive the demand for Palm Oil, and consequently help in market growth during the forecast period 2020-2025.

Challenges – Palm Oil Market

Growing concerns regarding deforestation and plant diversity losses

There are great concerns regarding the current condition of forests and plant diversities. The government across prominent palm oil plantation nations i.e. Indonesia and Malaysia are focused on sustainable and organic production. In order to fulfil this, several restrictions may be there on the amount of cultivation and commercialization done. Thus, it is set to hamper the market growth during the forecast period 2020-2025.

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