The global palm oil market is forecast to exhibit a CAGR of 3.3% in the coming years.
Palm oil is a versatile food product and is a widely adopted ingredient for industry applications. Crude palm oil is one of the rich source of Vitamin A and Vitamin E. The demand for palm oil for its health benefits has captured a huge market share in the past few years.
Palm oil is an edible vegetable oil extracted from the fruit of palm trees. These are available in two categories namely crude palm oil and palm kernel oil. The market share for palm oil is more than 45% and majorly used for all products. For instance, in the food and beverage industry, it serves as a raw ingredient for doughnut, chocolate, cakes etc. Similarly, it caters to the fashion industry with products such as deodorants, shampoo, and lipstick. Lately, it also finds extensive use as a biofuel in the animal feed industry. The production of palm oil is a highly versatile process and can be produced in small area of land. It exhibits more productiveness over soybean and coconut oil.
High demand for palm oil to boost the market growth
The palm oil market share is expected to grow positively in the coming years attributed to the high demand, favorable market conditions and high consumption across end-user segments. Use of trans-fatty acids in the production of cosmetics, pharmaceuticals and nutraceuticals is expected to drive market growth. Simultaneously, the market growth is also catalyzed due to extensive demand for biofuel and animal feed. The growing disposable income and rise in per capita expenditure over consumer food products is resulting in market growth in the coming years. Moreover, government regulations and subsidies have been instrumental in maintaining market growth.
Environmental concerns and low lying production methods
On contrary, high production prices and environmental concerns have been limiting the market growth. However, the adoption of sustainable production methods have been countering the market challenges.
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Cooking oil dominates the application segment
The palm oil market segmentation is comprised of product, end-use, application, type and origin. Application type consists of cooking oil, lubricants, bio-diesel and cosmetics. Cooking oil is the most popular segment owing to the associated health benefits. It has powerful antioxidant properties and essential nutrients that lead towards the growth of the segment.
Palm oil retains the largest share
Product category is the second leading segment attributing to the growing popularity of palm oil and accounting for 50% revenue share in the global market. Use of oleochemicals in the production of cleaning products is expected to result in significant market growth. Fractionated palm oil held a significant share in 2019 and continues to dominate in the growth of segment.
Bio-Fuel to account for a significant share
The end-use segment comprises bio-energy and bio-fuel wherein biofuel held a significant share. It is also expected to exhibit lucrative growth opportunity as animal husbandry is going on a large scale. Additionally, growing popularity and preference for biofuel is one of the major growth factors.
Geographically, the palm oil market segmentation include North America, Europe, Asia Pacific, Middle-East and Africa. Asia Pacific is the leading market based on high capacity of demand in the regional markets. For instance, Indonesia and Malaysia are primary markets for production and distribution of raw palm oil. Brand visibility and high presence of suppliers is likely to encourage the market growth. Palm oil is most commonly used as cooking oil in Asia owing to its features and low price.
North America is the second leading market owing to pursuit of untapped opportunities and growing potential in the oil market. For example, in January 2020, the North America Sustainable Palm Oil Network (NASPON) held a meeting to discuss the continuation of achieving 100% sustainable palm oil by end of 2020. The meeting agenda also focused on collaborating and optimizing various solutions and expanding the outreach for stakeholders.
Europe is a slowly growing market since it accounts for more than 50% imports in the global market. It was extensively used in the food and biofuel industries all across Europe. However, due to ecological and environmental concerns the usage has been restricted since the past few years. Malaysia is a large exporter in European market holding 60% market share. As compared to Indonesia, Malaysia has gained some traction and has surpassed Indonesia in the export category.
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The key players profiled in the palm oil market report include Cargill Inc, Sime Darby, IOI Corporation, Wilmar International Limited, Golden Agri Resources Limited, London Sumatra, Agrovet India, and Kuala Lumpur Kepong. In terms of industry participation, the players have adopted mergers, acquisitions and partnerships to strengthen their market position on a global scale. Apart, there have been major spending on the research and development to build a better product portfolio. Some of the key players hold a huge share in the market in terms of revenue and volume. Technological innovation has a major impact on the industrial growth of key players.
Table of Contents
Chapter 1 Palm Oil Market Overview
1.1 Palm Oil Definition
1.2 Global Palm Oil Market Size Status and Outlook (2017-2027)
1.3 Global Palm Oil Market Size Comparison by Region (2017-2027)
1.4 Global Palm Oil Market Size Comparison by Type (2017-2027)
1.5 Global Palm Oil Market Size Comparison by Application (2017-2027)
1.6 Global Palm Oil Market Size Comparison by Sales Channel (2017-2027)
1.7 Palm Oil Market Dynamics (COVID-19 Impacts)
1.7.1 Market Drivers/Restraints
1.7.2 COVID-19 Impacts on Current Market
1.7.3 Post-Strategies of COVID-19 Outbreak
Chapter 2 Palm Oil Market Segment Analysis by Player
2.1 Global Palm Oil Sales and Market Share by Player (2017-2020)
2.2 Global Palm Oil Revenue and Market Share by Player (2017-2020)
2.3 Global Palm Oil Average Price by Player (2017-2020)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player
Chapter 3 Palm Oil Market Segment Analysis by Type
3.1 Global Palm Oil Market by Type
3.1.1 Crude Palm Oil
3.1.2 Palm Olein
3.2 Global Palm Oil Sales and Market Share by Type (2017-2020)
3.3 Global Palm Oil Revenue and Market Share by Type (2017-2020)
3.4 Global Palm Oil Average Price by Type (2017-2020)
3.5 Leading Players of Palm Oil by Type in 2020
3.6 Conclusion of Segment by Type
Chapter 4 Palm Oil Market Segment Analysis by Application
4.1 Global Palm Oil Market by Application
4.1.1 Foods
4.1.2 Bio-Diesel
4.1.3 Surfactants
4.1.4 Cosmetics
4.1.5 Others
4.2 Global Palm Oil Sales and Market Share by Application (2017-2020)
4.3 Leading Consumers of Palm Oil by Application in 2020
4.4 Conclusion of Segment by Application
Chapter 5 Palm Oil Market Segment Analysis by Sales Channel
5.1 Global Palm Oil Market by Sales Channel
5.1.1 Direct Channel
5.1.2 Distribution Channel
5.2 Global Palm Oil Sales and Market Share by Sales Channel (2017-2020)
5.3 Leading Distributors/Dealers of Palm Oil by Sales Channel in 2020
5.4 Conclusion of Segment by Sales Channel
Chapter 6 Palm Oil Market Segment Analysis by Region
6.1 Global Palm Oil Market Size and CAGR by Region (2017-2027)
6.2 Global Palm Oil Sales and Market Share by Region (2017-2020)
6.3 Global Palm Oil Revenue and Market Share by Region (2017-2020)
6.4 North America
6.4.1 North America Market by Country
6.4.2 North America Palm Oil Market Share by Type
6.4.3 North America Palm Oil Market Share by Application
6.4.4 United States
6.4.5 Canada
6.4.6 Mexico
6.5 Europe
6.5.1 Europe Market by Country
6.5.2 Europe Palm Oil Market Share by Type
6.5.3 Europe Palm Oil Market Share by Application
6.5.4 Germany
6.5.5 UK
6.5.6 France
6.5.7 Italy
6.5.8 Russia
6.5.9 Spain
6.6 Asia-Pacific
6.6.1 Asia-Pacific Market by Country
6.6.2 Asia-Pacific Palm Oil Market Share by Type
6.6.3 Asia-Pacific Palm Oil Market Share by Application
6.6.4 China
6.6.5 Japan
6.6.6 Korea
6.6.7 India
6.6.8 Southeast Asia
6.6.9 Australia
6.7 South America
6.7.1 South America Market by Country
6.7.2 South America Palm Oil Market Share by Type
6.7.3 South America Palm Oil Market Share by Application
6.7.4 Brazil
6.7.5 Argentina
6.7.6 Colombia
6.7.7 Chile
6.8 Middle East & Africa
6.8.1 Middle East & Africa Market by Country
6.8.2 Middle East & Africa Palm Oil Market Share by Type
6.8.3 Middle East & Africa Palm Oil Market Share by Application
6.8.4 Egypt
6.8.5 Saudi Arabia
6.8.6 South Africa
6.8.7 Nigeria
6.9 Conclusion of Segment by Region
Chapter 7 Profile of Leading Palm Oil Players
7.1 Felda Global Ventures
7.1.1 Company Snapshot
7.1.2 Product/Business Offered
7.1.3 Business Performance (Sales, Price, Revenue, Gross Margin and Market Share)
7.1.4 Strategy and SWOT Analysis
7.2 IOI
7.3 Sime Darby Berhad
7.4 Musim Mas
7.5 Astra Agro Lestari
7.6 Bumitama Agri
7.7 Genting Group
7.8 KLK
7.9 WILMAR
7.10 RGE Pte
7.11 Indofood Agri Resources
7.12 Golden Agri Resources
7.13 First Resources
7.14 Sampoerna Agro
Chapter 8 Upstream and Downstream Analysis of Palm Oil
8.1 Industrial Chain of Palm Oil
8.2 Upstream of Palm Oil
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.2.4 Manufacturing Cost Structure
8.2.5 Manufacturing Process
8.3 Downstream of Palm Oil
8.3.1 Leading Distributors/Dealers of Palm Oil
8.3.2 Leading Consumers of Palm Oil
Chapter 9 Development Trend of Palm Oil (2021-2027)
9.1 Global Palm Oil Market Size (Sales and Revenue) Forecast (2021-2027)
9.2 Global Palm Oil Market Size and CAGR Forecast by Region (2021-2027)
9.3 Global Palm Oil Market Size and CAGR Forecast by Type (2021-2027)
9.4 Global Palm Oil Market Size and CAGR Forecast by Application (2021-2027)
9.5 Global Palm Oil Market Size Forecast by Sales Channel (2021-2027)
Chapter 10 Appendix
10.1 Research Methodology
10.2 Data Sources
10.3 Disclaimer
10.4 Analysts Certification
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