Seattle, Jan. 23, 2019 (GLOBE NEWSWIRE) -- The global soy oil & palm oil market was valued at US$ 78,671.9 million in 2017, and is projected to exhibit a CAGR of 6.1% during the forecast period (2018–2026).

Key Trends and Analysis of the Soy Oil & Palm Oil market:

Health benefits of soy oil and palm oil such as development of body immune system, maintains steady blood pressure is fueling growth of the soy oil and palm oil market. For instance, according to the United States Department of Agriculture, in 2014-15, out of the total global consumption of vegetable oils, palm oil constituted the largest share of 33%, followed by soybean oil, rapeseed oil, sunflower oil, and others having a share of 26%, 15%, 8%, and 18%, respectively. The health benefits related to soy oil and palm oil and their increasing year-on-year demand is expected to drive growth of the global and Chinese soy and palm oil market during the forecast period.

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Furthermore, low cost and multiple uses of palm and soy oil are propelling growth of the soy oil and palm oil market.

Various key players are focused on increasing the consumer base and global footprint by adopting the strategy of mergers and acquisitions. For instance, Archer Daniels Midland Company acquired a 90% interest in Harvest Innovations, an industry leader in minimally processed, expeller-pressed soy proteins, oils, and gluten-free ingredients.

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Key Market Takeaways:

  • The global soy oil and palm oil market is expected to exhibit a CAGR of 6.1% during the forecast period
  • Asia Pacific held significant market share in the global soy oil and palm oil market in 2017, owing to the presence of largest producers of soy oil and palm oil in the region such as PT Astra Agro Lestari Tbk, Wilmar International Ltd, etc.
  • Some of the major players operating in the global soy oil and palm oil market include Cargill, Inc., Bunge Limited, DowDuPont Inc., Malaysian Palm Oil Council (MPOC), Carotino Sdn Bhd, Yee Lee Corporation Bhd, IOI Corporation Berhad, and Archer Daniels Midland Company.

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