Global Report: Palm Oil Market Size & Share Estimated To Touch the Value Of USD 92.84 Billion In 2021

According to the report, global palm oil market was valued at USD 65.73 billion in 2015, is expected to reach USD 92.84 billion in 2021 and is anticipated to grow at a CAGR of 7.2% between 2016 and 2021.

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New York, NY, July 30, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Palm Oil Market Analysis by Derivative (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), and for Edible Oil, Cosmetics, Bio-diesel, Lubricants, Surfactants and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021”.

According to the report, global palm oil market was valued at USD 65.73 billion in 2015, is expected to reach USD 92.84 billion in 2021 and is anticipated to grow at a CAGR of 7.2% between 2016 and 2021.

Browse through 13 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Palm Oil Market: By Application, Derivative, Prices, Industry Size, Share, Segment, Analysis and Forecast 2015-2021”.

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The latest research report by Zion Market Research (ZMR) states that the global market for the palm oil is representing an enormously aggressive business environment with the charisma of a number of dominating market players. United Palm Oil Industry Public Company Limited, Cargill Inc., Wilmar International Limited, Golden Agri Resources Limited, Sime Darby, PT Astra Agro Lestari Tbk, Godrej Agrovet Limited, London Sumatra, IOI Corp., Musim Mas Group, Kulim Bhd, ADM, and Alami Group are several dominating players in the global palm oil market.

Palm oil is an important cost-effective as well as multipurpose vegetable oil. It is the most popularly utilized vegetable oil worldwide. It is used in a range of products such as baked goods, sweets, cereals, margarine, cosmetics, and washing powders. Palm oil is also utilized as a first-generation biofuel. It is utilized to prevent brain disease, cancer, aging, the deficiency of vitamin A.

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The palm oil market report covers forecast and analysis for the market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on volume (million tons) and revenue (USD billion). The report includes drivers and restraints for the palm oil market with the impact they have on the demand within the forecast period. Furthermore, the study includes the study of new opportunities offered in the palm oil market on a global level.

In order to give the users of this report a comprehensive view on the palm oil market, we have included a detailed segmentation of palm oil. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model and value chain for the palm oil market has also been included in the study. The report covers a market attractiveness analysis for palm oil segments. Product segments and application segments are benchmarked based on their market size, growth rate and general attractiveness in the market.

This review is based on a report by Zion Market Research titled Palm Oil Market Analysis by Derivative (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), and for Edible Oil, Cosmetics, Bio-diesel, Lubricants, Surfactants, and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015–2021.”- Report at http://www.zionmarketresearch.com/report/palm-oil-market

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Palm oil is one of the major edible vegetable oils consumed globally. Palm oil is high in saturated fats and free of trans-fats. Palm oil and its derivatives are used in the manufacture of prepackaged food, cleaning products, hair care, cosmetics, and personal care products. Palm wax is utilized in the manufacturing of candles. It is also used as feed for livestock known as palm kernel cake (PKC) which is a byproduct of palm kernel oil. It considered as a medium grade protein feed used to fatten livestock’s.

Palm oil has a longer shelf life as it does not become easily rancid. It is also high in carotenoid which is a rich source of vitamin A.  Red palm oil has seventeen times more carotenoid than carrots. Indonesia and Malaysia produce approximately 85% of the world’s palm oil. Other potential producer countries include Thailand, Columbia, Nigeria, Papua New Guinea and Ecuador.

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The palm oil market has grown at a rapid pace over the past few years and is witness stupendous growth during the forecast period. The market for palm oil is driven by a number of factors, such as growing demand for biofuels, rising global population, and growing economy. Furthermore, growing consumer preference for convenient packaging processes and increasing demand from pharmaceutical industry is also expected to fuel the market. However, the development of market may hamper by adverse weather conditions and price fluctuation in the forecast period.

Global palm market has been segmented on the basis of derivative, application and region. On the basis of derivative, palm oil market is classified into crude palm oil, palm kernel oil, palm kernel cake, and others. Crude palm oil segment dominated the overall market in 2015 owing to growing applications such as edible oil, surfactants, biodiesel, cosmetics and lubricants. Palm kernel cakes are mainly used in livestock feed industry. On the basis of applications, market is characterized into edible oil, cosmetics, biodiesel, lubricants, surfactants and other applications. Edible oil is the leading application segment and acquired the significant share in overall palm oil market in 2015.

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Numerous factors including the developing financial conditions, improving the standard of living, and change in consumption behaviors in the developing countries has boosted the global palm oil market. The rising vegetable oil requirement as a raw material in the production of biodiesel is propelling the global palm oil market. Additionally, strict policies on trans-fat foodstuffs in Europe and the U.S. have resulted in the fast change in utilization of soybeans oil to the palm oil. This shift has helped in propelling the global palm oil market in these regions.

Moreover, the low cost of palm oil compared to the other vegetable oils has boosted the palm oil market growth in the estimated period. Furthermore, rising market penetration by the majority of oil producing countries such as Malaysia, Indonesia, and Thailand might hint the novel prospect in the palm oil market in the upcoming period.

Based on the application, palm oil market is bifurcated into edible oil, biodiesel, cosmetics, surfactants, lubricants, and other applications. The segment for edible oil in the global palm oil market is estimated to see a vigorous growth for the forecasted period due to health issues related to the trans-fat consumption.

In 2015, the palm oil market for the Asia Pacific had shown greatest domination because of the overall increased palm oil requirement and it was accounted for the major share of the global palm oil market. The region witnessed largely increased production in the recent years driven by the rise in the cumulative land area of palm oil plantation, increasing palm oil yield, and towering investments in activities related to the research and development. At present, Indonesia and Malaysia palm oil market are showing a promising domination in the global palm oil production scenario. These countries are also said to be the key global exporters that cover a huge part of the global palm oil market business.

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 This report segments the global palm oil market as follows:

By Derivative

  • Crude Palm Oil
  • Palm Kernel Oil
  • Palm Kernel Cake
  • Others

By Application

  • Edible Oil
  • Cosmetics
  • Bio-diesel
  • Lubricants
  • Surfactants
  • Others

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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