Palm Oil Market Report, Size, Industry Share, Growth, Trends, Key Players Analysis, Forecast 2023-2028
According to the latest research report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on palm oil market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global palm oil market size reached US$ 53.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
Palm oil is a versatile edible oil derived particularly from the fruit of Elaeis guineensis oil palm trees. It is a crucial component in various products, ranging from food items to cosmetics and even biofuels. It is commonly found in two main types: crude palm oil, which is obtained from squeezing the fleshy fruit, and palm kernel oil, extracted from the seed inside the fruit. One of its primary advantages is its cost-effectiveness compared to other vegetable oils. It also possesses a high melting point and longer shelf life, making it ideal for various industrial applications. Moreover, it is rich in nutrients, incuding vitamin E, and is free from trans fats, when eaten in moderation, having some health benefits. Its multifaceted applications and beneficial properties make palm oil an essential commodity in both developed and emerging markets globally.
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Market Trends:
The global palm oil market is experiencing robust growth, spurred by the increasing demand for edible oils due to the rising global population and improved living standards. Additionally, the versatility of palm oil in non-food applications, such as in the production of soaps, detergents, and biofuels, contributes to its growing market. Along with this, technological advancements in farming and oil extraction methods have led to higher yields and more sustainable practices, thereby making palm oil an increasingly attractive option for farmers and industries.
In addition, emerging trends, such as the growing consciousness toward health and wellness, are also leading to the development of refined and organic palm oil products, further diversifying the market. Apart from this, the industry faces challenges related to environmental concerns, particularly deforestation and its impact on biodiversity. Thus, a blend of rising demand, versatile applications, and innovations in sustainable farming are driving the global palm oil market to new heights.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Archer-Daniels-Midland Company
- Asian Agri
- Boustead Holdings Berhad
- IJM Corporation Berhad
- IOI Corporation Berhad
- Kuala Lumpur Kepong Berhad
- Kulim Malaysia Berhad (Johor Corporation)
- PT Dharma Satya Nusantara Tbk
- PT PP LONDON SUMATRA INDONESIA TBK
- PT Sampoerna Agro Tbk
- Bakrie Sumatera Plantations tbk
- Sime Darby Plantation Berhad
- United Plantations Berhad
- Univanich Palm Oil Public Company Ltd.
- Wilmar International Ltd
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Palm Oil Market Segmentation:
Our report has categorized the market based on region and application.
Breakup by Application:
- Household Cooking
- Food & Beverages
- Oleo Chemicals
- Personal Care
- Animal Feed
- Bio-fuel
Regional Insights:
- India
- Indonesia
- China
- European Union
- Malaysia
- Others
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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