A recent report published by Infinium Global Research on palm oil market provides an in-depth analysis of segments and sub-segments in global as well as regional palm oil market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional palm oil market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global palm oil market. According to the report, the global palm oil market is projected to grow at a healthy CAGR over the forecast period of 2018-2024.
Palm oil is an edible vegetable oil derived from palm fruit which is initially from Western Africa but can be grown wherever heat and rainfall are abundant. Once palm fruits are planted it can be yield for more than 3 decades. Palm oil is one of the most widely used vegetable oils. It is commonly used in margarine, instant noodles, biscuits, lipsticks, ice-cream, shampoos, detergents, bread, candles, chocolates, and cereals. The cultivation of palm oil is very profitable because mostly palm trees yield more oil per hectare than any other major oilseed crop. The oil can be classified into palm kernel oil, crude palm oil, and others. Crude palm oil is derived from the fruit of the oil palm tree.
Growing demand for vegetable oil as cooking or frying oil is the main factor driving the demand for palm oil market. Furthermore, palm oil is utilized in various fields such as cooking oil, cosmetics, bio-diesel, lubricants, and others that boost the market growth. Besides this, it is used as feedstock in the production of biodiesel. Furthermore, it is also used as an alternative to mineral oils for use in power stations which again drives the demand for palm oil market. In addition to this, growing use of palm oil in the manufacturing process of detergents & soaps, in the production of lubricants, candles, and greases is further propelling the growth of the market.
Rising application of palm oil as an alternative for trans-fat in processed foods is again driving the growth of the palm oil market. Technological creativeness attached with high foreign investments in the field of production of palm oil is projected to generate abundant opportunities for industry across the world. On the other side, higher production cost due to the adoption of sustainable production methods and strict environmental regulations governing production is hampering the growth of the palm oil market.
As per the geography, Asia Pacific region dominates the market and is witnessed to grow at a substantial growth over the upcoming years. The growth in this region is attributed due to growing consumption of palm oil in different industries. Furthermore, Indonesia and Malaysia are the main producers and exporters of palm fruit which are mainly contributing to the growth of the palm oil market in the Asia Pacific region.
The report on global palm oil market covers segments such as products and application. On the basis of products, the global palm oil market is categorized into palm kernel cake, crude palm oil, and palm kernel oil. On the basis of application, the global palm oil market is categorized into surfactants, edible oil, lubricants, cosmetics, and bio-diesel.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a healthy CAGR over the period of 2018-2024.
The report provides profiles of the companies in the global palm oil market such as Cargill Inc., Wilmar International Ltd., Golden Agri-Resources Ltd., PT Astra Agro Lestari Tbk, London Sumatra, Musim Mas Group, ADM, United Palm Oil Industry Public Company Limited, Sime Darby and Godrej Agrovet Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global palm oil market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of palm oil market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the palm oil market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the palm oil market to understand the present and future trends in this market and formulate their strategies accordingly. PT Astra Agro Lestari Tbk, London Sumatra, Musim Mas Group, ADM, United Palm Oil Industry Public Company Limited, Sime Darby and Godrej Agrovet Ltd.
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