Palm Oil Market Projected To Reach About USD 92.84 Billion By 2021

30-Dec-2019 | Zion Market Research

The new research report by Zion Market Research claims that the global palm oil market is representing extremely strong business conditions with the magnetism of numerous dominating market players. Some of the leading players in the global palm oil market are Wilmar International Limited, Alami Group, Godrej Agrovet Limited, Sime Darby, Cargill Inc., London Sumatra, PT Astra Agro Lestari Tbk, Golden Agri Resources Limited, IOI Corp., United Palm Oil Industry Public Company Limited, Kulim Bhd, Musim Mas Group, and ADM.

Palm oil is a multipurpose vegetable oil and a very cost-effective alternative. It is the most widely used vegetable oil globally. It is utilized in a range of products like sweets, cereals, baked goods, cosmetics, washing powders, and margarine. Palm oil is also used as a first-generation biofuel. It also has medicinal benefits and is utilized to prevent aging, brain disease, cancer, the deficiency of vitamin A.

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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 https://www.zionmarketresearch.com/report/palm-oil-market

Palm oil is recommended for treating high blood pressure, cyanide poisoning, malaria, and high cholesterol. The mainstream palm oil manufacturers are from Asia, Africa, and South America. These regions have favorable atmospheric conditions like warm temperatures, appropriate sunlight, and plenty of rain needed for the strong growth of plants resulting in maximized crop production. Several factors counting improving lifestyle, developing financial conditions, and change in intake behaviors in the developing nations have strengthened the global palm oil market. The increasing vegetable oil requirement as a raw material in the biodiesel production is driving the global palm oil market. In addition, strict regulations on trans-fat foodstuffs across the U.S. and Europe have resulted in the major change in the use of soybeans oil to the palm oil. This alteration has helped in boosting the global palm oil market across the mentioned regions.

Furthermore, the low cost of palm oil in comparison to the other vegetable oils has strengthened the palm oil market augmentation in the projected period. The increasing market penetration by the top oil-producing nations such as Indonesia, Malaysia, and Thailand might suggest a novel outlook in the palm oil market in the future.

On the basis of the application, the palm oil market is categorized into biodiesel, lubricants, edible oil, cosmetics, surfactants, and other applications. The edible oil segment in the global palm oil market is projected to report a robust growth for the estimated period owing to health issues concerning the trans-fat intake.

During 2015, the palm oil market in the Asia-Pacific region showed maximum domination due to the overall surged palm oil requirement and it was summed up for the main share of the global palm oil market. The region reported largely augmented production in the last few years driven by the surge in the increasing land area of palm oil cultivation, higher palm oil yield, and elevated investments in activities regarding the research and development. Currently, Malaysia and Indonesia palm oil markets are showing potential domination in the global palm oil output scenario. These nations are also stated to be the leading global exporters that cover a major part of the global palm oil market.

The report segments the global palm oil market as:

Global Palm Oil Market: Derivative Segment Analysis

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

Global Palm Oil Market: Application Segment Analysis

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

Global Palm Oil Market: Regional Analysis

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

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