Sustainable Palm Oil Market Size, Trends and Forecast 2032

Sustainable Palm Oil Market Insights

Zion Market Research has published a report on the global Sustainable Palm Oil Market, estimating its value at USD 1098.2 Million in 2023, with projections indicating that it will reach USD 1911.64 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.7% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Sustainable Palm Oil Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Sustainable Palm Oil Market: Overview

The Sustainable Palm Oil is a very versatile, useful and cheap palm oil and widely used vegetable oil in the world. It is found in everything from snacks to household cleaners. It brings trade, money, and jobs to producing economies and employs millions of smallholder farmers.

The market is primarily driven by the low cholesterol content contained in sustainable palm oil. As palm oil companies have been blamed widely for deforestation and human rights, these companies have been investing heavily in technology to boost their credentials in sustainability. Nowadays, technology has been quite influential for this market where drones are used for palm counting, detection of diseases and monitoring plantation’s health. As a result, companies get accurate information enabling them to adjust the inputs required for the maximum yield.

COVID-19 Impact Analysis

The Covid-19 pandemic had disrupted the entire supply chain and so there has been negative impact of this pandemic on COVID-19. The demand has dropped and production is also hampered in Malaysia and Indonesia, which are the top producers of vegetable oils. In Indonesia the exports have also drastically fallen and work at the plantations has also been affected owing to the lockdowns. There have been potential setbacks to ethical palm oil expansion globally.

Sustainable Palm Oil Market: Growth Factors

Due to the low cholesterol content contained in sustainable palm oil, there has been significant demand in this market. Also, the number of people suffering from cardiovascular diseases has gone up globally, which has increased the demand for sustainable palm oil. Consumers are getting more conscious of the food item and ingredients they consume and have been readily adopting for sustainable palm oil.

The application of palm oil in various industries such as soaps, lipstick, ice cream and detergents has propelled the growth of sustainable palm oil market. There has also been increasing demand from the consumers for the organic or natural products which is also one of the reasons to boost the demand for sustainable palm oil market.

Type Analysis Preview

It is also known as tropical oil obtained by extracting kernel of palm tree. There has been increasing demand for this kind of oil due to the factors such as being free from cholesterol, keeping the heart healthy, good for diabetes, regulating blood pressure, keeping the skin healthy and youthful, reducing weight, and protecting from UV rays.

There has been increasing demand for red palm oil due to its advantages such as great source of carotenoids, and vitamin E which act like antioxidants that prevent cell damage. Also, vitamin E helps to keep the immune system in good condition. Consumption of Red Palm Oil has benefits such as improved brain health, supports eye health, and improves skin health.

Application Analysis Preview

Palm Oil is used significantly in cosmetics due to its moisturizing and texturizing properties. Due to its properties of skin hydration, foaming and softening the demand for palm oil in cosmetics is always high. The palm oil has deeply moisturizing properties and contain re-fattening agents which help restore the skin’s natural oils and they act as a relief to itchy skin and irritated cuticles.

There has been increasing usage of palm oil while making soaps because the soaps become full of vitamins and minerals which are healthy for the body. As these vitamins are full of antioxidants, they protect the body from various diseases and infections. The palm oil soaps also improve the hair quality and keeps wrinkles to minimum, helping the skin to glow and shine.

 Palm Oil is commonly used in most foods as its taste is considered savory and earthy. It is widely used in foods because of its factors such as energy boosting properties, anti-thrombotic, balanced cholesterol, presence of Vitamins D,E and K and has rich antioxidant properties. As it is semi-solid at room temperature and does not require hydrogenation for use as a food ingredient, its usage becomes even more prevalent in foods.

Sustainable Palm Oil Market: Report Scope

Sustainable Palm Oil Market: Regional Analysis Preview

The high demand for the palm oil in this region is due to the factors such as rising living standards, improving economic conditions, changing eating habits in emerging countries and growing demand for vegetable oil as a feedstock in order to produce biodiesel. It has the properties such as smooth and creamy texture, has no smell which acts as a perfect ingredient specially for the bakery products. Also, the increasing environmental concerns have boosted the demand for biodiesel, which uses palm oil in production, thus boosting the overall demand for the Sustainable Palm Oil Market.

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This is mainly due to the factors such as major share of global palm oil production and nutritious foods, presence of key market players, increasing disposable income and the health concerns regarding trans-fat consumption. Also, there has been increasing consumer awareness about the positive effects of palm oil on health, the changing consumer habits and rising demand for biofuels are the factors that have fueled the overall demand for palm oil in this region.

Sustainable Palm Oil Market: Key Players & Competitive Landscape

Some of the key players in the Sustainable Palm Oil market include

• IOI corporation Berhad
• New Britain palm oil limited
• Golden Agri-Resources limited
• Wilmer International Limited
• Kulim Berhad
• Kuala Lumpur Kepong
• Sime Darby plantation sendirian Berhad
• United Plantation Berhad
• Cargill
• SIPEF Group Belgium

The Global Sustainable Palm Oil Market is segmented as follows:

By Type

• Palm Kernel Oil
• Red Palm Oil
• Fractional Palm Oil

By Application

• Cosmetics
• Food
• Bakery Products
• Margarine
• Soap and detergents
• Pet Food

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa