Palm oil market is majorly driven by rapidly increasing usage of products as bio-based diesel. Other factors fueling the market at global level include several initiatives including RSPO, POIG & more and rising use of the product as a trans-fat substitute in processed foods. Moreover, consumers across the globe are opting for bio-based cosmetics, lubricants and surfactants over other products which has further prompted the market. Furthermore, key trends of the industry include increasing demand for red palm oil, rising shift towards palm oil crop transplanting as well as growing sustainable palm oil production. Consumption of soybean oil in developing economies, stringent regulations, retail consolidations and weather uncertainties can challenge the market’s growth over the forecast period.
Get more insights at: Global Palm Oil Market 2020-2025
The global palm oil industry is segmented by different types and applications. Further type segment of the market is sub-segmented into palm kernel oil, crude palm oil and others. Crude palm oil of type segment is leading the market trailed by palm kernel oil. This is because crude palm oil consists of less saturated fat as compared to palm kernel oil as well as crude palm oil has got high level of tocotrienols that makes it an exceptional source of vitamin E & powerful antioxidant.
Similarly, application segment of the global palm oil market is bifurcated into bio-diesel, cooking oil, lubricant, cosmetics and others. The cooking oil segment of application segment acquires the largest market. But, cosmetics segment is predictable of witnessing higher growth rate in upcoming years.
Geographical segmentation of the palm oil industry includes several key regions such as Europe, Asia Pacific, North America and rest of the world (RoW). Asia Pacific is leading the global market and is expected to witness a significant growth over the forecast period owing to rising consumption of palm oil in several industries in the region. Moreover, Indonesia & Malaysia are the key producers as well as exporters of palm fruit that is majorly contributing towards the growth of market in Asia Pacific region. On the other hand, North America and Europe are estimated of growing at a moderate rate over the forecast period.
Furthermore, Latin America and the Middle East & Africa are anticipated to be the fastest growing regions in palm oil market in next seven years.
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Some of the key players outlined while the global palm oil market analysis include Wilmar International Limited (Singapore), Cargill Inc. (U.S.), IOI Corp. (Malaysia), Sime Darby (Malaysia), Golden Agri Resources Limited (Singapore), Godrej Agrovet Limited (India), Kulim BHD (Malaysia) and London Sumatra (Indonesia). Moreover, most of these players are constantly investing in their R&D department in order to improvise their product portfolio so that can provide a wider application base as well as sustain in the market. Besides, technological developments along with high foreign investments in the business for sustainable means of production is projected to create abundant opportunities for market participants globally.
Key segments of the global palm oil market include:
- Type Segmentation
- Palm kernel oil
- Crude palm oil
- Application Segmentation
- Cooking oil
- Geographical Segmentation
- Asia Pacific
- North America
- Rest of the world (RoW)
What to expect from the upcoming report on ‘Global Palm Oil market’:
– Global Palm Oil market report analyses about future prospects as well as trends market over the forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing as well as developed economies.
– Supportive initiatives by government likely to influence the market dynamics.
– Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
– In-depth analysis of different market segmentations including regional segmentations, applications and end-users.
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
For Any Query on the Palm Oil Market:
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This post was originally published on The Picayune Current