Report Details:
15 Companies Covered
200 Pages
Market Research Future (MRFR) has published a cooked research report on the “Global Palm Oil Market” that contains information from 2025-2035. The Global Palm Oil Market is estimated to register a CAGR of 2.05% during the forecast period of 22025-2035.
MRFR recognizes the following companies as the key players in the global Palm Oil Market— Cargill Inc., Wilmar International Limited, Sime Darby, IOI Corp., Golden Agri Resources Limited, Kulim BHD, Godrej Agrovet Limited and London Sumatra.
Palm Oil Market Highlights
The Global Palm Oil Market is accounted to register a CAGR of 2.05% during the forecast period and is estimated to reach USD 90 Billion by2025-2035.
The global palm oil market refers to the worldwide production, consumption, and trade of palm oil, which is a versatile vegetable oil derived from the fruit of oil palm trees. Palm oil is widely used in various industries, including food, cosmetics, pharmaceuticals, and biofuels.
The global palm oil market is influenced by international trade dynamics, government regulations, consumer preferences, and sustainability concerns. As awareness of the environmental and social issues associated with palm oil grows, there is an increasing demand for sustainable and traceable palm oil products.
Segment Analysis
The Global Palm Oil Market has been segmented based on type and application.
On the basis of type, the market is segmented into crude palm oil and palm kernel oil. The tocotrienol content of palm oil, a significant source of vitamin E and a potent antioxidant, fuels the market's expansion.
Based on application, the market has been segmented into edible oil, bio-diesel, lubricants and cosmetics. By the end of the projection period, the cooking sector, which has a modest growth rate, is anticipated to make a sizable contribution to the worldwide revenue share.
Regional Analysis
The global Palm Oil Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Palm Oil Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Palm Oil Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Palm Oil Market comprises of Middle East, Africa, and Latin America.
While North America is not a major palm oil producer, it is an important market for palm oil imports. The United States and Canada import palm oil for various applications, including food processing, biofuels, and personal care products.
Europe is one of the largest consumers and importers of palm oil. European countries have been active in promoting sustainable palm oil practices and implementing regulations to ensure the traceability and sustainability of imported palm oil.
Asia pacific is the largest importers of palm oil in the world. India is a major consumer of palm oil due to its high demand for cooking oil, while China uses palm oil for various purposes, including cooking and industrial applications.
Furthermore, the rest of the world's Global Palm Oil Market is divided into the Middle East, Africa, and Latin America. Countries in Latin America, such as Colombia, Ecuador, and Brazil, have been increasing their palm oil production in recent years. While Latin America's contribution to the global palm oil market is smaller compared to Southeast Asia, the region has seen growth in palm oil cultivation and exports.
Key Findings of the Study
- The Global Palm Oil Market is expected to reach USD 98.84 Billion by 2030, at a CAGR of 5.20% during the forecast period.
- Asia pacific is the largest importers of palm oil in the world. India is a major consumer of palm oil due to its high demand for cooking oil, while China uses palm oil for various purposes, including cooking and industrial applications.
- Based on type, the market is segmented into crude palm oil and palm kernel oil holding the largest market in 2022.
- Cargill Inc., Wilmar International Limited, Sime Darby, IOI Corp., Golden Agri Resources Limited, Kulim BHD, Godrej Agrovet Limited and London Sumatra.