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    Thailand Palm Oil Market

    ID: MRFR/F-B & N/42763-HCR
    200 Pages
    Garvit Vyas
    September 2025

    Thailand Palm Oil Market Research Report: By Type (Crude Palm Oil, Palm Kernel Oil, Others) and By Application (Edible Oil, Bio-Diesel, Lubricants, Cosmetics, Others) - Forecast to 2035

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    Thailand Palm Oil Market Research Report — Global Forecast till 2035 Infographic
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    Table of Contents

    Thailand Palm Oil Market Summary

    The Thailand Palm Oil market is poised for substantial growth, projected to reach 10.1 USD Billion by 2035 from a base of 2.04 USD Billion in 2024.

    Key Market Trends & Highlights

    Thailand Palm Oil Key Trends and Highlights

    • The market is expected to grow from 2.04 USD Billion in 2024 to 10.1 USD Billion by 2035.
    • A compound annual growth rate (CAGR) of 15.62% is anticipated from 2025 to 2035.
    • The increasing demand for palm oil in various industries is likely to drive market expansion.
    • Growing adoption of sustainable farming practices due to environmental concerns is a major market driver.

    Market Size & Forecast

    2024 Market Size 2.04 (USD Million)
    2035 Market Size 10.1 (USD Million)
    CAGR (2025-2035) 15.62%

    Major Players

    Golden Land Property Development, Bangkok Oil, Thai Vegetable Oil Public Company, PTT Green Energy, Saha Farms, Mitr Phol Group, C.P. Group, Siam Grains, Chareon Pokphand Foods, Wilmar International, Thai Oil Public Company, Siam AgroFood, Bangkok Dehydrated Fruit Co, KSL Group

    Thailand Palm Oil Market Trends

    The palm oil market in Thailand has grown over the years due to some domestic factors, such as increased local consumption and government focus on biofuel promotion. The need for palm oil is rising because it is used in the preparation of food and other processed products in line with population growth and urbanization. The Thai government has put in place policies to assist the palm oil sector, which includes the use of palm oil in biodiesel production as part of the renewable energy policy. This encourages greater sustainability in the industry.

    There are possibilities in the Thailand palm oil market through investment in sustainable agricultural practices and new processing methods.

    As such, the intense focus of businesses growing in palm oil production have to pursue is Corporate Social Responsibility (CSR) is becoming crucial to cope with domestic and international markets.

    Thailand Palm Oil Market Drivers

    Market Segment Insights

    Thailand Palm Oil Market Segment Insights:

    Thailand Palm Oil Market Segment Insights:

    Palm Oil Market Type Insights

    Palm Oil Market Type Insights

    The Thailand Palm Oil Market comprises several key types, each contributing to the industry’s overall dynamics and trends. Crude Palm Oil has been a primary focus of production, owing to its versatility and usage in various sectors, including food, cosmetics, and biofuels, thereby enhancing its demand both domestically and internationally. The appeal of Crude Palm Oil lies in its relatively low production cost and high yield per hectare, making it a significant contributor to the agricultural landscape of Thailand.

    Thailand, as one of the leading producers of palm oil in Southeast Asia, benefits from favorable climatic conditions, which boost the cultivation of oil palm trees, therefore reinforcing the importance of this type in the local economy.

    Palm Kernel Oil, derived from the seed of the oil palm fruits, holds a unique position within the market as well. It is recognized for its applications in the food sector, particularly in the production of margarine and bakery items, as well as in non-food applications such as soaps and detergents. This type not only complements the usage of Crude Palm Oil but also caters to rising consumer preferences for plant-based oils, thus presenting opportunities for growth and innovation within the Thailand Palm Oil Market.

    Other types in the market may encompass a variety of palm-based products, appealing to niche segments in both food and industrial applications. These variants facilitate diversification in product offerings and provide manufacturers with the flexibility to meet evolving market demands and consumer preferences. The segment's diversity allows stakeholders to explore new markets and engage with health-conscious consumers who seek sustainable and natural alternatives.

    Palm Oil Market Application Insights

    Palm Oil Market Application Insights

    The Thailand Palm Oil Market is characterized by diverse applications, significantly contributing to its overall market dynamics. In the realm of Edible Oil, palm oil has long been a staple in Thai cooking due to its favorable nutritional properties and cost-effectiveness, meeting the demand for both local consumption and export. The Bio-Diesel application is rapidly growing, driven by Thailand's commitment to renewable energy strategies, aiming to decrease dependency on fossil fuels.

    Lubricants derived from palm oil are gaining traction due to their biodegradable nature, aligning with global sustainability trends.The Cosmetics segment benefits from palm oil's moisturizing properties, making it a preferred ingredient in personal care products, thus supporting the beauty industry's growth. Additionally, the 'Others' category includes various uses, such as in animal feed and industrial applications, reflecting the versatility and importance of palm oil in numerous sectors. Overall, the Thailand Palm Oil Market segmentation reveals significant growth potential across multiple applications, driven by evolving consumer preferences and government initiatives toward sustainable practices within the industry.

    Get more detailed insights about Thailand Palm Oil Market Research Report — Global Forecast till 2035

    Regional Insights

    Key Players and Competitive Insights

    The Thailand Palm Oil Market is a dynamic sector within the agricultural economy of the country, driven by both domestic demand and international trade. The competitive landscape is characterized by a mix of established players and emerging companies, all vying for market share in this essential commodity. The palm oil industry in Thailand has seen significant growth in recent years, influenced by favorable government policies, increasing consumer awareness around sustainability, and the rising use of palm oil in various applications.

    As a result, businesses are continuously working to enhance their operational efficiencies and innovate their product lines to maintain a competitive edge. Factors such as production capacity, supply chain logistics, and strategic partnerships significantly contribute to how companies establish their positions within this market framework.Golden Land Property Development has carved a niche for itself within the Thailand Palm Oil Market through its strategic focus on land development for palm oil cultivation. The company's strengths lie in its deep understanding of the agricultural landscape and its ability to efficiently manage large tracts of land conducive to palm oil production.

    Golden Land Property Development emphasizes sustainable farming practices, which resonate well with the growing green consumerism movement. The company's effective supply chain management and strong local partnerships bolster its market presence, allowing it to optimize yield while minimizing environmental impact. These factors contribute to its competitive advantage in the palm oil sector, highlighting its role as a forward-thinking player committed to sustainable development in Thailand.Bangkok Oil operates with a robust presence in the Thailand Palm Oil Market, predominantly focusing on the production and refining of palm oil derivatives.

    This company is well-known for its diverse range of products, including cooking oils, margarine, and specialty fats, which cater to both local and international markets. Bangkok Oil demonstrates a strong commitment to quality assurance and innovative product development, which has fortified its positioning among consumers. The firm's proactive approach to mergers and acquisitions has further augmented its market reach, enabling it to enhance production capabilities and broaden its product offerings.

    This focus not only strengthens its competitive position but also aligns with the increasing demand for high-quality palm oil products in Thailand, allowing Bangkok Oil to maintain a leading role in this rapidly evolving market landscape.

    Key Companies in the Thailand Palm Oil Market market include

    Industry Developments

    In recent months, the Thailand Palm Oil Market has witnessed several significant developments. In September 2023, Thailand's government announced measures to support palm oil farmers by introducing a price stabilization plan, aiming to maintain the local market price above 4,000 baht per tonne. This effort is a response to fluctuating global prices affecting local producers, particularly impacting companies like Thai Vegetable Oil Public Company and Mitr Phol Group.

    Additionally, PTT Green Energy has been developing a new palm oil biofuel project to enhance renewable energy production and align with national sustainability goals.In the merger and acquisition landscape, there have been discussions surrounding potential strategic partnerships among players such as Wilmar International and Saha Farms to enhance market efficiency and share technology. Meanwhile, growth in the market has prompted significant investments in processing facilities by Siam Grains and C.P. Group, catering to rising demand for both domestic use and export markets.

    Notably, Thailand's palm oil production has shown a consistent upward trend over the last two years, with the Ministry of Agriculture and Cooperatives reporting increased yields and a more significant focus on sustainability practices in oil palm cultivation.

    Market Segmentation

    Report Scope

    Report Scope:,,,,,,,,,,,,,
    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 920.02(USD Million)
    MARKET SIZE 2024 935.68(USD Million)
    MARKET SIZE 2035 1756.98(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 5.895% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Million
    KEY COMPANIES PROFILED Golden Land Property Development, Bangkok Oil, Thai Vegetable Oil Public Company, PTT Green Energy, Saha Farms, Mitr Phol Group, C.P. Group, Siam Grains, Chareon Pokphand Foods, Wilmar International, Thai Oil Public Company, Siam AgroFood, Bangkok Dehydrated Fruit Co, KSL Group
    SEGMENTS COVERED Type, Application
    KEY MARKET OPPORTUNITIES Rising demand for biodiesel, Expansion of health food sector, Growth in soap and cosmetic industries, Increased export potential to Asia, Government support for sustainable practices
    KEY MARKET DYNAMICS Supply chain challenges, Regulatory environment shifts, Fluctuating global prices, Increasing domestic demand, Sustainable production practices
    COUNTRIES COVERED Thailand

    Market Highlights

    Author
    Garvit Vyas
    Analyst

    Explore the profile of Garvit Vyas, one of our esteemed authors at Market Research Future, and access their expert research contributions in the field of market research and industry analysis

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    FAQs

    What is the expected market size of the Thailand Palm Oil Market in 2024?

    The Thailand Palm Oil Market is expected to be valued at 935.68 million USD in 2024.

    What will be the expected market size of the Thailand Palm Oil Market by 2035?

    By 2035, the Thailand Palm Oil Market is anticipated to reach a valuation of 1756.98 million USD.

    What is the expected compound annual growth rate (CAGR) for the Thailand Palm Oil Market from 2025 to 2035?

    The Thailand Palm Oil Market is projected to grow at a CAGR of 5.895% between 2025 and 2035.

    Which segment of the Thailand Palm Oil Market is expected to dominate in 2024?

    In 2024, the Crude Palm Oil segment is expected to dominate with a market size of 500 million USD.

    What is the estimated market size for Palm Kernel Oil in the Thailand Palm Oil Market in 2024?

    The Palm Kernel Oil segment is expected to be valued at 250 million USD in 2024.

    Who are the key players in the Thailand Palm Oil Market?

    Major players include Golden Land Property Development, Bangkok Oil, and Thai Vegetable Oil Public Company among others.

    What will be the market size for the 'Others' segment of the Thailand Palm Oil Market in 2035?

    The 'Others' segment is projected to be valued at 356.98 million USD in 2035.

    What factors are driving growth in the Thailand Palm Oil Market?

    Key growth drivers include rising demand for palm oil in food and biofuel applications.

    What challenges does the Thailand Palm Oil Market face going forward?

    Challenges include environmental concerns and regulatory pressures affecting production processes.

    What impact do global market trends have on the Thailand Palm Oil Market?

    Global market trends influence pricing and demand dynamics, significantly impacting the Thailand Palm Oil Market.

    1. EXECUTIVE SUMMARY
      1. Market Overview
      2. Key Findings
      3. Market Segmentation
      4. Competitive Landscape
      5. Challenges and Opportunities
      6. Future Outlook
    2. MARKET INTRODUCTION
      1. Definition
      2. Scope of the study
        1. Research Objective
        2. Assumption
        3. Limitations
    3. RESEARCH METHODOLOGY
      1. Overview
      2. Data Mining
      3. Secondary Research
      4. Primary Research
        1. Primary Interviews and Information Gathering Process
        2. Breakdown of Primary Respondents
      5. Forecasting Model
      6. Market Size Estimation
        1. Bottom-Up Approach
        2. Top-Down Approach
      7. Data Triangulation
      8. Validation
    4. MARKET DYNAMICS
      1. Overview
      2. Drivers
      3. Restraints
      4. Opportunities
    5. MARKET FACTOR ANALYSIS
      1. Value chain Analysis
      2. Porter's Five Forces Analysis
        1. Bargaining Power of Suppliers
        2. Bargaining Power of Buyers
        3. Threat of New Entrants
        4. Threat of Substitutes
        5. Intensity of Rivalry
      3. COVID-19 Impact Analysis
        1. Market Impact Analysis
        2. Regional Impact
        3. Opportunity and Threat Analysis
    6. THAILAND PALM OIL MARKET, BY TYPE (USD MILLION)
      1. Crude Palm Oil
      2. Palm Kernel Oil
      3. Others
    7. THAILAND PALM OIL MARKET, BY APPLICATION (USD MILLION)
      1. Edible Oil
      2. Bio-Diesel
      3. Lubricants
      4. Cosmetics
      5. Others
    8. COMPETITIVE LANDSCAPE
      1. Overview
      2. Competitive Analysis
      3. Market share Analysis
      4. Major Growth Strategy in the Palm Oil Market
      5. Competitive Benchmarking
      6. Leading Players in Terms of Number of Developments in the Palm Oil Market
      7. Key developments and growth strategies
        1. New Product Launch/Service Deployment
        2. Merger & Acquisitions
        3. Joint Ventures
      8. Major Players Financial Matrix
        1. Sales and Operating Income
        2. Major Players R&D Expenditure. 2023
    9. COMPANY PROFILES
      1. Golden Land Property Development
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      2. Bangkok Oil
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      3. Thai Vegetable Oil Public Company
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      4. PTT Green Energy
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      5. Saha Farms
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      6. Mitr Phol Group
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      7. C.P. Group
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      8. Siam Grains
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      9. Chareon Pokphand Foods
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      10. Wilmar International
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      11. Thai Oil Public Company
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      12. Siam AgroFood
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      13. Bangkok Dehydrated Fruit Co
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      14. KSL Group
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
    10. APPENDIX
      1. References
      2. Related Reports

    Thailand Palm Oil Market Segmentation

     

     

     

    • Palm Oil Market By Type (USD Million, 2025-2035)

      • Crude Palm Oil
      • Palm Kernel Oil
      • Others

     

    • Palm Oil Market By Application (USD Million, 2025-2035)

      • Edible Oil
      • Bio-Diesel
      • Lubricants
      • Cosmetics
      • Others

     

     

     

     

     

     

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