Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Global Palm Oil Market Factbook (2023 Edition): Analysis By Palm Oil Type (Crude, Kernel), Oil Nature (Organic, Conventional), End-Use, By Region, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
During the forecast period, 2023-2028, the global Palm Oil market is expected to expand at a CAGR of 6.7%. The demand for vegetable oil may rise as a result of the growing world population.
Palm oil might be the solution that, when produced responsibly, has the least detrimental effect on the environment to meet the expanding need.
The Global Palm Oil Market is expected to generate USD 105 billion by the end of 2028, up from USD 67 billion in 2021. Through an immense growth in demand for consumer goods, the emerging middle-class nations like China and India significantly increased worldwide demand for palm oil. Some of the primary drivers boosting demand for palm oil globally are the expanding processed food business, the personal care and cleaning goods industries, the biofuel industry, and the market accessibility of palm oil as cooking oil due to its balanced saturated fats and free of trans fats.
The rising per capita earnings, increasing consumerism, and evolving lifestyle are driving up the demand for edible oils worldwide, particularly palm oil. The worldwide palm oil market was expected roughly 60 to 70 percent of palm oil produced for use in human food and the remains consumed by numerous industries, including biodiesel, personal care, and pharmaceuticals.
The food and beverage sector processes about 60 percent of palm oil. As a result of the expanding world population, demand has only continued to rise. In addition to being used in food products and for cooking, palm oil is also used in biodiesel, cosmetics, and personal care items like shampoo and soap. Perhaps the main factor in the value of palm oil is its adaptability, which accounts for the expansion of the palm oil booming industry.
The research is global in nature and covers a detailed analysis of the market in America (U.S., Brazil, Canada, Mexico, Rest of Americas), Europe (Germany, U.K, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, Vietnam, Thailand, Rest of Asia-Pacific), and Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
The transition to sustainable palm oil production, commerce, and consumption continues to receive support from Europe. It directly emphasis on the global sustainable palm oil production. End-users of palm oil are excellent drivers of change, able to raise sustainability by participating in their supply chains and creating SPO-promoting policies.
The fastest growing country, both in terms of production and consumption, is Indonesia due to increasing palm oil plantation area, favorable government regulations and rising number of edible oil manufacturers engaged in palm oil production activities. For the past few years, customers have embraced biodiesel as a reliable alternative to diesel. In terms of feedstock, palm oil is promoted as the conventional feedstock for the manufacturing of biodiesel and is thought to be a more cost-effective option than soybean.
The end-user trend of the market is expected to alter over time as a result of numerous laws and requirements that have been implemented in various countries. crucial role of palm oil in meeting the future demand for vegetable oils and how important sustainable production is for the people involved and the long-term health of our planet.
Scope of the Report
- The report analyses the Palm Oil Market by Value (USD Billion).
- The report presents the analysis of the Palm Oil Market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
- The report analyses the Palm Oil Market by Palm Oil Type (Crude, Kernel).
- The report analyses the Palm Oil Market by Oil Nature (Organic, Conventional).
- The report analyses the Palm Oil Market by End-Use (Food & Beverages, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceutical, Others (industrial purposes such as surfactants, lubricants, etc.).
- The Global Palm Oil Market has been analysed by region and countries Americas (United States, Brazil, Mexico, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (Indonesia, India, China, Malaysia, Vietnam, Thailand) and the Middle-East.
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Palm Oil Type, Palm Oil Nature and By End-Use.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include IOI Corporation Berhad, Sime Darby Plantation Berhad, Wilmar International Limited, Kuala Lumpur Kepong Berhad, Golden-Agri Resources, United Plantations Berhad, Kulim (Malaysia) Berhad, Univanich Palm Oil.
Key Target Audience:
- Palm Oil Producers/Vendors/Companies
- Supply chain Distributors
- Consulting and Advisory Firms
- Government and Regulatory Authorities
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value in 2023 | 48.99 Billion |
| Forecasted Market Value by 2028 | 69.77 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Market Background
2. Strategic Recommendations
3. Global Palm Oil Market: Historic and Forecast (2018-2028)
4. Global Palm Oil Market, Regional Analysis
5. Americas Palm Oil Market: Historic and Forecast (2018-2028)
6. Europe Palm Oil Market: Historic and Forecast (2018-2028)
7. Asia-pacific Palm Oil Market: Historic and Forecast (2018-2028)
8. Middle-east & Africa Palm Oil Market: Historic and Forecast (2018-2028)
9. Market Dynamics
10. Industry Ecosystem Analysis
11. Competitive Positioning
For more information about this report visit https://www.researchandmarkets.com/r/x473we
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