Global Palm Oil Market worth USD 92.84 Billion in 2021: Zion Market Research

According to the report, global palm oil market was valued at USD 65.73 billion in 2015, is expected to reach USD 92.84 billion in 2021 and is anticipated to grow at a CAGR of 7.2% between 2016 and 2021.

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| Source: Zion Market Research

Sarasota, FL, Dec. 16, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Palm Oil Market Analysis by Derivative (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), and for Edible Oil, Cosmetics, Bio-diesel, Lubricants, Surfactants and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021”. According to the report, global palm oil market was valued at USD 65.73 billion in 2015, is expected to reach USD 92.84 billion in 2021 and is anticipated to grow at a CAGR of 7.2% between 2016 and 2021. 

Palm oil is an economically important and versatile vegetable oil used as a raw material for both food and nonfood products. Palm oil is most widely used vegetable oil in the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders and cosmetics. Palm oil is also used as a first-generation biofuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most palm oil is produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight and plenty of rain in order to maximize crop production.

Browse through 13 Market Tables and 26 Figures spread over 110 Pages and in-depth TOC on “Global Palm Oil Market: By Application, Derivative, Prices, Industry Size, Share, Segment, Analysis and Forecast 2015-2021”.

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Factors such as improving economic conditions, rising living standards, and changing eating habits in emerging countries, and growing demand for vegetable oil as a feedstock for biodiesel production are driving the palm oil market growth. Furthermore, stringent regulations on trans-fat foods in U.S. and Europe are resulting in the rapid shift in consumption of soybeans oil to palm oil. Additionally, low price of palm oil than other vegetable oils is expected to boost the market growth within the forecast period. Moreover, increasing market penetration by major producing countries such as Indonesia, Malaysia, and Thailand may open up the new opportunity in the palm oil market in the forecast period.

Palm oil derivative segment includes crude palm oil, palm kernel oil, palm kernel cake, and others. The crude oil segment was a leading segment among the other palm oil derivative in the global palm oil market in 2015 owing to growing applications such as edible oil, surfactants, cosmetics, biofuel, and lubricants.  On the basis of application, palm oil market is divided into edible oil, cosmetics, biodiesel, lubricants, surfactants and other applications. Edible oil segment is expected to witness strong growth in upcoming years owing health concerns regarding trans-fat consumption.

Browse the full "Palm Oil Market Analysis by Derivative (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake, and Others), and for Edible Oil, Cosmetics, Bio-diesel, Lubricants, Surfactants and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/palm-oil-market

Asia Pacific dominated the palm oil market in 2015 which was mainly contributed by increasing palm oil applications in edible and non edible applications in emerging countries. China is the largest consumer of oils and fats followed by India in the region. Indonesia and Malaysia produce about 85% of the world’s palm oil. Other producer countries include Thailand. China and India are expected to be the most lucrative markets for manufacturers in Asia Pacific. Strong middle-class population in the region and steady economic growth are some other important factors helps to drive the palm oil market in the Asia Pacific region within the forecast period.

Europe and North America are expected to witness low growth on account of sluggish end-use industries in the region. The US and Canada are two of the major consumer in the North America. However, their palm oil consumption is relatively low with domestically produced soybean and corn oils dominating the edible oils market. Relatively low level of awareness of the impacts of palm oil production among consumers may restrain the market in the region in years to come.

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Latin America is expected to be the future market for palm oil market. Rising urban population, and rising middle-class consumer income witnesses new growth opportunities during the forecast period. Furthermore, rising oil palm cultivation in the region is anticipated to witness market growth in the forecast period.

Key players in palm oil market are Cargill Inc., United Palm Oil Industry Public Company Limited, Wilmar International Limited, Sime Darby, Golden Agri Resources Limited, Godrej Agrovet Limited, PT Astra Agro Lestari Tbk, IOI Corp., London Sumatra, Kulim Bhd, Musim Mas Group, Alami Group and ADM.

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The report segments the global palm oil market as:

Global Palm Oil Market: Derivative Segment Analysis

  • Crude Palm Oil
  • Palm Kernel Oil
  • Palm Kernel Cake
  • Others

Global Palm Oil Market: Application Segment Analysis

  • Edible Oil
  • Cosmetics
  • Bio-diesel
  • Lubricants
  • Surfactants
  • Others 

Global Palm Oil Market: Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East And Africa

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