Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Palm Oil Market Size Was Valued At USD 63.7 Billion In 2021 And Is Expected To Grow at a CAGR Of 5.1% In Revenue From 2022 To 2030. Palm oil is a vegetable oil that can be eaten. It is made from the West African oil palm fruit's mesocarp. It produces 5–10 times more oil per hectare than other major vegetable oil crops. It doesn't have any cholesterol, is easy to digest, has a lot of carotenoids and vitamin A, and has many other health benefits. Palm oil is a vegetable oil that comes from the mesocarp of the palm fruit and can be eaten. At the moment, palm oil is the most common edible oil used in India. Soybean oil and mustard oil come in second and third. But India gets most of the palm oil it needs from Malaysia and Indonesia because India doesn't make much of it itself. At the moment, the Indian palm oil market is being driven by things like prices going down, more people moving to cities, more money in their pockets, more demand from the food service industry, and more uses outside of food.
Request Sample Copy of Report “Palm Oil Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- In May 2022, Stichting and Green. The Fund (“&Green”) announced a US$12 million investment in PT Hilton Duta Lestari (“HDL”) to build a crude palm oil mill in West Kalimantan, Indonesia, and create an inclusive palm oil supply base.
Regional Outlook:
Over the next few years, the Asia-Pacific Palm Oil market is expected to grow a lot. This is because more people are becoming aware of energy conservation and sustainable development. In 2019, the region's share of revenue was more than 35%, and it is expected to continue to be the most important during the forecast period. This could be because the population is growing, people are moving to cities quickly, the economy is growing, or the weather is changing.
In the Asia-Pacific region, there have been more hurricanes and floods, which have knocked out power in several countries, including China, India, Japan, and Australia, over the past few years. Also, because of these natural disasters, governments around the world have made policies to encourage the use of renewable energy sources to make electricity. This will increase the demand for green technologies in the region by a lot over the next eight years, from 2020 to 2030.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/69277/?Mode=PM
Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.1% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 63.7 Billion |
| By Type | Crude Palm Oil, Palm Olein, Other |
| By Nature | Organic, Conventional, Other |
| By Application | Foods, Bio-Diesel, Surfactants, Cosmetics, Others |
| By Companies | Felda Global Ventures, IOI, Sime Darby Berhad, Musim Mas, Astra Agro Lestari, Bumitama Agri, Genting Group, KLK, WILMAR, RGE Pte, Indofood Agri Resources, Golden Agri Resources, First Resources, Sampoerna Agro |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
SkyQuest says that there are two main things that are causing this growth: more people living in developing countries and more people wanting healthier food. Also, as electric cars become more popular, there will be more demand for palm oil and other biofuels. Palm oil is the second most popular vegetable oil in the world right now, after soybean oil, and this trend is likely to continue. This is because of a few things: Palm oil is good for cooking and frying because it has a lot of saturated fatty acids. It can be used for a lot of different things and is cheap.
On top of that, some people worry about how palm oil might affect climate change. SkyQuest research shows that more palm oil production could lead to a lot of greenhouse gas emissions if trees are cut down faster than they can be replanted. But people are still working on finding alternatives to palm oil, so there is still hope that this won't be a problem in the long run.
Even though there are some worries about sustainability, the market for palm oil has more opportunities than problems. Overall, it thinks that production will slow down in the future as farmers switch to more sustainable ways of farming, like protecting forests or using better agronomic practises.
Key Segments Covered:
Top Market Players:
Felda Global Ventures, IOI, Sime Darby Berhad, Musim Mas, Astra Agro Lestari, Bumitama Agri, Genting Group, KLK, WILMAR, RGE Pte, Indofood Agri Resources, Golden Agri Resources, First Resources, Sampoerna Agro, and others.
By Type
- Crude Palm Oil
- Palm Olein
- Other
By Application
- Foods
- Bio-Diesel
- Surfactants
- Cosmetics
- Others
By Nature
- Organic
- Conventional
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Argan Oil Market - The global Argan Oil Market Size is anticipated to reach USD 427.05 million by 2030, registering a CAGR of 20.38% during 2022-2030. Asia-Pacific has the biggest share of the global market for argan oil. Europe is one of the most important places to buy argan oil.
- Cannabidiol Oil (CBD Oil) Market - The global Cannabidiol Oil (CBD Oil) Market is expected to at a CAGR of 38.90% during the forecast period. This indicates that the market value, which was USD 9.86 Billion in 2022, would rocket up to USD 136.64 Billion by 2030. In 2020, North America had the biggest share of the $1276.7 million cannabidiol market.
- Refined Coconut Oil Market - The global Refined Coconut Oil Market is projected to reach approx. USD 1.95 Billion by 2030, growing at a CAGR of 9.32% during the forecast period from 2022 to 2030. In 2020, 820 million USD will be made in sales in the Asia-Pacific region. This is the largest market in the world.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
