The latest report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the palm oil market overview. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global palm oil market size reached US$ 55.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 80.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.
Palm oil is a versatile and widely used vegetable oil derived from the fruit of the oil palm tree. It is a staple in the global food and beverage (F&B) industry due to its cost-effectiveness and high yield, making it a crucial ingredient in numerous products. It is found in a vast array of items, ranging from cooking oils, margarines, and shortenings to processed food products like baked goods, confectionery, and snacks. Palm oil's semi-solid state at room temperature and its stability when heated make it ideal for frying and as a key ingredient in many packaged food products.
Beyond its culinary uses, palm oil is also prevalent in the non-food sector. It is a common ingredient in personal care products, such as soaps, shampoos, and cosmetics, owing to its moisturizing properties and smooth texture. Additionally, the oil’s derivatives like palm kernel oil and palm kernel expeller, are used in animal feed and as a raw material in the oleochemical industry, producing fatty acids, glycerin, and other chemicals used in various industrial applications.
Get a Sample Copy of this Report: https://www.imarcgroup.com/palm-oil-processing-plant/requestsample
Palm Oil Market Trends:
At present, as the global population is growing, particularly in emerging economies, the demand for food products that use palm oil is increasing. Urbanization is driving higher consumption of processed and convenience food products, which often contain palm oil. Besides this, inflating income levels in developing countries are leading to increased purchasing power and dietary changes, thereby propelling the growth of the market.
In addition, palm oil is favored for its versatility and high yield compared to other vegetable oils. It is used in a wide range of products, ranging from food to personal care and industrial applications, making it a staple ingredient across various sectors. Moreover, the push for renewable energy sources is leading to an increasing use of palm oil in biofuel production, particularly biodiesel. Apart from this, palm oil is generally cheaper to produce than other vegetable oils due to its high yield per hectare, making it an attractive option for manufacturers looking to minimize costs.
Explore Full Report with Table of Contents: https://www.imarcgroup.com/palm-oil-processing-plant
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Archer-Daniels-Midland Company
- Asian Agri
- Boustead Holdings Berhad
- IJM Corporation Berhad
- IOI Corporation Berhad
- Kuala Lumpur Kepong Berhad
- Kulim Malaysia Berhad (Johor Corporation)
- PT Dharma Satya Nusantara Tbk
- PT PP LONDON SUMATRA INDONESIA TBK
- PT Sampoerna Agro Tbk
- Bakrie Sumatera Plantations tbk
- Sime Darby Plantation Berhad
- United Plantations Berhad
- Univanich Palm Oil Public Company Ltd.
- Wilmar International Ltd
Palm Oil Market Segmentation:
Our report has categorized the market based on region and application.
Breakup by Application:
- Household Cooking
- Food & Beverages
- Oleo Chemicals
- Personal Care
- Animal Feed
- Bio-fuel
Regional Insights:
- India
- Indonesia
- China
- European Union
- Malaysia
- Others
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
