Press release
Global Palm Oil Market Report 2017 to 2022: Analysis, Size, Share, Growth, Demand, Trends and Forecast
Fact.MR
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Palm oil is a form of edible vegetable oil extracted from the palm tree fruit. Originating in Western Africa, the tree is able to flourish in any tropical region with abundant heat and rainfall. The palm oil market has grown by leaps and bounds since the 1980’s mainly because of the unique functional product properties of palm oil. The palm oil market serves a diverse range of industries such as cosmetics, energy, animal feed, pharmaceutical, and foodservice. It wouldn’t be an exaggeration to say that products derived from palm oil are account for more than 50% of all products displayed on the stores shelves of most supermarkets.
According to Fact.MR, the global market for palm oil is expected to grow at a moderate CAGR, raking more than US$ 33.7 Bn revenues by the end of forecast period, 2017-2022.
Processed Segment Much Larger than Virgin Segment in Palm Oil Market
The processed segment far outpaces its virgin counterpart in the palm oil market with a revenue share approaching three-fourths by product type. A CAGR of 4.1% for the period from 2017-2022 should help it reach a market value of just under US$ 20 billion in 2017. Europe alone contributes a third of the revenue share and it is projected to retain this share throughout the course of the forecast period. The virgin segment of the palm oil market is much smaller in comparison and is particularly attractive in two regions – Europe and APEJ. Key stakeholders would be advised to focus their attention on these for the maximum opportunities that exist in the palm oil market.
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Food Processor Segment a Niche in the Palm Oil Market
A revenue share of slightly over a quarter in the palm oil market makes the food processor segment a relative minnow, especially when contrasted with the foodservice segment. However, it wouldn’t be wise to ignore a market opportunity of more than US$ 9 billion in 2022 and companies involved could devise customized market strategies to target this niche in the palm oil market.
Competition Dashboard in the Palm Oil Market
A few of the most prominent companies in the palm oil market are Cargill Inc., American Vegetable Oils, Grief Inc., Bunge Limited, Fuji Oil Holdings, Ruchi Soya Industries, and Associated British Foods.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Food & Beverages Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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