Why the Palm Oil Derivatives Market is set to explode? Top Companies: Cargill, Wilmar International, Golden Agri-Resources (GAR), London Sumatra and more

Sime Darby, a Malaysian Trading conglomerate announced their plans of increasing their annual refining capacity of 3.8 million tonnes by expanding in key markets of China and India through new refineries. According to this plan, the company wishes to double the Malaysian edible fats and oils, currently holding capacity of 330,000 tonnes, and of its domestic biodiesel refinery, currently holding a capacity of 60,000 tonnes. Such innovations taken by companies are anticipated to promote the growth of the global palm oil derivatives market, predicts Fortune Business Insights in their new study.

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Top Leaders Overview:
Some of the leading players operating in the Global Palm Oil Derivatives market includes;
• Cargill
• Wilmar International Ltd.
• Golden Agri-Resources Ltd.
• London Sumatra
• BASF and Astra Agro Lestari

The study by Fortune Business Insights conducted on palm oil derivatives market is titled, “Palm Oil Derivatives Market Size, Share and Global Trend By Type (RBD Palm Oil, RBD Palm Olein & Stearin, Oleochemicals, Palm Kernel Fatty Acid Distillates, Palm Kernel Meal, Others), By Application (Food, Cosmetics & Personal Care, Pharmaceuticals, Biofuel, Animal Feed, Other Applications) and Geography Forecast 2019-2026.”

The report is based on an in-depth analysis of the palm oil derivatives market by presenting information on different aspects of the market such as drivers, restraints, trends, and opportunities. The information presented in the report is gathered from both primary and secondary research methodologies.

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Key Segments Analysis:
By Type
• RBD Palm Oil
• RBD Palm Olein & Stearin
• Oleochemicals
• Palm Kernel Fatty Acid Distillates
• Palm Kernel Meal
• Others
By Application
• Food
• Cosmetics & Personal Care
• Pharmaceuticals
• Biofuel
• Animal Feed
• Other Applications

By Geography
Crude Palm Oil and Palm Kernel Oil Segments to Emerge Dominant

According to the report, the market is anticipated to be dominated by palm kernel oil and crude palm oil, based on palm oil type, because of their superior functionality. These derivatives exhibit a high processability degree and are capable of being blended into various formulations. This results in a wide range of products with different characteristics and therefore their demand is more in the market as compared to the other palm oil types.

Increasing Demand from Cosmetic Industry to Propel Market Growth

Palm Oil is utilized in various applications such as cosmetics, cleaning agents, body products, and food products. The consumption rate of palm oil is increasing by the day due to their cost-efficient properties and the fact that they are an efficient source of vegetable oil. This stands as a major factor promoting the growth of the global palm oil derivatives market. Palm oil is also used in beauty products such as cosmetics, hair sprays, shampoo and conditioners, and others. The demand for palm oil from the beauty and cosmetics industry is also anticipated to boost the market globally in the coming years.

On the flip side, the increasing popularity of alternatives to palm oil may hamper its growth in the forecast duration. This, coupled with the fact that unsustainable production of palm oil is taking place in an uncontrolled manner may also cause hindrance to the global palm oil derivatives market in the long run.

Nevertheless, palm oil is utilized by various industries such as beauty and cosmetics, food and beverage, and others. About 60 percent of the total palm oil consumption is in the form of derivatives. This factor is further anticipated to help the market grow remarkably in the coming years.

Asia Pacific to Grow Rapidly Owing to Increasing Demand from Food Processing Industries

Owing to their high rate of consumption, both Europe and North America are anticipated to dominate the palm oil derivative market. In addition, the demand for personal care applications and cosmetics is projected to witness high consumption growth. Moreover, the low production cost and increasing demand for palm oil derivatives from various sectors are prognosticated to help both the regional markets generate high revenue in the forecast period.

On the other hand, Malaysia and Indonesia are considered the two major global hotspots in the production of palm oil. Other than that, both India and China are two leading nations in terms of the consumption of palm oil. The food processing industries of these two nations are anticipated to attract more revenue to the palm oil derivatives market and help Asia Pacific show rapid growth in the future.

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Major companies such as BASF are making conscious efforts for transferring the full line of offerings to certified sustainable palm oil. In this way, these companies are undertaking on the sustainability of palm oil derivatives and maintaining their position in the competition.
The report highlights some of the major shareholders in the global palm oil derivatives market.

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