Palm Oil Market Size, Share & Growth Analysis By Application To 2028

Key Market Insights:

The global palm oil market is forecast to exhibit a CAGR of 3.3% in the coming years.

Palm oil is a versatile food product and is a widely adopted ingredient for industry applications. Crude palm oil is one of the rich sources of Vitamin A and Vitamin E. The demand for palm oil for its health benefits has captured a huge market share in the past few years.

𝐓𝐨 𝐆𝐞𝐭 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐆𝐫𝐚𝐛 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐇𝐞𝐫𝐞: https://www.eternityinsights.com/request-a-sample/26344

Market Trends:

Palm oil is an edible vegetable oil extracted from the fruit of palm trees. These are available in two categories namely crude palm oil and palm kernel oil. The market share for palm oil is more than 45% and majorly used for all products. For instance, in the food and beverage industry, it serves as a raw ingredient for doughnut, chocolate, cakes etc. Similarly, it caters to the fashion industry with products such as deodorants, shampoo, and lipstick. Lately, it also finds extensive use as a biofuel in the animal feed industry. The production of palm oil is a highly versatile process and can be produced in small area of land. It exhibits more productiveness over soybean and coconut oil.

Drivers:

High demand for palm oil to boost the market growth

The palm oil market share is expected to grow positively in the coming years attributed to the high demand, favorable market conditions and high consumption across end-user segments. Use of trans-fatty acids in the production of cosmetics, pharmaceuticals and nutraceuticals is expected to drive market growth. Simultaneously, the market growth is also catalyzed due to extensive demand for biofuel and animal feed. The growing disposable income and rise in per capita expenditure on consumer food products is resulting in market growth in the coming years. Moreover, government regulations and subsidies have been instrumental in maintaining market growth.

Restraints:

Environmental concerns and low-lying production methods

On contrary, high production prices and environmental concerns have been limiting the market growth. However, the adoption of sustainable production methods have been countering the market challenges.

Read More Details: https://www.eternityinsights.com/report/palm-oil-market

Key Players:

The key players profiled in the palm oil market report include Cargill Inc, Sime Darby, IOI Corporation, Wilmar International Limited, Golden Agri Resources Limited, London Sumatra, Agrovet India, and Kuala Lumpur Kepong. In terms of industry participation, the players have adopted mergers, acquisitions and partnerships to strengthen their market position on a global scale. Apart, there have been major spending on the research and development to build a better product portfolio. Some of the key players hold a huge share in the market in terms of revenue and volume. Technological innovation has a major impact on the industrial growth of key players.

Contact Us:

Devid Anderson
Corporate Sales Specialist
Email: sales@eternityinsights.com
web: www.eternityinsights.com

Eternity Insights offers tailormade end to end B2B business solutions to the companies located worldwide. The insights delivered by Eternity Insights supports the visions of industries seeking growth opportunities across multiple application areas such as Healthcare, Food and Beverages, ICT, Chemicals and Materials, Automobiles, among others.

The company assists its clients to visualize marketplace, to identify competition, and to build strong competitive strategies leveraging high success. Our reports are based on robust research approaches and are validated by industry experts thereby providing higher confidence level and trust that is crucial to maintain strong business relationships.

This release was published on openPR.