Palm Oil Market - Global Industry Size Projected to Reach USD 77.5 Billion by 2033 | CAGR of 3.42%.

According to the latest report by IMARC Group, titled "Palm Oil Market Report by Application (Household Cooking, Food & Beverages, Oleo Chemicals, Personal Care, Animal Feed, Bio-fuel), and Region 2025-2033", offers a comprehensive analysis of the industry, which comprises insights on the global animal health market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global palm oil market size reached USD 57.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 77.5 Billion by 2033, exhibiting a growth rate (CAGR) of 3.42% during 2025-2033.

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Global Palm Oil Market Dynamics:

Growing Demand from the Food Industry:

The demand for palm oil is largely dictated by food industry needs. As a result, palm oil is widely used in cooking oils, processed foods, sauces, baked products, sweets, and more because it is economical, multipurpose, and functional. Along with relatively affordable developing nations, the increasing populace across the globe aids in the growth of palm oil. Because of the market's consistent growth, palm oil's stability and texture makes it a vital ingredient in many goods.

Expanding Applications in the Biofuel Sector:

The use of palm oil in renewable energy is also growing, especially for biofuels. Concerns about greenhouse emissions and the need for sustainable energy have increased the biofuel market. Palm oil is also an easily cultivated plant for producing biodiesel. While incentives around the world encourage the use of biofuels, many are skeptical about its sustainability as a primary energy source.

Increasing Consumer Awareness and Sustainability Concerns:

Growing consumer awareness and sustainability issues have raised global scrutiny over the palm oil industry. The environmental and social aspects of palm oil production such as deforestation and habitat destruction, have made it imperative for firms to adopt transparent and responsible sourcing practices. This has led to the creation of sustainability certifications, such as the Roundtable on Sustainable Palm Oil (RSPO), to guarantee responsible production and social practices. This shift is impacting traditional business and economic practices, enabling sustainable production of palm oil by the obstacle of deforestation from the producers.

By the IMARC Group, Some of the Top Competitive Landscape Operating in the Palm Oil Market Report are Given Below:

• 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
• PT. Bakrie Sumatera Plantations tbk
• Sime Darby Plantation Berhad
• United Plantations Berhad
• Univanich Palm Oil Public Company Ltd.
o Wilmar International Ltd.

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Global Palm Oil Market Trends:

Changes are being witnessed in the global palm oil market. The most important change is the growing need for sustainable and traceable supply chains. Firms are beginning to use more sophisticated tools, such as blockchain, to increase the transparency of its palm oil supply chains and confirm that it is free from deforestation. Consumer demand and regulations are the major factors that are changing the focus to traceability.

Another notable development is the increasing requirement for specific palm oil derivatives. Such derivatives are designed for particular uses, including high oleic palm oil to enhance oxidative stability, or palm oil fractions with defined melting temperatures. The Industry is trying to create new processing methods to manufacture palm oil products that satisfy the changing requirements of different sectors. In addition, the region is having more processing activities because more refining and processing of palm oil is done in its producing nations.

Key Market Segmentation:

Breakup by Application:

• Household Cooking
• Food & Beverages
• Oleo Chemicals
• Personal Care
• Animal Feed
• Bio-fuel

Household cooking dominates the market

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance
• Market Outlook
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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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.

This release was published on openPR.