Press release
Palm Oil Market Projected to Hit USD 90.1 Billion by 2032 | Persistence Market Research Report
Palm Oil Market
Leading Segment and Region: The fractionated palm oil segment is set to dominate, holding a 38.6% market share in 2025 due to its rising use in premium food products. Regionally, Asia Pacific will lead with a 59.4% share in 2025, with Indonesia as the most prominent producer due to its vast plantations and favorable climatic conditions.
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Key Highlights of the Palm Oil Market
The fractionated segment will hold 38.6% market share in 2025, driven by demand for premium bakery and confectionery products.
The food and beverage industry will account for 61.8% market share in 2025 due to the affordability of palm oil in processed food production.
Indonesia and Malaysia will remain the largest producers, supplying over 85% of the global palm oil demand.
Sustainable production and deforestation-free certification programs will gain traction to address environmental concerns.
Governments worldwide will implement favorable trade policies to boost palm oil imports and exports.
Palm oil demand will rise significantly in biofuel production, particularly in Indonesia and the European Union.
Market Segmentation
By Product Type
The market is segmented into crude palm oil, fractionated palm oil, and palm kernel oil. Among these, fractionated palm oil is gaining popularity due to its superior functional properties and its increasing use in confectionery and bakery products.
By End-use Industry
The food and beverage industry dominates the market, accounting for 61.8% of total demand. Palm oil is widely used in snacks, instant noodles, and frozen foods. The cosmetics and personal care segment is also witnessing steady growth, with palm oil derivatives like glycerin and stearic acid being key ingredients in skincare and haircare products.
Regional Insights
Asia Pacific
The Asia Pacific region dominates the palm oil market, with Indonesia leading the global supply. In 2023, Indonesia produced 47 million tons of crude palm oil, accounting for 54% of worldwide exports. Palm oil is a significant contributor to Indonesia's GDP, representing 4.5% of the economy.
Middle East & Africa
Countries like Nigeria and Ghana are strengthening their palm oil production. Nigeria recently signed an MoU with Indonesia to accelerate palm oil production and improve income for small-scale farmers.
Market Dynamics
Market Drivers
Rising demand from food corporations and biofuel producers seeking cost-effective raw materials.
Growing adoption in cosmetics and personal care industries due to its moisturizing properties.
Government support and free trade agreements facilitating market expansion.
Market Restraints
Fluctuating palm oil prices due to supply chain disruptions and adverse weather conditions.
Rising consumer awareness of health concerns related to high saturated fat content in palm oil.
Environmental concerns and deforestation issues leading to stricter sustainability regulations.
Market Opportunities
Expansion of sustainable palm oil certifications to attract environmentally conscious consumers.
Technological advancements in oil extraction methods improving efficiency and yield.
Increased investments in biodiesel production, boosting palm oil demand in renewable energy sectors.
Reasons to Buy the Report
✔ Comprehensive insights into market size, trends, and forecasts
✔ In-depth analysis of regional market dynamics
✔ Coverage of key players and competitive strategies
✔ Examination of market drivers, restraints, and opportunities
✔ Insights into sustainability initiatives and regulatory landscape
Company Insights
Key Players in the Market
Wilmar International Ltd.
Sime Darby Plantation Berhad
Kuala Lumpur Kepong Berhad (KLK)
IOI Corporation Berhad
Musim Mas Holdings
Golden Agri-Resources Ltd.
Cargill, Incorporated
PT Astra Agro Lestari Tbk
Recent Industry Developments
November 2024: The first shipment of RSPO-Identity Preserved (IP) Certified Sustainable Palm Oil reached Shanghai Port, signaling a milestone for China's market.
March 2024: India launched its first integrated oil palm processing unit in Arunachal Pradesh, marking a step toward edible oil self-reliance.
The palm oil market is poised for steady growth, driven by rising food industry demand, sustainable production initiatives, and expanding biodiesel applications. However, companies must navigate price volatility, environmental concerns, and regulatory challenges to sustain long-term profitability.
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At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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