Palm Oil Market 2024 | Size, Share, Trends and Forecast 2032
The Reports and Insights, a leading market research company, has recently releases report titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Palm Oil Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Palm Oil Market?
The global palm oil market size reached
US$ 65.2 Billion in 2023. Looking forward, Reports and Insights expects the
market to reach US$ 99.43 Billion by 2032, exhibiting a growth rate (CAGR) of
4.8% during 2024-2032.
What is Palm Oil?
Palm oil is a vegetable oil found in approximately 60% of all
packaged products. It has gained popularity in various industries due to its
unique properties, such as its semi-solid state at room temperature, resistance
to oxidation, and long shelf life. These characteristics make it suitable for a
wide range of applications, including food products, cleaning agents,
cosmetics, and biofuels. It is a crucial ingredient in many processed foods,
such as margarine, baked goods, and snacks, contributing to its prevalence in
the global food supply chain.
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What are
the growth prospects and trends in the Palm Oil industry?
The Palm Oil market
growth is driven by increasing use in processed foods,
baked goods, and snacks due to its stability and texture-enhancing qualities.
It is a key ingredient in many household products such as margarine, cooking
oil, and various food items, contributing to its high demand. Furthermore, the
increasing global population and changing dietary patterns have fueled the
demand for palm oil. Additionally, as a source of biodiesel, palm oil is
utilized in the production of renewable energy, meeting the growing demand for
sustainable alternatives to traditional fossil fuels. Furthermore, many
companies and consumers are now advocating for and supporting certification
systems, such as the roundtable on sustainable palm oil to ensure that it is
produced in an environmentally and socially responsible manner. Overall,
the palm oil market growth is growing because
of its versatility and widespread application in various industries, changing
consumption patterns, and demand for sustainable alternatives in the biofuel
sector.
What is included in market segmentation?
The report has segmented the market into the
following categories:
By Nature:
·
Organic
·
Convеntional
By Product Type:
·
Crudе Palm Oil
·
RBD Palm Oil
·
Palm Kеrnеl Oil
·
Fractionatеd Palm Oil
By End-Use:
·
Food & Bеvеragе
·
Pеrsonal Carе & Cosmеtics
·
Biofuеl & Enеrgy
·
Pharmacеuticals
·
Othеrs
By Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East
Who are the key players operating in the
industry?
The report covers the major market players
including:
- ADM
- Wilmar Intеrnational Ltd.
- Simе Darby Plantation
- IOI Corporation
- Kuala Lumpur Kеpong Bеrhad
- Unitеd Plantations Bеrhad
- Kulim (Malaysia) Bеrhad
- IJM Corporation Bеrhad
- PT Sampoеrna Agro, Tbk
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