logo
logo
Sign in

Palm Oil Industry: Understanding Market Dynamics, Trends, and Innovations Driving Growth

avatar
Steve Anderson
Palm Oil Industry: Understanding Market Dynamics, Trends, and Innovations Driving Growth

The global palm oil market size is expected to reach USD 100.4 billion by 2030, expanding at 5.1% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is driven by increasing demand for food applications and eco-friendly, organic, and sustainable products. Personal care products and cosmetic industries are also major sectors accountable for the growth of products. Palm oil is an edible oil that is derived from the mesocarp of the palm fruit. Indonesia and Malaysia are the largest producers as well as exporters of the product globally. It is extensively used in the food, cosmetic, and personal care products industries, among others. Asia pacific region is the largest consumer of palm oil owing to its key application for food preparation in the region.

Palm Oil Market Report Highlights

·        Conventional segment dominated the market with a revenue share of more than 99% in 2023. This is attributable to the low price and easy availability of the segment.

·        Fractionated palm oil dominated the market with a revenue share of over 39.2% in 2023. This is attributable to the ease of availability of product and economically feasible prices.

·        Food & beverages end-use dominated the market with a revenue share of more than 66.5% in 2023. Its high share is attributable to increasing usage of product in end use applications of the industry and increasing product portfolios that demand palm oil as a raw material.

·        Asia Pacific region dominated market with a revenue share of 68.9% in 2023. This is attributed to growing consumption by rising population of the region as well as high demand from end use applications industries, such as food & beverage industries.

For More Details or Sample Copy please visit link @: Palm Oil Market Report

The global product market is amalgamated as well as competitive in nature. It is one of the well-established companies with a developed value chain. Internationally, the product market has a resilient network of distributors, traders, and strong relationships with manufacturers. The overall product market is considered to have an extremely cohesive supply chain and increasing demand for the product for an expansive range of end-use applications comprising biodiesel, food & beverages, and personal care & cosmetics, among others.

Fractionated palm oil product segment appeared to be the largest segment in the international market, accounting for the highest share in 2022 of the global revenue of the market. This segment is the most popular due to its easy economic availability worldwide and manufacturing ease owing to 50% unsaturated and 50% fatty acid constituent nature of palm oil. The segment is expected to expand over the forecast period owing to its extensive utilization by the people.

Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/industry-analysis/palm-oil-market/request/rs15

We segmented the global palm oil market report based on nature, product, end-use and region.

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

 

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: [email protected]

Web: https://www.grandviewresearch.com


collect
0
avatar
Steve Anderson
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more