Report Code: CMI40053

Published Date: January 2024

Pages: 320+

Category: Food & Beverages

Report Snapshot

CAGR: 4.25%
68.33B
2022
71.23B
2023
103.6B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Agropalma Group
  • Alami Group
  • Archer Daniels Midland
  • Asian Agri
  • Astra Agro Lestari
  • Boustead Holdings Berhad
  • Others

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Reports Description

Global Palm Oil Market was valued at USD 71.23 Billion in 2023 and is expected to reach USD 103.6 Billion by 2032, at a CAGR of 4.25% during the forecast period 2023 – 2032.

Palm oil, derived from the fruit of oil palm trees, is a versatile vegetable oil widely used in various industries worldwide. Its unique composition makes it suitable for diverse applications, including food, cosmetics, pharmaceuticals, and biofuels.

In the food industry, palm oil serves as a key ingredient in cooking oils, margarine, baked goods, and processed foods due to its stability, texture, and flavor profile. It is also utilized in non-food products such as soaps, detergents, candles, and skincare items for its moisturizing properties.

Palm oil is increasingly used in biodiesel production as a renewable and environmentally sustainable alternative to fossil fuels.

Palm Oil Market – Significant Growth Factors

Growing demand for the Plant-Based Food Industry:

The global palm oil market is driven by rising demand for sustainable palm oil products, fueled by growing environmental consciousness and regulatory pressures. For instance, initiatives like the RSPO and partnerships between organizations like Beiersdorf and WWF aim to promote sustainable palm oil production.

As consumer goods giants like Unilever and Nestlé commit to deforestation-free palm oil, the market for sustainably sourced palm oil is expected to expand. The global production of certified sustainable palm oil is projected to grow, with Indonesian palm oil output rising by 2.1 percent to 49.4 million tonnes in 2022.

The surge in plant-based food consumption globally is propelling the palm oil market growth. With consumers opting for healthier and more sustainable dietary choices, the demand for palm oil as a key ingredient in plant-based food products is increasing.

Countries like the USA, China, India, and Japan are witnessing significant growth in plant-based food sales, with the US market alone valued at $7 billion in 2020.

Consumer goods manufacturers such as Unilever, Nestlé, and Mars are adopting science-based net-zero and emissions-reduction targets, emphasizing the need for sustainable palm oil sourcing. For example, Nestlé aims to become deforestation-free by the end of 2022, driving the demand for sustainably produced palm oil.

As companies prioritize environmental sustainability, the market for certified sustainable palm oil is set to expand, creating opportunities for palm oil producers. Stringent environmental regulations and compliance requirements are influencing global palm oil market dynamics.

Initiatives like the European Union Deforestation Regulation (EUDR) and sustainability standards like RSPO certification are shaping market trends. Compliance with these regulations is crucial for market access, driving producers to adopt sustainable practices and certification standards.

Technological innovations in palm oil production processes are enhancing efficiency and sustainability in the industry. Advanced agricultural practices, precision farming techniques, and digital solutions enable producers to optimize yields and minimize environmental impacts.

For instance, projects like the Sustainable and Climate-Friendly Palm Oil Production and Procurement (SCPOPP) project in Thailand leverage technology to train smallholders in sustainable farming practices, fostering market growth.

Growing Use of Palm Oil in Biofuel Production:

The increasing use of palm oil in biofuel production is driving market growth. As countries seek renewable energy alternatives to reduce greenhouse gas emissions, palm oil is emerging as a viable feedstock for biofuel production.

Government policies promoting biofuel usage and renewable energy targets stimulate demand for palm oil in the biofuel sector, contributing to market growth. With the global population projected to reach 9.8 billion by 2050, ensuring food security is paramount.

Palm oil, as an efficient vegetable oil crop, plays a crucial role in meeting global food demand. Its high productivity per unit of land makes it instrumental in addressing food security concerns.

Initiatives promoting sustainable palm oil production, like the Thailand Sustainable Palm Oil Alliance, aim to enhance agricultural practices and production to meet future food security needs.

The growth of palm oil export markets contributes to market growth opportunities. As palm oil producers strive to diversify and penetrate new markets, global trade in palm oil products expands.

Partnerships between producing countries and international organizations facilitate market access and promote sustainable palm oil certification, boosting exports and market revenues. Continued investments in research and development drive innovation and product diversification in the palm oil industry.

Research initiatives focus on enhancing palm oil sustainability, improving extraction processes, and developing value-added products. Collaborations between industry stakeholders, research institutions, and government agencies foster innovation, driving market competitiveness and growth.

Heightened consumer awareness and preference for sustainable products influence market dynamics. Increasingly, consumers seek transparency and ethical sourcing practices in palm oil products, favoring brands committed to sustainability.

Companies responding to consumer demands by offering RSPO-certified sustainable palm oil products gain a competitive edge in the market. Consumer advocacy and education campaigns further drive demand for sustainable palm oil, shaping market trends and growth.

Palm Oil Market – Restraints

Health Concerns and High saturated fat content lead to consumer backlash:

Palm oil production often leads to deforestation, habitat loss, and biodiversity depletion, triggering environmental concerns.

For instance, the EU proposed legislation requiring traceability to plantation/farm plots to curb deforestation linked to palm oil production. Palm oil’s high saturated fat content raises health concerns, leading to consumer backlash and demand for healthier alternatives.

Negative perceptions regarding palm oil’s health effects pose challenges to market acceptance and product formulation in the food industry. Palm oil prices are susceptible to global market trends, weather conditions, and geopolitical factors, causing volatility and uncertainty for producers and buyers alike.

Compliance with sustainability standards like RSPO certification entails significant costs and administrative burdens for producers, particularly smallholders, impacting profitability and market access.

The growth of palm oil plantations often encroaches upon indigenous lands and traditional territories, sparking conflicts and legal disputes over land rights and resource ownership. Palm oil production contributes to greenhouse gas emissions, deforestation, and peatland degradation, exacerbating climate change and environmental degradation.

The growing popularity of alternative vegetable oils like soybean, sunflower, and canola poses competitive challenges for palm oil, compelling producers to innovate and differentiate their products. Import tariffs, trade disputes, and regulatory barriers in key importing countries hinder market access and limit export opportunities for palm oil-producing nations.

The palm oil supply chain is complex and opaque, making it difficult to trace products back to their origin and ensure sustainable sourcing practices throughout the supply chain.

Palm Oil Market –  Opportunities

Government initiatives and investments drive market growth:

With a significant rise in environmental awareness, consumers and corporations are increasingly demanding sustainable palm oil products. For instance, in 2021, the RSPO reported a 13% increase in the uptake of Certified Sustainable Palm Oil (CSPO), with 7.07 million metric tonnes purchased globally.

Governments are implementing schemes to boost palm oil production. For example, India’s National Mission on Edible Oils – Oil Palm aims to increase oil palm cultivation by covering an additional area of 6.5 lakh hectares by 2025-26, potentially reaching 10 lakh hectares.

Companies like BASF are setting sustainability targets, driving the demand for certified sustainable palm oil. BASF achieved its 2021 Palm Commitment by sourcing 227,213 metric tons of certified sustainable palm (kernel) oil, reducing CO2 emissions by over 300,000 metric tons in 2021.

Palm oil consumption is rising in emerging economies like China and India due to economic growth and urbanization. This presents opportunities for market growth and increased palm oil usage in various industries.

Stringent legislation, such as the EU Commission’s proposal for traceability in agri-commodity supply chains, is driving the demand for traceable and deforestation-free palm oil. Companies like GAR are achieving high levels of traceability to meet these requirements.

Global Palm Oil Market 2023–2032 (By Nature)

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Rising Demand in the Cosmetics and Personal Care Industries:

Palm oil and its derivatives are widely used in cosmetics and personal care products. The growing cosmetics market, coupled with the demand for sustainable ingredients, creates opportunities for palm oil producers to supply certified sustainable palm oil to these industries.

Increasing health consciousness is driving the demand for plant-based foods and products. Sales of plant-based foods in the United States alone will surge by 27% in 2021, indicating a lucrative market for palm oil as a key ingredient in plant-based alternatives.

Collaborations between companies and organizations like WWF and &Green are fostering sustainable palm oil production. For instance, &Green invested USD 12 million in PT Hilton Duta Lestari to establish a deforestation-free palm oil supply chain, benefiting up to 85,000 inhabitants. Initiatives aimed at empowering smallholders and improving rural livelihoods in palm oil-producing regions contribute to market growth.

For example, RSPO’s efforts to include more smallholders and provide training in sustainable farming practices lead to increased production and market access. Innovations in agricultural practices and processing technologies enhance productivity and sustainability in palm oil production, making it more attractive for investors and stakeholders.

Palm Oil Market –  Segmentation Analysis;

The global palm oil market is segmented by various applications such as nature, end user, application and region.

Crude Palm Oil (CPO) dominates the palm oil market in 2022 and is expected to grow due to its versatile applications across industries, including food, cosmetics, and biofuels. With increasing demand for sustainable and versatile oils, CPO is expected to continue its dominance.

CPO serves as a key ingredient in cooking oil, margarine, and a wide range of processed food products, contributing to its significant market share. While the edible oil and biodiesel segments also hold substantial shares in the palm oil market, CPO remains the primary driver of industry growth and revenue.

In recent years, the demand for palm oil-based biodiesel has surged, driven by initiatives promoting renewable energy and sustainable fuel sources.

In terms of application, the food industry accounts for the largest share of palm oil consumption, followed by the cosmetics and personal care sectors. Palm oil is widely used in the formulation of skincare products, soaps, and cosmetics due to its moisturizing properties and versatility.

The market is also witnessing growing awareness of sustainability issues and efforts to promote responsible palm oil production and consumption, which could influence consumer preferences and industry dynamics in the coming years.

Overall, the palm oil market is characterized by diverse applications and evolving consumer trends, shaping the trajectory of each segment’s growth and market dominance.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 71.23 Billion
Projected Market Size in 2032 USD 103.6 Billion
Market Size in 2022 USD 68.33 Billion
CAGR Growth Rate 4.25% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Nature, Product Type, End User and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Palm Oil Market –  Regional Insight

In the global palm oil market, Asia Pacific, particularly Indonesia and Malaysia, dominate both in terms of production. Indonesia, the world’s largest palm oil producer, accounted for 46 million tons of crude palm oil (CPO) production in 2021, making it a key player in the market.

Malaysia follows closely, contributing significantly to the global palm oil supply. These countries represent a substantial portion of global palm oil exports, with Indonesia alone exporting over 58% of its production.

The dominance of Asia Pacific in palm oil production is expected to continue in the future due to favorable climatic conditions and extensive plantation areas conducive to oil palm cultivation.

Initiatives such as Indonesia’s commitment to becoming a net carbon sink by 2030 and efforts to enhance sustainability standards in major consuming markets like China and India indicate a concerted push towards more responsible palm oil production practices.

Europe and North America have emerged as significant consumers of palm oil products, particularly in the food, cosmetics, and biofuel industries. These regions also exhibit growing concerns over the environmental and social impacts of palm oil production, leading to regulatory measures and consumer preferences favoring sustainable sourcing practices.

Market dynamics shift as consumers and regulatory bodies in importing regions push for stricter sustainability standards, potentially diversifying palm oil sourcing to other regions or incentivizing more sustainable practices within existing supply chains.

Global Palm Oil Market 2023–2032 (By Billion)

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List of the prominent players in the Palm Oil Market:

  • Agropalma Group
  • Alami Group
  • Archer Daniels Midland
  • Asian Agri
  • Astra Agro Lestari
  • Boustead Holdings Berhad
  • Bunge Loders Croklaan
  • Carotino Group
  • Dekel Oil
  • First Resources Limited
  • Genting Plantations Berhad
  • Golden Agri Resources Ltd
  • Hap Seng Plantations Holdings
  • Hershey Company
  • IJM Corporation Berhad
  • IOI Corporation Berhad
  • Kuala Lumpur Kepong Berhad
  • Kulim Berhad
  • Musim Mas Group
  • Nestlé
  • New Britain Palm Oil Limited
  • Olam Group
  • PT Sampoerna Agro Tbk
  • Bakrie Sumatera Plantations tbk
  • Siat Group of Companies
  • Sime Darby Plantation Berhad
  • Sinar Mas Group
  • Sipef Group
  • Univanich Palm Oil Public Company Ltd.
  • Wilmar International Ltd.
  • Others

Recent Development in Palm Oil Market

  • In October 2023, KTC Edibles Ltd (KTC), the UK’s leading supplier of edible oils, introduced Planet Palm, a new lineup of RSPO-certified sustainable palm oil products tailored for UK bakery and food manufacturers. Initial offerings include Planet Palm Oil, along with specialty items like Planet Palm Cake Margarine, Pastry Margarine, and Shortening, emphasizing traceability and sustainability. The launch aims to challenge palm oil misconceptions and promote sustainable practices.
  • In October 2022, the Roundtable on Sustainable Palm Oil (RSPO) and the Thailand Environment Institute (TEI) unveiled the Thailand Sustainable Palm Oil Alliance (TSPOA) to foster collaboration among stakeholders in Thailand’s palm oil industry. The alliance aims to advance sustainable practices and promote ethical palm oil production nationwide. RSPO CEO Joseph D’Cruz emphasized the importance of global sustainability standards.
  • On March 8, 2022, Malaysian tech firm DiBiz introduced the world’s premier online platform, Trustparent Marketplace, for sustainable palm oil trade, aiming to boost sales of environmentally compliant products. The initiative fosters traceability and upholds “No Deforestation, No Peat, and No Exploitation” standards, addressing challenges in the palm oil industry’s sustainability certification and demand dynamics.

Global Palm Oil Market 2023–2032 (By End User)

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The Palm Oil Market is segmented as follows:

By Nature

  • Organic
  • Conventional

By Product Type

  • CPO
  • RBD Palm Oil
  • Palm Kernel Oil
  • Fractionated Palm Oil
  • Edible Oil
  • Bio-Diesel
  • Lubricants
  • Cosmetics
  • Others

By End User

  • Food & Beverages
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Biofuel & Energy
  • Others End Users

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Palm Oil Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Palm Oil Market: snapshot
  • Chapter 3. Global Palm Oil Market – Industry Analysis
    • 3.1 Palm Oil Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing demand for the Plant-Based Food Industry
      • 3.2.2 Growing Use of Palm Oil in Biofuel Production
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Nature
      • 3.7.2 Market Attractiveness Analysis By Product Type
      • 3.7.3 Market Attractiveness Analysis By End User
  • Chapter 4. Global Palm Oil Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Palm Oil Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Palm Oil Market – Nature Analysis
    • 5.1 Global Palm Oil Market Overview: By Nature
      • 5.1.1 Global Palm Oil Market Share, By Nature, 2022 and – 2033
    • 5.2 Organic
      • 5.2.1 Global Palm Oil Market by Organic, 2024 – 2033 (USD Billion)
    • 5.3 Conventional
      • 5.3.1 Global Palm Oil Market by Conventional, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Palm Oil Market – Product Type Analysis
    • 6.1 Global Palm Oil Market Overview: By Product Type
      • 6.1.1 Global Palm Oil Market Share, By Product Type, 2022 and – 2033
    • 6.2 CPO
      • 6.2.1 Global Palm Oil Market by CPO, 2024 – 2033 (USD Billion)
    • 6.3 RBD Palm Oil
      • 6.3.1 Global Palm Oil Market by RBD Palm Oil, 2024 – 2033 (USD Billion)
    • 6.4 Palm Kernel Oil
      • 6.4.1 Global Palm Oil Market by Palm Kernel Oil, 2024 – 2033 (USD Billion)
    • 6.5 Fractionated Palm Oil
      • 6.5.1 Global Palm Oil Market by Fractionated Palm Oil, 2024 – 2033 (USD Billion)
    • 6.6 Edible Oil
      • 6.6.1 Global Palm Oil Market by Edible Oil, 2024 – 2033 (USD Billion)
    • 6.7 Bio-Diesel
      • 6.7.1 Global Palm Oil Market by Bio-Diesel, 2024 – 2033 (USD Billion)
    • 6.8 Lubricants
      • 6.8.1 Global Palm Oil Market by Lubricants, 2024 – 2033 (USD Billion)
    • 6.9 Cosmetics
      • 6.9.1 Global Palm Oil Market by Cosmetics, 2024 – 2033 (USD Billion)
    • 6.10 Others
      • 6.10.1 Global Palm Oil Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Palm Oil Market – End User Analysis
    • 7.1 Global Palm Oil Market Overview: By End User
      • 7.1.1 Global Palm Oil Market Share, By End User, 2022 and – 2033
    • 7.2 Food & Beverages
      • 7.2.1 Global Palm Oil Market by Food & Beverages, 2024 – 2033 (USD Billion)
    • 7.3 Personal Care & Cosmetics
      • 7.3.1 Global Palm Oil Market by Personal Care & Cosmetics, 2024 – 2033 (USD Billion)
    • 7.4 Pharmaceuticals
      • 7.4.1 Global Palm Oil Market by Pharmaceuticals, 2024 – 2033 (USD Billion)
    • 7.5 Biofuel & Energy
      • 7.5.1 Global Palm Oil Market by Biofuel & Energy, 2024 – 2033 (USD Billion)
    • 7.6 Other End Users
      • 7.6.1 Global Palm Oil Market by Other End Users, 2024 – 2033 (USD Billion)
  • Chapter 8. Palm Oil Market – Regional Analysis
    • 8.1 Global Palm Oil Market Regional Overview
    • 8.2 Global Palm Oil Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Palm Oil Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Palm Oil Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Palm Oil Market, by Nature, 2024 – 2033
      • 8.4.1 North America Palm Oil Market, by Nature, 2024 – 2033 (USD Billion)
    • 8.5 North America Palm Oil Market, by Product Type, 2024 – 2033
      • 8.5.1 North America Palm Oil Market, by Product Type, 2024 – 2033 (USD Billion)
    • 8.6 North America Palm Oil Market, by End User, 2024 – 2033
      • 8.6.1 North America Palm Oil Market, by End User, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Palm Oil Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Palm Oil Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Palm Oil Market, by Nature, 2024 – 2033
      • 8.8.1 Europe Palm Oil Market, by Nature, 2024 – 2033 (USD Billion)
    • 8.9 Europe Palm Oil Market, by Product Type, 2024 – 2033
      • 8.9.1 Europe Palm Oil Market, by Product Type, 2024 – 2033 (USD Billion)
    • 8.10 Europe Palm Oil Market, by End User, 2024 – 2033
      • 8.10.1 Europe Palm Oil Market, by End User, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Palm Oil Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Palm Oil Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Palm Oil Market, by Nature, 2024 – 2033
      • 8.12.1 Asia Pacific Palm Oil Market, by Nature, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Palm Oil Market, by Product Type, 2024 – 2033
      • 8.13.1 Asia Pacific Palm Oil Market, by Product Type, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Palm Oil Market, by End User, 2024 – 2033
      • 8.14.1 Asia Pacific Palm Oil Market, by End User, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Palm Oil Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Palm Oil Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Palm Oil Market, by Nature, 2024 – 2033
      • 8.16.1 Latin America Palm Oil Market, by Nature, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Palm Oil Market, by Product Type, 2024 – 2033
      • 8.17.1 Latin America Palm Oil Market, by Product Type, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Palm Oil Market, by End User, 2024 – 2033
      • 8.18.1 Latin America Palm Oil Market, by End User, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Palm Oil Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Palm Oil Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Palm Oil Market, by Nature, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Palm Oil Market, by Nature, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Palm Oil Market, by Product Type, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Palm Oil Market, by Product Type, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Palm Oil Market, by End User, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Palm Oil Market, by End User, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Agropalma Group
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Alami Group
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Archer Daniels Midland
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Asian Agri
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Astra Agro Lestari
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Boustead Holdings Berhad
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Bunge Loders Croklaan
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Carotino Group
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Dekel Oil
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 First Resources Limited
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Genting Plantations Berhad
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Golden Agri Resources Ltd
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Hap Seng Plantations Holdings
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Hershey Company
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 IJM Corporation Berhad
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 IOI Corporation Berhad
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
    • 9.17 Kuala Lumpur Kepong Berhad
      • 9.17.1 Overview
      • 9.17.2 Financials
      • 9.17.3 Product Portfolio
      • 9.17.4 Business Strategy
      • 9.17.5 Recent Developments
    • 9.18 Kulim Berhad
      • 9.18.1 Overview
      • 9.18.2 Financials
      • 9.18.3 Product Portfolio
      • 9.18.4 Business Strategy
      • 9.18.5 Recent Developments
    • 9.19 Musim Mas Group
      • 9.19.1 Overview
      • 9.19.2 Financials
      • 9.19.3 Product Portfolio
      • 9.19.4 Business Strategy
      • 9.19.5 Recent Developments
    • 9.20 Nestlé
      • 9.20.1 Overview
      • 9.20.2 Financials
      • 9.20.3 Product Portfolio
      • 9.20.4 Business Strategy
      • 9.20.5 Recent Developments
    • 9.21 New Britain Palm Oil Limited
      • 9.21.1 Overview
      • 9.21.2 Financials
      • 9.21.3 Product Portfolio
      • 9.21.4 Business Strategy
      • 9.21.5 Recent Developments
    • 9.22 Olam Group
      • 9.22.1 Overview
      • 9.22.2 Financials
      • 9.22.3 Product Portfolio
      • 9.22.4 Business Strategy
      • 9.22.5 Recent Developments
    • 9.23 PT Sampoerna Agro Tbk
      • 9.23.1 Overview
      • 9.23.2 Financials
      • 9.23.3 Product Portfolio
      • 9.23.4 Business Strategy
      • 9.23.5 Recent Developments
    • 9.24 PT. Bakrie Sumatera Plantations tbk
      • 9.24.1 Overview
      • 9.24.2 Financials
      • 9.24.3 Product Portfolio
      • 9.24.4 Business Strategy
      • 9.24.5 Recent Developments
    • 9.25 Siat Group of Companies
      • 9.25.1 Overview
      • 9.25.2 Financials
      • 9.25.3 Product Portfolio
      • 9.25.4 Business Strategy
      • 9.25.5 Recent Developments
    • 9.26 Sime Darby Plantation Berhad
      • 9.26.1 Overview
      • 9.26.2 Financials
      • 9.26.3 Product Portfolio
      • 9.26.4 Business Strategy
      • 9.26.5 Recent Developments
    • 9.27 Sinar Mas Group
      • 9.27.1 Overview
      • 9.27.2 Financials
      • 9.27.3 Product Portfolio
      • 9.27.4 Business Strategy
      • 9.27.5 Recent Developments
    • 9.28 Sipef Group
      • 9.28.1 Overview
      • 9.28.2 Financials
      • 9.28.3 Product Portfolio
      • 9.28.4 Business Strategy
      • 9.28.5 Recent Developments
    • 9.29 Univanich Palm Oil Public Company Ltd.
      • 9.29.1 Overview
      • 9.29.2 Financials
      • 9.29.3 Product Portfolio
      • 9.29.4 Business Strategy
      • 9.29.5 Recent Developments
    • 9.30 Wilmar International Ltd.
      • 9.30.1 Overview
      • 9.30.2 Financials
      • 9.30.3 Product Portfolio
      • 9.30.4 Business Strategy
      • 9.30.5 Recent Developments
    • 9.31 Others.
      • 9.31.1 Overview
      • 9.31.2 Financials
      • 9.31.3 Product Portfolio
      • 9.31.4 Business Strategy
      • 9.31.5 Recent Developments
List Of Figures

Figures No 1 to 32

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Agropalma Group
  • Alami Group
  • Archer Daniels Midland
  • Asian Agri
  • Astra Agro Lestari
  • Boustead Holdings Berhad
  • Bunge Loders Croklaan
  • Carotino Group
  • Dekel Oil
  • First Resources Limited
  • Genting Plantations Berhad
  • Golden Agri Resources Ltd
  • Hap Seng Plantations Holdings
  • Hershey Company
  • IJM Corporation Berhad
  • IOI Corporation Berhad
  • Kuala Lumpur Kepong Berhad
  • Kulim Berhad
  • Musim Mas Group
  • Nestlé
  • New Britain Palm Oil Limited
  • Olam Group
  • PT Sampoerna Agro Tbk
  • Bakrie Sumatera Plantations tbk
  • Siat Group of Companies
  • Sime Darby Plantation Berhad
  • Sinar Mas Group
  • Sipef Group
  • Univanich Palm Oil Public Company Ltd.
  • Wilmar International Ltd.
  • Others

FAQs

Health Concerns and High saturated fat content lead to consumer backlash is a major restraint in the Global Palm Oil market.

Growing demand for the Plant-Based Food Industry is a major driver in the Global Palm Oil market.

The “CPO” category dominated the market in 2022.

The key players in the market are Agropalma Group, Alami Group, Archer Daniels Midland, Asian Agri, Astra Agro Lestari, Boustead Holdings Berhad, Bunge Loders Croklaan, Carotino Group, Dekel Oil, First Resources Limited, Genting Plantations Berhad, Golden Agri Resources Ltd, Hap Seng Plantations Holdings, Hershey Company, IJM Corporation Berhad, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad, Kulim Berhad, Musim Mas Group, Nestlé, New Britain Palm Oil Limited, Olam Group, PT Sampoerna Agro Tbk, PT. Bakrie Sumatera Plantations tbk, Siat Group of Companies, Sime Darby Plantation Berhad, Sinar Mas Group, Sipef Group, Univanich Palm Oil Public Company Ltd., Wilmar International Ltd. , Others.

“Asia Pacific” had the largest share in the Palm Oil Market.

The global market is projected to grow at a CAGR of 4.25% during the forecast period, 2023-2032.

The Palm Oil Market size was valued at USD 71.23 Billion in 2023.

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