The palm oil global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Palm Oil Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The palm oil market size has grown steadily in recent years. It will grow from $63.92 billion in 2023 to $66.99 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to rise in global population, industrialization in food processing, economic development in emerging markets, versatility in applications, consumer demand for processed foods, trade liberalization..
The palm oil market size is expected to see steady growth in the next few years. It will grow to $81.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to global biofuel policies, sustainable and certified palm oil demand, alternative uses in non-food industries, regulatory measures on deforestation, shifts in culinary preferences.. Major trends in the forecast period include certification programs, transparency and traceability, r&d for sustainable varietie, collaboration across the supply chain, technological innovations in plantation practices..
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Scope Of Palm Oil Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Palm Oil Market Overview
Market Drivers –
Increasing demand from the biofuel industry is expected to propel the growth of the palm oil market going forward. Biofuel is the same as any type of fuel that is produced from biomass, also known as organic matter. Biofuel can be produced from palm oil through a process called transesterification, in which the oil is converted into biodiesel, palm oil is a popular feedstock for biodiesel production due to its high yield and availability, which improves air quality. For instance, in 2021, according to the International Energy Agency, a France-based autonomous intergovernmental organization, global demand for biofuels is expected to grow by 41 billion litres, or 28%, over 2021-2026. Therefore, increasing demand from the biofuel industry is driving the growth of the palm oil market.
Market Trends –
Technological advancements are the key trend gaining popularity in the palm oil market. Major companies operating in the palm oil market are introducing new technologies for the efficient supply of palm oil products and sustain their position in the market. For instance, in March 2022, Unilever plc, a UK-based consumer goods company with a focus on sustainable palm oil, has launched a pilot project that utilizes SAP blockchain technology to verify the origin of its palm oil. The implementation of this initiative has the potential to revolutionize the transparency, traceability, and sustainability of palm oil production. Furthermore, this project enables the involvement of small-scale producers from the countries of origin, enhancing the sustainability of the supply chain.
The palm oil market covered in this report is segmented –
1) By Product: Crude Palm Oil, RBD Palm Oil
2) By Nature: Organic, Conventional
3) By End Use: Food And Beverage, Personal Care And Cosmetics, Biofuel And Energy, Pharmaceutical, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the palm oil market in 2023. North America is expected to be the fastest-growing region in the palm oil market report during the forecast period. The regions covered in the palm oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the palm oil market report are Wilmar International Ltd, Sime Darby Plantation Berhad, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad,, United Plantations Berhad, Kulim Berhad, PP London Sumatra Indonesia, The Archer-Daniels-Midland Company, Asian Agri, Cargill Inc., Godrej Agrovet Limited, Golden Agri Resources Limited, IJM Corporation Berhad, Boustead Plantations, Asiatic Development Berhad, PT Sampoerna Agro Tbk, Univanich Palm Oil Public Company Ltd., PT. Bakrie Sumatera Plantations tbk, Musim Mas Group, Astra Agro Lestari Tbk, Genting Plantations Berhad, Felda Global Ventures Holdings Berhad, First Resources Limited, PT Astra Agro Lestari Tbk, Darmex Agro Group, Salim Ivomas Pratama Tbk, Sipef, Bumitama Agri Ltd., PT Dharma Satya Nusantara Tbk, Fuji Oil Holdings .
Table of Contents
1. Executive Summary
2. Palm Oil Market Report Structure
3. Palm Oil Market Trends And Strategies
4. Palm Oil Market – Macro Economic Scenario
5. Palm Oil Market Size And Growth
…..
27. Palm Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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