Global Palm Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

The Palm Oil Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The Palm Oil Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global palm oil market report has been segmented on the basis of product, application, and region.

Palm Oil Market Overview:

The Palm Oil Market was valued at $51.1 billion in 2021 & is projected to reach $69.8 billion by 2027. It is expected to grow at a 4.2% CAGR between 2021 and 2027.

Palm oil is a type of edible vegetable oil derived from palm fruit. Palm oil has a longer shelf life as compared to other oils and has a high source of vitamin A.

Palm oil is obtained from tropical trees, and once they are planted, they yield palm fruits over many years, thereby creating employment for rural communities living in emerging countries. Palm trees yield more oil per hectare than any other major oilseed crop, which helps produce palm oil on a large scale with the least investment.

Increasing demand for palm oil owing to its features such as cost-effectiveness and low trans-fat is a key factor expected to drive the growth of the global market over the forecast period.

In addition, the rising adoption of palm oil in bakery products such as biscuits, margarine, and bread, in instant noodles, ice cream, and cosmetics is another factor expected to fuel the growth of the target market.

Furthermore, rising consumer awareness of bio-based cosmetics, surfactants, and lubricants is also expected to support the growth of this market in the near future.

However, increasing environmental concerns are a key factor expected to restrain the growth of the global market over the forecast period. In addition, high production cost due to the adoption of sustainable adoption method is another factor expected to hamper the growth of the target market in the near future.

Technological advancements in manufacturing units and increasing foreign investment in the field of a sustainable way of production are expected to create potential revenue opportunities for players operating in the global palm oil market.

The market in the Asia Pacific dominates the global palm oil market in terms of revenue over the forecast period, owing to increasing demand for palm oil in food and beverages industries and high investment in various countries in the region.

The growth of the market in Europe is driven by high disposable income and increasing social media influence resulting in high demand for expensive cosmetics and personal care products.

In addition, the increasing inclination of men towards cosmetics such as utilizing products such as beard and hair grooming products is fueling the growth of the palm oil market.

The intended audience for this report includes palm oil manufacturers, bio-diesel industry, cosmetics industry, personal care industry, traders, importers, and exporters.

Global palm oil market segmentation:

Segmentation by product:

• Crude palm oil
• Palm kernel oil
• Palm kernel cake
• Others

Segmentation by application:

• Edible oil
• Cosmetics
• Bio-diesel
• Lubricants
• Surfactants
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa