Global Palm Oil Market Report-By Trade, Revenue and Forecast 2018-2028

Global Palm Oil Market Report-By Trade, Revenue and Forecast 2018-2028

Executive Summary

The global palm oil market is a highly significant segment of the global vegetable oil market. Palm oil is the most widely produced edible oil in the world, with its primary use in the food industry for cooking and as an ingredient in processed foods. It is also used in the production of biofuels, animal feed, and other non-food products.

The major palm oil producing countries are Indonesia and Malaysia, which together account for more than half of global production. Other significant producers include Thailand, Colombia, and Nigeria. The demand for palm oil has increased significantly in recent years due to its versatility and relatively low cost.

In the last 50 years, palm oil production has skyrocketed. Palm oil production peaked in the 1970s at 2 million tones and is now 35 times higher. The demand for sustainably produced palm oil is also driven by industrialized countries' growing concern for clean and green fuels, as well as palm oil's growing use as a feedstock in biofuel production.

Increasing Demand for Plant Based Food: Consumers have been gravitating towards plant-based foods and diets over the past few years. Growing health and environmental concern is the primary factor driving this transformation. Vegans are choosing palm oil in high demand because it is technically compatible for a vegan diet because it is made from plants and contains no animal ingredients.

However, because of the effect that palm oil extraction has on deforestation, habitat destruction, and greenhouse gas emissions, the palm oil business has come under fire from environmental organizations. Owing to this, a lot of businesses have committed to sourcing sustainable palm oil, which is produced without endangering the environment or human rights.

Performance of Segmentation

By Major Producing Countries: Indonesia and Malaysia are the two main producers of palm oil, collectively accounting for more than half of global palm oil production. Nigeria, Papua New Guinea, Thailand, Colombia, and Guatemala are some other major countries that produce palm oil. The world's two biggest producers and exporters of palm oil are, however, Indonesia and Malaysia. These nations' tropical climates are ideal for the development of oil palm plants, which are the source of palm oil.

By Major Consuming Countries: India, the European Union, China, Indonesia, and Malaysia are the top palm oil consumers. The majority of palm oil is consumed in these nations for both food and non-food use. India is the second-largest user of palm oil, followed by China, Europe, Malaysia, and Thailand. Because of rising income, urbanization, and population expansion in many emerging nations, demand for palm oil has been rising significantly in recent years. However, significant attempts to encourage sustainable palm oil production and use have resulted from worries about the environmental and social effects of palm oil extraction.

Future Outlook

The Global Palm Oil Market is expected to grow at a CAGR of 4% from 2023-2028. The future of the palm oil market is expected to be shaped by a combination of factors, including increasing demand from emerging economies, sustainability concerns, and government regulations aimed at mitigating the negative impacts of palm oil production. On the demand side, the global population is projected to continue to grow, and with it, the demand for food and other products that use palm oil as an ingredient. In particular, the use of palm oil for biofuels is expected to increase as countries seek to reduce their dependence on fossil fuels.

Makreo research has published study on Palm Oil Market titled, “Global Palm Oil Market Report – By Trade, Revenue and Forecast 2018-2028”. Market assessment has been carried out using qualitative and quantitative methods and have combined the impact of trade and micro economic scenario. The market has witnessed many shifts in recent past after the COVID-19 outburst & Ban of Export by Indonesia that given a suggest push in the market. Future outlook has been assessed keeping various influencing factors into consideration and also to assess the expected opportunities in the market.

Segmentation Covered:

• By Major Producing Countries: Indonesia, Malaysia, Thailand, Colombia and Nigeria
• By Major Consuming Countries: Indonesia, India, China, Malaysia, Egypt and Others

Key Questions Answered

1. How global pam oil market has performed in the past and what is the expected future growth prospects?

2. At what rate Global palm oil production is growing?

3. What is the production and consumption scenario of Global Palm Oil market?

4. What is the total market revenue of Global Palm oil market?

5. How the production and consumption trends of palm oil in the world?

6. Who are the major importers of palm oil and how these countries are positioned in the Global palm oil market?

7. Who are the major producer of palm oil and what is the production scenario?

8. Who are the major consumer of palm oil and what is the consumption scenario?

9. What are the key areas responsible for market growth in the past and also areas responsible for decline in demand?

10. Which geography/region has a dominance over the palm oil market?