Palm Oil Market Size worth $96.95 Billion By 2030 | CAGR: 5.0%

The global palm oil market size is expected to reach USD 96.95 billion by 2030, according to a new study by Polaris Market Research. The report “Palm Oil Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Conventional); By Product (CPO, Palm Kernel Oil, RBD Palm Oil, Fractionated Palm Oil); By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising production and usage of biofuels using the product are among the major advancements in the sector. The development of new biodiesel industries, particularly in the European Union (EU), is a major driving force behind this. Biodiesel is gaining a lot of traction throughout the world since many countries are looking for alternatives to traditional products due to rising prices, and they also assist in reducing greenhouse gas emissions (GHG).

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During the forecast years, rising demand from developing nations, including India and Indonesia, is expected to be a vital driver of the industry. Furthermore, in wealthy countries, increased discretionary income, as well as high per capita consumption spending on consumer items, are anticipated to bolster the demand in the coming years.

Fractionated segment is anticipated to hold a significant share in the global market over the forecast period. Compared to its counterparts, fractionated type of the product has become relatively prevalent in the food sector, benefiting the segment growth. It is particularly popular in low-income nations since it is widely available and inexpensive to the general public.

Asia Pacific is expected to dominate the global industry due to the increasing production in countries such as Indonesia and Malaysia. Furthermore, rising end-use applications in countries such as China and India are also expected to propel industry growth. North America is anticipated to grow significantly due to the entrance of new market players in the region.

Market players such as ADM, Cargill Inc., Asian Agri, Godrej Agrovet Limited, IJM Corporation Berhad, IOI Corporation Berhad, Golden Agri Resources Limited, Kuala Lumpur Kepong Berhad, Kulim Berhad, Sime Darby, London Sumatra, PT. Bakrie Sumatera Plantations tbk, United Plantations Berhad, and Wilmar International Ltd.

Polaris market research has segmented the palm oil market report based on product, nature, end-use, and region:

Palm Oil, Product Outlook (Revenue - USD Billion, 2018 - 2030)

• CPO
• Kernel Oil
• RBD Oil
• Fractionated Oil

Palm Oil, Nature Outlook (Revenue - USD Billion, 2018 - 2030)

• Organic
• Conventional

Palm Oil, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Personal Care & Cosmetics
• Food & Beverage
• Biofuel & Energy
• Pharmaceuticals
• Others

Palm Oil, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
  • Europe
  • France
  • Germany
  • UK
  • Italy
  • Netherlands
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa