Palm Oil Global Market Report 2024

Description

“Palm Oil Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on palm oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for palm oil? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The palm oil market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Wilmar International Ltd; Sime Darby Plantation Berhad; IOI Corporation Berhad; Kuala Lumpur Kepong Berhad;
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Palm oil is an edible vegetable oil extracted from palm fruits, serving as both a moisturizing solution and a cooking ingredient for healthy recipes. Additionally, it finds applications in detergents, cosmetics, biodiesel, and various culinary products.

The primary types of palm oil include crude palm oil and RBD (refined, bleached, and deodorized) palm oil. Crude palm oil is an edible oil obtained from the pulp of palm fruit, produced through methods that can be either organic or conventional. These oils are utilized across diverse industries such as food and beverage, personal care and cosmetics, biofuel and energy, pharmaceuticals, and industrial processes.

The palm oil market research report is one of a series of new reports from The Business Research Company that provides palm oil market statistics, including palm oil industry global market size, regional shares, competitors with a palm oil market share, detailed palm oil market segments, market trends and opportunities, and any further data you may need to thrive in the palm oil industry. This palm oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed in the historical period can be attributed to factors such as the rise in the global population, increased industrialization in food processing, economic development in emerging markets, the versatility of applications, consumer demand for processed foods, and the impact of 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 anticipated growth in the forecast period can be attributed to factors such as global biofuel policies, increasing demand for sustainable and certified palm oil, alternative uses in non-food industries, regulatory measures addressing deforestation concerns, and shifts in culinary preferences. Major trends expected in the forecast period encompass the implementation of certification programs, a focus on transparency and traceability, research and development for sustainable varieties, collaboration across the supply chain, and technological innovations in plantation practices.

The palm oil market is anticipated to experience growth driven by the increasing demand from the biofuel industry. Biofuel, derived from organic matter or biomass, includes fuel produced from palm oil through the transesterification process, where the oil is converted into biodiesel. Palm oil is a favored feedstock for biodiesel due to its high yield and widespread availability, contributing to improved air quality. Notably, the International Energy Agency projects a 28% growth in global biofuel demand, equivalent to 41 billion liters, from 2021 to 2026. Hence, the surge in biofuel demand is a key driver for the palm oil market.

The palm oil market is poised for growth with the rise in global trade. Global trade involves the exchange of goods, services, and capital across borders, benefiting palm oil producers by expanding their customer base and reducing reliance on specific markets. This dynamic fosters market stability, economic growth, job creation, and increased sectoral investment in producing countries. A report by the United Nations Conference on Trade and Development predicts a 2.4% increase in maritime trade in 2023, with continued growth from 2024 to 2028. This trend contributes to the upward trajectory of the palm oil market by promoting broader international trade.

Technological advancements emerge as a prominent trend in the palm oil market, with major companies incorporating new technologies to enhance supply chain efficiency and maintain market leadership. Unilever plc, a UK-based consumer goods company focusing on sustainable palm oil, exemplifies this by implementing SAP blockchain technology in a pilot project to verify the origin of its palm oil. This initiative aims to revolutionize transparency, traceability, and sustainability in palm oil production, involving small-scale producers from the countries of origin.

Innovative product development, such as bioengineered palm oils, is a strategy employed by major companies to expand their customer base, drive sales, and increase revenue in the palm oil market. Bioengineered palm oil, derived from genetically modified or engineered oil palm trees, offers a sustainable alternative. C16 Biosciences, a US-based oil and fats-producing company, launched Palmless in November 2022. Palmless, produced through sustainable fermentation, provides a responsible alternative to traditional palm oil sourcing, addressing environmental concerns associated with agricultural practices.

In October 2021, Cargill, a US-based company in the palm oil sector, collaborated with JDE Peet, a Netherlands-based beverages company, with a focus on supporting independent smallholders toward sustainable oil palm production in Indonesia.

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 .

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

The countries covered in the palm oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The palm oil market consists of sales of palm kernel oil, and fractionated palm oil. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11215

1. Executive Summary

2. Palm Oil Market Characteristics

3. Palm Oil Market Trends And Strategies

4. Palm Oil Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Palm Oil Market Size and Growth

5.1. Global Palm Oil Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Palm Oil Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Palm Oil Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Palm Oil Market Segmentation

6.1. Global Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Crude Palm Oil
RBD Palm Oil
6.2. Global Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Organic
Conventional
6.3. Global Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Food And Beverage
Personal Care And Cosmetics
Biofuel And Energy
Pharmaceutical
Industrial

7. Palm Oil Market Regional And Country Analysis

7.1. Global Palm Oil Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Palm Oil Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Palm Oil Market

8.1. Asia-Pacific Palm Oil Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Palm Oil Market

9.1. China Palm Oil Market Overview
9.2. China Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Palm Oil Market

10.1. India Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Palm Oil Market

11.1. Japan Palm Oil Market Overview
11.2. Japan Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Palm Oil Market

12.1. Australia Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Palm Oil Market

13.1. Indonesia Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Palm Oil Market

14.1. South Korea Palm Oil Market Overview
14.2. South Korea Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Palm Oil Market

15.1. Western Europe Palm Oil Market Overview
15.2. Western Europe Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Palm Oil Market

16.1. UK Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Palm Oil Market

17.1. Germany Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Palm Oil Market

18.1. France Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Palm Oil Market

19.1. Italy Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Palm Oil Market

20.1. Spain Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Palm Oil Market

21.1. Eastern Europe Palm Oil Market Overview
21.2. Eastern Europe Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Palm Oil Market

22.1. Russia Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Palm Oil Market

23.1. North America Palm Oil Market Overview
23.2. North America Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Palm Oil Market

24.1. USA Palm Oil Market Overview
24.2. USA Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Palm Oil Market

25.1. Canada Palm Oil Market Overview
25.2. Canada Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Palm Oil Market

26.1. South America Palm Oil Market Overview
26.2. South America Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Palm Oil Market

27.1. Brazil Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Palm Oil Market

28.1. Middle East Palm Oil Market Overview
28.2. Middle East Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Palm Oil Market

29.1. Africa Palm Oil Market Overview
29.2. Africa Palm Oil Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Palm Oil Market, Segmentation By Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Palm Oil Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Palm Oil Market Competitive Landscape And Company Profiles

30.1. Palm Oil Market Competitive Landscape
30.2. Palm Oil Market Company Profiles
- 30.2.1. Wilmar International Ltd
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Sime Darby Plantation Berhad
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. IOI Corporation Berhad
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Kuala Lumpur Kepong Berhad
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. United Plantations Berhad
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Palm Oil Market Competitive Benchmarking

32. Global Palm Oil Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Palm Oil Market

34. Palm Oil Market Future Outlook and Potential Analysis

34.1 Palm Oil Market In 2028 - Countries Offering Most New Opportunities
34.2 Palm Oil Market In 2028 - Segments Offering Most New Opportunities
34.3 Palm Oil Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer