Global Palm Oil Market Trajectory & Analytics Report 2022: U.S. Market is Estimated at $11.9 Billion, While China is Forecast to Reach $11.7 Billion by 2026
Global Market for Palm Oil
Dublin, May 03, 2022 (GLOBE NEWSWIRE) -- The "Palm Oil - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Palm Oil estimated at US$42.8 Billion in the year 2020, is projected to reach a revised size of US$57.2 Billion by 2026, growing at a CAGR of 5% over the analysis period.
Crude Palm Oil, one of the segments analyzed in the report, is projected to grow at a 4.8% CAGR to reach US$34.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Palm Kernel Oil segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Palm Oil market.
The Palm Oil market in the U.S. is estimated at US$11.9 Billion in the year 2021. The country currently accounts for a 26.98% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.7 Billion by the year 2026 trailing a CAGR of 8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach US$12.7 Billion by the end of the analysis period.
Future growth in the market will be driven by growing prominence of certified sustainable palm oil (CSPO) against the backdrop of public concerns over environmental, social, and deforestation issues related to palm oil cultivation. Demand for sustainably produced palm oil is also driven by growing focus of developed nations on clean and green fuel and growing application as a feedstock in biofuel production. The biofuel productivity yield of palm oil is the highest among all oilseed crops and is surpassed only by sugarcane in terms of productivity yield. Other factors driving increasing consumption of palm oil include its attribute of being the cheapest form of vegetable oil; increasing production in Indonesia and Malaysia; growing demand from the food sector for use as margarine, bakery fat, frying fat, and cooking oil; and high yields produced from a hectare of palm oil plantation. Increasing consumer focus on health & wellness along with undesirable effect of partially hydrogenated oils on the cholesterol level is driving food and snack processors to switch towards Trans-fat-free, and GMO-free palm oil.
Select Competitors (Total 88 Featured) -
Fuji Vegetable Oil Inc.
Genting Plantations Berhad
Godrej Agrovet Limited
Golden Agri-Resources Ltd.
PT Smart Tbk
Intercontinental Specialty Fats Sdn. Bhd.
IOI Group Berhad
Kuala Lumpur Kepong Berhad
PT Astra Agro Lestari Tbk
PT Darmex Agro
PT Dharma Satya Nusantara Tbk
PT Indofood Sukses Makmur Tbk
P. T. Musim Mas
PT PP London Sumatra Indonesia Tbk
PT Salim Ivomas Pratama Tbk
Nv Siat sa (Belgium)
Sime Darby Plantation Sdn Bhd
New Britain Palm Oil Ltd.
United Palm Oil Industry Public Company Limited
United Plantations Berhad
Wilmar International Limited
Key Topics Covered:
1. MARKET OVERVIEW
Palm Oil: Current Market Scenario and Outlook
While Developing Regions Constitute Primary Consumers of Palm Oil, Opportunities Remain Moderate in Developed Regions
World Palm Oil Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
Global Palm Oil Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: China, Asia-Pacific, Latin America, Middle East, Africa, Japan, Canada, USA, and Europe
Global Per Capita Palm Oil Consumption (Kilograms) for Major Countries: 2016 & 2020
Global Palm Oil Production and Trade Scenario
Leading Palm Oil Producing Countries Worldwide (2016-2020): Breakdown of Volume Production (in Thousand Metric Tons) for Colombia, Indonesia, Malaysia, Nigeria, Thailand, and Others
Global Palm Oil Exports (in Thousand Metric Tons) by Country: 2020
Global Palm Oil Imports (in Thousand Metric Tons) by Country: 2020
Global Vegetable Oils Production by Type (2016-2020): Breakdown of Volume Production (Million Metric Tons) for Coconut, Cottonseed, Groundnut, Palm Kernel, Palm, Rapeseed, Soybean, and Sunflower Oils
Asian Producers Dominate the Market
Leading Palm Oil Producers Resort to Innovative Strategies to Sustain Competitive Edge
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Food: Largest Application Segment for Palm Oil
Key Applications of Food-Grade Palm Oil
Factors Driving Demand for Edible Palm Oil
Surging Popularity of Convenience Foods among the Ballooning Global Population
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Rising Hostility for GMO Based Oils
Growing Awareness about Nutritional Benefits of Palm Oil
Growing Demand in Industrial Applications Elevates Market Prospects
Bio-Diesel: The New Growth Avenue for Palm Oil
Global Biodiesel Production (Million Tons): 2013, 2015, 2017 & 2019
Average Biofuel Yields of First Generation Feedstock
Growing Prominence of Sustainable Palm Oil to Accelerate Market Demand
Annual Production Capacity for Certified Sustainable Palm Oil and Palm Kernel (in Million MT) for 2010-2017
Leading Producers to Expand Certified Palm Oil Output
Total Certified Palm Oil (CSPO) Production Area (in Million Hectares): 2015-2020
Leading Sustainable Producers of Palm Oil
Leading Palm Oil Traders with Zero Deforestation Commitment: Ranked in order of Number of Zero Deforestation Policies Implemented
Leading Producers of Palm Oil Worldwide: Approximate Percentage Share of Production of RSPO
UNEP Backs RSPO Stand on Conserving Forests
Initiatives Supporting the Development of a Sustainable Palm Oil Industry
Roundtable on Sustainable Palm Oil (RSPO)
Sustainable Palm Oil Investor Working Group (IWG)
Forest Footprint Disclosure Project
The Biodiversity and Agricultural Commodities Program (BACP)
Indonesia Sustainable Palm Oil (ISPO)
High Crop Yield: A Major Factor Promoting Market Expansion
Global Oil Yield (Tons per Hectare) for Major Oilseed Crops
Advanced Equipment & Approaches Come to the Fore to Boost Palm Oil Production & Processing
Remote Sensing Technologies to Potentially Revolutionize Oil Palm Industry
Using Drones for in Oil Palm Farming
Electrical Cutters in Place of Bulky Mechanical Equipment
Novel DNA-based Method for Early Identification of High Yielding Palm Trees
AquaEco-SRORS: An Innovative Filtration System for Raw-Sludge
Research Highlights Need for Improving Ergonomics for Palm Harvesters
List of Common Ailments Associated with MSDs and Risk Factors in Terms of Tasks and Movements
Key Issues & Challenges Confronting the Palm Oil Market
Environmental Concerns Remain Major Impediment
Various Strategies to Address Environmental Issues
Protectionist Methods Adopted by Developed Nations
A Note on Unwanted Consequences of Protectionist Policies
Palm Oil vs. the Cholesterol Controversy
Stiff Competition from Soybean & Other Vegetable Oils
Insect Cooking Oil as an Alternative to Palm Oil
For more information about this report visit https://www.researchandmarkets.com/r/xk38nr
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