Palm Oil Market

Global Palm Oil Market by Product Types (Organic and Conventional), By Forms (Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, and Fractionated Palm Oil), By End-Use (Food and Beverage, Personal Care and Cosmetics, Biofuel and Energy, Pharmaceutical, and Industrial), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)

  • Report ID: FB-154
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 12
  • No. Of Pages: 215
  • Format:
  • Pub. Date: 2020-11-11
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Market Outlook:

The global palm oil market was valued at USD 44,712.0 Million in 2019 and is projected to reach USD 102,362.0 Million by 2030, expanding at a CAGR of 5.6% during the forecast period. Palm oil is an edible vegetable oil obtained from the fruit of oil palm trees. The scientific name of the oil palm tree is Elaeis guineensis. Generally, two types of palm oil are produced; crude, derived from the fleshy fruit and palm kernel, derived from the kernel or the stone of the fruit. Palm oil is a versatile oil and has many different properties and functions, which makes it a widely used oil. Palm oil is semi-solid at room temperature. It is resistant to oxidation, which provides long shelf-life of products. It is widely used for frying application in the food industry, as it is stable at high temperatures, which helps it to maintain the crispy and crunchy texture of the food. This odorless and slight yellow colored oil does not alter the look and smell of the food.

Global Palm Oil Market Key Takeaways

Oil palm trees are native to Africa but were brought to South-East Asia as an ornamental tree crop around 100 years ago. Presently, Indonesia and Malaysia are major producers of palm oil. They export palm oil to various countries across the globe. In the countries in Asia and Africa, palm oil is widely used for cooking. Major applications of palm oil is in the food & beverages industry and biofuel & energy applications. The oil is extensively used in the cosmetics industry and personal care products. Palm oil is an important and multipurpose vegetable oil, which is used as a raw material in food and non-food industries.

Market Dynamics
Drivers
Increasing Preference for Organic Products Creating Growth Prospects

The growth of the global palm oil market is attributed to the expansion of the organic farming industry and growing consumer preferences for organic products. Several nations adopting organic farming by implementing regulations and standards. This significantly boosts the demand for organic food products, especially in North America and Europe, where sales of food products reached nearly 90% of total organic food consumption. Additionally, the demand for organic food in the counties in North America and Europe is growing, thus propelling the demand for organic products such as palm oil. Moreover, increasing demand is encouraging retailers to make organic food products available in conventional stores. Two big supermarkets, Woolworths and Coles, are now selling a broad variety of organic products, thus improving the convenience of buyers. Thus, driving the growth of the global palm oil market during the forecast period.

Palm Oil Replacing Less Healthy Fats in Foods Products
The demand for palm oil is growing steadily. Palm oil is being utilized in a wide range of food products that are being made available in supermarket shelves. Palm oil is odorless and high in yield; therefore, it is a majorly consumed vegetable oil worldwide. Palm oil is used in a large number of food and consumer goods akin to corn and soybeans. Additionally, rising consumer usage of the oil and recent mandates for biodiesel worldwide propel the demand for palm oil. This oil is the main ingredient in nearly 50% of all processed food products, as it offers various health benefits such as improved metabolism, decreased risk of cancer & cardiovascular disease, and ability to slow down degenerative neurological diseases.

Restrains
Government Measures to Curb Palm Oil Production due to Carbon Emissions

Expanding palm plantations requires the clearing of large swaths of rainforest, which results in long-term environmental damage. Palm oil has been and continues to be a significant cause of deforestation in some of the world's most bio diverse forests, destroying habitats for endangered species such as Pygmy Elephant, Orangutan, and Sumatran Rhino. This forest destruction, combined with the conversion of carbon-rich peat soils, causes the emission of large quantities of greenhouse gases into the atmosphere and leads to climate changes; therefore, several governments are compelling players to follow a private sustainable approach for palm oil production. This, in turn, has caused several problems for small- and medium-sized players.

Palm Oil Prices Higher than those of Refined Oils and Volatility in Prices
Oil palm has much lower production costs per tons of oil than annual oilseeds such as soya, rapeseed, and sunflower. Soybean processors benefited from high credits from the selling of their food production. Large palm oil producers estimate all planting costs from tree planting to replacement to monitor yearly variability on the basis of tree age and weather. Moreover, high costs associated with the production and processing of palm oil are anticipated to hamper the global palm oil market during the forecast period. Additionally, volatility in prices of agricultural commodities is expected to hinder the production of palm kernels, resulting in price fluctuations of palm oil and related products.

Segmental Outlook

On the basis of types, the market is segmented into organic and conventional. The conventional segment is expected to hold a significant share of the market and is projected to expand at a substantial CAGR during the forecast period. Rising use of organic palm oil for household and commercial cooking applications such as frying and manufacturing of baked goods and snack foods is anticipated to propel the segment growth.

Global Palm Oil Market By Product Type

On the basis of forms, the palm oil market is segmented into crude palm oil, RBD palm oil, palm kernel oil, and fractionated palm oil. The crude palm oil segment is expected to hold a significant share of the market, while the palm kernel oil segment is projected to expand at a considerable CAGR during the forecast period. Crude palm oil is widely used oil for cooking applications. Refined, bleached, and deodorized (RBD) palm oil is widely used for frying applications and manufacturing of margarine, vanaspathy, and ice creams; whereas, palm kernel oil is suitable for commercial cooking applications. These are some of the factors, which contributes for the growth of the segment.

Global Palm Oil Market By Form

Based on end-use, the palm oil market is divided into food & beverage, personal care & cosmetics, biofuel & energy, pharmaceutical, and industrial. The biofuel & energy segment is expected to hold a significant share of the market, while the food & beverage segment is projected to expand at a substantial CAGR during the forecast period. Increasing usage of palm oil in the food and beverages industry is a major factor propelling the market during the forecast period. Moreover, growing awareness among consumers regarding the positive health benefits of palm oil encourages end-use industries to use palm oil in its products.

Regional Outlook

In terms of regions, the global Palm Oil market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted one third share in 2020. The market in the Asia Pacific is projected to expand at a CAGR of 5.7% during the forecast period. Presence of key manufacturers in the region is one of the factors, which constitutes for the significant share of the market. Rising adoption of palm oils in the food and beverage industry has led to the rise in the export of palm oil from the region. This is one of the factors, which constitutes for the growth of the palm oil market in Asia Pacific.

Global Palm Oil Market By Region

Competitive Landscape

  • Key players in the market include Wilmar International Ltd, IOI Corporation Berhard, Golden Agri-Resources Ltd., Sime Darby Berhad, Kuala Lumpur Kepong Berhad, United Plantation Berhard, PT PP London Sumatara, Socfin Group, QL Resources Berhard, Bumitara Agri Limited, PT Salim Ivomas Pratama Tbk (SIMP), PT. Mahkota Group, Tbk, Genting Coporation Bernard, FGV Holdings Berhad, and TSH Resources Berhad. These companies are considered manufacturers of palm oil market based on their revenue, regional presence, and supply chain management system.
  • The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for palm oil.
  • For instance, In December 2019, Wilmar International Ltd acquired Wilmar International Ltd to expand its presence in Australia, New Zealand, Papua New Guinea, and the Pacific Islands.

Global Palm Oil Market By Key Players

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Palm Oil Market
  • Historical, Current and Projected Market Size in terms of Value
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Palm Oil Market Performance

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Palm Oil Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Palm Oil Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Palm Oil Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Customers
   4.4 Key Forces Shaping the Palm Oil Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Palm Oil Market Size & Forecast, 2017-2030
      4.5.1 Palm Oil Market Size and Y-o-Y Growth
      4.5.2 Palm Oil Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Product Type , 2017-2030
   4.7 Global Edible Oil Industry Overview, 2019
   4.8 Trade Flow Overview of Palm Oil: Crude vs. Fractions
   4.9 Major Palm Oil Consuming Companies & Sustainable Sourcing Commitments Overview
Chapter 5 Global Palm Oil Market Analysis and Forecast By Product Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Type
      5.1.2 Basis Point Share (BPS) Analysis By Product Type
      5.1.3 Absolute $ Opportunity Assessment By Product Type
   5.2 Palm Oil Market Size & Volume Forecast By Product Type
      5.2.1 Organic
      5.2.2 Conventional
   5.3 Market Attractiveness Analysis By Product Type
Chapter 6 Global Palm Oil Market Analysis and Forecast By Form
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Form
      6.1.2 Basis Point Share (BPS) Analysis By Form
      6.1.3 Absolute $ Opportunity Assessment By Form
   6.2 Palm Oil Market Size & Volume Forecast By Form
      6.2.1 Crude Palm Oil
      6.2.2 RBD Palm Oil
      6.2.3 Palm Kernel Oil
      6.2.4 Fractionated Palm Oil
   6.3 Market Attractiveness Analysis By Form
Chapter 7 Global Palm Oil Market Analysis and Forecast By End Use
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By End Use
      7.1.2 Basis Point Share (BPS) Analysis By End Use
      7.1.3 Absolute $ Opportunity Assessment By End Use
   7.2 Palm Oil Market Size & Volume Forecast By End Use
      7.2.1 Food & Beverage
      7.2.2 Personal Care & Cosmetics
      7.2.3 Biofuel & Energy
      7.2.4 Pharmaceutical
      7.2.5 Industrial
   7.3 Market Attractiveness Analysis By End Use
Chapter 8 Global Palm Oil Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Palm Oil Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region

Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Palm Oil Analysis and Forecast
   10.1 Introduction
   10.2 North America Palm Oil Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Palm Oil Market Size & Volume Forecast By Product Type
      10.6.1 Organic
      10.6.2 Conventional
   10.7 Basis Point Share (BPS) Analysis By Product Type 
   10.8 Absolute $ Opportunity Assessment By Product Type 
   10.9 Market Attractiveness Analysis By Product Type
   10.10 North America Palm Oil Market Size & Volume Forecast By Form
      10.10.1 Crude Palm Oil
      10.10.2 RBD Palm Oil
      10.10.3 Palm Kernel Oil
      10.10.4  Fractionated Palm Oil
   10.11 Basis Point Share (BPS) Analysis By Form
   10.12 Absolute $ Opportunity Assessment By Form
   10.13 Market Attractiveness Analysis By Form
   10.14 North America Palm Oil Market Size & Volume Forecast By End Use
      10.14.1 Food & Beverage
      10.14.2 Personal Care & Cosmetics
      10.14.3 Biofuel & Energy
      10.14.4 Pharmaceutical
      10.14.5 Industrial
   10.15 Basis Point Share (BPS) Analysis By End Use
   10.16 Absolute $ Opportunity Assessment By End Use
   10.17 Market Attractiveness Analysis By End Use
Chapter 11 Europe Palm Oil Analysis and Forecast
   11.1 Introduction
   11.2 Europe Palm Oil Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Palm Oil Market Size & Volume Forecast By Product Type
      11.6.1 Organic
      11.6.2 Conventional
   11.7 Basis Point Share (BPS) Analysis By Product Type 
   11.8 Absolute $ Opportunity Assessment By Product Type 
   11.9 Market Attractiveness Analysis By Product Type
   11.10 Europe Palm Oil Market Size & Volume Forecast By Form
      11.10.1 Crude Palm Oil
      11.10.2 RBD Palm Oil
      11.10.3 Palm Kernel Oil
      11.10.4  Fractionated Palm Oil
   11.11 Basis Point Share (BPS) Analysis By Form
   11.12 Absolute $ Opportunity Assessment By Form
   11.13 Market Attractiveness Analysis By Form
   11.14 Europe Palm Oil Market Size & Volume Forecast By End Use
      11.14.1 Food & Beverage
      11.14.2 Personal Care & Cosmetics
      11.14.3 Biofuel & Energy
      11.14.4 Pharmaceutical
      11.14.5 Industrial
   11.15 Basis Point Share (BPS) Analysis By End Use
   11.16 Absolute $ Opportunity Assessment By End Use
   11.17 Market Attractiveness Analysis By End Use
Chapter 12 Asia Pacific Palm Oil Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Palm Oil Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Palm Oil Market Size & Volume Forecast By Product Type
      12.6.1 Organic
      12.6.2 Conventional
   12.7 Basis Point Share (BPS) Analysis By Product Type 
   12.8 Absolute $ Opportunity Assessment By Product Type 
   12.9 Market Attractiveness Analysis By Product Type
   12.10 Asia Pacific Palm Oil Market Size & Volume Forecast By Form
      12.10.1 Crude Palm Oil
      12.10.2 RBD Palm Oil
      12.10.3 Palm Kernel Oil
      12.10.4  Fractionated Palm Oil
   12.11 Basis Point Share (BPS) Analysis By Form
   12.12 Absolute $ Opportunity Assessment By Form
   12.13 Market Attractiveness Analysis By Form
   12.14 Asia Pacific Palm Oil Market Size & Volume Forecast By End Use
      12.14.1 Food & Beverage
      12.14.2 Personal Care & Cosmetics
      12.14.3 Biofuel & Energy
      12.14.4 Pharmaceutical
      12.14.5 Industrial
   12.15 Basis Point Share (BPS) Analysis By End Use
   12.16 Absolute $ Opportunity Assessment By End Use
   12.17 Market Attractiveness Analysis By End Use
Chapter 13 Latin America Palm Oil Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Palm Oil Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Palm Oil Market Size & Volume Forecast By Product Type
      13.6.1 Organic
      13.6.2 Conventional
   13.7 Basis Point Share (BPS) Analysis By Product Type 
   13.8 Absolute $ Opportunity Assessment By Product Type 
   13.9 Market Attractiveness Analysis By Product Type
   13.10 Latin America Palm Oil Market Size & Volume Forecast By Form
      13.10.1 Crude Palm Oil
      13.10.2 RBD Palm Oil
      13.10.3 Palm Kernel Oil
      13.10.4  Fractionated Palm Oil
   13.11 Basis Point Share (BPS) Analysis By Form
   13.12 Absolute $ Opportunity Assessment By Form
   13.13 Market Attractiveness Analysis By Form
   13.14 Latin America Palm Oil Market Size & Volume Forecast By End Use
      13.14.1 Food & Beverage
      13.14.2 Personal Care & Cosmetics
      13.14.3 Biofuel & Energy
      13.14.4 Pharmaceutical
      13.14.5 Industrial
   13.15 Basis Point Share (BPS) Analysis By End Use
   13.16 Absolute $ Opportunity Assessment By End Use
   13.17 Market Attractiveness Analysis By End Use
Chapter 14 Middle East & Africa (MEA) Palm Oil Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Palm Oil Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Palm Oil Market Size & Volume Forecast By Product Type
      14.6.1 Organic
      14.6.2 Conventional
   14.7 Basis Point Share (BPS) Analysis By Product Type 
   14.8 Absolute $ Opportunity Assessment By Product Type 
   14.9 Market Attractiveness Analysis By Product Type
   14.10 Middle East & Africa (MEA) Palm Oil Market Size & Volume Forecast By Form
      14.10.1 Crude Palm Oil
      14.10.2 RBD Palm Oil
      14.10.3 Palm Kernel Oil
      14.10.4  Fractionated Palm Oil
   14.11 Basis Point Share (BPS) Analysis By Form
   14.12 Absolute $ Opportunity Assessment By Form
   14.13 Market Attractiveness Analysis By Form
   14.14 Middle East & Africa (MEA) Palm Oil Market Size & Volume Forecast By End Use
      14.14.1 Food & Beverage
      14.14.2 Personal Care & Cosmetics
      14.14.3 Biofuel & Energy
      14.14.4 Pharmaceutical
      14.14.5 Industrial
   14.15 Basis Point Share (BPS) Analysis By End Use
   14.16 Absolute $ Opportunity Assessment By End Use
   14.17 Market Attractiveness Analysis By End Use
Chapter 15 Competition Landscape
   15.1 Palm Oil Market: Competitive Dashboard
   15.2 Global Palm Oil Market: Market Share Analysis, 2019
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)

      15.3.1 Wilmar International Limited
      15.3.2 Sime Darby
      15.3.3 IOI Corporation
      15.3.4 Kuala Lumpur Kepong
      15.3.5 United Plantations Berhad
      15.3.6 FGV Holdings Berhard
      15.3.7 PT PP London Sumatara Tbk
      15.3.8 SOCFIN Group
      15.3.9 QL Resources Berhard
      15.3.10 Bumitama Agri Limited
      15.3.11 Genting Plantations Berhard
      15.3.12 PT Salim Ivomas Pratama TbK
      15.3.13 SIPEF NV
      15.3.14 TSH Resources Berhard
      15.3.15 BELEM BIONERGIA  BRASIL

Key Segments Covered
By Types
  • Organic
  • Conventional
By Form
  • Crude palm Oil
  • RBD Palm Oil
  • Palm Kernel Oil
  • Fractionated Palm Oil
By End-Use
  • Food and Beverage
  • Personal Care and Cosmetics
  • Biofuel and Energy
  • Pharmaceutical
  • Industrial
By Region
  • North America
    • US.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Colombia
    • Rest of Latin America
  • Europe
    • Belgium
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of the Europe
  • Asia Pacific
    • Indonesia
    • India
    • China
    • Malaysia
    • Pakistan
    • Thailand
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • Nigeria
    • Egypt
    • Kenya
    • Ghana
    • Rest of MEA

Key Market Players Profiled in the Report
  • Wilmar International Ltd
  • IOI Corporation Berhad
  • Sime Darby
  • Kuala Lumpur Kepong Berhad
  • United Plantation Berhard
  • FGV Holdings Berhad
  • PT PP London Sumatara Indoensia TbK
  • SOCFIN Group
  • QL Resources Berhard
  • Bumitama Agri Limited
  • PT Salim Ivomas Pratama Tbk (SIMP
  • Genting Plantations Berhad
  • TSH Resources Berhard
  • SIPEF NV
  • BELEM BIOENERGIA BRASIL

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the report covers product specific information such as crude oil, palm kernel oil, etc.

According to this Growth Market Reports report, the market from Palm Oil market shall probably to register a CAGR of 5.6% during forecast period 2020-2030, with an anticipated valuation of USD 102,362 million by the end of the 2030.

The rising demand for the palm oil in cosmetic and pharmaceutical industries for the manufacturing of cosmetics, are expected to drive the market growth during forecast period.

Food and beverage industries, cosmetic industries and pharmaceutical industries are the key application that are driving the palm oil market.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The market is expected to project a growth of over 32.0% between 2019 and 2020 owing to the positive impact of COVID-19 pandemic on the palm oil market. The rising adoption of palm oil in the food and beverage companies boost the growth of the segment.

The base year considered for the global palm oil market report is 2019. The complete analysis period is 2017 to 2030, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2030.

Major Manufactures include, Wilmar International Ltd, FGV holdings Behard, Sime Darby are the key players operating in the market.