Palm Oil Market Report, Share, Size, Trends, Growth, Region and Forecast Till 2024

Global Palm Oil Market Research Report and Forecast 2024

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Report Description Global Palm Oil Market Overview:

According to the latest research report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global palm oil market reached a volume of 77 Million Tons in 2018, expanding at a CAGR of nearly 7% during 2011-2018 . Palm oil refers to edible vegetable oil which is procured from the mesocarp of the fruit of oil palms.

The appearance of palm oil is reddish in color due to the high beta carotene content. Palm oil consumption is associated with numerous health benefits such as improving eye vision, increasing metabolism of the body, boosting the immune system, preventing premature aging and vitamin A deficiency, and reducing the risk of cancer and heart diseases. As a result, palm oil finds wide applications in the domestic and commercial sectors around the world.

Global Palm Oil Market Trends Palm oil softens skin, improves hair growth and is a rich source of vitamin K, owing to which it is used in the manufacturing of cosmetics and personal care products such as soaps, shampoos, waxes, lipsticks and liquid detergents. Apart from this, palm oil is also utilized in the production of cooking oil, margarine, vegetable ghee, confectionary fats, ice creams, non-dairy creamers, salad dressings, agrochemicals, ink, charcoal, animal feed, and paper.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

Report Description

180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

For instance, the European Union and the US Government are offering subsidies to importers in order to promote large-scale imports of palm oil for biofuel production. Looking forward, the global market size is expected to be around 108 Million Tons by 2024, expanding at a CAGR of about 6% during the forecast period (2019-2024).

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Report Description

Its expanding applications in both the food and non-food industries are strengthening the growth of the palm oil industry across the globe. Moreover, governments of various countries are undertaking initiatives to replace fossil fuels with biofuels.

Key Market Segmentation: Market Segmentation by Application • • • • • •

Household Cooking Food & Beverages Oleo Chemicals Personal Care Animal Feed Bio-fuel

Based on applications, the market has been classified into household cooking, food and beverages, oleochemicals, personal care, animal feed and bio-fuel. At present, food and beverages dominate the market, holding the largest share.

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For more information, click here: https://www.imarcgroup.com/palm-oil-processing-plant Market Segmentation by Region • • • • • • •

China North America Western Europe North East Asia South East Asia Middle East & Africa Eastern Europe

Based on geography, North America holds the leading position in the market. Other major regions include China, Western Europe, North East Asia, South East Asia, Middle East and Africa, and Eastern Europe.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

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Report Description • • • • • •

Wilmar International Sime Darby Berhad IOI Corporation Astra Agro Lestari Kuala Lumpur Kepong Berhad Golden Agri

Browse Related Report Organic Baby Food Market Report: https://www.imarcgroup.com/organic-baby-food-market Food Services Market Report: https://www.imarcgroup.com/food-service-market

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