According to the latest research report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global palm oil market trends reached US$ 48.10 Billion in 2020. Palm oil is a reddish, edible vegetable oil produced from the mesocarp of oil palm fruits. As compared to other oils, it is a rich source of antioxidants, vitamin E, and carotene. Other than this, palm oil remains stable at high temperatures, which makes it ideal for deep frying applications. It is free from trans-fatty acids as it does not go through the hydrogenation process that generates high amounts of trans fats that can cause various health problems. Palm oil is used in the production of numerous food items and various consumer goods, such as soaps, cosmetics, candles and detergents.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Palm Oil Market Trends:
The escalating demand for palm oil owing to its extensive applications in manufacturing processed food items, such as confectioneries and bakery products, is primarily driving the market growth. Moreover, the expanding food service sector is further catalyzing the use of palm oil across hotels, cafes, restaurants, etc., thereby augmenting the market growth. Additionally, various fatty acid derivatives of palm oil are utilized to produce soaps, detergents, greases, lubricants, candles, etc., which is acting as another significant growth-inducing factor. Apart from this, the growing adoption of palm oil as a feedstock for manufacturing biofuels is also bolstering the market growth. Looking forward, the global palm oil market to grow at a CAGR of 4.4% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Wilmar International Limited
- Sime Darby Berhad
- IOI Corporation Berhad
- Astra Agro Lestari
- Kuala Lumpur Kepong Berhad
- Golden Agri-Resources Ltd
Palm Oil Market Segmentation:
Our report has categorized the market based on region and application.
Breakup by Application:
- Household Cooking
- Food & Beverages
- Oleo Chemicals
- Personal Care
- Animal Feed
- Bio-fuel
Regional Insights:
- India
- Indonesia
- China
- European Union
- Malaysia
- Others
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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