Palm Oil Global Market Report 2023: Sector to Reach $67.6 Billion by 2028 at a 4.11% CAGR

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global palm oil market size reached US$ 53.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 67.6 Billion by 2028, exhibiting a CAGR of 4.11% during 2022-2028.

Originating from West-Africa, palm oil is an edible vegetable oil produced from the mesocarp of the fruit of oil palms. It is the world's highest yielding oil crop, with output 5-10 times higher per hectare than other leading vegetable oil crops. It offers numerous nutritional benefits since it is cholesterol-free, easy to digest and rich in carotenoids, as well as Vitamin A. It also has a longer shelf-life and is cheaper than other vegetable oils available in the market.

Palm Oil Industry Trends:

Palm oil offers several health benefits that help in enhancing energy levels, preventing premature aging, improving eye vision, boosting the immune system, and reducing the risk of cancer and heart diseases. The increasing awareness regarding these health benefits among consumers is one of the primary factors contributing to the market growth.

Furthermore, the thriving food industry is driving the product demand as it is extensively utilized for frying and as a key ingredient in the preparation of healthy food recipes. Apart from this, palm oil is readily replacing petroleum-based products as an effective alternative in the transportation and energy industries. It is also employed as a substitute for mineral oil in power stations for energy production.

Moreover, initiatives undertaken by governments of various countries, such as Denmark and other western European nations, along with awareness campaigns by the World Health Organization to curb trans-fat consumption, are envisaged to boost the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global palm oil market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.

Breakup by Application:

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

Household cooking represents the largest application segment for palm oil, since it is one of the most cost effective edible oils avaliable in the market.

Regional Insights:

• India
• Indonesia
• China
• European Union
• Malaysia
• Others

Region-wise, Indonesia exhibits a clear dominance in the market, owing to government support for the promotion of palm oil-based biodiesel.

Competitive Landscape:
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

• Wilmar International Limited
• Sime Darby Berhad
• IOI Corporation Berhad
• PT Astra Agro Lestari Tbk
• Kuala Lumpur Kepong Berhad
• Golden Agri-Resources Ltd.

Key Questions Answered in This Report

1. What was the size of the global palm oil market in 2022?
2. What is the expected growth rate of the global palm oil market during 2023-2028?
3. What are the key factors driving the global palm oil market?
4. What has been the impact of COVID-19 on the global palm oil market?
5. What is the breakup of the global palm oil market based on the application?
6. What are the key regions in the global palm oil market?
7. Who are the key players/companies in the global palm oil market?


Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Edible Oil Industry

6 Global Palm Oil Industry

7 Performance of Key Regions

8 Market Breakup by Application

9 Competitive Landscape

10 Palm Oil Manufacturing Process

11 Project Details, Requirements and Costs Involved

12 Loans and Financial Assistance

13 Project Economics

14 Key Player Profiles

Companies Mentioned

• Wilmar International Limited
• Sime Darby Berhad
• IOI Corporation Berhad
• PT Astra Agro Lestari Tbk
• Kuala Lumpur Kepong Berhad
• Golden Agri-Resources Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/klx1sn-oil-market?w=5

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SOURCE Research and Markets