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Palm Oil Market Estimated to Exceed US$ 67.6 Billion Globally By 2028 | CAGR of 4%

Palm Oil Market Estimated to Exceed US$ 67.6 Billion Globally By 2028 | CAGR of 4%

February 06
21:58 2023
Palm Oil Market Estimated to Exceed US$ 67.6 Billion Globally By 2028 | CAGR of 4%
Palm Oil Market
Palm oil is a reddish, edible vegetable oil produced from the mesocarp of oil palm fruits.

According to the latest research report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on palm oil market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global palm oil market size reached US$ 53.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.

Palm oil represents edible vegetable oil produced from the mesocarp of palm. It is available in jars, pouches, cans, bottles, etc. Palm oil variants are a rich source of vitamin A, vitamin E, carotenoids, etc. They help prevent premature aging, reduce the risk of cancer and heart diseases, boost the immunity system, etc. Palm oil products even have a longer shelf-life and are cheaper than other vegetable oils. Consequently, they are in extensive demand across numerous sectors, such as food and beverage (F&B), personal care and cosmetics, energy, etc.

Get a Free Sample Copy of this Report: https://www.imarcgroup.com/palm-oil-processing-plant/requestsample

Market Trends:

The rising awareness about health and wellness among consumers across countries and the shifting preferences toward vegetable oils that have low trans-fat are primarily driving the palm oil market. In addition to this, the growing food industry and the elevating product use to prepare bakery and confectionery items and processed foods are acting as significant growth-inducing factors. Apart from this, the increasing usage of the oil as an effective substitute for petroleum-based products in the transportation and energy segments and as an alternative for mineral oil in power stations for energy production is also positively influencing the market growth. In line with this, the escalating adoption of crude palm oil or CPO in producing biofuels that are highly favored, on account of the heightened environmental concerns and the inflating fuel prices, is further stimulating the market growth. Moreover, the expanding employment of oil to produce cosmetics and personal care items is expected to propel the palm oil market over the forecasted period.

Explore Full Report with Table of Contents: https://www.imarcgroup.com/palm-oil-processing-plant

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 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 (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) 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.

Browse Other Report of IMARC Group:

Enhanced Oil Recovery Market Research Report and Forecast

High Oleic Oil Market Research Report and Forecast

Almond Oil Market Research Report and Forecast

Jojoba Oil Market Research Report and Forecast

North America Jojoba Oil Market Research Report and Forecast

About Us

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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