Palm Oil Market Global Industry Analysis by Share, Key Company, Trends, Size, Emerging Technologies, Growth Factors, And Regional Forecast To 2023
The global palm oil market is predicted to expand at 7.6% CAGR over the forecast period (2017-2023) owing to its extensive demand in several applications such as bio-diesel, cooking, lubricants, and more, asserts Market Research Future (MRFR). One of the most nutritious edible oil, palm oil is derived from palm fruit. Palm fruit is originally from the Western African region but can easily flourish where rainfall and heat are in abundance.
Global Key Players and Competition Analysis
Some of the prominent players operating the global palm oil market are Golden Agri Resources Limited (Singapore), Godrej Agrovet Limited (India), IOI Corp. (Malaysia), Sime Darby (Malaysia), Cargill Inc. (U.S.), Wilmar International Limited (Singapore), Kulim BHD (Malaysia), London Sumatra (Indonesia), and more.
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Globally, the market for palm oil has been segmented based on application, type, and region. By mode of application, the global palm oil market has been segmented into cosmetics, cooking oil, lubricant, bio-diesel, and others. The cooking oil is predicted to dominate the market over the assessment period. On the other hand, cosmetic segment is also expected to showcase a high
Geographically, the Palm Oil Market spans across regions namely Europe, North America, Asia Pacific, and Rest-of-the-World. Among all the regions, Asia Pacific is predicted to dominate the market and is witnessed to showcase a substantial growth over the assessment period owing to the growing consumption of palm oil in several industries. Malaysia and Indonesia being the major exporters and producers of palm fruit in this region.
Palm oil is also used as feedstock for producing biodiesel in the biofuels market and as an alternative to mineral oils in power stations which is further stimulating the market growth to a large extent. Additionally, government initiatives concerning the blending of bio-based fuel with conventional fuel along with growing use of products as a bio-based diesel are set to gain traction in the global market over the assessment period. Consumers are also aware of lubricants, bio-based cosmetics, and surfactants which is propelling the market growth.
Browse the market data and information spread across 110 pages with 20 data tables and 14 figures of the report “Global Palm Oil Market Research Report- Forecast till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/palm-oil-market-5235
More than 90 institutional investors representing $6.7 trillion in assets under management have written to the Roundtable on Sustainable Palm Oil (RSPO) calling on it to strengthen its green certification standards for palm oil production. In a letter sent to the RSPO and made publicly available, investors raised concerns over the relevance and effectiveness of the multi-stakeholder certification body, which aims to boost sustainability standards across the palm oil industry.
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