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Report Overview

The Latin America palm oil market attained a value of USD 4.47 Billion as of 2024 and is anticipated to grow at a CAGR of 5.20% during the forecast period of 2025 to 2034. The Latin America palm oil industry is spurred on by growing biodiesel production as nations such as Colombia and Brazil increasingly require blending with biofuels, leading to increased demand for sustainable palm oil as a substitute energy resource. The market is thus expected to reach a value of nearly USD 7.42 Billion by 2034.

2024

Base Year

2018-2024

Historical Period

2025-2034

Forecast Period

  • Latin America's RSPO-certified sustainable palm oil output is increasing, with the largest producer in Latin America being Colombia. Businesses that invest in RSPO-certified palm oil can benefit from increasing worldwide demand for responsible, environmentally conscious palm oil products.

  • In 2023, the demand for palm oil in Colombia was estimated at over one million metric tons, with that of Brazil at about 930,000 metric tons. This growing demand presents a buoyant market in which suppliers and processors can come in and anchor or expand their presence, thereby increasing the growth of the Latin America palm oil market.

  • The imports of palm oil in Mexico are expected to hit 560,000 metric tons in 2023, exceeding local production of 235,000 metric tons. Such import dependency provides room for traders and exporters to cover the demand gap and develop trade relationships.

Compound Annual Growth Rate

Value in USD Billion

5.2%

2025-2034


Latin America Palm Oil Market Outlook

*this image is indicative*

Latin America Palm Oil Market Growth

The Latin America palm oil market is witnessing rapid growth, stimulated by increasing biodiesel production requirements and growing sustainable palm oil certification schemes. Nations such as Brazil and Colombia are raising biofuel blending targets, stimulating demand for palm oil as a major feedstock. The trend has helped players such as Daabon Group, one of the major palm oil producers in Colombia, increase its biofuel business to cater to increasing domestic and export demand, thereby bolstering the palm oil demand.

In addition, increasing demand for RSPO-certified sustainable palm oil has propelled profitability for major players. Firms that invest in sustainable and ethical palm oil production, like Agropalma in Brazil, have opened themselves to high-end markets in North America and Europe. Colombia alone produced more than 1.7 million metric tons of palm oil in 2023, with a huge percentage being of sustainable standards, as stated by the Roundtable on Sustainable Palm Oil (RSPO). These trends allow firms to capture greater margins and achieve long-term trade relationships.

Latin America Palm Oil Market

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Key Trends and Recent Developments

Latin America Palm Oil Market Trends

A key emerging trend in Latin American palm oil is regenerative palm farming. Farmers are using agroforestry and carbon sequestration methods to revitalize depleted lands and improve production. Leaders among these nations are Colombia and Ecuador, blending palm oil estates with indigenous forest species to enhance biodiversity and soil health. Companies embracing regenerative farming practices enjoy the support of sustainability-driven investors and high-margin buyers in North America and Europe, thereby prospering the trends in the Latin America palm oil market.

Diversification into specialty palm oil derivatives is another defining trend. Over and above typical crude palm oil, Latin American producers are increasing production of specialized derivatives such as red palm oil, tocotrienols, and structured fat for nutraceuticals and cosmetics. It allows firms to earn better margins and diversify away from crude palm oil exports.

Latin America Palm Oil Market By Segments

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Latin America Palm Oil Industry Segmentation

The EMR’s report titled “Latin America Palm Oil Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Application

  • Foods
  • Consumer Products
  • Energy

Market Breakup by Countries

  • Brazil
  • Ecuador
  • Colombia
  • Mexico
  • Guatemala

Latin America Palm Oil Market Share

The market for Latin America palm oil is gaining momentum in the food, consumer goods, and energy industries because of changing consumer taste, sustainability efforts, and government policies. Palm oil is used extensively in baked foods, confectionery, and processed foods in the food industry owing to its longer shelf life and inexpensive nature.As per Latin America palm oil market analysis, certified sustainable palm oil (CSPO) is growing in demand since global companies increasingly emphasize ethical purchasing and sustainable business practices.

Within the consumer industry, palm derivatives are used mainly in cosmetics, personal care products, and domestic applications. According to the Latin America palm oil industry analysis, given a growing penchant for eco- and botanical-derived formulations, there is a migration toward sustainable, palm-derived ingredients by companies. The energy sector is also on the rise, specifically in biodiesel made from palm oil, due to biofuel requirements in Brazil and Colombia to curb carbon emissions and foster energy security.

Competitive Landscape

Key Latin America palm oil market players are emphasizing sustainability, supply chain transparency, and biofuel growth. They are investing in RSPO-certified palm oil, green processing, and biodiesel production to align with international sustainability objectives. Latin America palm oil companies are also strengthening traceability systems to comply with international regulations and consumer requirements for ethical sourcing. Further fortifying their market base and profitability is expansion into value-added palm oil derivatives for use in food, cosmetics, and industrial uses.

Wilmar International Ltd

Wilmar International Ltd, founded in 1991 and based in Singapore, provides sustainable palm oil, palm kernel oil, and specialty fats in Latin America. RSPO-certified products, supply chain traceability, and biofuel uses are emphasized by the company to satisfy increasing regional and international demand.

Cargill, Incorporated

Cargill, Incorporated, established in 1865 and headquartered in Minnesota, United States, provides palm oil for food, beverage, and personal care markets in Latin America. The organization focuses on sustainability, ethical sourcing, and refining capacity while growing its presence in palm-based biofuels.

Bunge Limited

Bunge Limited, founded in 1818 and based in Missouri, United States, supplies palm oil for edible oils, food processing, and industrial use. The company combines responsible procurement, sustainability initiatives, and palm oil by-products, adhering to environmental and regulatory requirements.

Archer Daniels Midland Company

Archer Daniels Midland Company, an Illinois-based 1902 company, supplies refined palm oil, palm fractions, and specialty fats throughout Latin America. Responsible sourcing, sustainable supply chains, and increasing its presence in bio-based industrial and food uses are ADM's priorities.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other key players in the Latin America palm oil market report include Reforestadora de Palmas del Petén SA (REPSA), among others.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the Latin America palm oil market reached an approximate value of USD 4.47 Billion.

The market is assessed to grow at a CAGR of 5.20% between 2025 and 2034.

The major drivers of the industry include rising disposable incomes, increasing population, and the increasing health consciousness.

The introduction of green policies by governments is expected to be a key trend guiding the growth of the industry.

Colombia, Ecuador, Brazil, Mexico, and Guatemala, among others, are the leading regions in the market.

The major application sectors of the product are foods products, consumer products, and energy.

The leading players in the market are Wilmar International Ltd., Cargill, Incorporated, Bunge Limited, Archer Daniels Midland Company, and Reforestadora de Palmas del Petén S.A. (Grupo HAME), among others.

The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 7.42 Billion by 2034.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • Region
Breakup by Application
  • Food Products
  • Consumer Products
  • Energy
Breakup by Region
  • Brazil
  • Ecuador
  • Colombia
  • Mexico
  • Guatemala
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Supplier Selection
  • Key Global Players
  • Key Regional Players
  • Key Player Strategies
  • Company Profiles
Companies Covered
  • Wilmar International Ltd
  • Cargill, Incorporated
  • Bunge Limited
  • Archer Daniels Midland Company
  • Reforestadora de Palmas del Petén S.A. (Grupo HAME)
  • Others
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