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The Asia Pacific region accounts for a substantial palm oil market share. The Asia Pacific region is home to the world's largest palm oil producers, notably Indonesia and Malaysia, which together account for the majority of global palm oil production. The availability and accessibility of palm oil in these countries significantly contribute to its high demand.
The region's rapidly growing population and economic development led to increased demand for edible oils, including palm oil. As economies grow, there is a rise in consumption levels and changes in dietary patterns, often leading to greater consumption of processed and packaged foods that commonly use palm oil.
Palm oil is widely used in the food sector as a cooking oil and an ingredient in a vast array of products, from snacks and baked goods to instant noodles and confectionery. Its versatility, cost-effectiveness, and functional properties, such as oxidative stability and texture, make it a preferred choice for food manufacturers.
Beyond the food sector, there is a growing demand for palm oil in industrial applications, including biofuels (particularly biodiesel), personal care products, and cosmetics. The biofuel sector, in particular, has seen significant growth in the Asia Pacific, driven by government mandates and policies supporting biofuel usage.
Palm Oil Market Regional Analysis
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Market Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Vegetable Oil Market Overview
8.1 Key Industry Highlights
8.2 Global Vegetable Oil Historical Market (2018-2023)
8.3 Global Vegetable Oil Market Forecast (2024-2032)’
8.4 Global Vegetable Oil Market by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East & Africa
9 Global Palm Oil Market Analysis
9.1 Key Industry Highlights
9.2 Global Palm Oil Historical Market (2018-2023)
9.3 Global Palm Oil Market Forecast (2024-2032)
9.4 Global Palm Oil Market by Application
9.4.1 Food Products
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2023)
9.4.1.3 Forecast Trend (2024-2032)
9.4.2 Consumer Products
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2023)
9.4.2.3 Forecast Trend (2024-2032)
9.4.3 Energy
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2023)
9.4.3.3 Forecast Trend (2024-2032)
9.5 Global Palm Oil Market by Region
9.5.1 Market Share
9.5.1.1 North America
9.5.1.2 Europe
9.5.1.3 Asia Pacific
9.5.1.4 Latin America
9.5.1.5 Middle East and Africa
10 Regional Analysis
10.1 North America
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Market by Country
10.1.3.1 United States of America
10.1.3.2 Canada
10.2 Europe
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Market by Country
10.2.3.1 United Kingdom
10.2.3.2 Germany
10.2.3.3 France
10.2.3.4 Italy
10.2.3.5 Others
10.3 Asia Pacific
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Market by Country
10.3.3.1 China
10.3.3.2 Japan
10.3.3.3 India
10.3.3.4 ASEAN
10.3.3.5 Australia
10.3.3.6 Others
10.4 Latin America
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.4.3 Market by Country
10.4.3.1 Brazil
10.4.3.2 Argentina
10.4.3.3 Mexico
10.4.3.4 Others
10.5 Middle East and Africa
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.5.3 Market by Country
10.5.3.1 Saudi Arabia
10.5.3.2 United Arab Emirates
10.5.3.3 Nigeria
10.5.3.4 South Africa
10.5.3.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Analysis (HS Code- 2309)
13.1 Major Exporting Countries by Value & Volume
13.2 Major Importing Countries by Value & Volume
14 Price Analysis
14.1 North America Historical Price Trends (2018-2023) & Forecast (2024-2032)
14.2 Europe Historical Price Trends (2018-2023) & Forecast (2024-2032)
14.3 Asia Pacific Historical Price Trends (2018-2023) & Forecast (2024-2032)
14.4 Latin America Historical Price Trends (2018-2023) & Forecast (2024-2032)
14.5 Middle East & Africa Historical Price Trends (2018-2023) & Forecast (2024-2032)
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Wilmar International Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cargill, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Bunge Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Archer Daniels Midland Company
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 PT Astra Agro Lestari Tbk
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 FGV Holdings Berhad
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Sime Darby Plantation Berhad.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Kuala Lumpur Kepong Berhad
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 RGE Pte Ltd
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Musim Mas Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 IOI Corporation Berhad
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Golden Agri-Resources Ltd
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Detailed Process Flow
1.2 Operations Involved
1.3 Mass Balance
2 Cost Analysis
2.1 Land, Location & Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Vegetable Oil Market: Key Industry Highlights, 2018 and 2032
2. Global Vegetable Oil Historical Market: Breakup by Region (Million Tons), 2018-2023
3. Global Vegetable Oil Market Forecast: Breakup by Region (Million Tons), 2024-2032
4. Global Palm Oil Market: Key Industry Highlights, 2018 and 2032
5. Global Palm Oil Historical Market: Breakup by Application (Million Tons), 2018-2023
6. Global Palm Oil Market Forecast: Breakup by Application (Million Tons), 2024-2032
7. Global Palm Oil Historical Market: Breakup by Region (Million Tons), 2018-2023
8. Global Palm Oil Market Forecast: Breakup by Region (Million Tons), 2024-2032
9. North America Palm Oil Historical Market: Breakup by Country (Million Tons), 2018-2023
10. North America Palm Oil Market Forecast: Breakup by Country (Million Tons), 2024-2032
11. Europe Palm Oil Historical Market: Breakup by Country (Million Tons), 2018-2023
12. Europe Palm Oil Market Forecast: Breakup by Country (Million Tons), 2024-2032
13. Asia Pacific Palm Oil Historical Market: Breakup by Country (Million Tons), 2018-2023
14. Asia Pacific Palm Oil Market Forecast: Breakup by Country (Million Tons), 2024-2032
15. Latin America Palm Oil Historical Market: Breakup by Country (Million Tons), 2018-2023
16. Latin America Palm Oil Market Forecast: Breakup by Country (Million Tons), 2024-2032
17. Middle East and Africa Palm Oil Historical Market: Breakup by Country (Million Tons), 2018-2023
18. Middle East and Africa Palm Oil Market Forecast: Breakup by Country (Million Tons), 2024-2032
19. Major Importing Countries by Volume
20. Major Exporting Countries by Volume
21. Major Importing Countries by Value
22. Major Exporting Countries by Value
23. North America Historical Price Trends and Forecast 2018-2032
24. Europe Historical Price Trends and Forecast 2018-2032
25. Asia Pacific Historical Price Trends and Forecast 2018-2032
26. Latin America Historical Price Trends and Forecast 2018-2032
27. Middle East and Africa Historical Price Trends and Forecast 2018-2032
28. Global Palm Oil Market Structure
In 2023, the global palm oil market attained a volume of almost 78.76 MMT.
In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 2.8%.
By 2032, the market is estimated to reach a volume of 100.98 MMT
The major drivers of the market growth include rising disposable incomes, increasing population, increasing demand from the food sector, rising health consciousness, and growing demand for biofuel.
The growing shift from trans-fat to healthier alternatives and the rising adoption of biofuels in countries across the globe are the key trends in the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The food sector accounts the largest market share of 71% among other application sectors.
The key players in the market include Wilmar International Ltd., Cargill, Incorporated, Bunge Limited, Archer Daniels Midland Company, PT Astra Agro Lestari Tbk, FGV Holdings Berhad, Sime Darby Plantation Berhad., Kuala Lumpur Kepong Berhad, RGE Pte Ltd, Musim Mas Group, IOI Corporation Berhad, and Golden Agri-Resources Ltd, among others.
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