Peru Palm Oil Market Report and Forecast 2024-2032

Peru Palm Oil Market Size

The Peru palm oil market reached approximately USD 183.58 million in 2023. The market is projected to grow at a CAGR of 3.70% between 2024 and 2032, reaching a value of around USD 255.56 million by 2032.

Peru Palm Oil Market Outlook

• As per the industry report in 2022, Chile, Ecuador, Indonesia, Malaysia, and Italy were some of the biggest importers of palm oil to Peru.

• There are around 7000 families that run small-scale palm oil farms and a majority of them exist in Ucayali, the largest palm oil-producing region in the country.

• Sustainable production of palm oil in Peru can greatly reduce deforestation and preserve biodiversity.

Peru Palm Oil Market Growth

Growing domestic demand for palm oil, rising focus on sustainability, and optimisation of the supply chain are some of the major factors bolstering the market growth. The demand for palm oil is rising in the food sector due to its growing usage for frying and sauteing purposes as it remains stable under high temperatures. It is also finding growing applications in biofuel as it is considered as one of the most effective raw materials for second-generation biofuels.

There is a surge in the demand for sustainably sourced palm oil due to the impact of palm oil sourcing on biodiversity. A report by the Environmental Investigation Agency (EIA) states that around 13,000 hectares of forest in the Loreto and Ucayali regions were cleared by the palm oil and cacao companies between 2012 to 2021, creating an urgent demand for sustainable palm oil production.

Technological innovations in the production and distribution of palm oil are a crucial trend aiding the Peru palm oil market development. For instance, improvements in machinery and the implementation of eco-efficient production measures can increase the oil yield and mitigate the environmental impact of its production process. Moreover, companies can streamline their supply chain to cut down on costs, enhance their profitability, and gain a competitive edge in the market. Several companies are also focusing on vertical integration through which they intend to foresee every single step of the supply chain from cultivation, and production, to distribution to reduce their dependency on third-party suppliers for better supply management.

Peru Palm Oil Industry Segmentation

“Peru Palm Oil Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Application

• Food Products

• Consumer Products

• Others

Leading Companies in Peru Palm Oil Market

The market players are introducing novel production and processing technologies to boost the supply of palm oil.

• Grupo Palmas

• Grupo Romero

• Others

Key Highlights of the Report