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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Application |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 2023, the market reached an approximate value of USD 183.58 million.
The market is estimated to grow at a CAGR of 3.70% between 2024 and 2032.
The palm oil market in Peru is estimated to witness a healthy growth during 2024-2032 to reach around USD 255.56 million by 2032.
The market is being driven due to growing domestic demand for palm oil, rising focus on sustainability, and optimisation of the supply chain.
The key trends aiding the market include technological innovations in the production and distribution of palm oil and a focus on vertical integration by companies.
Based on application, market segmentations include food products and consumer products, among others.
Ucayali is the largest palm-producing region in Peru.
The major players in the market are Grupo Palmas and Grupo Romero, among others.
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