Global Palm Oil Market by Product (Palm Kernel Oil, Crude, Fractionated, RBD), by Origin (Organic, Conventional) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global palm oil demand was estimated at 74.6 Million Tons in 2019. It is expected to grow by 2.3% volume-based between 2020 and 2027. Market growth will be driven by significant growth in the demand from the end-use sectors and rising consumer awareness about the positive health benefits associated with palm oil.
Asia Pacific countries like Indonesia and Malaysia are the largest producers accounting for over 80% of global production. According to Palm Oil Investigations, palm oil is used in almost half of all consumer products that are sold daily. The demand is driven by rising disposable income and increased per capita spending on consumer products in all geographies.
There are growing concerns about the effects of widespread plantation on the environment. This has led to stricter regulations for plantation in all regions. This will have a negative impact on market growth by reducing the area of plant cultivation and the yield.
The governing bodies launched the Sustainable Palm Oil Production Program (SPOPP), which aims to reduce deforestation and prevent loss of plant diversity. The market has also seen the rise of satellite-based technologies that monitor deforestation. This technology is expected to open up new possibilities for development. The growing focus of manufacturers on sustainable and organic cultivation further accelerates this trend.
Origin Insights
The government of the top palm oil plantation countries, i.e. The governments of Indonesia and Malaysia have a focus on organic and sustainable production. Organic products are in high demand due to consumer awareness about the negative effects of chemical agrochemicals on the environment and human bodies. Organically grown crops are free from any chemical or agrochemicals, right at the point of cultivation through to final packaging. The demand for organic product origins is expected to rise at a profitable rate during the forecast period.
Product Insights
Crude palm oil (CPO), which accounted for 58.3% in total revenue share, was a prominent segment within the palm oil market in 2019. It is closely followed by palm kernel oil(PKO) as the second largest. Market growth is expected to be boosted by an increase in oleochemical production of agrochemicals, and cleaning products over the forecast period.
PKO accounted for 23.0% market share in 2019. This segment is expected to grow in popularity due to its positive properties, such as high saturated fat content and medium chain fatty acid (capric, lauric, and caprylic) content. Its exclusive use in animal feed and biomass will boost product sales over the forecast period.
RBD, fractionated palm oil (Olein & Stearin), and other segments also had significant market share in 2019. The main contributors to the growth are edible oil and meals that are made from them. The growing demand for cooking oils is also being driven by the increasing consumption across all geographies.
End-use Insights
In 2019, the biofuel and energy end use segment represented 15.1% of revenue and is expected to see a substantial growth over the forecast period. This is expected to be due to the growing demand for biofuels in all geographies. The biodiesel has been a popular choice for consumers in recent years as a viable alternative to diesel. Palm oil is the most popular feedstock and is considered an economically viable alternative to soybean. Many policies and mandates have been implemented in different countries since 2020. They are expected to alter the market's end-user trends in the long term. In Indonesia, for instance, the 1 stof January 2020 saw an increase in crude palm oil and diesel mix to 30% (B30). This mandate will likely increase the country's palm oil consumption. France also eliminated the biofuel tax, which would have pushed its economy toward biofuels and biodiesel.
Another important end-user is the food and beverage industry, where palm oil has major applications as an edible oil. Palm oil is an economically viable alternative to cooking oils like those derived from soybean or sunflower. It has high acceptance by food processors, which will help to drive segment growth.
Regional Insights
Five regions are included in the market: North America, Europe and Asia Pacific. Central and South America and Middle East and Africa are also included. As countries such as Indonesia and Malaysia are the main producers, Asia Pacific is the dominant region in terms of production. Imports from Asia Pacific countries are crucial for other regions, such as Europe and North America.
Product demand in Europe and North America is expected to rise due to the increasing penetration of biodiesel by the governments. These regions are expected to see a greater demand for organic palm oils from the food, beverage, personal care and cosmetics end-use segments.
Asia Pacific will see significant demand for the product in the industrial end-use market. Palm oil is used in surfactants, lubricants and other applications. This is mainly due to the importance of China's industrial product manufacturing industries.
Market Share in Palm Oil
Wilmar, Sime Darby, IOI Corporation, Kuala Lumpur Kepong and United Plantations Berhad are some of the market leaders. As the market is well-consolidated, the largest players have a large share of the revenue. Many companies own their land and can harvest oil kernels on it. This allows them to be backward-integrated. However, few companies outsource this product.
To grow palm groves and provide support for farmers, manufacturers have formed a partnership. By investing in R&D, manufacturers are working hard to create a product portfolio that is innovative.
Many companies in this sector invest in research to increase their palm oil product portfolio. They also aim to provide a wider end-use application base and better withstand in the marketplace. Industry members around the world will be able to benefit from technological inventiveness and large foreign funds.
Report Scope
Attribute |
More Details |
Estimation base year |
2019 |
Actual estimates/Historical data |
2016-2018 |
Forecast period |
2020-2027 |
Representation of the market |
Volume in Kilotons, Revenues in USD Millions, and CAGR between 2020-2027 |
Regional Scope |
North America, Europe and Asia Pacific, Latin America, Middle East, & Africa |
Country Scope |
U.S., Canada, Germany, U.K., France, Italy, Netherlands, Spain, Russian Federation, China, India, Japan, South Korea, Malaysia, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa |
Report coverage |
Volume forecast, revenue forecast. Competitive landscape. Growth factors and trends. |
15% off customization scope (equivalent of 5 analysts working day) |
We will customize the report to provide you with any additional information that you require. |
The Report Covers Certain Segments
This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2016 to 2027. Grand View Research has divided the global palm oil market report by origin, product, end use, and region.
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Origin Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
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Organic
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Conventional
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Product Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
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Crude Palm Oil
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RBD Palm Oil
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Palm Kernel Oil
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Fractionated Palm Oil
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End-use Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
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Food & Beverage
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Personal Care & Cosmetics
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Biofuel & Energy
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Pharmaceutical
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Industrial (Surfactants, Lubricants, etc.)
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Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
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North America
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U.S
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Canada
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Europe
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Germany
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France
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U.K.
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Italy
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Netherlands
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Spain
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Russian Federation
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Asia Pacific
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China
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India
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Japan
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South Korea
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Malaysia
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Indonesia
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Latin America
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Brazil
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Argentina
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Mexico
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Middle East & Africa
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South Africa
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Saudi Arabia
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These are the most frequently asked questions about this report
What is the size of the palm oil market?b. Global palm oil market was valued at USD 61.1 million in 2019, and is projected to grow to USD 61.7 billion by 2020.
What is the growth rate of the palm oil market?b. Global palm oil markets are expected to grow at 3.1% compound annual growth rate between 2019 and 2027, reaching USD 78.0 billion in 2027.
Which segment had the largest share of the palm oil market?b. With a market share of 58.3%, crude palm oil (CPO), dominated the palm oils market in 2019. This can be attributed to an increase in the consumption of oleochemicals, agrochemicals, and cleaning products.
What are the major players in the palm oil market?b. b.
What are the main factors that drive the palm oil market?b. The market growth is being driven by the increasing demand for palm oil derivatives, and oleochemicals from various end-use industries.
Up Market Research published a new report titled “Palm Oil Market research report which is segmented by Product (Palm Kernel Oil, Crude, Fractionated, RBD), by Origin (Organic, Conventional), By Players/Companies Wilmar; Sime Darby; IOI Corporation; Kuala Lumpur Kepong; and United Plantations Berhad”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Palm Oil Market Research Report |
By Product | Palm Kernel Oil, Crude, Fractionated, RBD |
By Origin | Organic, Conventional |
By Companies | Wilmar; Sime Darby; IOI Corporation; Kuala Lumpur Kepong; and United Plantations Berhad |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 250 |
Number of Tables & Figures | 175 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Palm Oil Market Report Segments:
The market is segmented by Product (Palm Kernel Oil, Crude, Fractionated, RBD), by Origin (Organic, Conventional).
Palm Oil Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Palm Oil Market
Overview of the regional outlook of the Palm Oil Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Palm Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Palm Oil Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Palm Kernel Oil
2. Crude
3. Fractionated
4. RBD
7. By Origin:1. Organic
2. Conventional
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Palm Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Palm Oil Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Palm Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Palm Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Palm Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Palm Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Palm Oil Market Size & Forecast, 2018-2028
4.5.1 Palm Oil Market Size and Y-o-Y Growth
4.5.2 Palm Oil Market Absolute $ Opportunity
Chapter 5 Global Palm Oil Market Analysis and Forecast by Product
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Product
5.1.2 Basis Point Share (BPS) Analysis by Product
5.1.3 Absolute $ Opportunity Assessment by Product
5.2 Palm Oil Market Size Forecast by Product
5.2.1 Palm Kernel Oil
5.2.2 Crude
5.2.3 Fractionated
5.2.4 RBD
5.3 Market Attractiveness Analysis by Product
Chapter 6 Global Palm Oil Market Analysis and Forecast by Origin
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Origin
6.1.2 Basis Point Share (BPS) Analysis by Origin
6.1.3 Absolute $ Opportunity Assessment by Origin
6.2 Palm Oil Market Size Forecast by Origin
6.2.1 Organic
6.2.2 Conventional
6.3 Market Attractiveness Analysis by Origin
Chapter 7 Global Palm Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Palm Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Palm Oil Analysis and Forecast
9.1 Introduction
9.2 North America Palm Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Palm Oil Market Size Forecast by Product
9.6.1 Palm Kernel Oil
9.6.2 Crude
9.6.3 Fractionated
9.6.4 RBD
9.7 Basis Point Share (BPS) Analysis by Product
9.8 Absolute $ Opportunity Assessment by Product
9.9 Market Attractiveness Analysis by Product
9.10 North America Palm Oil Market Size Forecast by Origin
9.10.1 Organic
9.10.2 Conventional
9.11 Basis Point Share (BPS) Analysis by Origin
9.12 Absolute $ Opportunity Assessment by Origin
9.13 Market Attractiveness Analysis by Origin
Chapter 10 Europe Palm Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Palm Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Palm Oil Market Size Forecast by Product
10.6.1 Palm Kernel Oil
10.6.2 Crude
10.6.3 Fractionated
10.6.4 RBD
10.7 Basis Point Share (BPS) Analysis by Product
10.8 Absolute $ Opportunity Assessment by Product
10.9 Market Attractiveness Analysis by Product
10.10 Europe Palm Oil Market Size Forecast by Origin
10.10.1 Organic
10.10.2 Conventional
10.11 Basis Point Share (BPS) Analysis by Origin
10.12 Absolute $ Opportunity Assessment by Origin
10.13 Market Attractiveness Analysis by Origin
Chapter 11 Asia Pacific Palm Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Palm Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Palm Oil Market Size Forecast by Product
11.6.1 Palm Kernel Oil
11.6.2 Crude
11.6.3 Fractionated
11.6.4 RBD
11.7 Basis Point Share (BPS) Analysis by Product
11.8 Absolute $ Opportunity Assessment by Product
11.9 Market Attractiveness Analysis by Product
11.10 Asia Pacific Palm Oil Market Size Forecast by Origin
11.10.1 Organic
11.10.2 Conventional
11.11 Basis Point Share (BPS) Analysis by Origin
11.12 Absolute $ Opportunity Assessment by Origin
11.13 Market Attractiveness Analysis by Origin
Chapter 12 Latin America Palm Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Palm Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Palm Oil Market Size Forecast by Product
12.6.1 Palm Kernel Oil
12.6.2 Crude
12.6.3 Fractionated
12.6.4 RBD
12.7 Basis Point Share (BPS) Analysis by Product
12.8 Absolute $ Opportunity Assessment by Product
12.9 Market Attractiveness Analysis by Product
12.10 Latin America Palm Oil Market Size Forecast by Origin
12.10.1 Organic
12.10.2 Conventional
12.11 Basis Point Share (BPS) Analysis by Origin
12.12 Absolute $ Opportunity Assessment by Origin
12.13 Market Attractiveness Analysis by Origin
Chapter 13 Middle East & Africa (MEA) Palm Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Palm Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Palm Oil Market Size Forecast by Product
13.6.1 Palm Kernel Oil
13.6.2 Crude
13.6.3 Fractionated
13.6.4 RBD
13.7 Basis Point Share (BPS) Analysis by Product
13.8 Absolute $ Opportunity Assessment by Product
13.9 Market Attractiveness Analysis by Product
13.10 Middle East & Africa (MEA) Palm Oil Market Size Forecast by Origin
13.10.1 Organic
13.10.2 Conventional
13.11 Basis Point Share (BPS) Analysis by Origin
13.12 Absolute $ Opportunity Assessment by Origin
13.13 Market Attractiveness Analysis by Origin
Chapter 14 Competition Landscape
14.1 Palm Oil Market: Competitive Dashboard
14.2 Global Palm Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Wilmar; Sime Darby; IOI Corporation; Kuala Lumpur Kepong; and United Plantations Berhad