Palm oil is one of the most popular vegetable oil consumed on a daily basis, globally. The demand for this product is gaining momentum owing to rising preference for natural oils as a cooking oil along with incorporation in cosmetics (as an oil, dirt, moisturizer removal), in detergents (for soap & cloth washing power manufacturing) & chemicals (for oleochemical processing) by the industrialist. The major palm oil product types available in the market place are Crude Palm Oil (CPO), Crude Palm Kernel Oil (CPKO) and Palm Kernel Cake.
The global market is expected to witness a lucrative growth due the increasing population, rising biofuel production, growing skin care market, accelerating personal disposable income and escalating application in various markets. The market is trending with rising red palm oil demand in developing nations and growing shift towards palm oil crop transplanting. However, there are some growth hindering factors in the market including weather uncertainties and stringent regulations.
Regionally, Indonesia is expected to hold the leading position in the market, due to the increasing planted palm oil area, favourable government regulations and the rising shift by the producers from traditional planting to transplanting palm oil crop techniques.
“Global Palm Oil Market: Industry Analysis & Outlook (2019-2023)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. Key players i.e. Wilmar International Limited, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad and PT Astra International, Tbk (AALI) are being profiled along with their respective financials and growth strategies.