The global palm oil market reached a value of US$ 48.1 Billion in 2020. Originating from West-Africa, palm oil is an edible vegetable oil produced from the mesocarp of the fruit of oil palms. It is the world’s highest yielding oil crop, with output 5-10 times higher per hectare than other leading vegetable oil crops. It offers numerous nutritional benefits since it is cholesterol-free, easy to digest and rich in carotenoids, as well as Vitamin A. It also has a longer shelf-life and is cheaper than other vegetable oils available in the market.
Palm oil offers several health benefits that help in enhancing energy levels, preventing premature aging, improving eye vision, boosting the immune system, and reducing the risk of cancer and heart diseases. The increasing awareness regarding these health benefits among consumers is one of the primary factors contributing to the market growth. Furthermore, the thriving food industry is driving the product demand as it is extensively utilized for frying and as a key ingredient in the preparation of healthy food recipes. Apart from this, palm oil is readily replacing petroleum-based products as an effective alternative in the transportation and energy industries. It is also employed as a substitute for mineral oil in power stations for energy production. Moreover, initiatives undertaken by governments of various countries, such as Denmark and other western European nations, along with awareness campaigns by the World Health Organization to curb trans-fat consumption, are envisaged to boost the market growth. Looking forward, IMARC Group expects the global palm oil market to exhibit moderate growth during 2021-2026.
Breakup by Application:
Food & Beverages
Food and beverages currently represent the largest application segment as palm oil is resistant to oxidation, which helps in increasing the shelf life of the final products.
Region-wise, India exhibits a clear dominance in the market owing to the several initiatives undertaken by the Government of India, such as cutting down the import duty on palm oil.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Wilmar International Limited
Sime Darby Berhad
IOI Corporation Berhad
Astra Agro Lestari
Kuala Lumpur Kepong Berhad
Golden Agri-Resources Ltd.
Key questions answered in this report:
How has the global edible oil market performed so far and how will it perform in the coming years?
What has been impact of COVID-19 on the global edible oil market?
What are the major product types in the global edible oil market?
How has the global palm oil market performed so far and how will it perform in the coming years?
What are the key regional markets in the market?
What are the major application segments in the market?
What are the price trends of palm oil?
What are the various stages in the value chain of the market?
What are the key driving factors and challenges in the market?
What is the structure of the and who are the key players?
What is the degree of competition in the market?
What are the profit margins in the market?
What are the key requirements for setting up a palm oil manufacturing plant?
How is palm oil manufactured?
What are the various unit operations involved in a palm oil manufacturing plant?
What is the total size of land required for setting up a palm oil manufacturing plant?
What are the machinery requirements for setting up a palm oil manufacturing plant?
What are the raw material requirements for setting up a palm oil manufacturing plant?
What are the packaging requirements for palm oil?
What are the transportation requirements for palm oil?
What are the utility requirements for setting up a palm oil manufacturing plant?
What are the manpower requirements for setting up a palm oil manufacturing plant?
What are the capital costs for setting up a palm oil manufacturing plant?
What are the operating costs for setting up a palm oil manufacturing plant?
What will be the income and expenditures for a palm oil manufacturing plant?
What is the time required to break-even?