Content Source – Koncept Analytics
The global palm oil production volume is anticipated to reach 98.82 million metric tons in 2024, growing at a CAGR of 5.9%, for the period spanning from 2019 to 2024. The factors such as increasing population, rising biofuel production, growing skin care market, accelerating personal disposable income and escalating application in various markets are expected to drive the market. However, growth of the industry would be challenged by the weather uncertainties, stringent regulations and growing sunflower-seed oil demand. A few notable trends include rising red palm oil demand in developing nations and growing shift towards palm oil crop transplanting.
Palm oil is classified into Crude Palm Oil (CPO), Crude Palm Kernel Oil (CPKO) and Palm Kernel Cake. CPO is a raw & unrefined palm oil, obtained from the fibrous mesocarp (red pulp) of palm fruit by the process of sterilization. CPKO is a raw & unrefined palm oil, derived from the palm kernel (seed), by crushing seed in the pressing machine. Major end users are cooking oil, farming and cosmetic industries. Palm Kernel Cake is a pulp left during the CPKO crushing process. It is utilized as a high-protein feed for dairy steers or consumed in boilers to create power for palm oil processes and encompassing towns.
CPO is the most produced palm oil owing to increasing palm oil seeds yield in Indonesia and Malaysia, favourable climate conditions, swelling number of producers using transplanting technique and high fresh fruits bunches (FFB’s) production in various countries.
The fastest growing regional market is Indonesia due to increasing palm oil plantation area, favourable government regulations and rising shift by the natural oil producers from traditional planting to transplanting crop techniques.
Scope of the report:
The report provides a comprehensive analysis of the global palm oil market, segmented on the basis of production, consumption, exports and imports.
The major countries have been analysed Indonesia, Malaysia, India, Colombia and EU have been analysed.
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. Wilmar International Limited, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad, PT Astra International, Tbk (AALI), Sime Darby Berhad and Golden Agri-Resources Ltd are also presented in detail.
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