Palm Oil Market Overview 2022-2027:
According to the latest research report by IMARC Group, titled “Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on palm oil market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global palm oil market reached a value of US$ 50.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.5 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027.
Palm oil refers to vegetable oil that is naturally obtained from the mesocarp of palm fruits. It is a rich source of fat, carotene, antioxidants, vitamins A and E, etc. Palm oil promotes brain and heart health, servers as a source of energy, and has anti-ageing properties. Owing to these benefits, palm oil is widely used in the production of both food and non-food items, such as cereal, margarine, toothpaste, ink, soaps, wax, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Palm Oil Market Trends:
The growth of the global palm oil market can be attributed to the rising demand for healthy vegetable oils. Besides this, palm oil is used as a feedstock in the biofuels industry for producing biodiesel and a substitute for mineral oil in power plants. The rising environmental concerns, along with favorable government initiatives aimed to increase the adoption of biofuels, are boosting the market growth.
Explore Full Report with Table of Contents: https://www.imarcgroup.com/palm-oil-processing-plant
Competitive Landscape with Key players:
- Wilmar International Limited
- Sime Darby Berhad
- IOI Corporation Berhad
- Astra Agro Lestari
- Kuala Lumpur Kepong Berhad
- Golden Agri-Resources Ltd
Palm Oil Market Segmentation:
Our report has categorized the market based on region and application.
Breakup by Application:
- Household Cooking
- Food & Beverages
- Oleo Chemicals
- Personal Care
- Animal Feed
- European Union
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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