The demand for palm oil is expanding globally. Indonesia, India, and China are among the top palm oil-consuming countries. According to the official data, in India, about 349,000 hectare spread across 16 states have total palm oil potential in 2019. Palm oil is inexpensive to use with providing suitable replacement of partially-hydrogenated fat-containing trans-fatty acids. Along with that, palm oil has numerous health benefits like improving eye vision, keeping younger, increasing immune in body, and subsiding the risk of heart attack and cancer. As per our findings, the Palm Oil Industry will grow at a healthy CAGR of 11.62% during 2020-2026.
In 2018, India was among the leading importer of palm oil globally and the biggest importer of palm oil from Malaysia. Palm oil is also an excellent alternative for mineral oil in power stations for energy production. The countries like Indonesia and Malaysia produce maximum palm oil, followed by other tropical countries in Africa, Asia, and Latin America producing the rest. The increasing request for palm oil helped in the rising GDP of these countries and created job opportunities, and lifted middle class Indonesian and Malaysian.
Malaysia is one of the biggest palm oil exporters to the United Arab Emirates. The demands of palm oil are increasing in the industry for manufacturing renewable and halal certified cosmetics and the processed foods sector. Besides, United Arab Emirates is also one of the most important exporters of supply processed products to GCC & neighbouring countries. Because of UAE strategic position, it provides easy access to Europe and Africa. The Market for Palm Oil World Over was valued at US$ 54.79 Billion in 2020.
Looking forward, most of the legacy drivers of the Palm oil market are surging population worldwide, changing lifestyle, and rapid urbanization in the developing nations will continue to hold the global palm oil market. Palm oil is also considered a good substitute for petroleum-based products. It is regarded as an effective alternative to replace fossil fuels as the demand for energy source is expected to increase day by day for transportation and energy-producing industries. But it also has few challenges, such as; palm oil leads to an increase in much environmental pollution. One palm oil mile can generate up to 2.5 metric tons of effluent for every metric ton of palm oil. It also produces fuel for air pollution, soil erosion and climate change.
Covid-19 Impact on Palm Oil Industry
Around the world, COVID -19 pandemic has impacted many industries and this has impacted palm oil industry too. Production and consumption in the producing and consuming countries have been impacted much by restrictions on transportation, lockdown, and restriction among nation’s borders. In India, palm oils were mostly consumed in the hotels and restaurants. But all were locked down due to COVID restriction. But we believe the market to revive from the second half of 2021 as vaccinations have started.
This report titled “Global Palm Oil Market & Volume By Top Consuming Country (Indonesia, India, EU-27, China, Malaysia, Pakistan, Thailand, Bangladesh, United States, Nigeria, Others ), Top Producing Country (Indonesia, Malaysia, Thailand, Colombia, Nigeria, Guatemala, Papua New Guinea, Honduras, Ecuador, Brazil, Others), Top Importing Countries (India, EU-27, China, Pakistan, Bangladesh, United States, Egypt, Philippines, Russian Federation, Myanmar), Top Exporting Country (Indonesia, Malaysia, Guatemala, Colombia, Papua New Guinea, Benin, Thailand, Honduras, Ecuador, United Arab Emirates), Company (Sime Darby Berhad, IOI Corporation Berhad, Wilmar International, Kuala Lumpur Kepong Berhad, Golden-Agri Resources)” provides a complete analysis of global palm oil industry.
Consuming Country - Market breakup of 11 Countries
1. Indonesia
2. India
3. EU-27
4. China
5. Malaysia
6. Pakistan
7. Thailand
8. Bangladesh
9. United States
10. Nigeria
11. Others
Consuming Country - Volume breakup of 11 Countries
1. Indonesia
2. India
3. EU-27
4. China
5. Malaysia
6. Pakistan
7. Thailand
8. Bangladesh
9. United States
10. Nigeria
11. Others
Producing Country - Volume breakup of 11 Countries
1. Indonesia
2. Malaysia
3. Thailand
4. Colombia
5. Nigeria
6. Guatemala
7. Papua New Guinea
8. Honduras
9. Ecuador
10. Brazil
11. Others
Importing Country - Volume breakup of 10 Countries
1. India
2. EU-27
3. China
4. Pakistan
5. Bangladesh
6. United States
7. Egypt
8. Philippines
9. Russian Federation
10. Myanmar
Exporting Country - Volume breakup of 10 Countries
1. Indonesia
2. Malaysia
3. Guatemala
4. Colombia
5. Papua New Guinea
6. Benin
7. Thailand
8. Honduras
9. Ecuador
10. United Arab Emirates
All companies covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. Sime Darby Berhad
2. IOI Corporation Berhad
3. Wilmar International
4. Kuala Lumpur Kepong Berhad
5. Golden-Agri Resources
What is the estimated value of the Global Palm Oil Market?
What is the growth rate of the Global Palm Oil Market?
What is the forecasted size of the Global Palm Oil Market?
Who are the key companies in the Global Palm Oil Market?
| Report Attribute | Details |
|---|---|
| Published | May 2021 |
| Forecast Period | 2020 - 2026 |
| Estimated Market Value ( USD
| USD 54.79 Billion |
| Forecasted Market Value ( USD
| USD 105.97 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Sime Darby Berhad
- IOI Corporation Berhad
- Wilmar International
- Kuala Lumpur Kepong Berhad
- Golden-Agri Resources
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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