Please Wait.....
Report
Palm Oil Market Assessment, By Type [Crude palm oil, Palm kernel oil, Fractionated palm oil, White palm oil, Virgin palm oil, RBD palm oil and Others], By Cultivation [Organic and Conventional], By Application [Chemical Feedstock, Biofuel Production, Animal Feed and Others], By End-use Industry [Pharmaceuticals, Food and Beverages, Cosmetics, Chemical Processing, Animal Husbandry and Others], By Region, Opportunities, and Forecast, 2016-2030F
Market Report I 2024-04-19 I 129 Pages I Market Xcel - Markets and Data
Global palm oil market size was valued at USD 58.8 billion in 2022, which is expected to grow to USD 81.7 billion in 2030, with a CAGR of 4.2% during the forecast period, between 2023 and 2030. The upsurge in global population and economic expansion propels an ever-mounting appetite for edible oils, with palm oil emerging as a pervasive component within a wide spectrum of food products. Additionally, governmental endeavors to foster the integration of biofuels, including those sourced from palm oil, have introduced an additional stratum of significance to this sector. In a collective endeavor to diminish dependence on fossil fuels and abate carbon emissions, the potential of palm oil as a renewable energy resource has garnered the rapt attention of policymakers and various industries.
The global palm oil market faces fluctuations in supply due to unpredictable weather and disease outbreaks. The market is affected by the availability of other oils, trade rules, and changes in currency values along with growing apprehensions concerning deforestation, habitat degradation, and the ethical dimensions associated with palm oil production, all adding a layer of unpredictability to the palm oil industry. However, initiatives such as the Roundtable on Sustainable Palm Oil (RSPO) have garnered substantial momentum contributing to a positive market outlook.
Growing Demand for Biofuel
Palm oil serves as a vital feedstock in biodiesel production, a renewable energy source that holds significant promise in the global pursuit of sustainable alternatives to fossil fuels. The utilization of palm oil as a primary ingredient in biodiesel formulation has gained traction, driven in large parts by government policies and incentives aimed at advancing the adoption of renewable energy sources.
For instance, in a bid to decrease its reliance on imported diesel fuel in the face of soaring global energy costs and to curb emissions, Indonesia, the largest global palm oil producer has taken the significant step of increasing the mandatory palm oil blend in biodiesel. Since February 2023, the required blending ratio of palm oil in biofuel has been elevated from 30% to a new benchmark of 35%. Government initiatives like these towards biofuel development drive the demand for palm oil globally.
Rising Sustainable Practices
Growing concerns about the decrementing environmental and social impacts associated with palm oil production have significantly altered the industry landscape. Deforestation, habitat destruction, and human rights violations have cast a shadow on conventional palm oil practices, prompting a widespread call for change. This shift in public sentiment has created a heightened demand for palm oil that is sourced and produced in a manner that mitigates these negative consequences.
In response to these concerns, certification programs like the Roundtable on Sustainable Palm Oil (RSPO) have emerged as vital mechanisms for driving responsible production practices within the palm oil sector. The RSPO, as a leading example, sets forth stringent standards and guidelines that producers must adhere to attain certification. These criteria include environmental conservation, land use, labor rights, and community engagement. These rules address consumer concerns and promote consumption raising demand for palm oil.
Impact of COVID-19
The COVID-19 had mixed effects on the global palm oil market. The market faced challenges due to supply shortages, demand differences, and logistical problems. Industries such as chemical processing were affected by market restrictions, lowering the demand for palm oil. The decreased cultivation of palm during Covid-19 owing to labor restriction weakened the market's supply side. However, there were positive impacts on global palm oil market caused by the increased demand from sectors like pharmaceuticals and personal care. The need for personal care and hygiene items peaked during the pandemic which led to an increased demand for palm oil globally.
Impact of Russia-Ukraine War
The ongoing conflict between Russia and Ukraine did not directly impact the palm oil market. However, Ukraine was the highest sunflower oil exporting country, and the war has disrupted the supply of sunflower oil. Therefore, the demand for substitute oils, such as palm oil peaked at the beginning of the conflict. Moreover, the conflict between Russia and Ukraine has led to market instability and trade disruptions worldwide. Global palm oil manufacturers face challenges due to delays and uncertainty in supply chains resulting from the ongoing war.
Key Players Landscape and Outlook
Major palm oil manufacturers are strategically pursuing acquisitions to diversify their downstream product portfolios and extend their market presence. These efforts align with the overarching objective of expanding their offerings beyond the core palm oil segment, thus enhancing their market positioning and diversifying revenue streams. These manufacturers aim to capitalize on synergistic opportunities through targeted acquisitions, leverage economies of scale, and optimize operational efficiencies across a broader spectrum of products and markets.
For instance, in April 2023, Kuala Lumpur Kepong Bhd (KL Kepong), operating through its resource-based manufacturing division named KLK Oleo, successfully finalized the acquisition of a majority share in Temix Oleo SpA.
A dual landscape of challenges and opportunities shapes the global palm oil market's future. Sustainability concerns and ethical practices will reshape industry norms, driven by consumer demand and regulations. Initiatives like RSPO will gain prominence. Simultaneously, growing global population and demand for versatile palm oil applications in food, personal care, and biofuels will persist. Technological advancements and renewable energy shifts will further drive palm oil's growth. However, trade dynamics, changing preferences, and regulations pose challenges. Striking a balance between demand, sustainability, and innovation will be crucial for long-term success.
1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on Palm Oil Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
6.1. Market Awareness and Product Information
6.2. Brand Awareness and Loyalty
6.3. Factors Considered in Purchase Decision
6.3.1. Brand Name
6.3.2. Quality
6.3.3. Quantity
6.3.4. Price
6.3.5. Product Specification
6.3.6. Application Specification
6.3.7. VOC/Toxicity Content
6.3.8. Shelf Life
6.3.9. Availability of Product
6.4. Frequency of Purchase
6.5. Medium of Purchase
7. Global Palm Oil Market Outlook, 2016-2030F
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. By Type
7.2.1. Crude palm oil
7.2.2. Palm kernel oil
7.2.3. Fractionated palm oil
7.2.4. White palm oil
7.2.5. Virgin palm oil
7.2.6. RBD palm oil
7.2.7. Others
7.3. By Cultivation
7.3.1. Organic
7.3.2. Conventional
7.4. By Application
7.4.1. Chemical Feedstock
7.4.2. Biofuel Production
7.4.3. Animal Feed
7.4.4. Others
7.5. By End-use Industry
7.5.1. Pharmaceuticals
7.5.2. Food & Beverages
7.5.3. Cosmetics
7.5.4. Chemical Processing
7.5.5. Animal Husbandry
7.5.6. Others
7.6. By Region
7.6.1. North America
7.6.2. Europe
7.6.3. South America
7.6.4. Asia-Pacific
7.6.5. Middle East and Africa
8. Global Palm Oil Market Outlook, By Region, 2016-2030F
8.1. North America*
8.1.1. By Type
8.1.1.1. Crude palm oil
8.1.1.2. Palm kernel oil
8.1.1.3. Fractionated palm oil
8.1.1.4. White palm oil
8.1.1.5. Virgin palm oil
8.1.1.6. RBD palm oil
8.1.1.7. Others
8.1.2. By Cultivation
8.1.2.1. Organic
8.1.2.2. Conventional
8.1.3. By Application
8.1.3.1. Chemical Feedstock
8.1.3.2. Biofuel Production
8.1.3.3. Animal Feed
8.1.3.4. Others
8.1.4. By End-use Industry
8.1.4.1. Pharmaceuticals
8.1.4.2. Food & Beverages
8.1.4.3. Cosmetics
8.1.4.4. Chemical Processing
8.1.4.5. Animal Husbandry
8.1.4.6. Others
8.1.5. United States*
8.1.5.1. By Type
8.1.5.1.1. Crude palm oil
8.1.5.1.2. Palm kernel oil
8.1.5.1.3. Fractionated palm oil
8.1.5.1.4. White palm oil
8.1.5.1.5. Virgin palm oil
8.1.5.1.6. RBD palm oil
8.1.5.1.7. Others
8.1.5.2. By Cultivation
8.1.5.2.1. Organic
8.1.5.2.2. Conventional
8.1.5.3. By Application
8.1.5.3.1. Chemical Feedstock
8.1.5.3.2. Biofuel Production
8.1.5.3.3. Animal Feed
8.1.5.3.4. Others
8.1.5.4. By End-use Industry
8.1.5.4.1. Pharmaceuticals
8.1.5.4.2. Food & Beverages
8.1.5.4.3. Cosmetics
8.1.5.4.4. Chemical Processing
8.1.5.4.5. Animal Husbandry
8.1.5.4.6. Others
*All segments will be provided for all regions and countries covered
8.1.6. Canada
8.1.7. Mexico
8.2. Europe
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. United Kingdom
8.2.5. Russia
8.2.6. Netherlands
8.2.7. Spain
8.2.8. Turkey
8.2.9. Poland
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.4. Asia-Pacific
8.4.1. India
8.4.2. China
8.4.3. Japan
8.4.4. Australia
8.4.5. Vietnam
8.4.6. South Korea
8.4.7. Indonesia
8.4.8. Philippines
8.5. Middle East & Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. South Africa
9. Supply Side Analysis
9.1. Capacity, By Company
9.2. Production, By Company
9.3. Operating Efficiency, By Company
9.4. Key Plant Locations (Up to 25)
10. Market Mapping, 2022
10.1. By Type
10.2. By Cultivation
10.3. By Application
10.4. By End-use Industry
10.5. By Region
11. Macro Environment and Industry Structure
11.1. Supply Demand Analysis
11.2. Import Export Analysis - Volume and Value
11.3. Supply/Value Chain Analysis
11.4. PESTEL Analysis
11.4.1. Political Factors
11.4.2. Economic System
11.4.3. Social Implications
11.4.4. Technological Advancements
11.4.5. Environmental Impacts
11.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
11.5. Porter's Five Forces Analysis
11.5.1. Supplier Power
11.5.2. Buyer Power
11.5.3. Substitution Threat
11.5.4. Threat from New Entrant
11.5.5. Competitive Rivalry
12. Market Dynamics
12.1. Growth Drivers
12.2. Growth Inhibitors (Challenges, Restraints)
13. Key Players Landscape
13.1. Competition Matrix of Top Five Market Leaders
13.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
13.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
13.4. SWOT Analysis (For Five Market Players)
13.5. Patent Analysis (If Applicable)
14. Pricing Analysis
15. Case Studies
16. Key Players Outlook
16.1. Wilmar International Ltd
16.1.1. Company Details
16.1.2. Key Management Personnel
16.1.3. Products & Services
16.1.4. Financials (As reported)
16.1.5. Key Market Focus & Geographical Presence
16.1.6. Recent Developments
16.2. Kuala Lumpur Kepong Berhad
16.3. FGV Holdings Berhad
16.4. Cargill Inc
16.5. IOI Group Berhad
16.6. Asian Agri
16.7. Olam International
16.8. Sime Darby Plantation
16.9. Posco International Corporation
16.10. Golden Agri-Resources Ltd
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. Strategic Recommendations
18. About Us & Disclaimer
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security