(Food-Beverage-News.Com, November 22, 2019 ) Palm oil is derived from the oil palm fruit's mesocarp (reddish pulp) and treated as vegetable oil. It is the primary oil crop in the world, yielding 5-10 times greater per hectare than other major vegetable oil plants. Palm oil has a higher shelf life, low cost, and provides countless dietary advantages due to its distinct chemical composition. It has health advantages like vitamin A, free from cholesterol, wealthy in carotenoids, and simple to digest. Palm oil can, therefore, increase energy levels, improve the sight of the eye, stop premature aging, increase the immune system, and decrease the risk of cancer and heart disease. According to Renub Research, Global Palm Oil Market is expected to reach a volume of 111.3 Million Tons by the end of the year 2025.
Palm oil is semi-solid at room temperature and has saturated vegetable fats. It is commonly used for cooking purposes in many nations due to its reduced price and elevated oxidative durability. Growing awareness among consumers of health advantages is the growing global demand for palm oil.
Besides many personal products, including liquid detergents, soaps, shampoos, lipsticks, waxes, polishes, make-up, and more, use palm oil; thus this is further driving the growth of palm oil market. Palm oil is displacing petroleum-based products in the transportation and energy industries as a convenient option for fossil fuels. Indonesia is the top nation for palm oil consumption and production. The Indonesian government is helping manufacturers and producers of regional palm oil and allowing a large area to be planted.
While palm oil is chemically stable, productive, and low price, expanding its use has resulted in deforestation and loss of habitat, comes under the challenges of the palm oil market. However, the top palm oil companies are implementing the corporate social responsibilities initiatives by launching various programs to protect the rights of children who are residing in palm oil plantations. Such as, Wilmar International, in collaboration with Aidenvironment, stepped up to protect the plantation from deforestation.
Renub Research report titled Palm Oil Market, Volume Global Forecast By Top Consumption (Indonesia, India, EU-27,China, Malaysia, Pakistan, Thailand, Bangladesh, United States, Nigeria, Others ), Top Production (Indonesia, Malaysia, Thailand, Colombia, Nigeria, Guatemala, Papua New Guinea, Honduras, Ecuador, Brazil, Others), Top Importing (India, EU-27, China, Pakistan, Bangladesh, United States, Egypt, Philippines, Russian Federation, Myanmar), Top Exporting (Indonesia, Malaysia, Guatemala, Colombia, Papua New Guinea, Benin, Thailand, Honduras, Ecuador, United Arab Emirates), Companies (Sime Darby Berhad, IOI Corporation Berhad, Wilmar International, Kuala Lumpur Kepong Berhad, Golden-Agri Resources) provides a complete analysis of global palm oil market.
By Consumption, Indonesia - India, EU-27, and China hold a significant market share in the global palm oil industry
Based on consumption - the top ten countries in the global palm oil market are Indonesia, India, EU-27, China, Malaysia, Pakistan, Thailand, Bangladesh, United States, Nigeria, and Others.
By Production & Export - Indonesia is the top leading country in the Palm Oil Production, Consumption and Export Globally
Palm oil is an essential item for the Indonesian economy as it is the world's biggest producer and consumer of palm oil. In the report, we covered the top ten leading countries which have high production, consumption, export, and import capacity. Indonesia is the top leading country in palm oil production, consumption, and export globally.
By Volume & Import - India dominates in the Global Palm Industry
In this report, we have done a comprehensive analysis of top ten palm oil importing countries by volume. The covered countries are India, EU-27, China, Pakistan, Bangladesh, United States, Egypt, Philippines, Russian Federation, and Myanmar. India is dominating in the palm oil import volume globally.
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