(Food-Beverage-News.Com, January 24, 2018 ) Market Scenario: Palm oil is one amongst the most nutritious edible oil. It is derived from palm fruit which is originally from Western Africa but can flourish wherever heat and rainfall are abundant. Palm oil can be classified into crude palm oil, palm kernel oil, and others. Crude palm oil is derived from the fruit of the oil palm tree and referred as "red palm oil" because of its rich dark red color in its unprocessed natural state. Whereas, palm kernel oil is derived from the seed or the kernel of the palm fruit. Palm oil has a high resistance to oxidation and therefore has a long shelf life.
Globally, palm oil is witnessing a high demand in the market. Palm oil is applicable as a cooking oil, bio-diesel, lubricants, cosmetics, and others, which is driving the growth of the market. Increasing demand for vegetable oil is a major factor driving the growth of the market. Moreover, in the biofuels market, it is used as the feedstock for the production of biodiesel and as an alternative to mineral oils for use in power stations which is boosting the growth of the palm oil market.
The fatty acid derivatives of palm oil are used in the production of bactericides, cosmetics, pharmaceuticals and water-treatment products. Increasing consumption of palm oil in the manufacturing process of soaps and detergents and in the production of greases, lubricants, and candles is further boosting the growth of the market. Moreover, increasing usage of palm oil as a substitute for trans-fat in processed foods is adding fuel to the growth of palm oil market.
Key Findings: Indonesia, Malaysia, the Netherlands, Papua New Guinea, and Guatemala are the major exporters of palm oil market
India, China, Pakistan, Spain, and Egypt are the major importers of Indonesia palm oil market
Segments: The global palm oil market is segmented into type and application.
On the basis of type, the palm oil market is segmented into crude palm oil, palm kernel oil, and others. Among all, crude palm oil is dominating the market followed by palm kernel oil. Crude palm oil has less saturated fat than palm kernel oil. Moreover, crude palm oil has a high level of tocotrienols which makes it an outstanding source of vitamin E and a powerful antioxidant, driving the growth of the segment.
On the basis of the application, the palm oil market is segmented into cooking oil, bio-diesel, lubricant, cosmetics, and others. Amongst all the cooking oil segment is dominating the market. However, cosmetics segment is expected to witness high growth over the forecast period.
Regional Analysis: The global palm oil market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the market and is witnessed to have a substantial growth over the forecast period with increasing consumption of palm oil in different industries. Indonesia and Malaysia are the major producers and exporters of palm fruit which are majorly contributing to the growth of palm oil market in Asia Pacific.
North America and Europe are projected to have a moderate growth during the forecast period. Moreover, Latin America and the Middle East & Africa are anticipated to be the fastest growing region in palm oil market over the estimated period.
Key Players: Some of the key players profiled in the global palm oil market: Cargill Inc. (U.S.), Wilmar International Limited (Singapore), Sime Darby (Malaysia), IOI Corp. (Malaysia), Golden Agri Resources Limited (Singapore), Kulim BHD (Malaysia), Godrej Agrovet Limited (India), London Sumatra (Indonesia)
