Palm Oil Market

Palm Oil Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The palm oil market size was estimated to be US$ 70.23 Billion in 2022 and is expected to reach US$ 118.83 Billion by 2032.

The palm oil market is expected to grow at a CAGR of 5.4% from 2023 to 2032.

The global palm oil market is driven by increasing demand for edible oils, high productivity and yield of oil palm, and rising investments in production and processing infrastructure.

Based on end-use industry, the Food & Beverage industry is the largest segment for palm oil in terms of consumption and market share. The main reason for the Food & Beverage industry being the largest segment is that palm oil is widely used as a versatile ingredient in a wide range of food and beverage products.

Asia-Pacific is the largest consumer and producer of palm oil, with Indonesia and Malaysia being the dominant players in the global palm oil market.

AAK AB, Archer Daniels Midland Company, Cargill, Incorporated, Fuji Oil Holdings Inc., GAR (Golden Agri-Resources) Limited, IOI Corporation Berhad, KLK Berhad, Musim Mas Holdings Pte. Ltd., Neste Oyj, PT Astra Agro Lestari Tbk, Sime Darby Plantation Berhad, Thai Union Group Public Company Limited, Unilever PLC, Wilmar International Limited, Yee Lee Corporation Bhd among others, are the major players in this market.

Based on type, the palm oil market is segmented into Crude Palm Oil (CPO), Refined, Bleached and Deodorized Palm Oil (RBDPO), Palm Kernel Oil (PKO) and others.