According to Stratistics MRC, the Global Palm Oil & derivatives market is estimated at $80.3 billion in 2015 and is poised to reach $130.2 billion by 2022, growing at a CAGR of 7.13% during the forecast period. Growing demand for vegetable oil, low cost benefits, expanding applications of palm oil in edible and non-edible sectors are the factors driving the market growth. On the other hand, the large amount of ageing palm trees, yielding lesser volumes of palm oil has restrained the market. The major challenges include competition from soybean oil and environmental issues related to palm oil plantation.
Asia Pacific was the largest palm oil consumer and accounted for more than 60% of total market size in 2015. Availability of raw material in large quantity along with growing disposable income levels in India and Indonesia is estimated to drive the local market. India is one of the biggest palm oil importers in the world.
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Some of the key players in the market include London Sumatra, Wilmar International Ltd., Alami Group, Golden Agri-Resources Ltd., Musim Mas Group, Cargill Inc. , Tradewinds Plantation, Sime Darby, Archer Daniels Midland, Boustead Group, PT Astra Agro Lestari Tbk, IOI Group and Kulim Bhd.
Types of Oil Covered:
Palm Kernel Oil
Red palm oil
Fractionated palm oil
Palm Kernel Cake
White palm oil
o Palm stearin
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