Palm Oil Market size was valued at USD 73.8 Billion in 2024 and is forecasted to grow at a CAGR of 4.8% from 2026 to 2033, reaching USD 97.4 Billion by 2033.
The global palm oil market size was valued at USD 55.42 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. Palm oil is widely used in food products, cosmetics, and biofuels, with demand significantly increasing in the Asia Pacific region, particularly in countries such as Indonesia and Malaysia, which together account for over 85% of global production. The increasing consumption of palm oil in processed foods and as an alternative energy source is driving market growth, with the demand for sustainable palm oil gaining momentum in response to environmental concerns. The market is also being supported by rising population numbers, which are increasing the demand for edible oils worldwide.
Regionally, Asia Pacific held the largest market share in 2022, contributing to more than 65% of the global market revenue. The region is anticipated to continue dominating the market during the forecast period, driven by high palm oil production in countries like Indonesia and Malaysia, along with growing consumption in emerging economies such as India and China. North America and Europe are also showing a steady rise in palm oil demand due to increasing adoption of palm oil in food products and consumer goods. Opportunities for growth are seen in these regions through the rising preference for sustainable and certified palm oil products, as well as increasing demand for biofuels. Africa is expected to experience significant growth in the palm oil sector due to improving agricultural practices and investments in plantation development.
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Felda Global Ventures
IOI
Sime Darby Berhad
Musim Mas
Astra Agro Lestari
Bumitama Agri
Genting Group
KLK
WILMAR
RGE Pte
Indofood Agri Resources
Golden Agri Resources
First Resources
Sampoerna Agro
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Palm Oil Market
Crude Palm Oil (CPO)
Refined Palm Oil (RPO)
Fractionated Palm Oil
Hydrogenated Palm Oil
Others
Food & Beverage
Cosmetics & Personal Care
Pharmaceuticals
Biofuel & Biodiesel
Animal Feed
Others
Food Industry
Cosmetics Industry
Chemical Industry
Energy Sector
Others
Liquid
Solid
Direct Sales
Retail Sales
Wholesale
Online Sales
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Palm Oil Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Palm Oil Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Palm Oil Market, By Type
6. Global Palm Oil Market, By Application
7. Global Palm Oil Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Palm Oil Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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