250 Pages Palm Oil Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Palm Oil. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Palm Oil Market across various industries and regions.
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Newly released data from Fact.MR’s palm oil industry analysis shows that overall demand in 2022 is expected to top nearly US$ 33 Bn. As per the report, revenues are anticipated to grow 1.5x to reach nearly US$ 50 Bn by 2031, experiencing a compounded annual growth rate (CAGR) of nearly 5%.
Sales are especially high across Indonesia, India, and China. According to government data, India’s total palm oil potential in 2019 is estimated to be around 350,000 hectares spread across 16 states. In the long run, global palm oil demand is expected to rise, registering a CAGR of nearly 5% until 2031. India and China will continue to consume maximum palm oil.
In recent years, palm-derived biodiesel has acquired significant traction. Compared to petroleum-based diesel, palm oil based biodiesel has a significantly lower sulfur content. Hence, the risk of noxious emissions upon its combustion is mitigated.
A recently developed palm biodiesel variant offers low pour content. This makes it easier to use, particularly during winters. It also produces far less carbon residues, meaning it leaves lesser carbon build-up in a diesel engine. In terms of feedstock, palm oil is considered an economical alternative to soybean.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Palm Oil market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Palm Oil
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Key Segments Covered
- Product Type
- Processed Palm Oil
- Virgin Palm Oil
- End User
- Palm Oil Demand from Foodservices
- Palm Oil Demand from Food Processing Industries
- Palm Oil Demand from Retailers
- Distribution Channel
- Palm Oil Sales through Modern Trade Channels
- Palm Oil Sales through Franchise Outlets
- Palm Oil Sales through Specialty Stores
- Palm Oil Sales through Online Channels
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In the following decade, manufacturers in the palm oil market will focus on strategic acquisitions, collaborations, and new launches.
- In June 2021, Cargill announced a $200 million investment in a new palm oil refinery in Lampung, Indonesia. The proposals will help the company expedite its efforts to build a sustainable palm supply chain and provide customers with verified deforestation-free products.
- Similarly, Hershey’s palm oil is used in a limited number of goods since it is adaptable and has unique properties that other edible oils lack. Palm oil, for example, contains no trans-fat and has a distinct texture and flavor when used in specialized confectionery applications.
Fact.MR has analyzed the global palm oil market in depth, estimating it to reach US$ 33.7 Bn value by 2022-end at a moderate CAGR. The report has also made certain projections given below –
- Europe is expected to maintain its dominant position in the palm oil market throughout the course of the forecast period. A CAGR of 4.9% from 2017 to 2022 makes it particularly appealing to key stakeholders in the palm oil market.
- A potential opportunity of almost US$ 5 billion in 2017 alone makes North America extremely important in the palm oil market which major companies would be highly advised to take into account while planning their long-term strategies.
- The virgin segment represents only a third of the revenue share by product type in the palm oil market and it is not anticipated to outpace the processed segment anytime soon. Europe and APEJ are the only regions that are predicted to cross US$ 2 billion by end of 2022 and companies could look at targeting them with products that cater to their requirements.
- The retail segment is on track to comprise more than a third of the palm oil market by end use segment. Studies show that it is present in more than half of all commodities stocked on retailer store shelves. The palm oil market serves the food & beverage, cosmetics, animal foodstuff, and pharmaceutical industry.
- The specialty store segment is only a fifth of the revenue share by distribution channel in the palm oil market but companies could try to raise the profile of these dedicated stores by committing additional resources. Specialty stores may only market products sold in the palm oil market raising the awareness of this multi-purpose natural oil.
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Key Question answered in the survey of Palm Oil market report:
- Sales and Demand of Palm Oil
- Growth of Palm Oil Market
- Market Analysis of Palm Oil
- Market Insights of Palm Oil
- Key Drivers Impacting the Palm Oil market
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More Valuable Insights on Palm Oil Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Palm Oil, Sales and Demand of Palm Oil, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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