Latest News- Palm Oil Market: Edible oil is expected to lead the Application segment during 2025-2029

The Palm Oil Market is being driven by Increasing consumer awareness regarding health benefits of palm oil

The Palm Oil Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 54.4 billion. In the burgeoning biofuel market, biodiesel, a cleaner and more sustainable alternative fuel, is increasingly being adopted. Biodiesel is derived from plant-based feedstocks, which can be categorized into first, second, and third generations. First-generation feedstocks consist of edible vegetable oils, such as soybean oil, palm oil, and sunflower oil, which were initially used to produce biodiesel. In contrast, second-generation feedstocks are derived from non-edible vegetable oils, including jatropha, mahua, jojoba oil, salmon oil, sea mango, animal fats, used cooking oils, agricultural waste, and municipal solid waste. Lastly, third-generation feedstocks, such as microalgae, cyanobacteria, and other single-celled oleaginous microorganisms, offer the potential for mass production and high yields, making them a promising future development in the biodiesel industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Edible oil
  • Surfactants
  • Bio-diesel
  • Others
• Type
  • Conventional
  • Organic
• Geography
  • APAC
    • China
    • India
  • Middle East and Africa
  • Europe
    • Germany
    • UK
  • North America
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing consumer awareness regarding health benefits of palm oil
• Rising demand for biofuels
• Growing demand for industrial applications elevating market prospects

However, the market also witnesses some limitations, which are as follows:

• Concerns about deforestation and plant diversity losses
• Scarcity of cultivable land
• High premium and limited availability of palm oil

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Market Scope in Palm Oil Market Research Report

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Research Analysis Overview

Palm oil, derived from palm fruits, is a widely used edible vegetable oil. It is utilized in various industries, including food, cosmetics, and biodiesel. Products like instant noodles contain crude palm oil, RBD palm oil, and palm kernel oil. Sustainable and organic production methods are increasingly adopted to mitigate health concerns, such as heart disease associated with its consumption. Unrefined palm oil and palm seed oil are healthier alternatives. Mineral oil and rapeseed oil are competitors in the edible oil market. Organic farming practices are essential to preserve tropical forests and ensure a sustainable supply. White Palm Oil is a refined version used in food processing.

Market Research Overview

The Palm Oil market encompasses the production and trade of Crude Palm Oil (CPO), Refined, Bleached, and Deodorized (RBD) Palm Oil, Palm Kernel Oil, and Palm Fruits. These edible oils play a pivotal role in the global Packaged Foods and Meats industry, where they are extensively used in the manufacturing of Instant Noodles and various processed food products. The market's growth is driven by the increasing demand for sustainable production methods and the health benefits associated with the consumption of palm oil derivatives in minimally processed foods. As per Technavio, the global Packaged Foods and Meats market is projected to grow significantly due to the nutritional advantages of these foods, which include essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. This trend is expected to continue as consumers increasingly seek healthier alternatives to traditional processed foods.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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