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 rapidly evolving energy landscape, biofuels have emerged as a viable alternative to traditional fossil fuels. Biofuels are derived from plant biomass and can be categorized into first, second, and third-generation feedstocks based on their source. First-generation biofuels are derived from edible vegetable oils such as soybean oil, palm oil, and sunflower oil. These oils were the initial crops used to produce biodiesel and are considered first-generation feedstocks. In contrast, non-edible vegetable oils like jatropha, mahua, jojoba oil, salmon oil, sea mango, animal fats, used cooking oils, agricultural and solid municipal wastes are classified as second-generation feedstocks due to their non-edible nature. Lastly, microalgae, cyanobacteria, and other single-celled oleaginous microorganisms represent the third-generation feedstocks, which offer the potential for sustainable, large-scale production with minimal competition with food crops. 

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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

The Palm Oil Market encompasses various aspects of production and processing, including kernel yield enhancement through improved farming techniques and oil extraction methods like mesocarp and endocarp extraction. Quality control measures ensure top-notch palm oil processing, while environmental impact assessments and carbon footprint reduction efforts address sustainability concerns. Waste management solutions, biodiversity conservation, and soil erosion control are crucial for sustainable agriculture practices. Integrated pest management, precision agriculture techniques, remote sensing applications, and GIS data analysis aid in yield prediction models, crop monitoring systems, nutrient uptake efficiency, and plant growth regulators. Genetic modification, disease resistance traits, pest resistance traits, plant breeding programs, oil palm genetics, productivity enhancement, and quality improvement strategies contribute to value chain optimization and supply chain management. Product diversification is also a significant focus in the palm oil industry.

Market Research Overview

The Palm Oil Market, a crucial component of the global packaged foods and meats industry, encompasses businesses engaged in oil palm cultivation, milling, and production. Technavio's market analysis estimates the Palm Oil Market size based on the consolidated revenue of these entities. This market segment excludes manufacturers of food processing equipment and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers for the Palm Oil Market include: 1. Fruit bunch yield enhancements: Advancements in oil palm cultivation techniques, such as selective breeding and agrochemical applications, have led to increased fruit bunch yields. 2. Sustainable palm oil production: Growing consumer awareness and regulatory pressure for sustainable practices have led to an emphasis on Certified Sustainable Palm Oil (CSPO) production. 3. Mill extraction efficiency improvements: Innovations in milling technologies have resulted in higher palm oil extraction rates and reduced waste. 4. Steric acid content optimization: Enhanced understanding of steric acid's role in palm oil stability and quality has led to efforts to optimize its content for various applications. These factors contribute to the growth of the Palm Oil Market within the global packaged foods and meats industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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