Palm Oil Market Size, Share & Trends Analysis Report By Nature (Organic, Conventional), By Product (Crude Palm Oil, Palm Kernel Oil, RBD Palm Oil), By Application (Food & Beverage, Pharmaceuticals, Biofuel & Energy, Personal Care & Cosmetics), By Region,

Palm Oil Market Summary

The global palm oil market size was estimated at USD 74.5 billion in 2024 and is projected to reach USD 113.9 billion by 2035, growing at a CAGR of 4.2% from 2025 to 2035. The global market for palm oil is primarily driven by the growing demand from the food and beverage sector.

Palm oil’s versatility, low cost, and long shelf life make it a preferred ingredient in bakery, confectionery, and processed food products. Its widespread use as a cooking oil and in margarine and instant noodles continues to support market growth. The expanding global population and rising consumption of packaged foods are further amplifying this demand.

Another key driver for the global palm oil industry is the increasing use of palm oil in biodiesel production. Governments across Asia, Europe, and Latin America are promoting biofuel blending mandates to reduce carbon emissions and dependence on fossil fuels. Palm oil’s high yield and energy efficiency make it a popular feedstock choice for biodiesel manufacturers. This trend is creating strong demand from the energy sector, especially in Indonesia and Malaysia.

A major opportunity in the global palm oil industry lies in the growing demand for sustainably sourced and certified palm oil. Increasing consumer awareness about environmental and social impacts is pushing companies to adopt RSPO-certified and traceable supply chains. This trend is opening new growth avenues for producers investing in eco-friendly cultivation, deforestation-free sourcing, and transparent trade practices. As global brands prioritize sustainability commitments, the market for certified palm oil is expected to expand significantly.

Global Palm Oil Market Report Segmentation

This report forecasts revenue & volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2035. For this study, Grand View Research has segmented the global palm oil market report based on product, nature, end-use, and region:

• Nature Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)
• Organic
• Conventional
• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)
• Crude Palm Oil
• Palm Kernel Oil
• RBD Palm Oil
• Fractionated Palm Oil
• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)
• Food & Beverage
• Personal Care & Cosmetics
• Biofuel & Energy
• Pharmaceuticals
• Others
• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• Italy
• Spain
• France
• Russia
• Asia Pacific
• Malaysia
• Indonesia
• China
• Japan
• South Korea
• India
• Latin America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• Saudi Arabia
• South Africa

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