Global Palm Oil Market 2017-2021
About Palm Oil
Palm oil is a kind of vegetable oil that is popular in almost all parts of the world. It is produced from the pulp of the fruit of palm tree. Whereas, palm kernel oil is derived from the seed of the palm fruit. Palm oil is derived from both the pulp as well as the seed or the kernel of the fruit. In the vegetable oil market, it holds the major share. It is one of the most productive oil in terms of yield, in comparison to the other vegetable oils.
Technavio’s analysts forecast the global palm oil market to grow at a CAGR of 7.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global palm oil market for 2017-2021. To calculate the market size, the report considers the volume and value of the global palm oil market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Palm Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global palm oil market: Golden Agri Resources, IOI Corporation, Sime Darby, and Wilmar International
Other Prominent Vendors in the market are: Alami Group, Archer Daniels Midland Company, Cargill, Godrej agrovet, Kulim (Malaysia) Berhad, Musim Mas Holdings, PT Astra Agro Lestari Tbk, PT PP London Sumatra Indonesia Tbk, Ruchi Soya, and United Palm Oil Industry.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Greater focus on sustainable cultivation of palm oil. Due to the rapid demand for palm oil, especially from the biodiesel industry, there have been increased cases of deforestation for the plantation of palm oil crop. This is more prevalent in the major palm oil-producing countries like Indonesia and Malaysia. Forests have been razed to the ground causing several negative impacts on the environment.”
According to the report, one of the major drivers for this market is Lower prices of palm oil. Palm oil is the largest segment of the vegetable oils market. The major reason for it to occupy the largest segment is higher yield per unit of land. In comparison to other oils derived from trees/plants, palm oil is much cost-effective. The crop needs much less area to produce the same amount of oil as compared to sunflower and other crops. Hence, several vendors are increasing their production of palm oil.
Further, the report states that one of the major factors hindering the growth of this market is Impact on climatic changes. The increased use of palm oil has led to several environmental hazards. Deforestation is one of the major concerns for the increased consumption of palm oil. There has been an increased use of palm oil as biodiesel in food processing industries, because of the higher yield of palm oil compared to that of other vegetable oils.
Golden Agri Resources, IOI Corporation, Sime Darby, Wilmar International, Alami Group, Archer Daniels Midland Company, Cargill, Godrej agrovet, Kulim (Malaysia) Berhad, Musim Mas Holdings, PT Astra Agro Lestari Tbk, PT PP London Sumatra Indonesia Tbk, Ruchi Soya, United Palm Oil Industry
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