The global Palm Oil Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Organic, Conventional), By Product (CPO, RBD Palm Oil, Palm Kernel Oil, Fractionated Palm Oil), By End-User (Food & Beverage, Personal Care & Cosmetics, Biofuel & Energy, Pharmaceuticals, Others).
The market for palm oil is witnessing growth driven by its versatile applications in the food and beverage, cosmetics, pharmaceuticals, and biofuel industries. One key trend shaping the future of the industry is the increasing demand for sustainable and responsibly sourced palm oil, driven by environmental concerns, corporate commitments to zero-deforestation, and consumer preferences for ethically produced products. Palm oil, derived from the fruit of the oil palm tree, is valued for its high yield, versatility, and functionality as a cooking oil, ingredient, and feedstock for various industrial applications. This trend is driving investments in sustainable palm oil production practices such as zero-burning, zero-deforestation, and smallholder empowerment initiatives to mitigate environmental impact, protect biodiversity, and improve socio-economic conditions in palm oil-producing regions. Moreover, the expanding market for natural and organic products is driving demand for certified sustainable palm oil (CSPO) and palm oil derivatives such as palm kernel oil and palm olein in food formulations, personal care products, and pharmaceuticals, enabling manufacturers to meet regulatory requirements and consumer expectations for transparency and sustainability. Additionally, the growing interest in biofuels and renewable energy sources is driving the adoption of palm oil-based biodiesel as a low-carbon alternative to fossil fuels, supporting efforts to reduce greenhouse gas emissions and combat climate change. Furthermore, the integration of palm oil derivatives into oleochemicals such as fatty acids, glycerol, and surfactants is driving innovation in specialty chemicals, lubricants, and industrial applications, creating opportunities for market players to diversify their product portfolios and address emerging market needs for sustainable, bio-based solutions. Overall, the palm oil market is undergoing transformation driven by sustainability initiatives, regulatory changes, and consumer awareness, paving the way for a more sustainable and responsible palm oil industry in the future.
The market report analyses the leading companies in the industry including Archer Daniels Midland Company, Asian Agri, IJM Corp Berhad, IOI Corp Berhad, Kuala Lumpur Kepong Berhad, Kulim Berhad, PT Sampoerna Agro, PT. Bakrie Sumatera Plantations tbk, Sime DarBy Plantation Berhad, United Plantations Berhad, Univanich Palm Oil Public Company Ltd, Wilmar International Ltd.
A prominent trend in the palm oil market is the increasing demand for sustainable sourcing practices driven by consumer awareness, regulatory pressure, and corporate sustainability commitments. As concerns over deforestation, habitat destruction, and human rights abuses associated with palm oil production grow, there is a heightened emphasis on adopting sustainable palm oil practices that minimize environmental impact, protect biodiversity, and promote social responsibility. This trend has led to the development of certification schemes such as the Roundtable on Sustainable Palm Oil (RSPO), which aim to certify palm oil producers that adhere to stringent sustainability criteria. Additionally, consumer preferences for products labeled as "sustainable," "ethical," or "responsibly sourced" have incentivized companies across various industries to prioritize the use of certified sustainable palm oil in their products. The increasing demand for sustainable palm oil reflects a broader shift towards environmentally and socially responsible sourcing practices, driving market growth and influencing industry dynamics in the palm oil sector.
A key driver propelling the palm oil market is its versatility and ubiquity in various industries, including food, cosmetics, and biofuels. Palm oil is widely used as a cooking oil, ingredient in processed foods, and emulsifier in cosmetics and personal care products due to its unique properties such as stability, texture enhancement, and long shelf life. Additionally, palm oil is a significant feedstock for the production of biodiesel, serving as a renewable and cost-effective alternative to fossil fuels in the transportation sector. The diverse applications and functional properties of palm oil make it an essential ingredient in numerous consumer products and industrial processes, driving consistent demand and market growth. Furthermore, the expanding global population, rising disposable incomes, and changing dietary preferences in emerging economies contribute to the increasing consumption of palm oil, positioning it as a vital commodity in the global market.
An opportunity for market development lies in the innovation and adoption of sustainable palm oil production and processing technologies that enhance environmental stewardship, social responsibility, and economic viability. Palm oil producers and industry stakeholders can leverage advancements in agricultural practices, such as precision farming, agroforestry, and integrated pest management, to minimize the ecological footprint of palm oil plantations and mitigate environmental degradation. Additionally, investments in research and development of sustainable palm oil processing methods, such as methane capture from palm oil mill effluent and utilization of by-products for bioenergy production, can contribute to reducing greenhouse gas emissions and promoting circular economy principles in the palm oil industry. By embracing innovation and sustainability, palm oil producers can address environmental and social challenges while meeting the growing demand for responsibly sourced palm oil, unlocking new market opportunities and ensuring long-term viability in the palm oil sector.
The Conventional segment is the largest segment in the Palm Oil Market due to diverse key factors contributing to its dominance. Conventional palm oil production accounts for the majority of global palm oil output, driven by its widespread cultivation and established supply chain infrastructure. Conventional palm oil cultivation involves the use of conventional agricultural practices, including the application of synthetic fertilizers and pesticides, to maximize yields and ensure efficient production. This method allows for higher productivity and cost-effectiveness compared to organic palm oil production, making conventional palm oil more economically viable for large-scale cultivation and commercialization. Additionally, conventional palm oil is utilized across various industries, including food processing, cosmetics, pharmaceuticals, and biofuels, due to its versatility, affordability, and wide availability. The well-established distribution networks and market demand for conventional palm oil products further contribute to the dominance of the Conventional segment in the Palm Oil Market. While there is growing consumer interest in organic and sustainably produced palm oil, the Conventional segment maintains its leading position due to its extensive production capacity, accessibility, and market acceptance.
The Fractionated Palm Oil segment is the fastest growing segment in the Palm Oil Market due to diverse key factors driving its rapid expansion. Fractionated palm oil is derived from crude palm oil (CPO) through a process called fractionation, which separates the oil into different fractions based on their melting points. This process yields fractions such as palm olein, palm stearin, and palm mid-fraction, each with distinct properties and applications. Fractionated palm oil offers diverse advantages over traditional palm oil products, including improved stability, enhanced functionality, and increased versatility in various food and non-food applications. In the food industry, fractionated palm oil is widely used in the production of margarine, shortenings, confectionery, bakery products, and frying oils due to its resistance to oxidation and ability to remain liquid at room temperature. In addition, fractionated palm oil is favored for its ability to create smoother textures and better mouthfeel in food products compared to standard palm oil. Additionally, fractionated palm oil finds applications in non-food industries such as cosmetics, personal care products, pharmaceuticals, and oleochemicals, where its stable and uniform properties make it an attractive ingredient. With the growing demand for specialty fats and oils with improved functionality and performance characteristics, the Fractionated Palm Oil segment experiences significant growth in the Palm Oil Market, driven by its versatility and wide-ranging applications across industries.
The Biofuel & Energy segment is the fastest growing segment in the Palm Oil Market due to diverse key factors driving its rapid expansion. Palm oil is increasingly utilized as a feedstock for the production of biodiesel, a renewable and sustainable alternative to fossil fuels. With growing concerns over climate change, air pollution, and energy security, governments and industries worldwide are seeking to reduce their reliance on conventional petroleum-based fuels and transition towards cleaner and greener energy sources. Palm oil-based biodiesel offers diverse advantages, including lower greenhouse gas emissions, biodegradability, and compatibility with existing infrastructure, making it an attractive option for blending with diesel fuel or as a standalone fuel. Additionally, palm oil-based biodiesel can help reduce dependence on imported fossil fuels and promote energy independence for countries with significant palm oil production. In addition, advancements in biodiesel production technologies, such as enzymatic transesterification and continuous-flow processes, enhance the efficiency and cost-effectiveness of palm oil conversion into biodiesel, further driving its adoption in the biofuel sector. As governments implement policies and regulations to promote renewable energy adoption and combat climate change, the demand for palm oil-based biodiesel is expected to surge, propelling the growth of the Biofuel & Energy segment in the Palm Oil Market.
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
Regions Included
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Archer Daniels Midland Company
Asian Agri
IJM Corp Berhad
IOI Corp Berhad
Kuala Lumpur Kepong Berhad
Kulim Berhad
PT Sampoerna Agro
PT. Bakrie Sumatera Plantations tbk
Sime DarBy Plantation Berhad
United Plantations Berhad
Univanich Palm Oil Public Company Ltd
Wilmar International Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Palm Oil Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Palm Oil Market Size Outlook, $ Million, 2021 to 2030
3.2 Palm Oil Market Outlook by Type, $ Million, 2021 to 2030
3.3 Palm Oil Market Outlook by Product, $ Million, 2021 to 2030
3.4 Palm Oil Market Outlook by Application, $ Million, 2021 to 2030
3.5 Palm Oil Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Palm Oil Industry
4.2 Key Market Trends in Palm Oil Industry
4.3 Potential Opportunities in Palm Oil Industry
4.4 Key Challenges in Palm Oil Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Palm Oil Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Palm Oil Market Outlook by Segments
7.1 Palm Oil Market Outlook by Segments, $ Million, 2021- 2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
8 North America Palm Oil Market Analysis and Outlook To 2030
8.1 Introduction to North America Palm Oil Markets in 2024
8.2 North America Palm Oil Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Palm Oil Market size Outlook by Segments, 2021-2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
9 Europe Palm Oil Market Analysis and Outlook To 2030
9.1 Introduction to Europe Palm Oil Markets in 2024
9.2 Europe Palm Oil Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Palm Oil Market Size Outlook by Segments, 2021-2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
10 Asia Pacific Palm Oil Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Palm Oil Markets in 2024
10.2 Asia Pacific Palm Oil Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Palm Oil Market size Outlook by Segments, 2021-2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
11 South America Palm Oil Market Analysis and Outlook To 2030
11.1 Introduction to South America Palm Oil Markets in 2024
11.2 South America Palm Oil Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Palm Oil Market size Outlook by Segments, 2021-2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
12 Middle East and Africa Palm Oil Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Palm Oil Markets in 2024
12.2 Middle East and Africa Palm Oil Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Palm Oil Market size Outlook by Segments, 2021-2030
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Archer Daniels Midland Company
Asian Agri
IJM Corp Berhad
IOI Corp Berhad
Kuala Lumpur Kepong Berhad
Kulim Berhad
PT Sampoerna Agro
PT. Bakrie Sumatera Plantations tbk
Sime DarBy Plantation Berhad
United Plantations Berhad
Univanich Palm Oil Public Company Ltd
Wilmar International Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Nature
Organic
Conventional
By Product
CPO
RBD Palm Oil
Palm Kernel Oil
Fractionated Palm Oil
By End-User
Food & Beverage
Personal Care & Cosmetics
Biofuel & Energy
Pharmaceuticals
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Palm Oil is forecast to reach $100.3 Billion in 2030 from $72.3 Billion in 2024, registering a CAGR of 5.6%
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Archer Daniels Midland Company, Asian Agri, IJM Corp Berhad, IOI Corp Berhad, Kuala Lumpur Kepong Berhad, Kulim Berhad, PT Sampoerna Agro, PT. Bakrie Sumatera Plantations tbk, Sime DarBy Plantation Berhad, United Plantations Berhad, Univanich Palm Oil Public Company Ltd, Wilmar International Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: Revenue (USD); Volume