Global Palm Oil Market is anticipated to hold a value worth US$ 51 Billion in 2032, Fact.MR
Source: The DairyNews
The global palm oil market is anticipated to secure US$ 34.33 Billion in 2022. During the forecast period of 2022-2032, the market for palm oil is expected to display a CAGR of 4.04% while securing US$ 51 Billion.
This growth is attributed to the expansion of the food processing sector and the increasing population in developing markets. The surge in demand for packaged food, bakery products, and convenience food is expected to be a driving force for palm oil demand during the forecast period.
The global popularity of cakes, snacks, and pastries, driven by their delectable flavors, has led to an increased application of palm oil in the production of these packaged foods.
Initiatives to broaden the application of palm oil are expected to further benefit the industry. For example, in August 2021, DiBiz, a Malaysian tech firm, launched the Trustparent Marketplace, the world's first online marketplace for sustainable palm oil. This platform aims to boost the sales of environmentally compliant products by connecting buyers and sellers across the palm oil supply chain.
Noteworthy contributions to market growth are anticipated from developing countries such as India, China, and Japan. In August 2021, the Indian Prime Minister, Shri Narendra Modi, approved the launch of the National Mission on Edible Oils – Oil Palm (NMEO-OP), focusing on the Northeast region and the Andaman and Nicobar Islands. This centrally sponsored scheme aims to benefit oil palm farmers, drive capital investment, and create employment opportunities.
Despite these positive trends, challenges such as high price volatility and the presence of substitutes may impede the growth of the palm oil market. Additionally, environmental concerns, particularly related to deforestation, are identified as salient factors likely to hinder market growth during the assessment period.
· The global palm oil market is expected to have secured US$ 33 Billion in 2021.
· The palm oil market in the Asia Pacific is anticipated to display a CAGR of 7% during the forecast period.
· The palm oil market in North America is expected to have secured US$ 12 Billion, claiming 27% market share
· By end user, the foodservice segment is poised to accrue over 3/5th of total market revenue in 2022
· Global palm oil market is anticipated to experience 1.5x growth from 2022 to 2032
“Expanding food and beverage sector along with rising favorable initiatives taken by various government across the globe is expected to favor the palm oil market growth during the forecast period.” - writes Fact.MR
The global popularity of cakes, snacks, and pastries, driven by their delectable flavors, has led to an increased application of palm oil in the production of these packaged foods.
Initiatives to broaden the application of palm oil are expected to further benefit the industry. For example, in August 2021, DiBiz, a Malaysian tech firm, launched the Trustparent Marketplace, the world's first online marketplace for sustainable palm oil. This platform aims to boost the sales of environmentally compliant products by connecting buyers and sellers across the palm oil supply chain.
Noteworthy contributions to market growth are anticipated from developing countries such as India, China, and Japan. In August 2021, the Indian Prime Minister, Shri Narendra Modi, approved the launch of the National Mission on Edible Oils – Oil Palm (NMEO-OP), focusing on the Northeast region and the Andaman and Nicobar Islands. This centrally sponsored scheme aims to benefit oil palm farmers, drive capital investment, and create employment opportunities.
Despite these positive trends, challenges such as high price volatility and the presence of substitutes may impede the growth of the palm oil market. Additionally, environmental concerns, particularly related to deforestation, are identified as salient factors likely to hinder market growth during the assessment period.
· The global palm oil market is expected to have secured US$ 33 Billion in 2021.
· The palm oil market in the Asia Pacific is anticipated to display a CAGR of 7% during the forecast period.
· The palm oil market in North America is expected to have secured US$ 12 Billion, claiming 27% market share
· By end user, the foodservice segment is poised to accrue over 3/5th of total market revenue in 2022
· Global palm oil market is anticipated to experience 1.5x growth from 2022 to 2032
“Expanding food and beverage sector along with rising favorable initiatives taken by various government across the globe is expected to favor the palm oil market growth during the forecast period.” - writes Fact.MR
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
