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SAN FRANCISCO , July 27, 2022 /PRNewswire/ --  According to Grand View Research, Inc., the global palm oil market is anticipated to reach USD 98.9 billion by 2030 and is expected to expand at a CAGR of 5.1% from 2022 to 2030. The market growth is driven by the surging demand for organic, eco-friendly, and sustainable products. Furthermore, the market has found widespread application in cosmetic and personal care product industries. Palm oil derived from mesocarp is edible. Malaysia and Indonesia are the largest producers and exporters of crude palm oil. The Asia Pacific has the largest consumer base of palm oil due to its primary application in food preparation.

Key Industry Insights & Findings from the report:

Read 106-page full market research report, "Palm Oil Market Size, Share & Trends Analysis Report By Nature (Organic & Conventional), By Product (RBD Palm Oil), By End-use (Pharmaceuticals), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Palm Oil Market Growth & Trends

Oil prices are presently hitting all-time highs globally, creating panic buying in regions of high demand, particularly sunflower oil, food oil, and palm oil. The scanty crop harvests due to droughts in Argentina and Canada in 2021 have decimated the supply chain demand. Moreover, the recent inflation has spilled over the global palm oil industry. Meanwhile, a rise in investment in China and other parts of Southeast Asia is fueling the overall industry growth. In addition, increasing awareness about the health benefits of consuming palm oil including the adoption of a nutritional diet is bolstering demand for palm oil in recent years.

The global product market is highly competitive in nature and has a developed value chain. This is attributed to the presence of an established network of traders, distributors, and manufacturers. The product market has an expansive range of end-use applications such as food & beverages, biodiesel, and personal care & cosmetics. The fractionated palm oil product segment captured the largest revenue share in 2021. This segment is anticipated to expand by 2030 due to its extensive utilization by consumers.

Grand View Research has segmented the global palm oil market report based on basis of nature, product, end-use, and region:

Palm Oil Market - Nature Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

Palm Oil Market - Product Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

Palm Oil Market - End-use Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

Palm Oil Market - Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

List of Key Players in the Palm Oil Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Food & Beverages Research Reports.

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: https://www.grandviewresearch.com Grand View Compass | Astra ESG Solutions  Follow Us: LinkedIn | Twitter

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SOURCE Grand View Research, Inc.

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