Rising Demand for Sustainable Palm Oil Drives the Global Palm Oil Market, According to a New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) March 10, 2015

Follow us on LinkedIn – Palm oil continues to be the largest consumed vegetable oil worldwide. Palm oil is extensively used in various food products such as bakery, biscuits, ice cream, fast foods, and snacks, among others. Palm oil is also used in manufacturing cosmetics, cleaning products including detergents and soaps, as well as fuel and animal feed products. Additionally, palm oil is used to produce grease, candles and lubricants, and is used as a feedstock to produce biodiesel. Furthermore, palm oil is a suitable replacement for mineral oils in power stations. Palm oil’s fatty acid derivatives are used to produce cosmetics, bactericides, pharmaceuticals as well as water-treatment products.

Factors such as improving economic conditions, rising living standards and changing eating habits in emerging countries, and growing demand for vegetable oil as a feedstock for biodiesel production, are encouraging a robust outlook for palm oil. Other factors driving market growth include the US ban on trans-fat foods that is resulting in rapid shift in consumption from soybean oil to palm oil, and European Union’s strict regulations against genetically modified (GM) food products. The low price of palm oil compared to other vegetable oils such as rapeseed and soy oil and shift from soybean to palm in acreage for bioethanol production also augurs well for the market. Palm oil processing is perceived as environmentally unsafe with negative implications for public health, rainforest and wildlife. However, in response to these concerns, major palm oil producing countries such as Indonesia and Malaysia are introducing certification programs and standards ensuring sustainable palm oil production. Leading palm oil producing companies are steadily improving the environmental and social sustainability of their operations in accordance with various domestic and global legislative directives.

As stated by the new market research report on Palm Oil, Asia-Pacific represents the largest producer and consumer worldwide. Growing at a CAGR of 3.2% over the analysis period, Asia-Pacific also constitutes the fastest growing regional market led by growing population, changing consumption patterns, growing disposable income among urban and rural dwellers, increasing palm oil applications in edible and non-edible sectors and rising demand from oleochemicals. Production in the region increased significantly in recent years driven by the increase in cumulative land area of palm oil plantations, rising oil palm yield, and investments in technology and R&D related activities.

Key players in the market include Agropalma Group, Alami Vegetable Oil Products Sdn Bhd, Archer Daniels Midland Company, Asian Agri, Boustead Holdings Berhad, California Oils Corporation, Carotino Sdn Bhd, Fuji Vegetable Oil Inc., Genting Plantations Berhad, Golden Agri-Resources Ltd., Intercontinental Specialty Fats Sdn Bhd, IOI Group Berhad, New Britain Palm Oil Ltd., PT Astra Agro Lestari Tbk, PT Darmex Agro, PT Indofood Sukses Makmur Tbk, PT Musim Mas, Siat Group of Companies, Sime Darby Sdn Berhad, United Plantations Berhad, and Wilmar International Limited, among others.

The research report titled “Palm Oil: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for palm oil consumption in Thousand Metric Tons for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, Pakistan, and Rest of Asia-Pacific), Latin America (Brazil, Colombia, Mexico, and Rest of Latin America), and Rest of World. Key end-use applications analyzed in the report include Food Applications and Industrial Applications.

For more details about this comprehensive market research report, please click here

About Global Industry Analysts, Inc.



Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

Global Industry Analysts, Inc.



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