New York, NY, April 12, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Sustainable Palm Oil Market By Type (Palm Kernel Oil, Crude Palm Oil, and Others), By End-User (Edible Oil, Cosmetics, Surfactants, Bio-diesel, and Others), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”.
“According to the research report, the global Sustainable Palm Oil Market was estimated at USD 15,778 Million in 2019 and is expected to reach USD 30,100 Million by 2026. The global Sustainable Palm Oil Market is expected to grow at a compound annual growth rate (CAGR) of 9% from 2019 to 2026”.
Sustainable Palm Oil Market: Overview and Definition
Palm oil is a versatile and cheap form of vegetable oil that is extensively used across the globe. However, the growing supply and demand for palm oil have led to deforestation and community clashes in the tropical countries cultivating oil palms.
In addition to this, the growing demand for palm oil as a substitute for animal products used in personal care products including soap, detergents, shampoo, lotion, and others. Palm oils' low price is likely to make it the perfect alternative for other chemicals or animal products used in cosmetics, which will further supplement the growth of the global Sustainable Palm Oil market. The palm oil plant is also like the kalpavriksha that has every part including empty fruit bunches, palm fronds, palm fruit peels, and palm kernel shells used for various purposes.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Sustainable Palm Oil Market?
2) What is the market size, share of the Sustainable Palm Oil Market?
3) Who are the top market players in Sustainable Palm Oil Market?
4) What will be the future market of the Sustainable Palm Oil Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Sustainable Palm Oil Market: Industry Major Market Players
- New Britain Palm Oil Limited
- Sime Darby
- Golden Agri-Resources Limited
- Astra Agro Lestari
- IOI Corporation Berhad
- KUALA LUMPUR KEPONG BERHAD
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Resourceful and cost-effective palm oil is the most extensively used vegetable oil across the globe. However, the increasing use of palm oil has led to deforestation and community conflict in tropical countries with oil palm plantations. Thus, there is a rise in the demand for sustainable palm oil. The high-quality palm oils are used in lipsticks, ice creams, soaps, detergents, food products, cosmetics, and also in biofuel.
Drivers of the Global Sustainable Palm Oil Market
- Increasing demand from myriad end-user industries
Palm oil is a versatile product that can be used not only in foods but also in personal care products and transport fuel. The environment-friendliness of palm oil is anticipated to help propel the global sustainable palm oil market during the forecast period.
Restraints of Global Sustainable Palm Oil Market
- High costs of sustainable palm oil
The low awareness about sustainable palm oil’s (SPO) existence is expected to hamper the growth of the sustainable palm oil market. There are businesses that are not aware of the fundamentals of sustainability or SPO.
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Opportunities for Global Sustainable Palm Oil Industry
- Initiatives to promote sustainable palm oil
Emerging economies such as China & India along with Europe have started taking up promising policy initiatives to help surge the global Sustainable Palm Oil market. The increasing market penetration in the top cultivating regions like Indonesia, Malaysia, and Thailand is the primary factor for market expansion.
Sustainable Palm Oil Market: Key Segment Dominance
In the type segment, Crude Palm Oil holds the majority of the market share owing to its increasing use in the food industry. Crude oil is also referred to as edible oil. Crude oil accounts for 64% of the shares in the global Sustainable Palm Oil market.
The Edible Oil category is predicted to dominate the global Sustainable Palm Oil market during the forecast period. The increasing use of edible oil in cooking, household cleaning agents, and cosmetics helps boom the edible oil category.
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Sustainable Palm Oil Market: Regional Dominance
Europe is expected to dominate the global Sustainable Palm Oil market owing to regions such as the Netherlands, Germany, Spain, and Italy which import sustainable palm and distribute it in the European market. The European Union had imported 7.2 million tons in 2017 for further use in the food industry and the energy sector. These factors are projected to help bolster the growth of the global Sustainable Palm Oil market.
Browse the full “Sustainable Palm Oil Market By Type (Palm Kernel Oil, Crude Palm Oil, and Others), By End-User (Edible Oil, Cosmetics, Surfactants, Bio-diesel, and Others), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026” report at https://www.fnfresearch.com/global-sustainable-palm-oil-market-by-type-palm
The global Sustainable Palm Oil market is segmented into:
Global Sustainable Palm Oil Market: By Type
- Palm Kernel Oil
- Crude Palm Oil
Global Sustainable Palm Oil Market: By End-User
- Edible Oil
Key Insights from Primary Research
- As per our primary research, the lower cost of palm oil production along with the rising demand for palm oil across the globe will supplement the market growth during the forecast period.
- The rising production at the expense of tropical forests such as having a negative impact on some human communities and endangered species is likely to attract manufacturers to adopt sustainable palm oil strategies.
- In the U.S., the use of palm oil in cooking is low but its higher use in packaged products such as cosmetics, household cleaners, and ice creams exhibits the demand for sustainable palm oil across the globe.
- As per the experts, the growing awareness about sustainability to help maintain the supply of raw materials for the future is predicted to surge the market growth.
- Rising demand for palm oil in the various end-user industries will boost the sales of sustainable palm oil during the forecast period.
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