Asia Pacific Palm Oil Market

Asia Pacific Palm Oil Market Size Analysis:

Asia Pacific Palm Oil Market size was worth USD xx billion in 2020 and estimated to grow at a CAGR of x%, to reach USD xx billion by 2026. The Asia Pacific Palm Oil market is developing at an exceptionally quick pace. Palm oil is an economically important and versatile vegetable oil used as a raw material for both food and nonfood products.

Palm oil is used all over the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders, and cosmetics. Palm oil is also used as a first-generation biofuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most palm oil is produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight and plenty of rain in order to maximize crop production.

Asia Pacific Palm Oil Market Driving Factors:

The significant driver is 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. Properties such as cooking, which can be used in the high temperature; Its smooth and creamy texture and having no smell make it a perfect ingredient for many recipes like it is used in the bakery (especially for biscuits) has led to surge in growth of this industry.  It has a natural perspective effect which helps the longevity of the food by resisting the oxidation that spoils them.

Asia Pacific Palm Oil Market Segmentation:

The Asia Pacific Palm Oil market is segmented on the basis of product type and region.

Based on the Application, the market is segmented into edible oil, cosmetics, biodiesel, lubricants, surfactants, and other applications. The edible oil segment is expected to witness strong growth in the upcoming years owing to health concerns regarding trans-fat consumption.

Based on Region, the Asia Pacific is geographically segmented into China, India, Japan, South Korea, Taiwan, Australia, and Southeast Asia. China and India are likely to boost the market because of a huge population. Also, Asia Pacific is the largest growing segment.

Leading Key Companies covered in this market report are:

1. Golden Agri Resources Limited
2. Godrej Agrovet Limited
3. PT Astra Agro Lestari Tbk
4. Cargill Inc
5. United Palm Oil Industry Public Company Limited
6. Wilmar International Limited
7. Sime Darby
8. IOI Corp
9. London Sumatra
10. Kulim Bhd
11. Musim Mas Group
12. Alami Group
13. ADM