Middle East And Africa Palm Oil Market

Middle East and Africa Palm Oil Market Size and Growth

Middle East and Africa Palm Oil Market is worth USD 5.2 billion in 2022 and estimated to grow at a CAGR of 4.49%, reaching USD 6.4 billion by 2027

Middle East and Africa Palm Oil Market Overview

The Middle East and Africa 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, and 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.The significant driver is improving economic conditions, rising living standards, 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 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 (specially 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.

Middle East and Africa Palm Oil Market Segmentation

The Middle East and Africa Palm Oil market is segmented

Based on application,

• edible oil

• cosmetics

• biodiesel

• lubricants

• surfactants

Edible oil segment is expected to witness strong growth in upcoming years owing health concerns regarding trans-fat consumption.

Middle East and Africa Palm Oil Market Regional Analysis

• UAE

• Israel

• KSA

• South Africa

• Egypt

Geographically, market is further segmented into Middle East and Africa. Middle East and Africa has an untapped market and key players are slowly expanding to this region which is the main reason for the growth of market in this region.

Middle East and Africa Palm Oil Market Key players

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. Musim Mas Group

11. Alami Group 

ADM