North America Palm Oil & Palm Oil Derivatives Market was worth USD xx billion in 2023 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2028
North America Palm Oil & Palm Oil Derivatives Market Overview
Palm oil is one of the world's most used edible vegetable oil derived from the mesocarp of the oil palms. It is different from palm kernel oil and coconut oil derived from the kernel of the oil palm and coconut palm respectively. Palm oil is very cheap compared to other vegetable oils such as soybean, groundnut and rapeseed with various applications in food, cosmetics, lubricants, surfactants and others. It is also used as a first-generation biofuel and preventing many diseases like cancer, aging, vitamin A deficiency, malaria, high blood pressure and cholesterol.Palm oil is naturally reddish in colour because of pigment stems from antioxidants known as carotenoids including high beta-carotene content. Palm kernel oil is the dominant source of the Palm oil derivatives. Palm oil derivatives and fractions are used in food industry as preservatives, antioxidants and sweeteners, in industrial products such as lubricants, insect repellents, adhesives and paints, in personal and healthcare products as hair sprays, shampoo, conditioner, and cosmetics. It is also used in the production of renewable fuels in the transport, power, heating and cooling sectors.The North America Palm Oil & Palm Oil Derivatives Market is mainly driven by the growing health consciousness related to trans-fat consumption and wide uses in the manufacture of confectionary food, pharmaceuticals, cleaning agents and cosmetics. In addition, low price, rise in bio-fuel demand, improving economic conditions, product innovations along with technological advancements, changing life-style and high investments by the leading companies are also driving the market. However, stringent rules for the product approval and high packaging and transport costs for exporting into other countries are hampering the growth of the market.
on the basis of
type
application
region
Palm oil derivatives are segmented into
crude palm oil
palm kernel oil
palm kernel cake
Oleochemicals
The crude oil segment was a leading segment followed by the kernel oil and cake.
The application segment consists of
edible oil
food
cosmetics
agrochemical
bio-diesel
personal care
lubricants
surfactants
Edible oil is expected to have the largest share in the Global market followed by surfactants and lubricants. Biodiesel is the fastest growing segment due to the increasing usage of biodiesel in power and fuel generation.
The North America market has been geographically segmented into US and Canada. The market is mainly driven by the increase in application in personal care industry and companies focusing for the development of the products.
Cargill Inc.,
United Palm Oil Industry Public Company Limited
Sime Darby, Wilmar International Ltd.
Godrej Agrovet Limited
Golden Agri-Resources Ltd.
PT Astra Agro Lestari Tbk
IOI Corp, London Sumatra
Kulim Bhd
Trade Winds Plantation
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