Palm Oil Market Analysis:
Expanding demand from various industries is expected to remain a key driving variable for the worldwide palm oil market. Governments and related organizations across the globe have taken measures to curb consumption of trans-fat in recent years.
Laws and Regulations concerning conventional fuel blending with bio-based fuel and growing palm oil usage as bio-diesel has been gaining considerable importance over the recent years. Growing environmental issues along with changing consumer preferences towards bio-based cosmetics, lubricants and surfactants have also contributed to palm oil demand.
All of the above mentioned factors are anticipated to contribute towards the enhancement of global palm oil market. Technological advancement and R&D initiatives to develop sustainable ways of production create a large number of opportunities for the industry participants. Processing operations to deliver high-quality products such as oleo chemicals guarantee adequate growth opportunities for palm oil industry participants over the forecast period.
Palm Oil Market Analysis - Derivative Insights:
Crude palm oil demand dominated the global market in 2016. Increasing applications of edible oil, cosmetics, surfactants, biodiesel and lubricants is likely to drive the demand over the forecast period. Palm kernel cakes are mostly used in animal feed industry. Increase in demand for animal feed industries in regions such as North America and Asia Pacific are likely to stimulate the demand for this derivative product. The hike in demand in the cosmetics industry is also projected to drive the overall market.
Palm Oil Market Analysis - Application Insights:
Edible oil accounted for the largest share of revenue in the overall market followed by biodiesels, surfactants and lubricants. Growing awareness amongst the consumers regarding health concerns have drifted consumer preferences away from animal fats containing high trans-fat towards low trans-fat.
Growing energy requirements has led to increased use of bio-based fuel. Stringent environmental norms have broadened consumption of bio-based surfactants and lubricants. These trends are projected to boost the industry growth and development. Cost effectiveness coupled with the above-mentioned factors is likely to foster the overall palm oil market.
Palm Oil Market Analysis - Regional Insights:
Asia Pacific palm oil market dominated the global demand in 2016. The markets of Asia Pacific and the Middle East & Africa are expected to witness moderate growth in food applications and other industrial uses.
Central & South America along with few African countries are projected to experience growing manufacturing capabilities. The companies are targeting these markets due to their ideal climatic conditions and available arable land.
Malaysia and Indonesia palm oil industry is expected to dominate the global production scenario over the coming years. They are also the major global manufacturers, covering a huge share of the global trade.
Latest market trends portray growing consumption in these palm producing countries. Such a trend is estimated to develop a supply demand imbalance for the developed regional markets, which entirely rely on imports to cater their domestic demand.
Palm Oil Market Analysis - End Use Landscape:
The end-use landscape includes a list of current and prospective consumers existing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from palm oil market. The major consumers of the product are Pennzoil, Valvoline and Dow Chemicals.
Palm Oil Market Analysis - Competitive Scenario:
The industry exhibits consolidated nature with few companies commanding the global market revenue. Industry competitors are adopting strategies to increase their production base and gain a significant share in the briskly growing regional markets such as Asia Pacific.
This market is highly fragmented due to potential threat of new entrants, though environmental regulations act as major hindrance to entry. Some of the major players of this industry include United Palm Oil Industry Public Company Limited, PT Astra Agro Lestari , Sime Darby, Golden Agri Resources Limited, Godrej Agrovet Limited, Kulim Bhd, Musim Mas Group, Alami Group and ADM.
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