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Surging Biofuel Production Supports the Asia-Pacific Palm Oil Market

Date: 9th Oct 2021 | Category: Food & Beverage

The Asia-Pacific palm oil market is forecasted to reach US$39.64 billion in 2025, experiencing growth at a CAGR of 6%, during the period spanning from 2021 to 2025. Growth in the Asia-Pacific palm oil market is supported by factors such as growing population, surging biofuel production, expanding cosmetics sector and escalating application in various markets. However, the market growth would be challenged by growing labour challenges, rising economic and social issues and increasing environmental concerns. The market is anticipated to experience certain trends like accelerating baked goods & confectionery retail sales, rapid adoption in laundry detergent market, rising initiatives to ban Trans Fat and growing shift towards palm oil crop transplanting. 

Palm oil is an edible vegetable oil that is extracted from the flesh or pulp (the outer part) of the fruit of the oil palms. It is a versatile oil, used as a raw material for both food (cooking oil, shortenings, margarine, and as a feedstock for biofuel) and non-food industries (consumer products, including soaps, cosmetics, candles, and detergents). 

The Asia-Pacific palm oil market by region can be segmented into the following regions: Indonesia, Malaysia, Thailand, India, China, Pakistan, Bangladesh and Philippines. In 2020, the dominant share of palm oil production was held by Indonesia, followed by Malaysia and Thailand. The fastest growing country, both in terms of production and consumption, is Indonesia due to increasing palm oil plantation area, favourable government regulations and rising number of edible oil manufacturers engaged in palm oil production activities.  

Scope of the report:

• The report provides a comprehensive analysis of the Asia-Pacific palm oil market segmented on the basis of segmented on the basis of production, consumption, exports and imports with potential impact of COVID-19.

• The major countries such as Indonesia, Malaysia, Thailand, India, China, Pakistan, Bangladesh and Philippines have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Wilmar International Limited, PT Astra International, Tbk, Sime Darby Berhad, Golden Agri-Resources Ltd., Kuala Lumpur Kepong Berhad and IOI Corporation Berhad) are also presented in detail.  

Key Target Audience:

• Palm Oil Manufacturers

• Palm Oil Distributors and Suppliers 

• End Users 

• Consulting Firms & Investment Banks

• Government Bodies & Regulating Authorities