About Palm Oil Derivatives
Palm and its derivatives encompass palm oil, kernel oil, and palm kernel cake which is consumed globally, owing to its application in biodiesel and plant-derived fats. Palm Oil is widely used vegetable oil and it is a common ingredient in margarine, biscuits, instant noodles, cereals, bread, lipsticks, chocolates, candles, shampoos, detergents, and ice-cream. It is one of the world's frequently consumed edible vegetable oil derived from the mesocarp of the oil palms. Palm oil is very cheap compared to other vegetable oils. Palm kernel oil is the dominant source of the Palm oil derivatives. Further, the inclination of consumers towards bio-based chemicals and additives can inflate the market size of Global Palm Oil Derivatives.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.67% |
The Global Palm Oil Derivatives is fragmented with numerous players. With the growing manufacturing capabilities owing to availability of cultivable land and favorable climatic conditions is expected to attract companies and stimulate palm oil derivatives market. Moreover, Companies are expanding its product portfolio, For instance, in February 2017, Evonik company has substantially expanded its range of cosmetic ingredients certified in accordance with the standard of the Roundtable on Sustainable Palm Oil (RSPO - MB). Customers in the cosmetics industry now have available more than 50 certified palm-oil based raw materials, including several specialties. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Palm Oil Derivatives market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill Incorporated (United States), Croda International plc (United Kingdom), Kubota Corporation (Japan), Felda Holdings Berhad (Malaysia), Sarawak Oil Palms Berhad Group of Companies (Malaysia), Veolia Water Technologies (United Arab Emirates), The Clorox Company (United States), Evonik Industries AG (Germany), London Sumatra Indonesia (Indonesia) and BASF SE (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Alami Commodities Sdn Bhd (Malaysia), Wilmar International Ltd. (Singapore), United Palm Oil Industry Public Co.Ltd. (Thailand) and Golden Agri-Resources (Singapore).
Segmentation Overview
AMA Research has segmented the market of Global Palm Oil Derivatives market by Type (Food Grade, Cosmetic Grade and Industrial Grade), Application (Edible oil, Food, Cosmetics, Agrochemical, Bio-diesel, Personal care, Lubricants, Surfactants and Others) and Region.
On the basis of application, Bio diesel segment is dominating the market in the year 2023On the basis of geography, the market of Palm Oil Derivatives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Sale will boost the Palm Oil Derivatives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Palm Oil in Preventing Many Diseases like Cancer, Aging, Vitamin A Deficiency, Malaria, High Blood Pressure, and Cholesterol and Rising Palm Oil Yield and High Investment in R&D Related Activities
Market Growth Drivers:
The Shift in Consumer Preferences Towards Bio-based Products, Increase in Bio-fuel Demand and Fuel Generation and Rise in the Cumulative Land Area of Palm Oil Plantation
Challenges:
Alternatives Available in the Market for Palm Oil such as Rapeseed Oil, Soyabean Oil, etc.
Restraints:
Stringent Government Regulation For Product Approval and High Packaging and Transport Cost
Opportunities:
Improving Economic Conditions and Product Innovations Along With Technological Advancements
Market Leaders and their expansionary development strategies
In February 2023, Fastmarkets acquired of Palm Oil Analytics, a Singapore-based provider of prices, data and news on palm oil and its derivative products.The acquisition of Palm Oil Analytics allows Fastmarkets to accelerate plans to support trade and investment decisions across vegetable oil markets, including in biofuels and renewable energy markets.
In March 2024, Bursa Malaysia Derivatives Exchange (BMD), the world's largest palm oil exchange, is slated to launch a soy oil futures contract on March 18 to facilitate arbitrage between soy oil and palm oil contracts.
Key Target Audience
Palm Oil Derivatives Manufacturers, Oil Industry, Government and Regulatory Bodies, Industry Associations and Downstream Vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.