The
global palm oil market is driven primarily by the rising awareness
about its health benefits, according to a new report from
Transparency Market Research (TMR). The report examines the
historical development trajectory of the global palm oil market in
detail and presents studied forecasts regarding the market’s
development in the coming years. The report uses industry-standard
analysis tools to ensure the accuracy of the predictions, which are
based on a solid analysis of the palm oil market’s present and past
figures. The report is titled ‘Palm Oil Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024.’
Download
exclusive Sample of this
report:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1005
Palm
oil is one of the most popular vegetable oils due to its low trans
fat content and relatively inexpensive production process. As an
effective vegetable oil, palm oil is primarily used in the food and
beverage and cosmetics industries, though other applications of palm
oil are rising to the fore. Bakery products such as biscuits and
breads, processed and ready-to-eat foods such as instant noodles,
chocolate, ice cream, and cereals are among the leading applications
of palm oil in the food and beverage industry, while lipsticks,
detergents, and candles are some of its other key applications.
One
of the prime drivers for the global palm oil industry is the
cost-effectiveness of palm plantations, which yield more oil per
hectare than any other source of vegetable oil. Palm trees also live
longer than most other vegetable oil crops, making it profitable as
well as sustainable to establish a foothold in the palm oil industry.
Regionally,
Asia Pacific is the leading contributor to the global palm oil
market. This is primarily due to the dominance exhibited by Indonesia
and Malaysia, which are likely to remain the leading producers of
palm oil in the coming years. Southeast Asia is also one of the
leading consumers of palm oil, thanks to the steady demand for
noodles and the rising demand for various modern cosmetics.
On
the other hand, the adverse environmental impact of oil palm
plantations is likely to constrain the global
palm oil market in the coming years. In leading palm oil
producers such as Indonesia, Malaysia, and Thailand, as well as in
African palm oil producing countries such as Benin, palm plantations
have often encroached upon rainforest areas. The use of peat land for
oil palm plantations, which requires drainage of the area and harms
the local wildlife, has also become common in recent years. This has
led to public opposition, which is likely to remain strong over the
coming years.
The report examines the competitive landscape of the global palm oil market by profiling leading players such as Boustead Group, Alami Group, ADM, Musim Mas Group, and the United Palm Oil Industry Public Company Limited.
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