Palm Oil Market - Forecast(2021 - 2026)
Palm Oil Market Overview Palm Oil Market size is estimated to be $81.9 billion in 2019, growing at a CAGR of 6.0% during the forecast period 2020-2025. Palm Oil an edible vegetable oil that is derived from the mesocarp (reddish pulp) of the fruit of the oil palms. Two types of oil can be produced, crude palm oil comes from squeezing the fleshy fruit, and palm kernel oil which comes from crushing the kernel, or the stone in the middle of the fruit. Palm oil is used as a cooking oil and is also added to many ready-to-eat foods in daily grocery store. Growing consumer awareness regarding positive health benefits of palm oil, changing consumption habits of consumers towards nutritional diet and increasing demand for edible oils are driving the market growth in recent years. In addition, major market development of key players like Sime Darby and Asian Agri are other factors driving the growth of the market. Palm Oil Industry Analysis is based on product, distribution channel, end use an...