The palm oil is an edible vegetable oil obtained from mesocarp of oil palms. The oil is made in reference to rule of round on sustainable palm oil (RSPO). RPSO is an organization which is established for transforming the markets for making a sustainable palm oil as a norm. The sustainable palm oil is red in color due to high amount of beta carotene content in it. The advantage associated to being low in cholesterol content has led to sustainable palm oil driving the primary force fueling the market growth over the sustainable palm oil market. Moreover, there have been rise in number of cardiovascular disease patients globally, this has led to surge in demand for sustainable palm oil. The palm oil wide scale applications over a variety of industries have led to production of key products such as ice cream, soaps, lipstick, detergents, and others, is also expected to propel the growth of sustainable palm oil market over the forecast period.
According to study, “Global Sustainable Palm oil Market to reach USD 29.6
billion by 2026” the key companies operating in the global
sustainable palm oil market are Golden Agri-Resources Limited, United
Plantation Berhad, Sime Darby Plantation Sendirian Berhad, New Britain Palm Oil
Limited, Kulim Berhad, Wilmer International Limited, IOI Corporation Berhad,
Kuala Lumpur Kepong Berhad, Cargill, SIPEF Group Belgium.
Based on the availability of the types of the
palm oil, sustainable palm oil market is segmented into palm kernel oil, red
palm oil, fractional palm oil, and white palm oil. In addition, based on
application, market is segmented into food, soap, pet food, and detergents, and
cosmetics. The food segment is further sub-segmented into the bakery, ice cream
& other frozen desserts, confectionery products, and margarine.
The sustainable palm oil market is driven by
supportive government norms & initiatives to support sustainable palm oil
production, followed by rise in utilization of palm oil as an ingredient and
growth in adoption in various end-user industries such as food and personal
care & cosmetic. However, price volatility of palm oil and low awareness
about the sustainable palm oil’s (SPO) may impact the market. Moreover, health
benefits associated with palm oil and growth in initiatives in palm oil
production by the market players are key opportunities for market.
Based on geography, the European region
dominates the global sustainable palm oil market owing to high demand for palm
oil in end use industry such as food industry in the region. Whereas, the
Asian-Pacific and North-American regions are anticipated to exhibit substantial
growth rate due to presence of top producer and consumer of palm oil namely
Indonesia and Malaysia over the forecast period. In upcoming years, it is
estimated that future of the global market will be optimistic on account of environment-friendliness
of palm oil during the forecast period. The global sustainable palm oil market
is valued approximately US $16.3 billion in 2019 and is likely to grow with a
healthy growth rate of more than 9.17 % over the forecast period 2020 to 2026.
For
More Information, refer to below link:-
Global
Sustainable Palm Oil Market
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