Palm oil is important vegetable oil in the market and is essentially grown in tropical countries. Originated around West Africa, it is a high-quality oil obtained from oil palm trees. While they are primarily utilized in foods in underdeveloped economies, they have a wide variety of versatile applications. They are found in products such as detergents, soaps, skin-care products, lipsticks, and ice cream, among others. In the twenty-first century, biofuel is a robustly increasing the application sector.
According to the report analysis, ‘Malaysia Palm Oil Market Outlook to 2018 - Demand for Bio Fuel to Drive Production’ states that the production of palm oil has registered the global vegetable oil market over the years, registering for nearly ~ share in world vegetable oil production during 2012. The worldwide introduction of palm oil has augmented from ~ million tons during 2008 to almost ~ million tons during 2012. Malaysia's Palm Oil Industry which is profoundly dependent on the production and yield of palm oil and its products accounted the revenues of USD ~ million in 2012. Even so with the deduction in prices of palm oil, the revenues diminished by 19.44% compared to 2011. The several factors which have been propelling the market over the period 2008-2013 are the growing demand for oils and fats, the economic benefits of palm oil, the non-food application of palm oil. The Malaysia Palm Oil Industry accounted a negative CAGR of 4.7% from USD 2,657.14 million in 2008 to USD ~ million in 2013.
The Malaysia palm oil industry comprises eight foremost segments namely crude palm oil, crude palm kernel oil, palm kernel, palm kernel cake, palm olein, palm stearin, biofuels, and oleochemicals. Introduction of crude palm oil augmented at a CAGR of 1.62% from ~ thousand tons during 2008 to ~ thousand tons in 2013. Landholdings of oil palm plantations in Malaysia are classified amongst government, private estates, state, and smallholders. The greatest share of landholdings was under private estates entailing 60.3% of Malaysia’s palm oil planted area in 2008 which had augmented to ~% in 2013. The land under smallholders had developed from ~ hectares in 2008 to ~ hectares in 2013.
The Malaysia palm oil industry comprises of several establishments such as mills, refineries, and oleochemical plants which together undertake palm oil extraction and processing. The number of FFB mills across Malaysia in 2008 was ~ which augmented to ~ in 2013. The capacity of the refineries during 2008 was reported as 19.2 million tons which increased to ~ million tons in 2013.
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In terms of competition, the Malaysian palm oil industry is extremely fragmented. The three major players of this industry in terms of market share are Felda Global Ventures, Sime Darby Berhad and Trade winds plantations. The revenues of FGV were reported as ~ MYR million during 2013. The palm oil industry in Malaysia is transforming at a brisk rate. Technological innovations and mergers as well as competitive pressures from Indonesia have been progressively changing the industry. Revenues from the palm oil industry in Malaysia are projected to expand.
Malaysia palm oil market is being propelled by the growing population leading to an augment in the per capita consumption. With governments, attempting to curb trans-fat consumption, the industry has received a further upward push.
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Malaysia Palm Oil Market Analysis
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