Sustainable Palm Oil Market Size, Share, Growth, Demand, Opportunities and Forecast To 2032
Sustainable Palm Oil Market by Type (Palm Kernel Oil, Fractional Palm Oil, Red Palm Oil, White Palm Oil), Application (Food, Pet Food, Soap and Detergents, Cosmetics), and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2032
Categories: Food & Beverages
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Sustainable Palm Oil Market Overview
The Sustainable Palm Oil is a very adaptable, useful and cheap palm oil and broadly used vegetable oil in the world. It is found in everything from snacks to house cleaners. It carries trade, money, and jobs to producing economies and pays millions of smallholder farmers. The market is mainly driven by the low cholesterol content contained in sustainable palm oil. As palm oil syndicates have been blamed widely for deforestation and human rights, these companies have been capitalizing heavily in technology to boost their credentials in sustainability. Nowadays, technology has been quite influential for this market someplace drones are used for palm counting, detection of diseases and monitoring plantation’s health.
Palm oil cultivation takes merely a little amount of land, making it inexpensive and accessible to consumers. Palm oil is developed as a cash crop in a variety of countries, particularly those whose economies are based largely on agriculture. Additional element driving sustainable palm oil growth is government deforestation rules, as the RSPO has enacted legislation prohibiting producers from damaging the atmosphere and nature. In addition, the use of palm oil as an ingredient is predicted to boost global sales of sustainable palm oil.
The Global Sustainable Palm Oil Market accounted for USD 13,410 Million in 2221 and is expected to reach USD 28,537 Million by 2032, growing at a CAGR of 9.9% from 2022 to 2032.
Japan continues to be the top producer of sustainable palm oil in the Asia Pacific area as a result of the increasing demand for palm oil from the cosmetic business. Demand for sustainably sourced palm oil is growing among various manufacturing industries counting cosmetic care and clothing, food, food service, and retail. The key driver of the global market for palm oil is the increasing consumption of sustainable palm oil among various sectors around the world.
Instance Developments
JOHOR BAHRU, 12 October 2022: Kulim (Malaysia) Berhad (KULIM) announced that it has entered into a two-year purchase agreement of Certified Fresh Fruit Bunch (FFB) with Wild Asia and Eng Lee Heng Trading that will bolster the company’s production of traceable and sustainable palm oil that meets the stringent standards of the Roundtable on Sustainable Palm Oil (RSPO).
JOHOR BAHRU ,August 8, 2022 -Kulim (Malaysia) Berhad (KULIM), through its plantation subsidiary, Mahamurni Plantations Sdn Bhd (MPSB), will build its first palm-fibre oil extraction (PFOE) plant in Sedenak palm oil mill in Johor. As part of its waste to treasure initiative, the PFOE plant extracts oil from mesocarp fibre from the processed fresh fruit bunches to produce red palm oil that can be sold at 85% of the crude palm oil price. It would generate a new income stream for the Group with an estimated RM8 million annually.
03 Jun 2021 -Cargill is building a new US$200 million palm oil refinery in Lampung, Indonesia. The development plans tie into the company’s goal to scale its sustainable palm supply chain and provide verified deforestation-free products to customers.
Sustainable Palm Oil Market Scope:
| Report Data | Sustainable Palm Oil Market |
| Sustainable Palm Oil Market Size 2022 | USD 28,537 million |
| Sustainable Palm Oil Market CAGR 2022 - 2032 | 9.9% |
| Sustainable Palm Oil Market Analysis Period | 2022 – 2032 |
| Sustainable Palm Oil Market Base Year | 2021 |
| Sustainable Palm Oil Market Forecast Data | 2022 – 2032 |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Sime Darby Plantation Sendirian Berhad, Golden Agri-Resources Limited, Kulim Berhad, United Plantation Berhad, New Britain Palm Oil Limited, IOI Corporation Berhad, Cargill, SIPEF Group Belgium, Wilmer International Limited, Kuala Lumpur Kepong Berhad |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Key market Segments | Market by Type Palm Kernel Oil Segment by Application Food |
Frequently Asked Questions
What is the future market value of the Sustainable Palm Oil Market?
The current market value for Sustainable Palm Oil Market is expected USD 28,537 million by 2032
What is the CAGR of the Market?
The Sustainable Palm Oil Market is to grow at a CAGR of 9.9% during the forecast by 2032.
What is the Market segment?
On the basis of type, the Sustainable Palm Oil Market is segmented into Palm Kernel Oil, Fractional Palm Oil, Red Palm Oil, White Palm Oil
Who are the key players operating in the Sustainable Palm Oil Market?
The major players operating in the Sustainable Palm Oil Market are Sime Darby Plantation Sendirian Berhad, Golden Agri-Resources Limited, Kulim Berhad, United Plantation Berhad, New Britain Palm Oil Limited, IOI Corporation Berhad, Cargill, SIPEF Group Belgium, Wilmer International Limited, Kuala Lumpur Kepong Berhad
Base Year:2021
Historical Data:2017-2022
No of Pages:119
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