Palm Seeds Oil Market Trends and Forecast
The future of the global palm seeds oil market looks promising with opportunities in the food processing and feed markets. The global palm seeds oil market is expected to grow with a CAGR of 5.4% from 2024 to 2030. The major drivers for this market are growing demand from the food processing & cosmetics industries, increasing consumer preference for sustainable and organic palm oil products, and rising application in biofuels & renewable energy sectors.
• Lucintel forecasts that food grade is expected to witness higher growth over the forecast period.
• Within this market, food processing is expected to witness higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Palm Seeds Oil Market
• Indonesia: The government has set a target to increase palm oil production by 10% by 2025 through improved agricultural practices and sustainability initiatives.
• Malaysia: Sime Darby Plantation announced a partnership with local universities to research and develop high-yield palm seed varieties aimed at boosting production and sustainability.
• Nigeria: Okomu Oil Palm Company has launched a new expansion project to increase its plantation area by 5,000 hectares, aiming to enhance local palm oil output and reduce import dependency.
• Colombia: The Colombian government, in collaboration with private firms, has initiated a $50 million program to promote sustainable palm oil production, targeting a 15% increase in export volumes by 2026.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Palm Seeds Oil Market by Segment
The study includes a forecast for the global palm seeds oil market by type, application, and region.
Palm Seeds Oil Market by Type [Value from 2018 to 2030]:
• Food Grade
• Industry Grade
• Others
Palm Seeds Oil Market by Application [Value from 2018 to 2030]:
• Food Processing
• Feed
• Others
Palm Seeds Oil Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Palm Seeds Oil Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies palm seeds oil companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the palm seeds oil companies profiled in this report include-
• Sinar Mas Group
• PGEO Group Malaysia
• Mewah Group
• Asian Agri
• IOI Corporation Berhad
• Kuala Lumpur Kepong Berhad
• Musim Mas Group
• Sime Darby Plantation,
• PT Astra Agro Lestari Tbk
• PT Bakrie Group
Recent Development in the Palm Seeds Oil Market
• Wilmar International: Wilmar International has committed to a "No Deforestation, No Peat, No Exploitation" (NDPE) policy across its supply chain. The initiative aims to ensure sustainable sourcing of palm oil and enhance transparency in its operations.
• Golden Agri-Resources: Golden Agri-Resources launched a traceability program to map its entire palm oil supply chain. The initiative focuses on identifying the origins of palm oil and ensuring compliance with sustainability standards.
• Cargill: Cargill has invested $20 million in a new palm oil refinery in Indonesia. The facility will focus on producing sustainable palm oil products, adhering to RSPO (Roundtable on Sustainable Palm Oil) certification standards.
• Kuala Lumpur Kepong Berhad (KLK): KLK announced the expansion of its palm oil plantations in Malaysia, incorporating advanced agricultural techniques to improve yield and reduce environmental impact. The company aims to increase its output by 15% over the next five years.
Features of the Global Palm Seeds Oil Market
Market Size Estimates: Palm seeds oil market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Palm seeds oil market size by type, application, and region in terms of value ($B).
Regional Analysis: Palm seeds oil market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the palm seeds oil market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the palm seeds oil market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for palm seeds oil market?
Answer: The global palm seeds oil market is expected to grow with a CAGR of 5.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the palm seeds oil market?
Answer: The major drivers for this market are growing demand from the food processing & cosmetics industries, increasing consumer preference for sustainable and organic palm oil products, and rising application in biofuels & renewable energy sectors.
Q3. What are the major segments for palm seeds oil market?
Answer: The future of the palm seeds oil market looks promising with opportunities in the food processing and feed markets.
Q4. Who are the key palm seeds oil market companies?
Answer: Some of the key palm seeds oil companies are as follows:
• Sinar Mas Group
• PGEO Group Malaysia
• Mewah Group
• Asian Agri
• IOI Corporation Berhad
• Kuala Lumpur Kepong Berhad
• Musim Mas Group
• Sime Darby Plantation,
• PT Astra Agro Lestari Tbk
• PT Bakrie Group
Q5. Which palm seeds oil market segment will be the largest in future?
Answer: Lucintel forecasts that food grade is expected to witness higher growth over the forecast period.
Q6. In palm seeds oil market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the palm seeds oil market by type (food grade, industry grade, and others), application (food processing, feed, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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