Low to zero trans-fat content and the pocket-friendly pricing of palm oil is fuelling demand from the global palm oil market. Palm oil is one of the most widely used vegetable oils and a common ingredient in biscuits, margarine, breads, instant noodles, cereals, lipsticks, candles, chocolates, shampoos, ice-cream, and detergents. The applications of palm oil are therefore quite diverse, which aids the expansion of the global palm oil market.
Palm oil is derived from a tropical tree, which, once planted, yields palm fruits for more than three decades, ascertaining much needed employment for the rural communities living in emerging nations such as Malaysia and Indonesia. The oil is highly lucrative, particularly because palm trees yield more oil per hectare than any other major oil seed crop.
The report provides a comprehensive overview of the global palm oil market, with focus on the factors driving the market and those restraining it. It covers the market from the ground up covering aspects such as the market definition, classification, and growth trajectory. Regionally, the global palm oil market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
Overview of Global Palm Oil Market
Palm oil derived from palm fruit is an edible vegetable oil. In the last couple of years, the demand for palm oil has increased in response to the rising consumption of vegetable oils. Apart from its extensive applications in the food and beverage industry and the retail industry, palm oil is also used in biofuels.
Palm oil is cost-effective and low in trans-fats, due to which its demand is high in the global market. However, the expansion of palm tree plantations is usually carried out at the expense of tropical forests, particularly in countries such as Malaysia. Rising environmental concerns thus pose a tough challenge in front of enterprises operating in the global palm oil market.
Large-scale deforestation for palm oil production has not only aggravated the already worrying issue of climate, but has also led to the extinction of many animal species. However, the market is expected to capitalize in the near future on opportunities created by sustainable palm oil production.
To present a 360-degree blueprint of the market, the report studies demand for diverse palm oils available in the market such as red palm oil, kernel oil, while palm oil, fractionated palm oil, and others. Factors leading to the rising application of palm oil in industries such as energy, health, food, and others are also evaluated in detail.
Malaysia is the leading producer of palm oil in the world. Over the forecast period, India and China are also expected to substantially contribute to the expansion of the palm oil market in Asia Pacific.
Companies mentioned in the research report
Some of the most prominent enterprises operating in the market are Alami Group (Malaysia), Musim Mas Group (Indonesia), ADM (US), the United Palm Oil Industry Public Company Limited (Thailand), and Boustead Group (Malaysia).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.