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Palm Olein Oil: Market outlook

Palm oil is an eatable vegetable oil obtained from the mesocarp of the fruit of palm. Palm oil is one of the most abundant oil which is widely used in various industries. Palm olein is the most treasured liquid fraction of palm oil. Increasing demand for palm olein oil in food processing industry and its versatility in other end-user industry is fueling the growth prospects of the oil.

Palm olein contains higher amounts of oleic and linoleic acids compared to palm oil. Also, palm olein oil can be blended with various other vegetable oils such as sunflower, soybean, and canola oils among others to increase the cold stability and oxidative properties of the mix.

Palm olein oil is used for preventing brain disease, vitamin deficiency, cancer, and aging. It is also used to treat high cholesterol, high blood pressure, cyanide poisoning, and dementia. Palm oil is used for mass loss and for increasing the body's metabolism making it one of the widely used vegetable oil in the world.

However, high price instability is probable to affect the palm olein oil market as palm oil seizures the largest size of vegetable oil traded across the world and implementation of new regulations and policies alongside the backdrop of rising consciousness concerning negligent plantation practices. These dynamics are insisting farmers to surge the cost of production, thus impacting the overall palm olein oil market globally.

Biodiesel Expected to Harness the Potential of Palm Olein Oil in Foreseeable Future

Palm olein oil with its large share has become an important ingredient in the food processing and foodservice sector. Though the overall quantity of palm olein oil used remains imperceptible till date due to the cataloguing of palm olein oil underneath vegetable oil category, demand for palm olein oil in the food processing industry remains indispensable. Regardless of the presence of palm olein oil alternatives, easy availability and affordability of palm olein oil makes it the most desirable oil in the food industry.

Biodiesel has extended incredible acceptance among consumers as a potential alternative for diesel in the past years. In terms of feedstock, palm olein oil is highlighted as the traditional feedstock for biodiesel production and is supposed to be a cost-effective substitute to soybean oil.

Global Palm Olein Oil: Market Segmentation

On the basis of nature, global Palm Olein Oil can be segmented as:-

  • Organic
  • Conventional

On the basis of product type, global Palm Olein Oil can be segmented as:-

  • Refined
  • Semi-Refined
  • Unrefined

On the basis of packaging, global Palm Olein Oil can be segmented as:-

  • Bottles
  • Jerry Cans
  • Pouches
  • Metal Barrels

On the basis of end-use, global Palm Olein Oil can be segmented as:-

  • Food & Beverage
  • Biofuel & Energy
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Bio-diesel
  • Others

On the basis of distribution channel, global plant-based chicken can be segmented as:-

  • B2B
  • B2C
    • Store-based Retailing
      • Modern Groceries
      • Discount Stores
      • Convenience Stores
      • Traditional Groceries
      • Food & Drink Specialty Stores
    • Online Retailing

Global Palm Olein Oil: Key Players

Some the key players operating their business in the global Palm Olein Oil market are Cargill Inc., Grief Inc., American Vegetable Oils, Fuji Oil Holdings, Associated British Foods, Bunge Limited, Wilmar International Limited, IOI Corporation, and Ruchi Soya Industries.

  • In 2018, BASF SE, the largest producer of palm oil revealed its plans to make available its palm oil based product portfolio and personal care specialties as certified sustainable.
  • In 2018, Unilever disclosed its complete palm oil supply chain including source to suppliers and has become the first consumer goods company to disclose whole transparency of the palm oil supply chain.

Opportunities for Palm Olein Oil Market Participants:

Efficient and well-organized supply chain increases the easiness of doing business, scales down the cost of production, and accelerates urban and rural consumption growth of palm olein oil due to better market access. Sustainability is todays need and palm olein oil manufacturers are trying hard to take up initiatives to bridge gap between production and consumption. Smarter utilization of natural resources, reducing plastic, reduction in carbon discharge, carbon footprint and others are some initiatives manufacturers should adopt to optimize production levels.

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
  • Europe
  • 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.

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Palm Olein Oil Market