Palm Oil Market Size & Share to Surpass $ 75.69 Billion by 2028

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WASHINGTON, Jan. 13, 2023 (GLOBE NEWSWIRE) — Vantage Market Research analyzes that the Palm Oil Market was valued at $62.30 Billion in 2021 and is expected to reach the value of $75.69 Billion by 2028, at a CAGR of 3.3% during the forecast period . In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the VMR team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Vantage Market Research completed a qualitative study titled Palm Oil Market with 115+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. It also aids outwit the challenges including the economic challenges created by covid-19. Market research report services have modernized strategy-making with actionable insights and with the largest industry and technology coverage that is never seen before in the industry. While delivering palm oil reports to the client, the timeline is religiously followed.

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Market Overview

Palm Oil Market (also called dendê oil, from Portuguese) is an edible vegetable oil derived from the mesocarp (red pulp) of the oil palm fruit, mainly the African oil palm Elaeis guineensis and to a lesser extent the American oil palm Elaeis oleifera and maripa palm Attalea maripa. Palm Oil Market is naturally red in color due to its high beta-carotene content. Not to be confused with palm kernel oil, which is derived from the same fruit kernel, or coconut oil, which is derived from coconut kernels. The differences are in color (unprocessed palm kernel oil does not contain carotenoids and is not red) and saturated fat content; palm mesocarp oil is 41% saturated, while palm kernel oil and coconut oil are 81% and 86% saturated, respectively.

The demand for Palm Oil Market is driven by its easy availability, various applications, and low cost of product as compared to other vegetable oils. In 2017, India was a major importer of Palm Oil Market, importing nearly 10 million tons of Palm Oil Market. The EU and China followed India as major importers. Its demand has grown exponentially over the years, with imports in 2017 almost triple what they were in 2000. India was also a major consumer of Palm Oil Market in 2018, accounting for about 20% of global consumption. The majority of consumption in India is for food, followed by other industrial uses. Its growing demand in India stems from rapid population growth, which has led to an increase in per capita consumption. The Palm Oil Market in China, another major importer, is affected by the growing demand from industries such as food, feed, and oleochemicals. In the European Union, the second-largest importer of Palm Oil Market is increasingly used as a feedstock for biodiesel production.

List of Prominent Players in the Palm Oil Market

  • Wilmar International Limited

  • Sime Darby Berhad

  • IOI Corporation Berhad

  • Astra Agri Lestari

  • Kuala Lumpur Kepong Berhad

  • Golden Agri-Resources Ltd.

For Additional Information on Palm Oil Market Players and Detail List, Download a Report PDF Brochure

Market Dynamics:


Environmental awareness seems to be an important attribute marketer should consider when developing and promoting products. However, consumer awareness of Palm Oil Market as a product ingredient is gradually developing. Palm Oil Market is now considered a more natural product whose naturalness can be harnessed in terms of physical well-being, thereby helping consumers achieve a healthy life and a higher self-esteem. As a result, the demand as an edible oil has increased, leading to an increase in the consumption of Palm Oil Market. This will drive the market growth over the forecast period.


There is great concern about the status of forests and plant diversity. Governments in prominent Palm Oil Market-growing countries such as Indonesia and Malaysia are focused on sustainable and organic production. To achieve this, there are many restrictions on the amount that can be grown and commercialized. Hence, it will hinder the market growth during the forecast period.

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Why Purchase the Report?

  • Identify commercial opportunities in palm oil market by analyzing trends and co-development deals.

  • Excel data sheet with thousands of data points of palm oil market – level 4/5 segmentation.

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

  • Product mapping in excel for the key product of all major market players


Asia Pacific is projected to dominate the geographic region of the Palm Oil Market with a significant share in 2019. Rising disposable income, major share of global Palm Oil Market production, and replacement of traditional diets by nutritious foods, health concerns over trans-fat consumption and presence of prominent market players contribute to the Palm Oil Market infrastructure in the region.​​​ North America holds the second position in terms of geographic segment share of the market owing to the shift in consumer lifestyle towards healthy eating habits and the growing awareness of the benefits of Palm Oil Market among people in the region.

Recent Developments:

In June 2020, Sime Darby Plantation released its oil palm genome to support the company’s ambition to achieve a deforestation-free industry.

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target audience

  • Service Providers/Buyers

  • Industry Investors/Investment Bankers

  • Education & Research Institutes

  • Research Professionals

  • Emerging Companies

  • Manufacturers

Global Palm Oil Market Segmentation

By Origin Outlook

By ProductOutlook

  • Crude Palm Oil

  • RBD Palm Oil

  • Palm Kernel Oil

  • Fractionated Palm Oil

By End-use Outlook

  • Food & Beverage

  • Personal Care & Cosmetics

  • Biofuel & Energy

  • pharmaceutical

  • Industrial (Surfactants, Lubricants, etc.)

By Regions

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

Scope of the Report:

Report Attributes


Market Size in 2021

USD 62.30 billion

Revenue Forecast by 2028



3.3% from 2022 to 2028

Base Year


Forecast Year

2022 to 2028

Key Players

Wilmar International Limited, Sime Darby Berhad, IOI Corporation Berhad, Astra Agro Lestari, Kuala Lumpur Kepong Berhad, Golden Agri-Resources Ltd.

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us at or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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