Presence of high level of tocotrienols among others driving growth of global palm oil market

Date: 15 April 2020

Palm oil world domination is the result of five factors: first, it has replaced less healthy fats in foods in the west. Second, producers have pushed to keep its price low. Third, it has replaced more expensive oils in home and personal care products. Fourth, again because it is cheap, it has been widely adopted as cooking oil in Asian countries. Finally, as those Asian countries have grown richer, they have begun to consume more fat, much of it in the form of palm oil.

For the current year 2020, the market for Global Palm oil by volume might experience a decline because of the spread of the coronavirus and governments around the world unveiled new measures to stem the spread of the disease that has infected more than 20,00,000 people worldwide by April 15, 2020. 

Global consumption of palm oil has also increased rapidly in the past decades, owing to its multiple uses both in the food industry as well as non-food sectors, including the biofuel industry.

Palm oil is displacing petroleum-based products in the transportation and energy industries as a convenient option for fossil fuels. Indonesia is the top nation for palm oil consumption and production. The Indonesian government is helping manufacturers and producers of regional palm oil and allowing a large area to be planted.

Global demand for Crude Palm Oil is expected to increase owning to presence of high level of tocotrienols that offers excellent source of vitamin E and antioxidant properties.

The Azoth Analytics report on ‘GlobalPalm Oil Market (2020 Edition)’ has been analysed by value and by volume. The global palm oil market has been assessed By Product Type (Crude Palm Oil, Palm Kernel Oil, Palm Kernel Cake) and By Application (Edible Oil, Cosmetics, Biodiesel, Lubricants, Surfactants, Others) for the historical period of 2014-2019 and the forecast period of 2020-2025.