Palm oil is a vegetable oil that is extracted from the mesocarp of oil palms. Sustainable palm oil is palm oil produced under the guidelines and rules of the RSPO, a non-profit organization whose mission is to reform markets so that sustainable palm oil becomes the standard
Sustainable palm oil is reddish in nature due to the high beta carotene content.
The reduced cholesterol content of sustainable palm oil is the key driver of the sustainable palm oil market's expansion.
COVID-19 Impact Analysis
- Asian Agri is focused on the adoption of health procedures to avoid the spread of COVID-19, in order to ensure plantation and palm oil mill operational sustainability. In a virtual gathering in June, Bernard Riedo, Asian Agri's Director of Sustainability & Stakeholder Relations, discussed sustainable palm oil management in the midst of the COVID-19 outbreak with media.
- Hence, sustainable oil market has shown significant impact on the growth of this market.
Top Impacting Factors
The global sustainable palm oil market is expected to increase due to rising demand for palm oil in many industries such as cosmetics and personal care, food and beverage, restaurants, and even in the home.
Because of its smooth and creamy texture, as well as the lack of odor when employed, the baking business uses sustainable palm oil in their products. Because palm oil does not easily go rancid, it helps to extend the shelf life of food.
Palm oil cultivation takes only a little amount of land, making it inexpensive and accessible to consumers. Palm oil is grown as a cash crop in a variety of countries, particularly those whose economies are based largely on agriculture.
Another element driving sustainable palm oil growth is government deforestation rules, as the RSPO has enacted legislation prohibiting producers from damaging the environment and wildlife.
In addition, the use of palm oil as an ingredient is predicted to boost global sales of sustainable palm oil.
Market Trends
Demand from a Variety of End-user Sectors is on the Rise
- Palm oil is a flexible substance that may be utilized in a variety of applications, including food, personal care, and transportation fuel. During the projected period, palm oil's environmental friendliness is expected to assist boost the worldwide sustainable palm oil market.
Costs of Sustainable Palm Oil are High
- The lack of understanding about the existence of sustainable palm oil (SPO) is projected to stymie the market's expansion. There are certain companies who are unaware of the basics of sustainability or SPO.
Initiatives to Encourage the Use of Sustainable Palm Oil
- Emerging economies like China and India, as well as Europe, have begun to implement promising legislative efforts to aid the worldwide Sustainable Palm Oil market's growth. The primary driver of market expansion is rise in market penetration in key cultivating regions such as Indonesia, Malaysia, and Thailand.
Key Benefits of the Report
- This study presents the analytical depiction of the sustainable palm oil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the sustainable palm oil market share.
- The current market is quantitatively analyzed to highlight the sports supplement market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed sustainable palm oil market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Sustainable Palm Oil Market Research Report
- Which are the leading players active in the ‘sustainable palm oil market’?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is “sustainable palm oil market“prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "sustainable palm oil market"?
Key Market Segments
- By Application
- Food
- Cosmetics
- Confectionery Products
- Bakery Products
- Soap and Detergents
- Margarine
- Ice Cream
- Pet Food
- Others
- By Type
- Palm Kernel Oil
- Red Palm Oil
- White Palm Oil
- Fractional Palm Oil
- By Region
- North America
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Sime Darby Plantation Sendirian Berhad
- Kulim Berhad
- SIPEF Group Belgium
- United Plantation Berhad
- Golden Agri-Resources Limited
- New Britain Palm Oil Limited
- Cargill
- IOI Corporation Berhad
- Wilmer International Limited
- Kuala Lumpur Kepong Berhad.