North America & Europe Palm Derivatives Market
What are the anticipated market size and growth rate for North America and Europe PalmDerivatives?
Market Research Future (MRFR)’s extensive report revealsthat the North America & Europe palm derivatives market is set to cross the
valuation of USD 35,573.7 million by 2028. The market will expand at a strong
CAGR during the forecast period (2017–2028).
Derivatives and fractions of palm oil and palm kernel oilhave widespread uses in various industries like food manufacture, in personal
and healthcare products and industrial products. Furthermore, palm oil and some
of its derivatives can be used in the production of renewable fuels in the
transport, power and heating and cooling sectors.
Strong scope in the food & beverage industry is expectedto inflate the palm oil derivatives market size by the end of the forecast
period. Increasing health consciousness related to trans-fat consumption has
shifted consumer preferences towards healthy diet, which should drive the
industry growth further. They are used in a vast range of food products which
include cakes, confectionery, emulsifiers, snack foods, pastry, and margarine.
Flourishing personal care and cosmetics industry isanticipated to fuel the market size growth. Positive outlook in textile
industry due to emulsifying softeners, wetting agents, scouring agents, and
dispersants properties will be fueling the product demand. Positive trends
towards growth in livestock rearing such as poultry, swine, and cattle for
protein-rich diet consumption is likely to fuel product demand.
However, deforestation for palm oil production is touted tobe a massive market hindrance, as it affects the environment. On the other
hand, positive trends towards growth in livestock rearing such as poultry,
swine, and cattle for protein-rich diet consumption may fuel product demand.
Hence, the overall market will remain unaffected by impeding factors in coming
years.
North America & Europe Palm derivatives Market–Competitive Dashboard
Some of the key players profiled in the report includeCargill Inc. (U.S.), Wilmar International Ltd. (Singapore), Sime Darby Berhad
(Malaysia), Golden Agri-Resources Ltd. (Singapore), PT Astra Agro Lestari Tbk
(Indonesia), IOI Corporation Berhad (Malaysia), London Sumatra Indonesia Tbk.
(Indonesia), Kulim (Malaysia) Berhad (Malaysia), Tradewinds plantation
(Malaysia), and The Clorox Company (U.S.).
North America & Europe Palm Derivatives Market–Segmental Analysis
MRFR’s report offers a detailed segmental analysis of the NorthAmerica and Europe palm derivatives market analysis on the basis of category,
type, application, and region.
By category, the North America and Europe palm derivatives marketsize is segmented into conventional and organic. Among these, the conventional
palm derivatives segment has captured the largest market share and is expected
to register a CAGR of 8.45% during the forecast period in the European
region.
By type, the northAmerica and Europe palm derivatives market share is segmented into palmoil, palm kernel oil, palm kernel cake. In 2017, the palm oil segment accounted
for the largest market share in Europe. Palm oil is the most common vegetable
oil used in preparing various food items due to its stability at high
temperatures, on the basis of which it accounts for 72% of the total market
share in the Europe region.
By application, the market is segmented into food andbeverages, cosmetics & personal care, biodiesel and others. Among these,
foods and beverages-based application is the fastest growing segment during the
forecast period with CAGR 12.08%. On the other hand, the segment of biodiesel
is anticipated to account for the maximum market share during the forecast
period owing to a lower price as compared to petroleum and other vegetable
oils. Being an environment-friendly and cost-effective by-product of palm, it
is gaining huge demand. Biodiesel account for 46% of the total market share in
the European region.
Regional Outlook
By region, the North America and Europe palm derivativesmarket revenue is segmented as.
At present, Europe holds the largest market share, and thetrend is likely to continue in coming years. The striking market performance
can be attributed to the high consumption of palm derivatives for the
production of biodiesel and food and beverages in Europe. In addition, high
investments in research and development for the production of biodiesel and the
presence of leading players have been instrumental in the stupendous growth of
the market in Europe.
North America is making similar strides in the palmderivatives market on account of rising focus on the production of biofuel from
palmkernel oil market. The high production of biofuel has escalated the importsof palm derivatives to countries in North America. The region is poised to note
the highest growth in the palm derivatives market during the assessment period.
NOTE: Our Team of Researchers are Studying Covid19 andits Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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