Palm Oil Market To Reach $113.9 Billion By 2035 | CAGR: 4.2%

Palm Oil Market Growth & Trends

The global palm oil market size is expected to reach USD 113.9 billion by 2035, registering a CAGR of 4.2% from 2025 to 2035, according to a new report by Grand View Research, Inc. The growth is driven by increasing demand for food applications and eco-friendly, organic, and sustainable products. Personal care products and cosmetic industries are also major sectors accountable for the growth of products.

Palm oil is an edible oil that is derived from the mesocarp of the palm fruit. Indonesia and Malaysia are the largest producers as well as exporters of the product globally. It is extensively used in the food, cosmetic, and personal care products industries, among others. Asia pacific region is the largest consumer of palm oil owing to its key application for food preparation in the region.

The global product market is amalgamated as well as competitive in nature. It is one of the well-established companies with a developed value chain. Internationally, the product market has a resilient network of distributors, traders, and strong relationships with manufacturers. The overall product market is considered to have an extremely cohesive supply chain and increasing demand for the product for an expansive range of end-use applications comprising biodiesel, food & beverages, and personal care & cosmetics, among others.

Fractionated palm oil product segment appeared to be the largest segment in the international market, accounting for the highest share in 2022 of the global revenue of the market. This segment is the most popular due to its easy economic availability worldwide and manufacturing ease owing to 50% unsaturated and 50% fatty acid constituent nature of palm oil. The segment is expected to expand over the forecast period owing to its extensive utilization by the people.

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Palm Oil Market Report Highlights

• By nature, the conventional segment dominated the market with a revenue share of 93.4% in 2024. The organic segment is the fastest-growing segment with a CAGR of 4.4% during the forecast period.

• By product, the crude palm oil segment dominated the market with a revenue share of 76.7% in 2024. The palm kernel oil segment is the fastest-growing segment with a CAGR of 4.4% during the forecast period.

• By application, the food & beverage sector dominated the market with a revenue share of 72.7% in 2024. The biofuel & energy segment is witnessing significant growth with the fastest CAGR of 4.1%, during the forecast period.

• Asia-Pacific palm oil industry dominated the global market with the largest revenue share of 74.5% in 2024. Indonesia's palm oil industry dominated the Asia Pacific market with a revenue share of 42.1% in 2024.

Palm Oil Market Segmentation

Grand View Research has segmented the global palm oil market report based on product, nature, end-use, and region:

Palm Oil Nature Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)

• Organic

• Conventional

Palm Oil Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)

• Crude Palm Oil

• Palm Kernel Oil

• RBD Palm Oil

• Fractionated Palm Oil

Palm Oil Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)

• Food & Beverage

• Personal Care & Cosmetics

• Biofuel & Energy

• Pharmaceuticals

• Others

Palm Oil Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2035)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Italy

  • Spain

  • France

  • Russia

• Asia Pacific

  • Malaysia

  • Indonesia

  • China

  • Japan

  • South Korea

  • India

• Latin America

  • Brazil

  • Argentina

  • Colombia

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Palm Oil Market

• ADM

• Wilmar International Ltd.

• IOI Corporation Berhad

• Kuala Lumpur Kepong Berhad

• United Plantations Berhad

• Kulim (Malaysia) Berhad

• PT Sampoerna Agro, Tbk

• Univanich Palm Oil Public Company Ltd.

• PT. Bakrie Sumatera Plantations tbk

• Asian Agri.

• Oleopalma

• Natural Habitats

• Agropalma

• Cargill, Incorporated

• AEN Parm Oil