Top Palm Oil Companies in Worldwide 2023 | IMARC Group

Palm oil represents an edible lubricant obtained from fruits and kernels of Elaeis guineensis trees. It comprises beta-carotene, lycopene, palmitic, stearic, lauric, and myristic acids. Palm oil contains antioxidants, such as vitamins E and A, essential for reducing cellular oxidation, improving skin texture, boosting the immune system, and promoting better brain function. It also sustains vision and reduces the occurrences of retinal disorders. Palm oil is more nutritious than other alternatives, owing to the absence of trans fatty acid, which increases the risk of coronary heart disease in humans. It is utilized to produce various food products, including cookies, bread, pizza, instant noodles, biscuits, chocolate, ice creams, and chips. In addition, palm oil is also added to butter and peanut butter to improve the texture and flavor and retain the quality over an extended period.

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The global palm oil market size reached US$ 53.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.

The extensive product utilization as an alternative to petroleum-based variants to reduce the accumulation of carbon in diesel engines is primarily driving the palm oil market. Besides this, the rising consumption of plant-based lubricants instead of butter or animal fats, on account of the increasing adoption of veganism across the globe, is further augmenting the market growth. Moreover, the leading companies, such as Archer-Daniels-Midland Company, Asian Agri, Boustead Holdings Berhad, IJM Corporation Berhad, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad, etc., are selling organic palm oil to reach a broader consumer base, which is also catalyzing the global market. Apart from this, the elevating product requirement in perfumes and various skincare and makeup products, including lipsticks, foundation, concealers, and body lotions, to enhance their texture and moisturizing capabilities is acting as another significant growth-inducing factor. Furthermore, the increasing usage of this lubricant in manufacturing detergents, shampoos, and conditioners to improve their foaming properties is anticipated to propel the palm oil market over the forecasted period.

Some of the Top Key players in the Global Palm Oil Industry

  • Archer-Daniels-Midland Company
  • Asian Agri
  • Boustead Holdings Berhad
  • IJM Corporation Berhad
  • IOI Corporation Berhad
  • Kuala Lumpur Kepong Berhad
  • Kulim Malaysia Berhad (Johor Corporation)
  • PT Dharma Satya Nusantara Tbk
  • PT PP LONDON SUMATRA INDONESIA TBK
  • PT Sampoerna Agro Tbk
  • Bakrie Sumatera Plantations tbk
  • Sime Darby Plantation Berhad
  • United Plantations Berhad
  • Univanich Palm Oil Public Company Ltd.
  • Wilmar International Ltd.

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Key highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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