Palm Oil Market Size, Share & Trends Analysis grow at a CAGR of 5.3% from 2025 to 2030
The global palm oil market size was estimated at USD 72,844.8 million in 2024 and is projected to grow at a CAGR of 5.3% from 2025 to 2030. The market is driven by exponentially growing demand from the food, beverage, biofuel, energy, personal care, and cosmetics industries.
Key Highlights:
- Asia Pacific dominated the palm oil market with the largest revenue share of 71.18% in 2024.
- The India palm oil market accounted for the largest revenue share of over 20.2% in Asia Pacific in 2024.
- By nature, the conventional segment led the market with the largest revenue share of 99.06% in 2024.
- By product, the fractionated segment led the market with the largest revenue share of 39.23% in 2024.
- By end-use, the food & beverages segment led the market with the largest revenue share of 65.98% in 2024.
Market Size & Forecast
- 2024 Market Size: USD 72,844.8 Million
- 2030 Projected Market Size: USD 98,906.06 Million
- CAGR (2025-2030): 5.3%
- Asia Pacific : Largest market in 2024
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Major manufacturers are in Asia Pacific region due to tease of availability of raw materials in region. Market is highly competitive as well as comprehensive in nature owing to presence of a large number of all scale players which try to gain a competitive edge over others with their high production, superior distribution networks, product quality, and various competitive strategies.
Indonesia is largest palm oil producer as well as exporter of the same. Country exports product globally. The government also supports cultivators of palm plant. It is a major source of income for many small and medium scale producers in region. The industry is majorly responsible for development and upliftment of cultivators in region.
Similarly, product has witnessed increasing demand from biofuel industry. It is used in production of biofuel which is further used as a sustainable alternative to crude oil in many applications such as engine oil. Biofuel industry is a budding industry with limited applications for now.
Although industry is expected to attain development as many players are involved in research and development of industry. As the industry will gain ground demand for palm oil from industry is expected to increase and drive product market.
