(Food-Beverage-News.Com, February 06, 2018 ) Palm oil is one of the world's most used edible vegetable oil derived from the mesocarp of the oil palms. It is different from palm kernel oil and coconut oil derived from the kernel of the oil palm and coconut palm respectively. Palm oil is very cheap compared to other vegetable oils such as soybean, groundnut and rapeseed with various applications in food, cosmetics, lubricants, surfactants and others. It is also used as a first-generation biofuel and preventing many diseases like cancer, aging, vitamin A deficiency, malaria, high blood pressure and cholesterol.
Palm oil is naturally reddish in colour because of pigment stems from antioxidants known as carotenoids including high beta-carotene content. Palm kernel oil is the dominant source of the Palm oil derivatives. Palm oil derivatives and fractions are used in food industry as preservatives, antioxidants and sweeteners, in industrial products such as lubricants, insect repellents, adhesives and paints, in personal and healthcare products as hair sprays, shampoo, conditioner, and cosmetics. It is also used in the production of renewable fuels in the transport, power, heating and cooling sectors.
The Global Palm Oil & Palm Oil Derivatives Market is mainly driven by the growing health consciousness related to trans-fat consumption and wide uses in the manufacture of confectionary food, pharmaceuticals, cleaning agents and cosmetics. In addition, low price, rise in bio-fuel demand, improving economic conditions, product innovations along with technological advancements, changing life-style and high investments by the leading companies are also driving the market. However, stringent rules for the product approval and high packaging and transport costs for exporting into other countries are hampering the growth of the market.
The Global Palm Oil & Palm Oil Derivatives Market is segmented on the basis of type, application and region. Palm oil derivatives are segmented into crude palm oil, palm kernel oil, palm kernel cake, Oleochemicals and others. The crude oil segment was a leading segment followed by the kernel oil and cake. The application segment consists of the edible oil, food, cosmetics, agrochemical, bio-diesel, personal care, lubricants, surfactants and others. Edible oil is expected to have the largest share in the global market followed by surfactants and lubricants. Bio diesel is fastest growing segment due to the increasing usage of biodiesel in power and fuel generation.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Asia-Pacific dominating the global market ahead of the North America and Europe due to the rising population and emerging economies, increase in the cumulative land area of palm oil plantation, rising palm oil yield and high investment in R&D related activities. Middle East & Africa and Latin America are expected to be fastest growing in areas such as food applications and other industrial uses.
Some of the key players dominating the Global Palm Oil & Palm Oil Derivatives Market are Cargill Inc., United Palm Oil Industry Public Company Limited, Sime Darby, Wilmar International Ltd., Godrej Agrovet Limited, Golden Agri-Resources Ltd., PT Astra Agro Lestari Tbk, IOI Corp, London Sumatra, Kulim Bhd and Trade Winds Plantation.
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