Brazil Palm Oil Market To Be Driven By Increased Demand From End-Use Applications In The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Brazil Palm Oil Market Share, Size, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the Brazil Palm Oil market, assessing the market based on its product and application.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2026)
- Historical Market Size (2020): USD 0.9 billion
- Forecast CAGR (2021-2026): 14.3%
- Forecast Market Size (2026): USD 2.1 billion
The Palm Oil market in Brazil witnessed modest growth in the historical period, due to growing awareness and subsequent increased demand among end use industries with regards to versatile properties like cooking, health, and personal care.
Industry Definition and Major Segments
An edible vegetable oil, palm oil is extracted from the mesocarp (reddish pulp) of the fruit of oil palm tree. Palm oil is often used in the production of food, cosmetics, and as a biofuel.
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By product, the market is segmented into:
- Crude Palm Oil
- Palm Kernel Oil
- Palm Kernel Cake
- Palm Kernel Oilseed
By application, the market is bifurcated into:
- Edible oil
The increasing consumption of palm oil due to its low cost and significant health advantages is driving the Brazilian palm oil market. Growing incidences of health-related ailments are also helping the market. Another element driving the market’s demand is the increasing use of palm oil as an edible oil in the food industry. Crude palm oil is anticipated to dominate the market in the future attributable to its increasing use as an edible oil in food applications, primarily for consumer diets, as well as for the manufacturing of lubricants and greases.
Because of its increasing application in cosmetics, confectionery fats, and detergents, palm kernel oil is likely to be grow significantly during the forecast period. Application of modern satellite technology for monitoring deforestation in Brazil is likely to open up new development prospects and enhance sustainable agriculture in the country. Manufacturers are focusing on integrating water recycling technology in their refineries in order to achieve sustainability in the forecast period. These factors propel the growth of the market in the forecast period.
Key Market Players
The major players in the Brazillian market consist of Alltech Inc., The Archer Daniels Midland Company, Agropalma, BELEM BIOENERGIA BRASIL S.A., Biopalma , Denpasa – Dendê do Pará S/A, Marborges Agroindústria S.A., Palmasa S/A, among others. The report encompasses the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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