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Palm Oil Market Size to Reach $147.59 Billion by 2026 | CAGR: 6.7%

palm oil

Palm Oil Market Size to Reach $147.59 Billion by 2026 | CAGR: 6.7%

The global palm oil market is anticipated to reach USD 147.59 billion by 2026 according to a new study published by Polaris Market Research. Palm oil is a versatile and important raw material for food, personal care, and other commodity products.

The volatility in crude prices, comparatively high hydrocarbon fuel prices along with strong efforts globally to reduce greenhouse gas emissions, demand for biofuels from the transport sector have significantly increased. This is mainly owing to palm oil’s competitiveness in productivity and prices. Rising demand for organic food products, cosmetics, detergents, and other natural ingredient rich or derived commodities, the popularity of palm and palm kernel oil have increased exponentially over the past decade.

The significant increase in output of the product was mostly influenced by the continued global expansion of planted areas of oil palm. The fact became more apparent when oil palm was featured and considered as a crucial socio-economic harvest in most of its producing countries. The rising market of the product in the worldwide oils & fats industry has been accomplished by leveraging its techno-economic advantages compared with the other vegetable oils along with some of the other developments in respect to the environment, health, and security of supply globally. These positive factors and developments associated with the product will continue influencing its dominant role globally in the fats & oils demand and supply equation.

Palm oil offers the maximum output value in comparison to other major oilseed crops, such as soya bean, rapeseed, and sunflower. Indeed, the overall annual value per hectare for the product at USD 1135 is highly remunerative than the rapeseed at USD 696, soya bean at USD 543 and sunflower at USD 334. Therefore, in a market space in most nations, where the agricultural or farming land has been shrinking with increasing urbanization owing to industrialization, which is also coupled with the most important fact that inside the agricultural industry oilseeds compete with different grains for larger arable land available, cultivation of oil palm seems to be the most obvious and potential option to satisfy the needs growing oils & fats globally.

Some of the leading industry participants include Wilmar International, Univanich Palm Oil Public Company Limited, United Palm Oil Industry Public Company Limited,, Sime Darby Plantations, Siat Group of Companies, PT Indofood Sukses Makmur Tbk, PT Astra Agro Lestari Tbk, Musim Mas Group, MM VitaOils Sdn Bhd,, Kuala Lumpur Kepong Berhad, Kempas Edible Oil Sendirian Berhad, IOI Group, Intercontinental Specialty Fats,  Golden Agri Resources Ltd,  Genting Plantations, Fuji Vegetable Oils Inc, Dekel Oil, Carotino Group, California Oil Corp, Boustead Group, Alami Group,  and ADM.

View For More Information about palm oil market @  https://www.polarismarketresearch.com/industry-analysis/palm-oil-market/request-for-sample

rapeseed oil

EU Rapeseed Oil Market Overcame $12B, Growing Robustly For The Third Consecutive Year

IndexBox has just published a new report: ‘EU – Rapeseed Oil – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the rapeseed oil market in the European Union amounted to $12.6B in 2018, jumping by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.7% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2008, with an increase of 34% against the previous year. The level of rapeseed oil consumption peaked in 2018, and is expected to retain its growth in the immediate term.

Production in the EU

In 2018, approx. 13M tonnes of rapeseed oil were produced in the European Union; increasing by 6.7% against the previous year. The total output indicated a prominent expansion from 2007 to 2018: its volume increased at an average annual rate of +6.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the rapeseed oil production increased by +51.7% against 2011 indices.

Exports in the EU

The exports totaled 2.4M tonnes in 2018, dropping by -18.8% against the previous year. In general, rapeseed oil exports, however, continue to indicate a relatively flat trend pattern. In value terms, rapeseed oil exports totaled $2.4B (IndexBox estimates) in 2018.

Exports by Country

Germany represented the major exporter of rapeseed oil in the European Union, with the volume of exports finishing at 819K tonnes, which was near 35% of total exports in 2018. Belgium (249K tonnes) ranks second in terms of the total exports with a 11% share, followed by France (10%), the Netherlands (9.8%) and the Czech Republic (9.7%). Denmark (99K tonnes), the UK (96K tonnes), Poland (76K tonnes), Austria (52K tonnes), Lithuania (48K tonnes) and Estonia (42K tonnes) held a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to rapeseed oil exports from Germany stood at +10.2%. At the same time, the Czech Republic (+13.2%), Austria (+10.5%), Lithuania (+8.6%), Estonia (+5.7%) and Belgium (+1.9%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest growing exporter in the European Union, with a CAGR of +13.2% from 2007-2018. By contrast, Denmark (-2.1%), France (-3.5%), the Netherlands (-6.0%), Poland (-10.0%) and the UK (-10.8%) illustrated a downward trend over the same period. The UK (10%), the Netherlands (9.5%), Poland (6.9%) and France (4.9%) significantly strengthened its position in terms of the total exports, while Belgium, the Czech Republic and Germany saw its share reduced by -1.9%, -7.2% and -22.7% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($743M) remains the largest rapeseed oil supplier in the European Union, comprising 31% of total rapeseed oil exports. The second position in the ranking was occupied by the Czech Republic ($301M), with a 13% share of total exports. It was followed by Belgium, with a 10% share.

Export Prices by Country

In 2018, the rapeseed oil export price in the European Union amounted to $999 per tonne, picking up by 3% against the previous year. Overall, the rapeseed oil export price, however, continues to indicate a relatively flat trend pattern. Export prices varied noticeably by the country of origin; the country with the highest export price was the Czech Republic ($1,309 per tonne), while Lithuania ($842 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, imports of rapeseed oil in the European Union amounted to 2.3M tonnes, shrinking by -3.4% against the previous year.In value terms, rapeseed oil imports amounted to $2.1B (IndexBox estimates) in 2018.

Imports by Country

The Netherlands represented the main importing country with an import of about 715K tonnes, which finished at 31% of total imports. Belgium (253K tonnes) ranks second in terms of the total imports with a 11% share, followed by Germany (10%), France (6.7%), Sweden (4.9%) and Austria (4.7%). The following importers – Lithuania (94K tonnes), the UK (84K tonnes), Italy (82K tonnes), Poland (81K tonnes), Denmark (56K tonnes) and Hungary (52K tonnes) – together made up 20% of total imports.

From 2007 to 2018, average annual rates of growth with regard to rapeseed oil imports into the Netherlands stood at +7.3%. At the same time, Lithuania (+9.0%), Sweden (+6.8%), the UK (+5.2%), Hungary (+4.1%), Poland (+4.1%) and Belgium (+2.0%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest growing importer in the European Union, with a CAGR of +9.0% from 2007-2018. Denmark experienced a relatively flat trend pattern. By contrast, Austria (-1.2%), France (-3.8%), Italy (-8.1%) and Germany (-11.7%) illustrated a downward trend over the same period. Germany (31%), Italy (5.5%) and France (3.5%) significantly strengthened its position in terms of the total imports, while the UK, Belgium, Lithuania, Sweden and the Netherlands saw its share reduced by -1.6%, -2.2%, -2.5%, -2.5% and -16.8% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($624M) constitutes the largest market for imported rapeseed oil in the European Union, comprising 30% of total rapeseed oil imports. The second position in the ranking was occupied by Germany ($239M), with a 11% share of total imports. It was followed by Belgium, with a 11% share.

Import Prices by Country

The rapeseed oil import price in the European Union stood at $920 per tonne in 2018, reducing by -4.5% against the previous year. In general, the rapeseed oil import price continues to indicate a relatively flat trend pattern. Average import prices varied somewhat amongst the major importing countries. In 2018, major importing countries recorded the following import prices: in France ($1,053 per tonne) and Germany ($1,002 per tonne), while Lithuania ($800 per tonne) and Austria ($860 per tonne) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Italy, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform