Palm Kesed Oil Market Estimated to Show Significant Growth between 2021-2027
According to a recent report by Reports and Data, the global Palm Kesed Oil Market is expected to reach USD 18.01 billion by 2027. Palm Kesed Oil is extracted from the seeds of oil palm fruits and has a high content of lauric acid and saturated fatty acid, which makes it solid at room temperature. The raw oil is yellowish-brown, but it turns into white-yellowish fat after refining. Palm Kesed Oil is widely used in various products such as cocoa glazes, ice cream coating, and cool-melting confectionery fillings. It is also a significant component in the production of margarine, oleochemical intermediate products, cleaning agents, and cosmetics.
Growing awareness of the harmful chemicals used in cosmetics and their side-effects has increased the usage of Palm Kesed Oil in various products. Moreover, consumers’ inclination towards natural personal care and cosmetic products has also contributed to the increasing application of Palm Kesed Oil in cosmetics production. The rise in the number of retail stores, showrooms, spas, department stores, salons, and beauty product stores is also driving the demand for the market product. Additionally, the increasing standard of living has propelled the market during the forecast period.
North America is expected to grow at a significant rate during the forecast period, primarily due to the growth of the food and beverage industry in the region. The consumption of food and beverage products has increased in the U.S., where Palm Kesed Oil is widely used in food preparation.
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Major Companies:
United Palm Oil Industry Public Company Limited, Cargill Inc., Sime Darby, Wilmar International Limited, Golden Agri Resources Limited, PT Astra Agro Lestari Tbk, Godrej Agrovet Limited, London Sumatra, Musim Mas Group, and Alami Group, among others.
Notable Innovation in Palm Kesed Oil Market:
There have been several notable innovations in the Palm Kesed Oil market in recent years. One significant development is the increasing use of sustainable practices in Palm Kesed Oil production, which has helped address concerns about deforestation and the impact on local communities. Many companies are now implementing sustainability initiatives, such as using certified sustainable palm oil, to ensure their products are more environmentally and socially responsible.
Another innovation is the development of new and improved extraction and refining techniques, which have enhanced the quality and purity of Palm Kesed Oil. These advancements have also led to the development of new applications for the oil, such as in the production of biofuels and other renewable energy sources.
Furthermore, there is ongoing research on the potential health benefits of Palm Kesed Oil, such as its ability to reduce inflammation, improve brain function, and lower the risk of heart disease. These findings have led to increased interest in the use of Palm Kesed Oil in functional foods and dietary supplements.
Various Key Factors Palm Kesed Oil Market:
- Growing demand from the food industry: Palm Kesed Oil is widely used in the food industry for its properties such as texture, flavor, and stability. The increasing demand for processed and packaged food products has driven the growth of the market.
- Rising demand from the cosmetics industry: Palm Kesed Oil is used in the production of cosmetics and personal care products such as soaps, lotions, and shampoos. The increasing consumer preference for natural and organic personal care products has boosted the demand for Palm Kesed Oil in this sector.
- Advancements in extraction and refining technologies: The development of new and improved extraction and refining techniques has led to better quality and purity of Palm Kesed Oil, which has increased its demand in various industries.
- Growing awareness of sustainable practices: The Palm Kesed Oil market is increasingly focused on sustainable practices such as the use of certified sustainable palm oil, which is sourced from plantations that meet specific environmental and social criteria.
- Increasing population and income levels: The global population is growing, and with rising income levels, there is an increased demand for food and personal care products. This has led to a corresponding increase in demand for Palm Kesed Oil.
- Fluctuating prices of other oils: The prices of other vegetable oils such as soybean oil, sunflower oil, and rapeseed oil, which are substitutes for Palm Kesed Oil, can fluctuate. This has led to increased demand for Palm Kesed Oil as a cost-effective alternative.
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