Food and Beverages Research Reports Palm Oil Market Outlook 2017-2022 | Page 2

REPORT DESCRIPTION
Global Palm Oil Market to Reach a Volume of 101 Million Tons by 2022
Originated in West-Africa, palm oil is a type of edible vegetable oil which is derived from the fruits of the
most efficient type of oilseed crop, i.e. oil palm tree. It has, today, emerged as the foremost global source
of vegetable oil and currently represents the second most traded vegetable oil crop in the world. This can
be attributed to its adequate availability, versatility in usage, and lower cost as compared to other
vegetable oils.
The production of palm oil is sustainable as compared to other crop based vegetable oils like soybean and
rapeseed as it requires lesser energy in its production process and yields more oil per hectare. According
to a new report by Expert Market Research, the global palm oil market reached a consumption volume of
69 Million Tons in 2016 and is further expected to reach 101 Million Tons by 2022
Uses of palm oil in various industries make it a versatile product. As it has great cooking properties and
can be used in even high temperatures, it represents an essential product in the food industry. It is also
used as an active ingredient in many skin-care and cosmetic products. Besides this, palm oil is now being
used as an ingredient in bio-diesel and as a fuel for producing electricity in power stations.
In recent years, governments across various nations have taken initiatives to curb the consumption of
trans-fat which has resulted in the increased use of palm oil. Moreover, changing consumer preferences
and growing demand from diverse end-use industries have also fuelled the global demand for palm oil.