The new report by Expert Market Research titled, ‘Latin America Palm Oil Market Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America palm oil market size, assessing the market based on its segments like applications, and major regions.
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.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028) – 6.2% (Global Market)
Latin American countries, such as Brazil, Guatemala, and Ecuador, among others, come under top 10 largest producers of palm oil across the globe. The increasing demand for palm oil from the household, for cooking purpose, is driving the market growth. In addition to this, the growing demand for food in the region owing to the increasing population and rising disposable income is further propelling the demand for palm oil.
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Over the forecast period, the anticipated increase in application of palm oil as a biodiesel feedstock is likely to add to the market growth. Furthermore, the increasing demand for palm oil in cosmetic products is likely to be another key driving factor.
Latin America Palm Oil Industry Definition and Major Segments
Palm oil is defined as a variety of oil which is obtained from the fruit of oil palm. It is native to Africa by presently is grown across significant portion of the tropical region. It is a versatile oil which is semi-solid at room temperature, stable when heated, and neutral in taste.
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On the basis of application, the market can be segmented into:
- Food Products
- Consumer Products
The regional markets for Latin America palm oil include:
Latin America Palm Oil Market Trends
The key trends in the palm oil market in Latin America include the thriving e-commerce industry in the region, which is propelling the sales of various downstream products of palm oil, such as soaps, detergents, and beauty products, among others. The rising demand for clean-labelled food products from online sale channels, supermarkets and hypermarkets are further increasing the demand for palm oil, which is another crucial trend in the market.
Moreover, the favourable schemes and initiatives of the government aimed towards enhancing the production of palm oil are anticipated to be the major trends in the market.
Key Market Players
The major players in the market are Wilmar International Ltd., Cargill, Incorporated, Bunge Limited, Archer Daniels Midland Company, and Reforestadora de Palmas del Petén SA (REPSA), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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