Global Soy Oil & Palm oil Market is estimated to be valued at US$ 103,230.9 Mn in 2022, according to the Global Soy Oil And Palm Oil Market Report, by Source (Organic and Conventional), by Product Type (Palm Oil, Palm Kernel Oil, Soy Oil, and Refined Oil), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights.
Global soy oil & palm oil market was valued at US$ 103,230.9 Mn in 2022. Soy oil & palm oil market is expected to register a CAGR of 6.29 % over the forecast period (2023–2030), to reach US$ 168,226.5 Mn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/soy-oil-and-palm-oil-market-2425
Key Trends and Analysis of the Global Soy Oil &Palm Oil Market:
- Conventional segment among the source held highest market share in 2022, in the global soy oil and palm oil market. This is owing to the increasing industrial application in soy and palm oil market
- Organic segment among source is expected to grow at a faster pace over the forecast period, owing to growing consciousness among people for healthy, chemical-free products, which is a major driving factor for the growth of the organic soy and palm oil market
Key Takeaways of the Global Soy Oil & Palm Oil Market:
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global soy oil & palm oil market. For instance, in 2020, Olam International restructured its business into two new groups.
- Asia Pacific held dominant market share of 50.1% in 2022 in the global soy oil & palm oil market, owing to the presence of major soy oil and palm oil producers in the region
- Major players operating in the global soy oil & palm oil market include Cargill, Inc., PT Astra Agro Lestari Tbk, Wilmar International Ltd, Malaysian Palm Oil Council (MPOC), Carotino Sdn Bhd, Yee Lee Corporation Bhd, IOI Corporation Berhad, Archer Daniels Midland Company, DowDuPont Inc., and Guangxi Long'an Ruifeng Industrial & Trading Co., Ltd.
