Applications like edible oil, surfactants, biodiesel, and lubricants will boost the Palm Oil Derivatives Market.
According to MarketIntelReports' “Global and Chinese Palm Oil Derivatives Industry, 2017 Market Research Report”:
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Palm oil derivatives are used in vegetable oil, biscuits, noodles, chocolates, ice cream,. The growing food and beverage industry will boost the growth of the Palm Oil Derivatives Market during the forecast period.
Health consciousness among the consumers and the demand for a healthy diet will also boost the market. The palm oil ingredients from fatty acids are used in cosmetics, pharmaceuticals, and water treatment products.
The growing demand for the textile industry due to wetting agents, emulsifying softeners fuels the growth of industry.
Usage of palm oil as a biodiesel has gained acceptance.
Scope & Regional Forecast of the Palm Oil Derivatives Market
Increasing demand for end user industries will drive the Palm Oil Derivatives Market. Governments have taken steps to stop the consumption of trans fat in the recent years.
Consumer preference towards bio based cosmetics and lubricants enhance the demand for palm oil nutrition. North America and Asia Pacific will have a strong hold over the market.
Edible oil has immense popularity in the market followed by lubricants and biodiesel. Stringent environmental regulations have led to the usage of bio based surfactants and lubricants.
This trend supports the demand for palm products.
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Palm kernel cakes are used in the animal feed industry. The demand for animal feed augments the need for palm oil food products.
Technology, research and development activities create greater prospects for the coconut oil derivatives.
Personal care products like shampoo, hair spray, and hair conditioners make use of palm oil emulsifier Growth in the livestock like rearing of swine, cattle, and poultry will fuel the market.
Segmentations & Key Players Involved in the Palm Oil Derivatives Market
The Palm Oil Derivatives Market can be broken down into various segments as follows:
- Region- North America, Europe, Asia Pacific, Middle East & Africa, Central & South America.
Some of the key players involved in the Palm Oil Derivatives Market are as follows:
- Wilmar International Limited
- Sime Darby
- Golden Agri Resources Limited
- Godrej Agrovet Limited
- Kulim Bhd
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