North America Palm Oil Market is worth USD 27.95 billion in 2024 and estimated to grow at a CAGR of 7.5%, reaching USD 40.13 billion by 2029.
The North America Palm Oil market is developing at an exceptionally quick pace. Palm oil is an economically important and versatile vegetable oil used as a raw material for both food and non-food products. Palm oil is used all over the world and is found in supermarkets ranging from sweets, baked goods, margarine, cereals, washing powders, and cosmetics. Palm oil is also used as a first-generation biofuel. It is also used in preventing vitamin A deficiency, cancer, brain disease, and aging; and treating malaria, high blood pressure, high cholesterol, and cyanide poisoning. Most palm oil is produced in Asia, Africa, and South America because the trees require warm temperatures, sunlight, and plenty of rain in order to maximize crop production.
The significant driver is improving economic conditions, rising living standards, changing eating habits in emerging countries, and growing demand for vegetable oil as a feedstock for biodiesel production. Properties such as cooking, which can be used in high temperature; Its smooth and creamy texture and having no smell make it a perfect ingredient for many recipes like it is used in the bakery (especially for biscuits) has led to a surge in the growth of this industry. It has a natural perspective effect which helps the longevity of the food by resisting the oxidation that spoils them.
This Research Report on North America Palm Oil Market is segmented and sub segmented into following categories:
North America Palm Oil Market - By Derivative
North America Palm Oil Market - By Application:
Edible oil segment is expected to witness strong growth in upcoming years owing to health concerns regarding trans-fat consumption.
North America Palm Oil Market - By Region
The North America market has been geographically segmented into US, Canada and Mexico.USA has the highest demand followed by Canada and Mexico. The North America region is largely driven by industrial concerns.
KEY MARKET PLAYERS:
key market players of North America Palm Oil Market are Golden Agri Resources Limited, Godrej Agrovet Limited, PT Astra Agro Lestari Tbk, Cargill Inc, United Palm Oil Industry Public Company Limited, Wilmar International Limited, Sime Darby, IOI Corp, London Sumatra, Kulim Bhd,Musim Mas Group,Alami Group.
Frequently Asked Questions
Palm oil is primarily produced in tropical regions such as Southeast Asia, Africa, and South America. While North America is not a significant producer of palm oil, it is a major importer and consumer of the commodity.
Palm oil is used in a wide range of products in North America, including processed foods, baked goods, margarine, ice cream, cosmetics, and personal care products. It is valued for its versatile properties and long shelf life
While palm oil is widely used due to its cost-effectiveness and functionality, there are alternative oils available, such as soybean oil, sunflower oil, and canola oil. However, these alternatives may have their own environmental and social implications.
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