Palm oil is an edible vegetable oil extracted from the reddish pulp of the oil palms. Sustainable Palm oil is naturally reddish in color because it has the component of high beta carotene. Sustainable palm oil means the palm oil which is manufactured under the guidance and rule of the Roundtable on sustainable palm oil (RSPO). To produce certified sustainable palm oil, manufactures has to follow the environmental and social criteria set by RSPO. It can also be kept in the room temperature. Palm oil also contains very little cholesterol. It is also used in products where animal fats are not accepted for the religion issues. It has been noticed that the palm oil is used in several industries to make the ultimate product. Those industries are also growing. So the demand of the palm oil will be more. So the market will expand very fast in the stipulated period of time.
Global Sustainable palm oil Market Dynamics: The market of sustainable palm oil market is anticipated to be driven by the various used of the product in a different way. It has a great cooking properties, even it can be used in the 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 (specially for biscuits). It has a natural perspective effect which helps the longevity of the food byresisting the oxidation that spoils them. It is also the highest producing vegetable oil crop which makes it very efficient. It needs less land required by other oil crops to produce same quantity of oil. It makes this cheaper than the other oil in the market.
Sustainable palm oil is also used in the cosmetic industry. Sustainable Palm oil ingredients are used in the skin care products, make up products. Due to have the rules and regulations of RSPO the producers are not able to destroy the environment and wild life. It keeps the social interest towards sustainable palm oil production and the conflict cannot be created between the communities and workers. Palm oil is available as an ingredients such as palm kernel oil, palm kernel stearin, palm kernel olein, partially hydrogenated palm oil, asorbyl palmitate, Palmate, Sodium Laureth Sulphate etc. Palm oil used as a frying fat for many food items, as a shortening in bakery products.
Sustainable palm oil market can be segmented on the basis of application of the palm oil such as food, soap and detergents, pet food and cosmetics. Then food also can be sub segmented such as bakery, ice cream & other frozen desserts, confectionery products and margarine. Palm oil market also can be segmented on the basis of types of the palm oil availability in the market such as palm kernel oil, red palm oil, fractional palm oil, white palm oil.Geographically
the global palm oil industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. Indonesia and Malaysia captured the highest market share in terms of the production of palm oil. Other production countries are Thailand, Columbia, Nigeria and Ecuador. China got the first position in terms of consumption of palm oil followed by EU, India, Indonesia and United States. Malaysia was the highest exporter of palm oil.
The major players identified across the value chain of global sustainable palm oil market include New Britain palm oil limited, Golden agri resources limited, IOI corporation Berhad, Wilmer international limited, Cargill, SIPEF group Belgium, Kulim berhad, Sime Darby plantation sendirian Berhad, Hap seng Plantation Holdings Berhad, Kuala lampur kepong Berhad.and United Plantation Berhad
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