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Palm Oil Market Size, Value And Growth Trends Through 2030
The palm oil market has experienced consistent growth over the past few years. It is projected to expand from $69.46 billion in 2025 to $72.71 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 4.7%. The historical increase in market size can be attributed to factors such as the expansion of palm plantation acreage, rising global edible oil consumption, growth in personal care product manufacturing, increasing utilization in industrial applications, and the development of large-scale refining infrastructure.
The palm oil market is projected to experience steady growth in the upcoming years, with its value expected to reach $88.15 billion by 2030, at a compound annual growth rate (CAGR) of 4.9%. This expansion during the forecast period can be attributed to the rising demand for sustainable oils, escalating biofuel blending mandates, the broadening of certified supply chains, increasing investments in modernizing plantations, and the greater adoption of digital tools for plantation management. Key trends for the forecast period include the increasing uptake of certified sustainable palm oil, a growing need for biofuel-grade palm oil, the deeper integration of traceability systems, an increase in downstream refining capacity, and a heightened focus on optimizing yields.
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Palm Oil Market Demand Drivers: What Is Fueling Industry Growth?
The palm oil market is anticipated to expand due to rising demand from the biofuel sector. Biofuel refers to any type of fuel derived from biomass, also known as organic matter. Palm oil is a popular feedstock for creating biodiesel via transesterification, a process where the oil transforms into biodiesel. Its high yield and availability make it an excellent choice for this purpose, contributing to better air quality. For example, GOV.UK, a UK public sector website, reported in September 2025 that 153 million liters of biofuel for the UK road transport market were sourced from UK-grown crops in 2023. Consequently, the growing demand from the biofuel industry is stimulating the expansion of the palm oil market.
Palm Oil Market Segment Breakdown: Which Categories Generate The Most Revenue?
The palm oil market covered in this report is segmented –
1) By Product: Crude Palm Oil, RBD Palm Oil
2) By Nature: Organic, Conventional
3) By End Use: Food And Beverage, Personal Care And Cosmetics, Biofuel And Energy, Pharmaceutical, Industrial
Subsegments:
1) By Crude Palm Oil (CPO): Raw Crude Palm Oil, Unrefined Crude Palm Oil
2) By RBD Palm Oil: RBD Palm Olein, RBD Palm Stearin
Palm Oil Market Key Players And Strategic Industry Positioning
Major companies operating in the palm oil market are Wilmar International Ltd, Sime Darby Plantation Berhad, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad, United Plantations Berhad, Kulim Berhad, PP London Sumatra Indonesia, The Archer-Daniels-Midland Company, Asian Agri, Cargill Inc., Godrej Agrovet Limited, Golden Agri Resources Limited, IJM Corporation Berhad, Boustead Plantations, Asiatic Development Berhad, PT Sampoerna Agro Tbk, Univanich Palm Oil Public Company Ltd., PT. Bakrie Sumatera Plantations tbk, Musim Mas Group, Astra Agro Lestari Tbk, Genting Plantations Berhad, Felda Global Ventures Holdings Berhad, First Resources Limited, PT Astra Agro Lestari Tbk, Darmex Agro Group, Salim Ivomas Pratama Tbk, Sipef, Bumitama Agri Ltd., PT Dharma Satya Nusantara Tbk, Fuji Oil Holdings
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Palm Oil Market Geographic Distribution And Regional Opportunities
Asia-Pacific was the largest region in the palm oil market in 2025. North America is expected to be the fastest-growing region in the palm oil market report during the forecast period. The regions covered in the palm oil market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.