Malaysia Palm Oil Market: Palm oil is a specific type of edible (suitable for eating) vegetable oil, which is usually extracted from the mesocarp or reddish pulp of the oil palm fruit. It is commonly used in the production of greases, candles and lubricants, which increases the growth of market. It is generally in products like soaps, detergents, lipsticks, skin-care products, ice cream and among others. It provides various nutritional benefits such as easy to digest, cholesterol-free, and rich in carotenoids, as well as Vitamin A.
Palm oil has high resistance to oxidation for long periods of time, has a longer shelf-life than other oils and is a rich source of vitamins. It gives various health benefits that help to increase the energy levels, enhance eye vision, boost the secure system, avoid inopportune aging, and reduce the imminence of cancer & heart disease. Palm oil is generally categorized into palm seed oil, unrefined palm oil, and others. Increasing demand for edible oils, changing consumption habits of consumers towards nutritional-diet and growing consumer awareness regarding the positive health benefits of palm oil, are driving the market growth in recent years
Referring to the study, “Malaysia Palm Oil Market Outlook to 2018 – Demand for Bio Fuel to Drive Production” the key companies operating in the Malaysia palm oil market include Wilmar International, Kuala Lumpur Kepong, Sime Darby Plantation, FELDA, United Plantation, Hapseng Plantation Berhard, Boustead, Tradewinds Plantation Berhard, IOI Corporation and among others. Key manufacturers have established a partnership with the farmers to grow palm-groves for production as well as provide training and assistance in making products of excellent quality. Manufacturers are also focusing on creating an advanced product-portfolio by making noteworthy investments in research & development activities.
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Based on product type, Malaysia palm oil market can be bifurcated as crude palm kernel oil, crude palm oil, palm kernel, palm kernel cake, palm stearin, palm olein, bio fuels and oleo chemicals. Crude palm oil segment holds major share in market due to increase in consumption in oleo chemicals production of agrochemicals and cleaning products. Additionally, palm kernel oil segment is estimated to witness higher growth rate because of its beneficial properties for instance 80% saturated fat content coupled with high medium chain fatty acids (lauric acids, capric, and caprylic) content during the forecast period.
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Increase in consumer awareness about specific health benefits of palm oil, followed by rise in demand for oils & fats, change in dietary preferences, rise in disposable income, increase in demand for non food applications and rise in from end-use sectors are some major factors, which are responsible for growth of the Malaysia palm oil market. Apart from this, increase in concerns regarding deforestation & plant diversity losses may impact the market.
Malaysia country is the foremost producer of palm oil in the globe. It is projected that future of the Malaysia palm oil market will be optimistic on account of increase in palm oil consumption in different industries, presence of key market players and increase in health concerns regarding trans-fat consumption, rise in demand for biofuels and increase in per capita expenditure on consumer products during the forecast period.
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