Increased Consumption of More Than 1.05 MMT in 2021 in the Asia-Pacific Palm Oil Market

JAKARTA, Indonesia - Nov. 22, 2022 - PRLog -- Asia-Pacific palm oil market holds a prominent position in global palm oil demand and supply in presence of both major consuming countries and major producing countries. Palm oil is a high-yielding crop that provides 36% of the world's oil while occupying only 9% of the acreage dedicated to oil production. As a result, manufacturers have turned to this option to supply the growing demand for vegetable oil. Asia Pacific Palm Oil market revenues are expected to cross USD ~billion by 2027 from USD ~ billion in 2022 at a CAGR of more than 5.0% during the period.

Contribution to Asian Economies
Palm oil contributes significantly to the economies of many countries across Asia. The expansion of the palm oil industry has resulted in significant economic growth and poverty alleviation in Indonesia and Malaysia. It also has created job opportunities, the elevation of income, and developed rural infrastructure throughout these countries.

Asia's Contribution to Global Palm Oil Market
In addition to Indonesia, India, and China being major consumers of palm oil worldwide, Asia consumes approximately 60% of the world's palm oil. A combined 4.3 million people in Indonesia and Malaysia depend on palm oil as their primary source of income. These two countries produce 86% of the world's palm oil.

India and China Positioning in Asia-Pacific Palm Oil Consumption
Most palm oil produced in 2021 was exported to larger markets, including India and China because domestic consumption was very small compared to production. There was a strong surge in the consumption of palm oil in India in 2020.

Makreo research has published a study titled "Asia-Pacific Palm Oil Market Forecast to 2028: Production & Consumption Trends".

The report examines the palm oil Market revenue and categorizes it into:

• Demand by country
• India Palm Oil Market
• Indonesia Palm Oil Market
• China Palm Oil Market
• Thailand Palm Oil Market
• Pakistan Palm Oil Market
• Market by major producing countries
• Indonesia Production of Palm Oil
• Malaysia Production of Palm Oil
• Thailand Production of Palm Oil
• Demand by End Users
• Food & Beverages
• Personal Care Products
• Energy (including Biofuel)
• Market by Nature
• Voluntary sustainability standards (VSSs)
• Conventional

For more information on the research report, refer to below link:

Asia-Pacific Palm Oil Market Forecast to 2028- Production & Consumption Trends (https://www.makreo.com/report/asia-pacific-palm-oil-marke...)

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