The Brazil palm oil market size is expected to reach USD 2.17 billion by 2025, as per a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 13.6% during the forecast period. Factors such as increasing utilization in food application coupled with the ascending consumption of palm oil as a raw material for edible oils is expected propel the growth.
Brazil is expected to witness an increase in the consumption of palm oil owing to high demand from biodiesel and lubricants sectors. However, declining socio-economic conditions and hazardous environmental effects associated with palm oil are expected to restrain the growth of the market over the forecast period.
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Palm oil cultivation requires suitable climatic conditions and is anticipated to mainly witness growth in the countries from equatorial region. The government of Brazil created an association call Abrapalma to encourage palm oil cultivation and is also offering incentives to endorse investments in the sector.
Manufacturers are looking for better alternatives to reduce the total production costs of palm oil to gain higher market share and thus the competitive rivalry is anticipated to be high. Thus, new entrants are likely to observe high competition from the established players.
Further key findings from the study suggest:
- Rising demand for crude palm oil as it is a rich source of tocotrienols with high vitamin E and antioxidant content, is likely to boost growth of the segment
- Palm kernel cake segment is expected to register the fastest CAGR owing to its potential use in lactating cow feed by supplementing adequate amount of protein extracts
- Rising demand from cosmetics and surfactants sector on account of rise in discretionary spending power is likely to continue being a macro driver for the market
- Lubricants segment is expected to register the fastest CAGR owing to the ability of the product to reduce carbon dioxide emissions
- Manufacturers are focusing on mergers and acquisitions to increase the client base and to market presence
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Grand View Research has segmented the Brazil palm oil market on the basis of product type and application:
Brazil Palm Oil Product Outlook (Volume, Kilotons, Revenue, USD Million, 2014 – 2025)
- Crude Palm Oil
- Palm Kernel Oil
- Palm Kernel Cake
- Palm Kernel Oilseed
Brazil Palm Oil Application Outlook (Volume, Kilotons, Revenue, USD Million, 2014 – 2025)
- Edible oil
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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