Palm Oil Market Size to Skyrocket USD 113.97 Billion by 2035; Growing at 4.7% CAGR | SNS Insider

U.S. Palm Oil Market to Reach USD 7.68 Billion by 2035; Europe Market to Grow to USD 14.13 Billion as Food, Biofuel and Sustainable Sourcing Demand Expands

Austin, Sept. 10, 2026 (GLOBE NEWSWIRE) -- According to SNS Insider, The Palm Oil Market was valued at USD 72.04 Billion in 2025 and is projected to reach USD 113.97 Billion by 2035, registering a CAGR of 4.7% from 2026 to 2035.

Palm oil comes from the fruit of oil palm trees and continues to be among the most popular vegetable oils in the world due to its high production efficiency and wide application in food products, cosmetics, pharmaceuticals, detergent products, oleochemicals, and biofuels. Growth in the demand from the food and beverages industry drives the market, with new growth being seen in biofuel mandates. Sustainability, traceability of supply chains, integration of downstream activities, and processing technologies are other important trends in the market. In 2025, Wilmar International expanded their downstream activities in palm oil refining and processing.

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Why This Market Matters?

Palm Oil Market holds relevance due to the wide-ranging usage of the product in various sectors such as food & beverage, cosmetics, personal care, pharmaceuticals, detergents, biodiesel, and oleochemicals. Some of the main factors driving the demand for palm oil are rising demand for inexpensive edible oils, increased consumption of processed food products, fuel demands, and incorporation of palm-based products in industries.

Rising Food and Biofuel Demand Underpins Steady Growth

This particular industry stands to benefit immensely from the increased global demand for packaged foods, the increase in middle-class populations, and the continuous expansion in the utilization of palm oil in cosmetics, personal care products, and industrial applications. Biofuels have proven to be a key driver of growth in the industry since palm oil plays a critical role as a biodiesel feedstock.

Regional Analysis

North America had an important part in generating revenues due to the presence of a wide range of food processing applications in the region along with rising demands for palm oil-based cosmetics and personal care products. Biofuel mandate compliance led to a consistent increase in demand for palm oil as a biodiesel source on the continent.

• The US Palm Oil Market Size is expected to be approximately USD 4.90 Billion in 2025 and projected to reach approximately USD 7.68 Billion by 2035, at a CAGR of around 4.6% between 2026 and 2035. Growth in the market size will be due to increased use in food processing and biofuel applications in the region.

The Europe Palm Oil market still holds a very important share in the global market, contributing around 13% to global revenue in 2025. The Europe Palm Oil Market had revenues worth of around USD 9.37 Billion in 2025 and is forecasted to touch USD 14.13 Billion by 2035, exhibiting growth at CAGR of around 4.20% between 2026 and 2035. The demand within regional market is driven by strict sustainability guidelines as well as the adoption of certified and traceable palm oil in a wide range of applications including food products, cosmetics, personal care and biofuels. The Netherlands is leading demand in the European region through its position as the main palm oil importing and processing region.

Asia-Pacific is also the fastest growing regional market of Palm Oil market because of high production and consumption volumes, better processing technology, increased food demand and wide variety of applications in biofuels, cosmetics, personal care and oleochemicals. Indonesia and Malaysia are still dominating in terms of production in this market while further investments into yield improvement and processing help to lead the regional market.

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Market Segmentation

By Nature

The Conventional Palm Oil maintained its leading position in 2025 owing to its efficiency in production, cost-effective and availability in the food processing industry, industries, and production of biofuels. The fastest growing product under the nature category is Organic Palm Oil with a CAGR of around 4.5% owing to rising consumer awareness about sustainability and ethically sourced products.

By Product Type

Crude Palm Oil was the leading market player with a market share of about 76.7% in 2025 owing to the widespread applications in food and beverages, cosmetics, pharmaceuticals, and industry. Palm Kernel Oil is the fastest growing product segment with a CAGR of about 5.45%, driven by increased usage in personal care, cosmetics, gourmet foods, and high value-added palm products.

By Application

In 2025, Food and Beverage industry held the largest market share in terms of revenue, accounting for about 72.7%, owing to the wide usage of palm oil in food processing industry, packaged food products, bakery items, confectionaries, instant foods, and other consumer goods. The Biofuels and Energy segment is experiencing a growth of approximately 3.4% CAGR owing to the growing consumption of palm oil in biodiesel and biogas production.

Exclusive Sections of the Report (USPs)

• NATURE ADOPTION & SUSTAINABILITY METRICS – helps you understand adoption trends across conventional and organic palm oil and competitive positioning across food, cosmetics, personal care, biofuel, and industrial markets.
• PRODUCT TYPE & DERIVATIVE PERFORMANCE METRICS – helps you evaluate crude palm oil and palm kernel oil adoption trends across bulk food, specialty food, cosmetics, personal care, and industrial applications.
• FOOD & BEVERAGE APPLICATION METRICS – helps you analyze palm oil consumption patterns across processed foods, packaged foods, bakery, confectionery, instant foods, and other food manufacturing applications.
• BIOFUEL & RENEWABLE ENERGY METRICS – helps you assess palm oil adoption across biodiesel, biogas, renewable power generation, and sustainability-linked energy applications.
• SUSTAINABLE SOURCING & TRACEABILITY METRICS – helps you identify supply-chain opportunities and risks across certified sustainable palm oil, deforestation-free sourcing, traceability systems, and regulatory compliance.
• COMPETITIVE LANDSCAPE & DOWNSTREAM INTEGRATION METRICS – helps you gauge the competitive strength of key palm oil suppliers based on plantation capacity, refining, specialty derivatives, sustainable certification, and geographic footprint globally.

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Recent Developments

• 2025: Sime Darby Plantation continued expanding its sustainable palm oil certification and traceability program to support food and cosmetics manufacturers seeking verified deforestation-free supply chains.
• 2025: Bunge continued advancing downstream palm oil refining and specialty derivative production capabilities targeting cosmetics and personal care manufacturers seeking higher-value palm oil ingredients.

Palm Oil Market Key Players are

• Wilmar International Limited
• Sime Darby Plantation Berhad
• Cargill, Incorporated
• Bunge Limited
• Olam Group Limited
• FGV Holdings Berhad
• IOI Corporation Berhad
• Kuala Lumpur Kepong Berhad
• Golden Agri-Resources Ltd.
• Musim Mas Holdings Pte. Ltd.
• Asian Agri
• Genting Plantations Berhad
• First Resources Limited
• Astra Agro Lestari Tbk PT
• Indofood Agri Resources Ltd.
• United Plantations Berhad
• Godrej Agrovet Limited
• Bumitama Agri Ltd.
• Apical Group Ltd.
• Louis Dreyfus Company B.V.

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Palm Oil Market Report Scope

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