Palm Oil Market is Expected to Reach 108 Million Tons by 2024 – IMARC Group
The global palm oil market has experienced moderate growth in recent years. This growing demand for palm oil can be attributed to its expanding applications in industries such as bio-fuel, food and beverage, cosmetics, and personal care. According to the latest research report by IMARC Group, titled “ Palm Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024 ”, the global palm oil market reached a volume of 77 Million Tons in 2018, expanding at a CAGR of nearly 7% during 2011-2018. Palm oil refers to edible vegetable oil which is procured from the mesocarp of the fruit of oil palms. The appearance of palm oil is reddish in color due to the high beta carotene content. Palm oil consumption is associated with numerous health benefits such as improving eye vision, increasing metabolism of the body, boosting the immune system, preventing premature aging and vitamin A deficiency, and reducing the risk of cancer and heart diseases. As a res...