Global palm oil market to reach $89.53 billion by 2034, research finds
In New York, Vocal Media reported that the global palm oil market is projected to grow from $61.19 billion in 2025 to $89.53 billion by 2034, registering a compound annual growth rate (CAGR) of 4.32% during 2026–2034.
The report highlighted that rising applications in food processing, cosmetics, personal care, and biofuel production are expected to support sustained market growth over the coming decade.
“Palm oil remains one of the most cost-effective feedstocks for biodiesel because of its high yield and efficient production process. Many countries have introduced blending mandates that require renewable fuels to be mixed with conventional diesel,” the report stated.
“The United States continues experiencing steady demand for palm oil across food processing, cosmetics, detergents, and biodiesel industries, while many manufacturers increasingly adopt RSPO-certified sustainable palm oil,” it added.
Category: Food & Agriculture
