The UAE palm oil market is expected to reach USD 467.1
million by 2025, according to a new report by Grand View Research, Inc. Growing
health concerns regarding trans-fat consumption has driven consumer preference
towards saturated fats, such as palm oil, that contain antioxidants and other
nutrients.
Increasing demand for high-quality
food products from tourists as well as local consumers has driven its demand.
Its fractions and derivatives are also widely utilized as alternatives for
expensive bakery fats and vegetable oils including groundnut, coconut &
sunflower. Additionally, food & beverage processors are increasingly opting
for the product owing to its high availability, lower cost & high yield in
limited cultivation space.
Crude palm oil (CPO) emerged as
the dominant product category in 2015 with over 90% market share. Volatile
petroleum prices along with rising awareness regarding sustainable energy &
raw material source have boosted the demand for inexpensive & sustainable
oils. CPO has garnered high interest mainly in cooking (edible) applications
owing to its flavor compatibility, nutritional content and health benefits.
Cosmetics are expected to witness
highest growth rate of 10.4% CAGR among all applcations. Strong consumer
confidence & growing fashion & beauty consciousness, boosted by media
exposure & Western influences have had a positive impact on the industry.
The oil is used as an emollient, surfactant, moisturizer and other cosmetic
agent owing to its high dermatological compatibility and low cost.
UAE palm oil market volume by product, 2014 - 2025 (Tons)
Browse full research
report on palm oil market: http://www.grandviewresearch.com/industry-analysis/uae-palm-oil-market
Further key findings from the report suggest:
- The UAE palm
oil market exceeded 155 kilo tons in 2015 and is expected to grow at about
8.2% CAGR from 2016 to 2025
- The shift in
trend towards production of high-quality oleo chemicals is expected to
generate lucrative opportunities for industry participants over the near
future
- The
transition towards sustainable and renewable energy sources has
significantly driven palm oil demand in biodiesel and bio-fuel
applications since the biomass yields high amount of energy even when
processed in small quantities
- Rapid
expansion of the construction sector has also contributed to palm
lubricants demand in heavy-equipment and machinery in residential as well
as commercial applications
- The palm stearin
segment is anticipated to grow at a CAGR of 8.6% in terms of volume, owing
to its enhanced functional characteristics that prove crucial to bakeries
& confectionaries across the country
- Other
fractions & derivatives have also witnessed significant growth in
recent years owing to the growing popularity of blended oils in the food
sector
- Key players
including Abu Dhabi Vegetable Oil Co., FELDA IFFCO, United Foods Company,
Amira Nature Foods Ltd., ACCL International, Nuhu General Trading LLC, AA
Middle East FZE, HAS Commodities, and AJWA MIGOP among others
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/uae-palm-oil-market-analysis
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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