Elaeis Guineensis (Palm) Fruit Extract Market

Elaeis Guineensis (Palm) Fruit Extract Market Overview

The elaeis guineensis (palm) fruit extract market is likely to register a CAGR of 6.1% during the forecast period and is anticipated to reach an elaeis guineensis (palm) fruit extract market share of US$ 59.08 Billion in 2032, from US$ 32.68 Billion in 2022. 

With shifting consumer opinions of plant-based food items, some of the world's leading food and beverage companies are planning to include plant components in their flagship goods, escalating the sales of elaeis guineensis (palm) fruit extract.

As a result, manufacturers' demand for elaeis guineensis (palm) fruit extract, as well as plant extract products, rises. Herbal extracts, Essential Oils, and flavors are the main forms of plant extracts gaining popularity in the global elaeis guineensis (palm) fruit extract market along with surging sales of elaeis guineensis (palm) fruit extract.

What has been the Impact of COVID-19 on Elaeis Guineensis (Palm) Fruit Extract Market?

Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the World Health Organization to declare it a public health emergency.

The worldwide effects of the coronavirus sickness have been seen and will have a substantial influence on the elaeis guineensis (palm) fruit extract market and may topple the sales of elaeis guineensis (palm) fruit extract.

What Factors Led to the Growth of the Elaeis Guineensis (Palm) Fruit Extract Market?

Growing consumer awareness of health & safety is sky-touching. With their growing knowledge, consumers are now focusing on products that are either natural or organic. This has a serious effect on the elaeis guineensis (palm) fruit extract market. In today’s world, consumers are looking for natural or organic food products, natural cosmetics, etc. 

Growing demand for elaeis guineensis (palm) fruit extract along with natural or organic products has forced manufacturers to come up with relevant products or products with such ingredients. Consumers prefer to use oil with health benefits for cooking, natural food products to eat, etc. The demand for elaeis guineensis (palm) fruit extract oil is growing in all regions at a significant pace due to its beneficial health properties.

Elaeis Guineensis (Palm) fruit extract is also growing in the elaeis guineensis (palm) fruit extract market due to its beneficial properties for the human body, whether it is skincare or haircare, or human health. 

Elaeis Guineensis (Palm) fruit extract contains healing agents, regenerating or revitalizing agents, antioxidants, anti-aging, and anti-acne care properties, which drive usage in natural cosmetic products. Due to the growing demand for elaeis guineensis (palm) fruit extract, manufacturers are producing the Elaeis Guineensis (Palm) fruit extracts.

A higher degree of concentration in terms of palm tree cultivation has been seen in the Asia Pacific. The popularity of elaeis guineensis (palm) fruit extract is growing due to its heavy usage in the cosmetic & food & beverages industry.

What is the Regional Outlook of the Elaeis Guineensis (Palm) Fruit Extract Market?

Changing lifestyles and growing health & fitness consciousness generate demand for elaeis guineensis (palm) fruit extract and natural and organic products across the world.

Developed countries such as North America and Europe are the key countries that are believed to have the highest rate of demand for elaeis guineensis (palm) fruit extracts along with sales of elaeis guineensis (palm) fruit extracts.

Europe’s higher cosmetic companies’ concentrations have driven the elaeis guineensis (ealm) fruit extract market for the particular region.  

The Asia Pacific is believed to have a significant growth rate for demand for elaeis guineensis (palm) fruit extract companies, along with skyrocketing sales of elaeis guineensis (palm) fruit extracts due to the higher degree of production of palm trees in Indonesia and Malaysia. 

The end product demand for elaeis guineensis (palm) fruit extract is estimated to generate from China, Japan, India, Korea, and other countries in this region. Malaysia & Indonesia have more than 50% of the total palm production in the world.

The Middle East & Africa is projected to contribute a significant global elaeis guineensis (palm) fruit extracts market share and sales of elaeis guineensis (palm) fruit extract over the forecast period.

Sneha Verghese

Principal Consultant

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How Competition Intensifies the Elaeis Guineensis (Palm) Fruit Extract Market?

Some of the major players in the elaeis guineensis (palm) fruit extract market who contribute to the sales of elaeis guineensis (palm) fruit extract are Connoils USA, Oil Palm India Ltd., AMJ Indonesia, PT Global Interinti Industry, Soon Soon Oilmills Sdn Bhd, Mewah Group and others. 

These key elaeis guineensis (palm) fruit extract market players are estimated to enhance the elaeis guineensis (palm) fruit extract market growth with innovative product formulations and its launch.

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KEY SEGMENT

Based on form:

• Oil
• Crude Palm Oil
• Palm Kernel Oil
• Bioactive Compounds

Based on extraction method:

• Supercritical Carbon Dioxide
• Aqueous
• Solvent Extraction
• Cold Pressed
• Others

Based on nature:

• Organic
• Natural

Based on price:

• High Range
• Mid-Range
• Low Range

Based on end use:

• Cosmetics
• Food & Beverages
• Others