Palm Oil Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast growthmarketreports.com
The global palm oil market was valued at USD 44,712.0 Million in 2019 and is projected to reach USD 102,362.0 Million by 2030, expanding at a CAGR of 5.6% during the forecast period. Palm oil is an edible vegetable oil obtained from the fruit of oil palm trees. The scientific name of the oil palm tree is Elaeis guineensis. Generally, two types of palm oil are produced; crude, derived from the fleshy fruit and palm kernel, derived from the kernel or the stone of the fruit. Palm oil is a versatile oil and has many different properties and functions, which makes it a widely used oil. Palm oil is semi-solid at room temperature. It is resistant to oxidation, which provides long shelf-life of products. It is widely used for frying application in the food industry, as it is stable at high temperatures, which helps it to maintain the crispy and crunchy texture of the food. This odorless and slight yellow-colored oil does not alter the look and smell of the food.
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