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Colombia Palm Oil Market: By Origin: Organic, Conventional; By Product: Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, Fractionated Palm Oil, Others; By End Use: Food and Beverage, Biofuel and Energy, Others; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape, Industry Events and Developments

Colombia Palm Oil Market Outlook

The Colombia palm oil market is being supported by the Latin America palm oil market, which attained a volume of nearly 4 million metric tons in 2020. The Latin America region accounts for 6.2% of the global production.

 

Favourable Frying Properties and Health Benefits of Palm Oil Aiding the Growth of Palm Oil Industry in Colombia

Colombia is the largest producer of palm oil in Latin America. As the cooking of traditional and cultural food in the region is based on frying, palm oil is extensively used as it has beneficial frying properties and can be reused than other edible oils. Moreover, various benefits are attributed to palm oil, the consumption of which can prevent vitamin A deficiency, high blood pressure, ageing, and cancer. The awareness regarding the benefits of palm oil is boosting the market growth. Additionally, palm oil is widely used in various industries, including the cosmetics and personal care industry, for foaming, moisturising, and texturising properties, which is further augmenting its market growth.

 

Colombia Palm Oil Market

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Palm oil is cost-effective, due to which it is increasingly preferred by the emerging middle class population in the region. It is consistent after refining and blends easily with other oils; therefore it is widely used in various packaged food and beverage, consequently fuelling the market growth. The surging use of biofuels as an environment-friendly alternative to fossil fuels is also aiding the market growth. While various biofuels, such as soybean, palm, rapeseed, and sunflower oil, perform with equal effectiveness, palm oil is widely preferred due to its cheap price, hence invigorating the market growth.

 

Palm Oil: Industry Definition and Segmentation

Palm oil is referred to as edible vegetable oil that is extracted from the fruit of oil palm. Oil palm trees are mostly grown in the tropical region and are typically used for cooking, especially in developing countries. It is also used in various food products, cosmetics, and detergents.

The major origins of palm oil are:

  • Organic
  • Conventional

The market can be broadly categorised on the basis of its products into:

  • Crude Palm Oil
  • RBD Palm Oil
  • Palm Kernel Oil
  • Fractionated Palm Oil
  • Others

Based on the end use, the market is divided into:

  • Food and Beverage
  • Personal Care and Cosmetics
  • Biofuel and Energy
  • Pharmaceuticals
  • Industrial
  • Others

 

Growing Demand for Sustainable Palm Oil to Bolster the Growth of the Palm Oil Industry in Colombia

The rising demand for palm oil in Colombia can be attributed to the growing popularity of sustainable palm oil, which does not add to carbon footprint. As Colombia is a trademark for sustainable palm oil production, it is extensively consumed domestically, hence aiding the market growth. The surging consumption of fats in the form of palm oil owing to inflating disposable income is also propelling the market growth. Moreover, the rapid penetration of fast-food restaurants, especially from the United States, including KFC, Dominos, Burger King, Papa John, and Krispy Kreme, among others, use palm oil extensively in their most popular food products. This is further accelerating the market growth.

The shift from animal-based ingredients in the personal care and cosmetics industry owing to rising safety concerns and surging demand for cruelty-free products is increasing the use of palm oil in various products, thus providing further impetus to the market growth. The USDA Foreign Agricultural Service (FAS) estimated that the palm oil sector is capable of generating 340MW of electric power. It also asserted that with innovations and development, the industry could generate more power resources to sell to local utilities. This is expected to further augment the market growth.

 

Key Industry Players in the Colombia Palm Oil Market

The report presents a detailed analysis of the following key players in the Colombia palm oil market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Cargill, Incorporated
  • Guaicaramo SAS
  • Bunge Limited
  • Wilmar International Ltd.
  • Louis Dreyfus Company
  • Extractora Monterrey SA
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Colombia
7    Industry Opportunities and Challenges
8    Colombia Palm Oil Market Analysis

    8.1    Key Industry Highlights
    8.2    Colombia Palm Oil Historical Market (2016-2020) 
    8.3    Colombia Palm Oil Market Forecast (2021-2026)
    8.4    Colombia Palm Oil Market by Origin
        8.4.1    Organic
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Conventional
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Colombia Palm Oil Market by Product
        8.5.1    Crude Palm Oil
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    RBD Palm Oil
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Palm Kernel Oil
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Fractionated Palm Oil
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Others
    8.6    Colombia Palm Oil Market by End Use
        8.6.1    Food and Beverage
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Personal Care and Cosmetics
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Biofuel and Energy
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Pharmaceuticals
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Industrial
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2016-2020)
            8.6.5.3    Forecast Trend (2021-2026)
        8.6.6    Others
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyer’s Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    EMR’s Key Indicators for Demand
    9.4    EMR’s Key Indicators for Price
10    Value Chain Analysis
11    Trade Data Analysis (HS Code - 1511)

    11.1    Major Importing Countries
        11.1.1    By Volume
        11.1.2    By Value
    11.2    Major Exporting Countries
        11.2.1    By Volume
        11.2.2    By Value
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Cargill, Incorporated
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Guaicaramo SAS
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Bunge Limited
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Wilmar International Ltd.
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Louis Dreyfus Company
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Extractora Monterrey SA
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    Others
14    Industry Events and Developments

 

List of Figures and Tables

1.    Colombia Palm Oil Market: Key Industry Highlights, 2016 and 2026
2.    Colombia Palm Oil Historical Market: Breakup by Origin (Million Metric Tons), 2016-2020
3.    Colombia Palm Oil Market Forecast: Breakup by Origin (Million Metric Tons), 2021-2026
4.    Colombia Palm Oil Historical Market: Breakup by Product (Million Metric Tons), 2016-2020
5.    Colombia Palm Oil Market Forecast: Breakup by Product (USD Million Metric Tons), 2021-2026
6.    Colombia Palm Oil Historical Market: Breakup by End Use (USD Million Metric Tons), 2016-2020
7.    Colombia Palm Oil Market Forecast: Breakup by End Use (USD Million Metric Tons), 2021-2026
8.    Major Importing Countries by Volume (2020)
9.    Major Exporting Countries by Volume (2020)
10.    Major Importing Countries by Value (2020)
11.    Major Exporting Countries by Value (2020)
12.    Colombia Palm Oil Market Structure

Key Questions Answered in the Report

The Colombia palm oil market is supported by the Latin America palm oil market, which attained a volume of almost 4 million metric tons in 2020.

The market is being aided by the rising use of palm oil in the cosmetics and personal care industry as well as the food and beverages industry.

The market is expected to be driven by the surging demand for sustainable palm oil, growing consumption of fat by the emerging middle class, and the use for palm oil as a substitute to animal-based ingredients in cosmetics.

The major origins of palm oil in the industry are organic and conventional.

The significant products in the market are crude palm oil, RBD palm oil, palm kernel oil, and fractionated palm oil, among others.

The end uses of palm oil are food and beverage, personal care and cosmetics, biofuel and energy, pharmaceuticals, and industrial, among others.

The major players in the industry are Cargill, Incorporated, Guaicaramo SAS, Bunge Limited, Wilmar International Ltd., Louis Dreyfus Company, and Extractora Monterrey SA, among others.

Analyst Review

The Colombia palm oil market is supported by Latin America palm oil market, which attained a volume of about 4 million metric tons in 2020, driven by the rising use of palm oil in food and beverages owing to its numerous health benefits. Aided by the rising demand for sustainable palm oil, the market is expected to witness a healthy growth in the forecast period of 2021-2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its origin, the palm oil industry can be segmented into organic and conventional. On the basis of products, the industry is divided into crude palm oil, RBD palm oil, palm kernel oil, and fractionated palm oil, among others. By end uses, the market is categorised into food and beverage, personal care and cosmetics, biofuel and energy, pharmaceuticals, and industrial, among others. The key players in the above market include Cargill, Incorporated, Guaicaramo SAS, Bunge Limited, Wilmar International Ltd., Louis Dreyfus Company, and Extractora Monterrey SA, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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