Global Palm Oil Market is expected to reach USD 88 billion by 2022, according to a new study by Grand View Research, Inc. Growing environmental concerns have prompted bio-fuel demand across the globe which is expected to remain a key driving factor for global palm oil market. In addition, consumer shift towards consumption of vegetable oils containing low trans-fat on account of growing health concerns has also contributed to the growth of palm oil industry. Crude palm oil was the largest palm oil derivative and accounted for over 75% of total market volume in 2014. Crude palm oil is widely used for cooking purposes. Low price of crude palm oil compared to its counterparts make it the most favorable cooking oil particularly in West Africa and South East Asia. Crude palm oil is also expected to witness the highest growth of 7.5% from 2015 to 2022.
http://www.grandviewresearch.com/industry-analysis/palm-oil-market
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