Digital Journal (30/10/2017) - DUBLIN--(Business Wire)--The "Global Palm Oil Market 2017-2021" report has been added to Research and Markets' offering.

The global palm oil market is forecast to grow at a CAGR of 7.25% during the period 2017-2021.

The report, Global Palm Oil Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is the greater focus on sustainable cultivation of palm oil. Due to the rapid demand for palm oil, especially from the biodiesel industry, there have been increased cases of deforestation for the plantation of palm oil crop. This is more prevalent in the major palm oil-producing countries like Indonesia and Malaysia. Forests have been razed to the ground causing several negative impacts on the environment.

According to the report, one of the major drivers for this market is the lower prices of palm oil. Palm oil is the largest segment of the vegetable oils market. The major reason for it to occupy the largest segment is higher yield per unit of land. In comparison to other oils derived from trees/plants, palm oil is much cost-effective. The crop needs much less area to produce the same amount of oil as compared to sunflower and other crops. Hence, several vendors are increasing their production of palm oil.