Industry Insights
Demand is primarily influenced by the shift in trend towards bio-based cosmetics and the growing consumption of bio-based fuel sources to substitute declining fossil fuel reserves. The nation’s cosmetics industry is one of the largest in the Middle East. The influence of social media & Western culture has increased the pressure on individual grooming, personal care & physical appearance.
Iran palm oil market revenue by product, 2014-2025 (USD Million)
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This, in turn, has led to high demand for cosmetics, especially those conforming to sustainability trends & specifications. The termination of Western sanctions in Iran has positively affected industry growth in recent years. The removal of palm oil quota has also made it easier for traders to import the product from Malaysia and Indonesia among other nations.
Growing environmental concerns have also driven the consumption of renewable, alternative and sustainable fuel & energy sources in the automotive, manufacturing and other industries. Increasing biodiesel consumption to combat depleting fossil fuel reserves is a major influencing factor for product demand in Iran.
Product Insights
RBD products are also widely utilized for cooking, bakery, confectionery and other applications. Crude palm products also serve as a substitute for more expensive vegetable products such as coconut, sunflower, and groundnut. Its derivatives & variants are widely used for cooking and frying applications, preparation of soaps, bakery and confectionery applications.
The palm kernel sector may be broken down into palm kernel oil (PKO) and cake. PKO has specialized applications in confectionery fats as a substitute for cocoa butter. However, increasing awareness regarding high cholesterol levels due to PKO consumption has restricted industry growth.
Application Insights
Cosmetics is expected to emerge as the fastest growing segment with a CAGR of 10.9% from 2016 to 2025. The signing of an agreement between Iran and Western countries over the nuclear ambitions of the Islamic government has led to significant stabilization in the country. This has led to an improvement in the country’s business environment, attracting greater foreign investments.
The proliferation of advanced advertising campaigns and rise in the awareness regarding personal grooming & beauty has positively affected product demand in cosmetics. Furthermore, the shift in trend towards renewable & sustainable energy sources has had a positive impact on regional consumption patterns.
Download Iran Palm Oil Market Report, click the link below:
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Report Scope
| Attribute | Details |
| Base year for estimation | 2016 |
| Actual estimates/Historical data | 2014 - 2016 |
| Forecast period | 2017 - 2025 |
| Market representation | Volume in tons and revenue in USD Million & CAGR from 2016 to 2025 |
| Regional scope | Iran |
| Report coverage | Volume & revenue forecast, competitive landscape, growth factors and trends |
| 15% free customization scope (equivalent to 5 analyst working days) | If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
