South Korea Palm Oil Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic and Conventional), By Product (Crude Palm Oil, RBD Palm Oil, Palm Kernel Oil, and Fractionated Palm Oil), By and South Korea Palm Oil Market Insights, Industry Trend, Forecasts to 2035

South Korea Palm Oil Market Insights Forecasts to 2035

• The South Korea Palm Oil Market Size Was Estimated at USD 1078.94 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 3.38% from 2025 to 2035
• The South Korea Palm Oil Market Size is Expected to Reach USD 1555.18 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Palm Oil market is anticipated to reach USD 1555.18 million by 2035, growing at a CAGR of 3.38% from 2025 to 2035. The south Korea palm oil market is driven by rising processed food demand, cost-effectiveness, growing foodservice industry, versatile applications in food and cosmetics, and increasing urban population and convenience food consumption.  

Market Overview

The Palm Oil Market Size in south Korea refers to the production, import, and consumption of palm oil. Palm oil is a versatile oil derived from the fruit of oil palm trees. Pal oil is known for its stability at high temperatures, long shelf life and affordable as compares to other edible oils hence it is used in various industries such as food & beverage, personal care & cosmetics, biofuel & energy, pharmaceuticals, and others. Palm oil is available in organic and conventional nature. It is used in quick noodles, bakery items, snacks, and desserts because it maintains its texture and flavor for a long time. The rising urban populations and busy lifestyles raises the demand for ready to eat and sustainable food products which increases the consumption of snacks, baked goods, instant noodles, and confectionery products is one of the major contributors for this market. The rising shift towards sustainable palm oil is one of the key trends for this market.

Report Coverage

This research report categorizes the market for the south Korea palm oil market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the south Korea palm oil market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the south Korea palm oil market.

Driving Factors

Rising consumption of snacks, baked goods, and instant noodles is one of the notable drivers for this market. The rapid growth of fast-food chains and restaurants in South Korea is increasing the need for frying and cooking oils, particularly palm oil, in commercial kitchens and foodservice operations. Palm oil and its derivatives are in high demand due to the developing South Korean beauty and skincare sector, notably K-beauty, which uses them as stabilizing and moisturizing agents in soaps, shampoos, lotions, and cosmetics.

Restraining Factors

The people are becoming more aware of the negative health effects of excessive saturated fat consumption in palm oil which limit the market expansion. Additionally, competition from alternative oils such as soybean, canola, and sunflower limit the market growth.

Market Segmentation

The South Korea palm oil market share is classified into nature and form.

• The conventional segment held a largest share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The south Korea palm oil market is segmented by nature into organic and conventional. Among these, the conventional segment held a largest share in 2024 and is expected to grow at a significant CAGR during the forecast period. This segmental growth is attributed to its low price and easy availability. Conventional oil palm farms are an important source of revenue for small and medium-sized farmers since they may boost output with the use of synthetic chemicals.

• The fractionated palm oil segment held a highest share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The south Korea palm oil market is segmented by product into crude palm oil, RBD palm oil, palm kernel oil, and fractionated palm oil. Among these, the fractionated palm oil segment held a highest share in 2024 and is expected to grow at a significant CAGR during the forecast period. This segmental growth is attributed to its easy availability and affordable prices. It is particularly popular in low-income nations since it is widely available and inexpensive to the masses. The constituent nature of the product makes it more profitable to manufacture in big quantities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the south Korea palm oil market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ADM
• Wilmar International Ltd.
• Sime Darby Plantation Berhad
• IOI Corporation Berhad
• Kuala Lumpur Kepong Berhad
• United Plantations Berhad
• Kulim (Malaysia) Berhad
• Univanich Palm Oil Public Company Ltd.
• PT. Bakrie Sumatera Plantations Tbk
• Asian Agri

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the south Korea palm oil market based on the below-mentioned segments:

South Korea Palm Oil Market, By Nature

• Organic
• Conventional

South Korea Palm Oil Market, By Product

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