South Korea Palm Oil Market

South Korea Palm Oil Market Overview:

The South Korea palm oil market size reached USD 1,089.94 Million in 2024. Looking forward, the market is expected to reach USD 1,475.18 Million by 2033, exhibiting a growth rate (CAGR) of 3.42% during 2025-2033. The market is influenced by the country's reliance on imports for edible oils, along with increasing application of palm oil across food processing, cosmetics, and biofuel sectors. Growing demand for affordable and versatile oils, and sustainability concerns are contributing to the evolving South Korea palm oil market share.

South Korea Palm Oil Market Trends:

Widespread Use in the Processed Food Industry

Palm oil's stability, affordability, and shelf life make it a star of South Korea's processed foods industry. It is found in instant noodles, bakery products, snacks, and sweets because it can preserve texture and taste for a long period. As the demand for convenience and ready-to-consume foods grows, manufacturers keep turning to palm oil. The well-established food processing sector of the nation also increases this demand. Palm oil, as a more economical alternative compared to other edible oils like soybean or sunflower oil, is still a choice of preference. Additionally, limited domestic oilseed production in South Korea makes it necessary to import palm oil for the purposes of industrial food production.

Rising Demand from the Personal Care and Cosmetic Industry

Palm oil and its derivatives, such as palm kernel oil and fatty acids, are essential ingredients in a wide array of personal care and cosmetic products, which is a major factor driving the South Korea palm oil market growth. These include soaps, shampoos, lotions, and makeup, where palm oil serves as a stabilizing and moisturizing agent. South Korea’s booming beauty and skincare industry, globally recognized for innovation and product diversity, relies heavily on sustainable and multifunctional ingredients like palm oil. With growing demand for cruelty-free, natural, and affordable beauty products, manufacturers continue to include palm-based components in formulations. Additionally, the rise of K-beauty in international markets encourages the scaling up of cosmetic production, indirectly increasing palm oil imports and consumption across the country.

Use in Biofuels and Industrial Applications

Palm oil is increasingly being utilized as a feedstock for biofuel production, particularly in the form of biodiesel. As South Korea aims to diversify its energy mix and meet climate targets, interest in bioenergy sources such as palm-based biodiesel is growing. Palm oil’s high yield and cost-efficiency make it an attractive renewable energy resource. Moreover, palm oil derivatives are used in industrial lubricants, detergents, surfactants, and other non-food applications. These industrial demands complement its usage in food and cosmetics, reinforcing its strategic importance. As government regulations and incentives continue to support renewable energy initiatives and eco-friendly industrial processes, palm oil is expected to play a larger role in South Korea’s sustainability transition.

South Korea Palm Oil Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on application.

Application Insights:

• Household Cooking
• Food and Beverages
• Oleo Chemicals
• Personal Care
• Animal Feed
• Bio-fuel

The report has provided a detailed breakup and analysis of the market based on the application. This includes household cooking, food and beverages, oleo chemicals, personal care, animal feed, and bio-fuel.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Palm Oil Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea palm oil market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea palm oil market on the basis of application?
• What is the breakup of the South Korea palm oil market on the basis of region?
• What are the various stages in the value chain of the South Korea palm oil market? 
• What are the key driving factors and challenges in the South Korea palm oil market?
• What is the structure of the South Korea palm oil market and who are the key players?
• What is the degree of competition in the South Korea palm oil market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea palm oil market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea palm oil market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea palm oil industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.