Palm Kernel Oil Market by Applications (Edible Oil, Cosmetics, Biodiesel, Lubricants, Surfactants and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022

Global palm kernel oil market is expected to reach USD 14.00 billion by 2022, growing at a CAGR of 4.5% between 2017 and 2022.

08-Aug-2017 | Number of pages: 110 | Report Code: ZMR-2026 | Report Format : | Status : Published

Analysis

Palm kernel oil is plant oil derived from a palm seed. The unique crop of palm produces crude palm oil from the mesocarp and crude palm kernel oil from the kernel. Palm kernel oil is more saturated than palm oil and primarily used for edible applications, and to manufacture soap, cream, lotion, and milk. It is primarily composed of fatty triglycerides, with around 80% saturated fats and 20% unsaturated fats. Palm kernel oil can be found in a number of products, including vegetable oil, margarine, creamers, chocolate and ice cream. Depending on the amount per serving, palm kernel oil may offer some health benefits.

Growing demand for biofuels is expected to drive the market for palm kernel oil in coming future. Biofuels offer multiple advantages over conventional non renewable energy sources. Moreover, in near future with increasing production of biofuels, the prices are expected to fall. Rising awareness about the benefits of naturally derived cosmetics and personal care products is also anticipated to strengthen the market. Continuous fluctuation in palm kernel oil price may hinder market growth. Due to limited availability of cultivable land and complete dependence on the environment the price of palm kernel oil is continuously fluctuating. As production of palm kernel oil is completely dependent on the availability of palm kernel, shortage in supply of raw material can impact production of palm kernel oil which in turn can result in the rise of price. Increasing number of concept retail stores and showrooms, along with rising demand from departmental stores, beauty product stores, are likely to add the demand for the product in the next few years. Developing countries are expected to focus on the development of palm kernel oil industry in order to push their economy, which in turn is expected to act as a major opportunity for palm kernel oil market.

Edible oil, cosmetics, biodiesel, lubricants, surfactants and others are the key applications of palm kernel oil. Among all applications, edible oil is the leading application segment has acquired the significant share in overall palm oil market in 2016 and is also expected to witness strong growth in upcoming years owing health concerns regarding trans-fat consumption. Palm kernel oil used in the formulation of skin care products, makeup, and sunburn products. Surfactant segment is expected to show significant growth in the near future.

Geographically, palm kernel oil market segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific constituted a major share in the palm kernel oil market in 2016, led by the high growth in food and personal care products in terms of revenue. It dominates the palm kernel oil market owing to the concentration of raw material production. Europe and North America also have a high demand for palm kernel oil. Countries like U.S., Germany, China, India, and Japan shows sustainable growth in coming future. The demand for palm kernel oil in Middle East & Africa and Latin America is likely to rise at a steady rate during the forecast period.

Key players operating in global palm kernel oil market are Cargill Inc., United Palm kernel oil Industry Public Company Limited, Wilmar International Limited, Sime Darby, Golden Agri Resources Limited, Godrej Agrovet Limited, PT Astra Agro Lestari Tbk, IOI Corp., Kulim BHD, Musim Mas Group, Alami Group and others.


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