Palm Kernel Oil Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply Gap, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, 2015-2034

The global Palm Kernel Oil market stood at approximately 7 million tonnes in 2023 and is anticipated to grow at a CAGR of 2.56% during the forecast period until 2034. 

 

Palm kernel oil (PKO) is a type of edible vegetable oil extracted from the kernel of the oil palm tree, scientifically known as Elaeis guineensis. PKO serves a multitude of purposes across industries. Primarily used in the food sector for cooking and as an ingredient in various processed foods, its stability and extended shelf life make it a favoured choice. Additionally, it finds application in cosmetics and personal care products for its moisturizing properties, while in the pharmaceutical industry, it serves as a base oil in topical treatments and dietary supplements. Industrially, it acts as a key component in lubricants, biodiesel, and oleochemical production. Furthermore, it contributes to animal feed formulations, providing essential nutrients for livestock and poultry. The versatility of palm kernel oil underscores its significance in diverse sectors, driving its widespread use and demand globally.

 

The palm kernel oil market is witnessing several impactful trends that shape its trajectory and dynamics. Notably, a surge in demand within the food and beverage sector, primarily attributed to the oil's multifaceted applications as both a cooking oil and an ingredient in various processed foods. The major application is in the production of oleochemicals. PKO plays a pivotal role in the oleochemical industry, serving as a primary feedstock for various chemical products. Its high content of Lauric Acid makes it particularly valuable for oleochemical formulations, and its widespread availability and cost-effectiveness further enhance its appeal as a feedstock. Derived from PKO, key oleochemicals include fatty acids like lauric acid and myristic acid, essential for products such as soaps, detergents, cosmetics, and food additives. Additionally, fatty alcohols derived from PKO are utilized in detergents, plasticizers, and personal care items for their cleaning and moisturizing properties. Methyl esters produced through PKO transesterification find applications in biodiesel and lubricants, offering renewable and environmentally friendly alternatives to conventional fuels and industrial lubricants. Overall, PKO's versatility and utility as a feedstock contribute significantly to the production of various oleochemicals, catering to diverse industrial needs while promoting sustainability and environmental responsibility. Moreover, the growing recognition of palm kernel oil's health benefits, including its high saturated fat and vitamin E content, further bolsters its appeal among consumers seeking nutritious options. Simultaneously, there's a noticeable uptick in the utilization of palm kernel oil in the cosmetics and personal care industry. Renowned for its moisturizing properties, palm kernel oil finds widespread use in skincare products, hair care formulations, and soaps. This trend is propelled by the increasing preference for natural and sustainable ingredients in cosmetic formulations, with palm kernel oil standing out due to its plant-based origin and renewable characteristics. Furthermore, evolving consumer preferences and lifestyle changes significantly impact the palm kernel oil market. With consumers increasingly prioritizing health and environmental consciousness, there's a growing demand for products perceived as natural, organic, and eco-friendly. The global Palm Kernel Oil market is likely to reach approximately 9.3 million tonnes in 2034. 

 

Based on region, Asia Pacific region is likely to hold the largest market share in terms of consuming Palm Kernel Oil. In 2023, Asia Pacific region held about 53% of the palm kernel oil market.  The Asia Pacific region is poised to hold the largest market share in consuming Palm Kernel Oil (PKO) for several reasons. Firstly, the region has a large population, with countries like India and China experiencing rapid urbanization and economic growth, leading to increased demand for food, personal care products, and industrial applications where PKO is commonly used. Secondly, the Asia Pacific region is home to several emerging economies with thriving food processing, cosmetics, and pharmaceutical industries, all of which are major consumers of PKO. Thirdly, traditional culinary practices in many Asian countries heavily rely on palm kernel oil for cooking purposes, further driving its consumption in the region. Additionally, the availability of palm plantations in countries like Indonesia and Malaysia, which are major producers of PKO, ensures a steady supply of the oil to meet the growing demand in the Asia Pacific region. Overall, the combination of growing population, expanding industries, cultural preferences, and abundant supply positions the Asia Pacific region as the largest consumer of Palm Kernel Oil.

 

Based on the end-user industry, the global Palm Kernel Oil market is divided into Oleochemicals, Food Industry, and Others (Biodiesel & Lubricants). Among these, Oleochemicals is the major segment and held about 70% of the global Palm Kernel Oil market in 2023 and is anticipated to prevail the similar trend in the upcoming years. 

 

Major players in the Global Palm Kernel Oil market are Sime Darby Oils Bintulu Sdn Bhd, Sawit Kinabalu Group, Teck Guan Perdana Bhd, TSH Resources Berhad, Sarawak Oil Palms Berhad Group (SOPB Group), Kuala Lumpur Kepong Berhad, Hup Lee Oilmill Sdn Bhd, FGV HOLDINGS BERHAD, Kirana Palm Oil Refinery Sdn. Bhd, PT Perkebunan Nusantara, PT Astra-Agro Lestari TBK, PT Mahkota Group Tbk, PT Sinar Jaya Agro Investama, PT. Yorgo Anugerah Nusantara, First Resources Limited, PT Dharma Satya Nusantara TBK,  and Others. 

 

Years considered for this report:

 

Historical Period: 2015- 2022

Base Year: 2023

Estimated Year: 2024

Forecast Period: 2025-2034

 

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Objective of the Study: 

 

• To assess the demand-supply scenario of Palm Kernel Oil which covers production, demand and supply of Palm Kernel Oil market in the globe.

• To analyse and forecast the market size of Palm Kernel Oil   

• To classify and forecast Global Palm Kernel Oil market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Palm Kernel Oil market in the globe.

 

To extract data for Global Palm Kernel Oil market, primary research surveys were conducted with Palm Kernel Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Palm Kernel Oil market over the coming years. 

 

ChemAnalyst calculated Palm Kernel Oil demand across the globe by analyzing the volume of Palm Kernel Oil consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

 

 

Key Target Audience:

 

• Palm Kernel Oil manufacturers and other stakeholders

• Organizations, forums and alliances related to Palm Kernel Oil distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

 

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Palm Kernel Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

 

Report Scope:

 

In this report, Global Palm Kernel Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

 

Attribute	Details
Market size Volume in 2023	7 million tonnes
Market size Volume in 2034	9.3 million tonnes
Growth Rate	CAGR of 2.56% from 2024 to 2034
Base year	2023
Estimated year	2024
Historical Data	2015 – 2022
Forecast period	2025 – 2034
Quantitative units	Demand in million tonnes and CAGR from 2024 to 2034
Report coverage	Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered	By End-Use: (Oleochemicals, Food Industry, and Others (Biodiesel & Lubricants)) By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Available Customizations:

 

With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

 

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