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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Palm Kernel Oil Market Outlook

The global palm kernel oil market size attained a value of 15.8 billion in 2023. The market is expected to grow at a CAGR of 4.3% between 2024 and 2032, reaching almost 23.1 billion by 2032.

Global Palm Kernel Oil Market

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Extensive Application of Palm Kernel Oil in End Use Industries to Boost the Market Growth

The United States market for palm kernel oil is expected to witness healthy growth in the forecast period. This could be attributed to the increased consumption of processed food and beverage goods, which has bolstered the food industry in the country. North America is a major contributor to the market growth due to rising demand for the product as a cooking oil in food production. Meanwhile, Asia Pacific is projected to expand at a healthy pace during the forecast period. This could be ascribed to the expanding cosmetics and personal care industry in the region. In addition to this, the rising disposable incomes and enhancing living standards of the population in emerging economies like India are contributing to the market growth of the cosmetic industry in the region. This is further enhancing the overall palm kernel oil industry. Moreover, Europe is a world leader in automotive manufacturing and is home to many of the industry's key players. Increased biodiesel demand in Germany, Spain, and other European countries is expected to boost the market for palm kernel oil.

Palm Kernel Oil: Market Segmentation

Palm kernel oil (Elaeis guineensis jaq) is a plant oil obtained from the kernel of palm seed. Palm kernel oil is a saturated vegetable fat that is semi-solid at room temperature and is mostly used for commercial cooking because it is less expensive than other oil varieties. Palm kernel oil has a higher saturated content than palm oil and is mainly used in the processing of soap, cream, lotion, and milk.

Global Palm Kernel Oil Market by Segment

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The market is segregated in terms of application into:

  • Edible Oil
  • Cosmetics
  • Bio-diesel
  • Lubricants
  • Surfactants
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Palm Kernel Oil Market by Region

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Growing Health Awareness to Drive the Market Growth of Palm Kernel Oil

Palm kernel oil is more saturated in comparison to palm oil and is also used in the production of milk lotion, cream, soap, and other cosmetics. The use of palm kernel oil in cosmetics is becoming more common as people become more mindful of the dangers of chemicals used in cosmetics and their side effects. Furthermore, increasing customer demand for naturally formulated personal care and beauty products is pushing the demand for this oil in the cosmetics industry. The rise in general health consciousness globally is aiding the demand for edible oil such as palm kernel oil in the food industry. Palm kernel oil is also widely used in the lubricant and biodiesel industries. The formulation of biodiesel using sodium hydroxide pellets, methanol, and palm kernel oil in a trans-esterification reaction is one such application, which is boosting the market growth of palm kernel oil. The palm kernel oil industry is projected to rise in the forecast period, owing to increasing biodiesel use in vehicles due to its affordability and environmental friendliness as compared to other fuels.

Key Industry Players in the Global Palm Kernel Oil Market

The report gives a detailed analysis of the following key players in the global palm kernel oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Cargill Inc.
  • Wilmar International Limited
  • Sime Darby
  • Golden Agri Resources Limited
  • Godrej Agrovet Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • Region
Breakup by Application
  • Edible Oil
  • Cosmetics
  • Bio-diesel
  • Lubricants
  • Surfactants
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cargill Inc.
  • Wilmar International Limited
  • Sime Darby
  • Golden Agri Resources Limited
  • Godrej Agrovet Limited
  • Others
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Palm Kernel Oil Market Report Snapshots

Palm Kernel Oil Market Size

Palm Kernel Oil Market Growth

Palm Kernel Oil Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is expected to grow at a CAGR of 4.3% between 2024 and 2032.

The major drivers of the market include the increasing biodiesel use in vehicles, surging consumption of processed food and beverage goods, and the rising demand for the product as a cooking oil.

The increasing customer demand for naturally formulated personal care and beauty products and rising health consciousness are the key trends propelling the market growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major applications of palm kernel oil are edible oil, cosmetics, bio-diesel, lubricants, and surfactants, among others.

The major players in the market are Cargill Inc., Wilmar International Limited, Sime Darby, Golden Agri Resources Limited, and Godrej Agrovet Limited, among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124