Global Palm Kernel Oil Market to Record an Impressive Growth $14.33 Bn by 2022
Palm Kernel Oil Market by Applications (Edible Oil, Cosmetics, Biodiesel, Lubricants, Surfactants and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022
Palm Kernel Oil Market by Applications (Edible Oil, Cosmetics, Biodiesel, Lubricants, Surfactants and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022
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Published By: Zion <strong>Market</strong> Research<br />
<strong>Palm</strong> <strong>Kernel</strong> <strong>Oil</strong> <strong>Market</strong> <strong>by</strong> Applications (Edible <strong>Oil</strong>, Cosmetics,<br />
Biodiesel, Lubric<strong>an</strong>ts, Surfact<strong>an</strong>ts <strong>an</strong>d Others): <strong>Global</strong> Industry<br />
Perspective, Comprehensive Analysis <strong>an</strong>d Forecast, 2016 – <strong>2022</strong><br />
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<strong>Palm</strong> <strong>Kernel</strong> <strong>Oil</strong> <strong>Market</strong><br />
<strong>Palm</strong> kernel oil is pl<strong>an</strong>t oil derived from a palm seed. The unique crop of palm produces crude palm oil from the<br />
mesocarp <strong>an</strong>d crude palm kernel oil from the kernel. <strong>Palm</strong> kernel oil is more saturated th<strong>an</strong> palm oil <strong>an</strong>d primarily<br />
used for edible applications, <strong>an</strong>d <strong>to</strong> m<strong>an</strong>ufacture soap, cream, lotion, <strong>an</strong>d milk. It is primarily composed of fatty<br />
triglycerides, with around 80% saturated fats <strong>an</strong>d 20% unsaturated fats. <strong>Palm</strong> kernel oil c<strong>an</strong> be found in a number of<br />
products, including vegetable oil, margarine, creamers, chocolate <strong>an</strong>d ice cream. Depending on the amount per<br />
serving, palm kernel oil may offer some health benefits.<br />
Growing dem<strong>an</strong>d for biofuels is expected <strong>to</strong> drive the market for palm kernel oil in coming future. Biofuels offer<br />
multiple adv<strong>an</strong>tages over conventional non-renewable energy sources. Moreover, in near future with increased<br />
production of biofuels, the prices are expected <strong>to</strong> fall. Rising awareness about the benefits of naturally derived<br />
cosmetics <strong>an</strong>d personal care products is also <strong>an</strong>ticipated <strong>to</strong> strengthen the market. Continuous fluctuation in palm<br />
kernel oil price may hinder market growth. Due <strong>to</strong> limited availability of cultivable l<strong>an</strong>d <strong>an</strong>d complete dependence on<br />
the environment the price of palm kernel oil is continuously fluctuating.<br />
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As production of palm kernel oil is completely dependent on the availability of palm kernel, shortage in supply of raw<br />
material c<strong>an</strong> impact production of palm kernel oil which in turn c<strong>an</strong> result in the rise of price. Increasing number of<br />
concept retail s<strong>to</strong>res <strong>an</strong>d showrooms, along with rising dem<strong>an</strong>d from departmental s<strong>to</strong>res, beauty product s<strong>to</strong>res, are<br />
likely <strong>to</strong> add the dem<strong>an</strong>d for the product in the next few years. Developing countries are expected <strong>to</strong> focus on the<br />
development of palm kernel oil industry in order <strong>to</strong> push their economy, which in turn is expected <strong>to</strong> act as a major<br />
opportunity for palm kernel oil market.
<strong>Palm</strong> <strong>Kernel</strong> <strong>Oil</strong> <strong>Market</strong><br />
Edible oil, cosmetics, biodiesel, lubric<strong>an</strong>ts, surfact<strong>an</strong>ts <strong>an</strong>d others are the key applications of palm kernel oil. Among<br />
all applications, edible oil is the leading application segment has acquired the signific<strong>an</strong>t share in overall palm oil<br />
market in 2016 <strong>an</strong>d is also expected <strong>to</strong> witness strong growth in upcoming years owing health concerns regarding<br />
tr<strong>an</strong>s-fat consumption. <strong>Palm</strong> kernel oil used in the formulation of skin care products, makeup, <strong>an</strong>d sunburn products.<br />
Surfact<strong>an</strong>t segment is expected <strong>to</strong> show signific<strong>an</strong>t growth in the near future.
<strong>Palm</strong> <strong>Kernel</strong> <strong>Oil</strong> <strong>Market</strong><br />
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Geographically, palm kernel oil market segmented in<strong>to</strong> North America, Europe, Asia-Pacific, Latin America, Middle<br />
East <strong>an</strong>d Africa. Asia Pacific constituted a major share in the palm kernel oil market in 2016, led <strong>by</strong> the high growth<br />
in food <strong>an</strong>d personal care products in terms of revenue. It dominates the palm kernel oil market owing <strong>to</strong> the<br />
concentration of raw material production. Europe <strong>an</strong>d North America also have a high dem<strong>an</strong>d for palm kernel oil.<br />
Countries like U.S., Germ<strong>an</strong>y, China, India, <strong>an</strong>d Jap<strong>an</strong> shows sustainable growth in coming future. The dem<strong>an</strong>d for<br />
palm kernel oil in Middle East & Africa <strong>an</strong>d Latin America is likely <strong>to</strong> rise at a steady rate during the forecast period.<br />
Key players operating in global palm kernel oil market are Cargill Inc., United <strong>Palm</strong> kernel oil Industry Public<br />
Comp<strong>an</strong>y Limited, Wilmar International Limited, Sime Dar<strong>by</strong>, Golden Agri Resources Limited, Godrej Agrovet<br />
Limited, PT Astra Agro Lestari Tbk, IOI Corp., Kulim BHD, Musim Mas Group, Alami Group <strong>an</strong>d others.<br />
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