Palm Kernel Oil Market Report 2024, Industry Trends, Size, Drivers, Growth and Forecast Till 2032

IMARC Group's report titled "𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 (𝐅𝐫𝐚𝐜𝐭𝐢𝐨𝐧𝐚𝐭𝐞𝐝 𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥, 𝐏𝐫𝐢𝐦𝐚𝐫𝐲 𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥), 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐄𝐝𝐢𝐛𝐥𝐞 𝐎𝐢𝐥 , 𝐂𝐨𝐬𝐦𝐞𝐭𝐢𝐜𝐬, 𝐁𝐢𝐨-𝐝𝐢𝐞𝐬𝐞𝐥, 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭𝐬 , 𝐒𝐮𝐫𝐟𝐚𝐜𝐭𝐚𝐧𝐭𝐬), 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐". The global palm kernel oil market size reached US$ 15.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.14% during 2024-2032.

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/palm-kernel-oil-market/requestsample

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

• 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐕𝐞𝐠𝐞𝐭𝐚𝐛𝐥𝐞 𝐎𝐢𝐥:

The growing demand for vegetable oil due to changing dietary habits of individuals is offering a positive market outlook. In addition, people are increasingly preferring healthier alternatives, which is propelling the market growth. Besides this, palm kernel oil is a versatile oil at a relatively low cost and suitable for individuals seeking healthier cooking oils and food products. Moreover, it has a neutral flavor and high saturated fat content, making it suitable for various culinary purposes, such as frying and baking. Additionally, palm kernel oil is a preferred choice for food manufacturers due to its stability at high temperatures and extended shelf life.

• 𝐓𝐡𝐫𝐢𝐯𝐢𝐧𝐠 𝐂𝐨𝐬𝐦𝐞𝐭𝐢𝐜 𝐚𝐧𝐝 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐂𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

The increasing utilization of palm kernel oil in the cosmetic and personal care sector is contributing to the market growth. In line with this, it is known for its moisturizing properties and has a non-greasy texture, which makes it suitable for numerous skincare and haircare products, such as lotions, creams, shampoos, and soaps. Furthermore, people are seeking natural and sustainable ingredients in their personal care products, which is impelling the growth of the market. Moreover, people are purchasing cosmetic products that are ethically sourced, reduce environmental impact, and are free from chemicals.

• 𝐑𝐢𝐬𝐢𝐧𝐠 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐝 𝐅𝐨𝐨𝐝 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬:

The rising employment of palm kernel oil in the food and beverage (F&B) industry is supporting the growth of the market. In addition, palm kernel oil is versatile and suitable for various culinary applications. Apart from this, it has a high melting point and resistance to oxidation, which makes it a preferred choice for frying. Furthermore, the increasing consumption of processed food products among the masses across the globe is bolstering the market growth. In line with this, palm kernel oil assists in enhancing the texture and extending the shelf life of food products.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

• Astra Agro Lestari
• Cargill Incorporated
• Golden Agri Resources Ltd
• IOI Corporation Berhad
• Musim Mas
• Sime Darby Plantation Berhad (Permodalan Nasional Berhad)
• United Palm oil Industry Public
• Wilmar International Ltd

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂: https://www.imarcgroup.com/palm-kernel-oil-market

𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:
• Fractionated Palm Kernel Oil
• Primary Palm Kernel Oil

Fractionated palm kernel oil represented the largest segment due to its ability to improve the texture, stability, and shelf life of food products.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:
• Edible Oil
• Cosmetics
• Bio-diesel
• Lubricants
• Surfactants

Edible oil accounted for the largest market share as it has a neutral flavor and high smoke point, making it suitable for frying, sauteing, and baking.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Asia Pacific enjoys the leading position in the palm kernel oil market on account of the rising demand for processed food products among individuals.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐚𝐥𝐦 𝐊𝐞𝐫𝐧𝐞𝐥 𝐎𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Palm kernel oil is increasingly utilized as a feedstock in the production of biofuels, particularly biodiesel. In addition, there is a rise in the need to reduce dependence on fossil fuels and mitigate environmental concerns. The renewable and cleaner-burning characteristics of palm kernel oil make it a viable option for biofuel production.

The increasing focus on sustainable and responsible palm oil production to reduce carbon footprint is strengthening the growth of the market. Consumers are increasingly seeking products made with sustainably sourced ingredients.

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐎𝐭𝐡𝐞𝐫 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐅𝐫𝐞𝐢𝐠𝐡𝐭 𝐓𝐫𝐮𝐜𝐤𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/freight-trucking-market

𝐅𝐮𝐧𝐠𝐢𝐜𝐢𝐝𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/fungicides-market

𝐆𝐫𝐞𝐞𝐧 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/green-concrete-market

𝐆𝐞𝐨𝐜𝐡𝐞𝐦𝐢𝐜𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/geochemical-services-market

𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐃𝐞𝐟𝐢𝐧𝐞𝐝 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/software-defined-storage-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

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