Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market to reach $8bn by 2024

Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market size will likely exceed USD 8 billion by 2024; according to a new research report by Global Market Insights, Inc. Global surfactant demand for detergents used in residential or industrial cleaning will boost the global palm kernel oil and coconut oil based natural fatty acids market in the near future. Increasing use of lauric acid based hydrophobes in surfactants will influence the global market positively.

Regulations regarding industrial and workplace cleanliness, coupled with the growing number of industries all around the globe will signify the surfactants demand throughout the considered forecast span. Surfactants industry was worth beyond USD 30 billion in 2015 with an estimated growth at a moderate rate from 2016 to 2024.
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Growing concerns regarding the harmful side effects of chemicals present in cosmetics and toiletries will also play a major role in promoting the palm kernel oil and coconut oil based natural fatty acids market throughout the forecast span. Rising awareness about the benefits of naturally derived cosmetic and personal care products will strengthen the market throughout the forecast span. Moreover, increasing number of concept retail stores and showrooms, along with rising demand from departmental stores, beauty product stores, spas, salons, etc. will drive the demand in coming years.

Global organic personal care products market size was above USD 10 billion in 2015. It will likely exceed USD 24 billion by 2024, with a high growth rate of over 10% CAGR. Extensive use of palm kernel and coconut oil based products for moisturizing, makeup, suntan, and hair care will support the rise in palm kernel oil and coconut oil based natural fatty acids market demand. A shifting trend towards organic or bio-based personal care products along with gradual advancements in ethical consumerism will propel the demand for end products derived from natural fatty acids.

The highly inconsistent raw material price trends may hinder global palm kernel oil and coconut oil based natural fatty acids market throughout the forecast span. Rate of change of palm kernel oil price ranged from -15.14% to 21.53% between 2013 and 2015, and that of coconut oil ranged from -10.38% to 28.93% in the same timeframe. Concentration of palm kernel and coconut production in Asia Pacific region will also significantly increase the raw material cost in other parts of the globe.

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Detergents and personal care products are the principal end-user segments for the industry, collectively accounting to more than half of the overall market share. Rising awareness and initiatives for promoting residential, commercial, and industrial cleanliness makes detergents sector a significant end-user with over a third of the overall palm kernel oil and coconut oil based natural fatty acids market size.
In 2015, personal care segment generated over USD 1 billion, and it will likely have a moderate growth rate owing to growing inclination towards natural and organic cosmetics, skin care, and hair care products.

Asia Pacific will dominate palm kernel oil and coconut oil based natural fatty acids market owing to concentration of raw material production in South East Asian countries such as Philippines, Indonesia, India, and Vietnam. The region also has several oleochemical manufacturing industries for development of the end products. Asia Pacific region recorded more than half of the overall global palm kernel oil and coconut oil based natural fatty acids market.

Browse key industry insights spread across 105 pages with 89 market data tables & 11 figures & charts from the report, “Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market Size by End-user (Detergents, Personal Care, Plastics, Rubber), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/palm-kernel-oil-and-coconut-oil-based-natural-fatty-acids-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.