Market Size – USD 11.71 Billion in 2018, Market Growth - CAGR of 4.9%, Market Trends – High demand for natural and sustainable product.

The global palm kernel oil market is forecast to reach USD 18.01 Billion by 2027, according to a new report by Reports and Data. Palm kernel oil is extracted from the seeds of the oil palm fruits. Palm kernel oil contains a high amount of lauric acid and a saturated fatty acid. It is solid at room temperature for this reason.

The research report delivers a comprehensive assessment of the existing and projected market scenario to offer estimations of the anticipated growth rate of the industry vertical over the forecast period of 2016-2027. Moreover, the report also offers key solutions and methodologies to help the companies and readers overcome the impact of the COVID-19 pandemic on the market.

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Key participants United Palm Oil Industry Public Company Limited, Cargill Inc., Sime Darby, Wilmar International Limited, Golden Agri Resources Limited, PT Astra Agro Lestari Tbk, Godrej Agrovet Limited, London Sumatra, Musim Mas Group, and Alami Group, among others.

Further key findings from the report suggest

• Palm kernel oil is utilized in cooking commercially and is more affordable than other oils. It has a higher shelf life than other vegetable oils. The market product is applicable in dairy products, and with the food and beverage industry witnessing a significant growth globally, the market is expected to witness a surge in demand in the coming years.
• Palm kernel oil is used in soap as it has high myristic, lauric, and palmitic acids, which will produce a hard, cleansing bar with a full lather. The oil speeds up trace and causes soap formulas to saponify quickly.
• Online channels are witnessing a rise in demand due to the growth in e-commerce portals as the key selling medium among consumers. It also has the additional benefit of value-added services and cash-on-deliver (COD) and coupon benefits.
• The Asia Pacific is forecasted to grow at a healthy rate during the forecast period. The region is growing due to its personal care and cosmetics industry. The emerging economies like India have high purchasing power with improved living standards, which has contributed to the growth of the cosmetic industry in the region.

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For the purpose of this report, Reports and Data have segmented into the global Palm Kernel Oil market on the basis of application, end-user industry, distribution channel, and region:

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

• Cooking Oil
• Dairy Products
• Biodiesel
• Others

End-User Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

• Personal Care and Cosmetics
• Food and Beverage
• Oil and Energy
• Others

Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

• Online
• Offline

Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

• North America
  • U.S
• Europe
  • U.K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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Identifying the basic business drivers, challenges, and tactics adopted:

• The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Palm Kernel Oil market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
• An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
• Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
• The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.