Palm kernel oil, scientifically known as Elaeis guineensis jaq, is a plant oil derived from a palm seed. The unique crop of palm produces crude palm oil from the mesocarp and crude palm kernel oil from the kernel. A saturated vegetable fat, palm kernel oil is semi-solid at room temperature and mainly used for commercial cooking as it is cheaper than other oil types. It remains stable at high cooking temperatures and can be stored longer than other vegetable oils. Palm kernel oil is more saturated than palm oil and primarily used for edible applications and to manufacture soap, cream, lotion, and milk.
The palm kernel oil market can be segmented based on its applications into the following groups: food products, personal care, biodiesel, and others. In terms of geographies it is available in, the market can be distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By application, the food products segment held the major share in the market for palm kernel oil, which is used to manufacture ghee, butter, ice-cream, chocolate, and other dairy products. In terms of personal care applications, the oil is employed in the production of soap, cream, body lotions, and other products. It is also used for biodiesel and lubricant applications. The need for environment-friendly energy sources has led to intensified efforts with respect to research in that area. One such endeavor is the production of biofuels from palm kernel oil using methanol and sodium hydroxide pellets in a base-catalyzed trans-esterification reaction. When 187g palm kernel was trans-esterified with 37g of methanol and 0.7g of NaOH pellets at an operating temperature of 55°C, it resulted in a percentage conversion of 90.53% for palm kernel oil feedstock and 15.20g of glycerol. The density of diesel from palm kernel oil stood at 848.0kg/m3.
Growing concerns regarding the harmful side-effects of chemicals present in cosmetics and toiletries are expected to play a major role in promoting palm kernel oil in the market throughout the forecast span. Rising awareness about the benefits of naturally derived cosmetics and personal care products is also anticipated to strengthen the market. Increasing number of concept retail stores and showrooms, along with rising demand from departmental stores, beauty product stores, spas, and salons are likely to add to the demand for the product in the next few years.
Asia Pacific constituted a major share in the palm kernel oil market in 2015, led by the high growth in food and personal care products in this region. It dominates the palm kernel oil market owing to the concentration of raw material production here. Demand for palm kernel oil is also high in Europe and North America. The U.S., Germany, China, India, and Japan accounted for a key share in the market in 2015. Demand for palm kernel oil in Middle East & Africa and Latin America is likely to rise at a steady rate during the forecast period.
Key players operating in the global palm kernel oil market include Cargill Inc., United Palm Oil Industry Public Company Limited, Wilmar International Limited, Sime Darby, Golden Agri Resources Limited, Godrej Agrovet Limited, PT Astra Agro Lestari Tbk, IOI Corp., London Sumatra, Kulim Bhd, Musim Mas Group, and Alami Group.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.