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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. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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Palm Kernel Oil Market

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