How Has the Palm Kernel Fatty Acids Market Evolved Historically and What is its Current Size?
The palm kernel fatty acids market has seen considerable growth due to a variety of factors.
• The palm kernel fatty acids market has grown significantly in recent years. It will rise from $7.68 billion in 2024 to $8.24 billion in 2025, at a compound annual growth rate (CAGR) of 7.4%.
Growth drivers include economic fluctuations, regulatory changes, shifting consumer preferences, market competition, and developments in infrastructure and geopolitics.
What Is The Projected Growth Of The Palm Kernel Fatty Acids Template Market?
The palm kernel fatty acids market is expected to maintain its strong growth trajectory in upcoming years.
• The palm kernel fatty acids market is expected to grow to $10.85 billion by 2029, with a CAGR of 7.1%.
Growth is supported by emerging technologies, demographic shifts, sustainability efforts, urbanization, regulatory reforms, and economic indicators. Major trends include the growing demand for bio-based products, the rise of personal care and cosmetics, food industry applications, and sustainable production practices.
What Are The Key Drivers Fueling Growth In The Palm Kernel Fatty Acids Market?
The anticipated expansion of the personal care and cosmetics sector is predicted to stimulate the growth of the palm kernel fatty acid market. These sectors consist of a multitude of products designed to maintain and improve personal sanitation, grooming and physical attractiveness, such as skincare, haircare, makeup and perfumes. The increasing consumer knowledge and call for eco-conscious, healthy and sustainable goods has resulted in a higher use of personal care and cosmetics. Palm kernel fatty acid is incorporated in personal care and cosmetics because of its abilities to moisturize, act as an emulsifying agent, and enhance the texture and stability of a product. For e.g., as reported by the Bureau of Labor Statistics, a U.S. governmental body, there was a 12.3 percent growth in personal care products and services in 2022, which followed an impressive 19.3 percent surge in 2021. Consequently, the expansion of the personal care and cosmetics sectors will facilitate the development of the palm kernel fatty acid market.
What Are The Principal Market Segments In The Global Palm Kernel Fatty Acids Industry?
The palm kernel fatty acids market covered in this report is segmented –
1) By Grade: Food Grade, Industrial Grade
2) By Application: Food And Beverage Emulsifier, Cosmetics And Personal Care Ingredients, Metal Working Lubricants And Greases, Bio-Based Plastic, Textile Intermediates, Cleaning Products, Other Applications
3) By End Use Industry: Food And Beverage, Cosmetics And Personal Care, Metallurgy, Textile, Industrial, Other End-Use Industries
Subsegments:
1) By Food Grade: Refined Palm Kernel Fatty Acids, Fractionated Palm Kernel Fatty Acids, Hydrogenated Palm Kernel Fatty Acids, Palm Kernel Stearin, Palm Kernel Olein, Other Food-Grade Palm Kernel Fatty Acids
2) By Industrial Grade: Non-Refined Palm Kernel Fatty Acids, Palm Kernel Stearin, Palm Kernel Olein, Hydrogenated Palm Kernel Fatty Acids, Fractionated Palm Kernel Fatty Acids, Other Industrial-Grade Palm Kernel Fatty Acids
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How Are New Trends Impacting The Size Of The Palm Kernel Fatty Acids Market?
Major players in the palm kernel fatty acid market are concentrating their efforts on creating sustainable alternatives to palm kernel oil, a move designed to diminish environmental harm and support biodiversity preservation. They also aim to satisfy consumer preferences for environmentally friendly products. Eco-friendly palm kernel oil substitutes refer to types of palm kernel oil manufactured using processes that limit environmental damage, prevent deforestation, and encourage biodiversity. In October 2023, for example, a partnership was formed between Agile BioFoundry, a consortium of national laboratories located in the U.S., and C16 Biosciences, an American biotech firm. The objective was to identify ways to create eco-friendly palm kernel oil substitutes, both fatty acids and fatty alcohols, using oil-rich yeast. This collaboration successfully found new metabolic methods for producing lipids that contain mid-chain fatty acids as a palm kernel oil alternative. The alliance merged the expertise of C16 Biosciences in strain development and commercial expansion with ABF's sophisticated testing platform and multi-omics proficiency. This facilitated a smooth design-build-test-learn (DBTL) process and nurtured effective collaboration for microbial development.
Who Are the Key Players In The Palm Kernel Fatty Acids Market?
Major companies operating in the palm kernel fatty acids market are:
• Cargill Incorporated
• Archer Daniels Midland Company
• Bunge Limited
• Louis Dreyfus Company
• Kao Corporation
• Golden Agri Resources Ltd.
• Musim Mas Holdings Pte Ltd
• Mewah Group
• KLK OLEO
• Fuji Oil Holdings Inc.
• IOI Corporation Berhad
• Croda International Plc
• Astra Agro Lestari
• Marico Limited
• First Resources
• Permata Hijau Group
• Emery Oleochemicals
• Ecogreen Oleochemicals GmbH
• Oleon NV
• International Oils and Fats Limited
• Soon Oilmills Sdn Bhd
• Twin Rivers Technologies Inc.
• Vance Bioenergy Sdn Bhd
• Pacific Oleochemicals Sdn Bhd
• Timur Oleochemicals
• Future Prelude
What Are The Regional Insights Into The Palm Kernel Fatty Acids Market?
Asia-Pacific was the largest region in the palm kernel fatty acids market in 2024. The regions covered in the palm kernel fatty acids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
