Sarasota, FL, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Palm Kernel Oil Market by Applications (Edible Oil, Cosmetics, Biodiesel, Lubricants, Surfactants and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”. According to the report, the global palm kernel oil market was valued at around USD 10.00 billion in 2016 and is expected to reach approximately USD 14.00 billion by 2022, growing at a CAGR of 4.5% between 2017 and 2022.

Palm kernel oil is edible oil obtain from the kernel of the palm fruit. Palm kernel oil is a light yellow crude oil and it contains mainly lauric acid. Palm kernel oil is primarily composed of fatty triglycerides, with around 80% saturated fats and 20% unsaturated fats.  Palm kernel oil does not contain trans-fatty acids or cholesterol. Palm kernel oil is used in commercial cooking because it is lower in cost than other oils.

Browse through 37 Market Tables and 27 Figures spread through 110 Pages and in-depth TOC on "Global Palm Kernel Oil Market: By Type, Application, Size, Share, Trends and Forecast 2016 – 2022”.

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The palm kernel oil is expected to witness significant growth in the years to come. The market is mainly driven by growing demand for biofuels. Biofuels offer multiple advantages over conventional non renewable energy sources. Rising awareness about the benefits of naturally derived cosmetics and personal care is also expected to have a positive impact on this market. However, instability in the price of palm kernel oil and availability of limited cultivable land can possibly act as a restraint for palm kernel oil market.

On the basis of application, the market is classified into edible oil, cosmetics, biodiesel, lubricants, surfactants and others. In terms of revenue edible oil segment held around 36% share of the overall market in 2016. Palm kernel oil is an important raw material for surfactants, an active washing substance in laundry detergents and household cleaners. The surfactants segment is another important segment and is projected to grow at a CAGR around 5% during the forecast period.

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Europe was the second-largest consumer of palm kernel oil in 2014 followed by North America. Europe is expected to witness noticeable growth in the years to come. The Germany and Rest of Europe (including Russia) represent the largest palm kernel oil market in this region. The growth in the market is led by increasing demand from biodiesel.

Asia Pacific emerged as the largest regional palm kernel oil market and it accounted for 45.54% share of total revenue generated in 2014. The dominance of Asia Pacific is expected to be maintained in the years to come on account of rapid growth in food applications and other industrial uses. Rising purchasing power parity of consumers in emerging economies of Asia Pacific is expected to boost demand for palm kernel oil in the next few years. China is projected to be a major consumer of palm kernel oil in 2022 followed by Rest of Asia Pacific and ASEAN in terms of revenue.

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Middle East & Africa are expected to witness significant growth in areas such as food applications and other industrial uses. Latin America is another key market for the palm oil industry and is anticipated to exhibit substantial growth in the years to come. In terms of volume, Brazil is the largest market in Latin America in 2016.

Some of the major companies have been investing in product innovation, technological advancement, and maintaining quality standards in order to retain their dominance in the market. Key players operating in the global palm kernel oil market are Cargill Inc., United Palm kernel oil Industry Public Company Limited, Wilmar International Limited, Sime Darby, Golden Agri Resources Limited, Godrej Agrovet Limited, PT Astra Agro Lestari Tbk, IOI Corp., Kulim BHD, Musim Mas Group, Alami Group and others.

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This report segments the palm kernel oil market as follows:

Global Palm Kernel Oil Market:  Application Analysis

  • Edible Oil
  • Cosmetics
  • Bio-diesel
  • Lubricants
  • Surfactants
  • Others

Global Palm Kernel Oil Market:  Region Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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