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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 raw form of the oil is yellowish-brown, and after refining, it changes to white-yellowish fat. It is commonly used in cocoa glazes, ice cream coating, ice confection, and cool-melting confectionery fillings. It is also utilized as a substantial component in the margarine production and is a basic raw material for the manufacture of oleochemical intermediate products which are used for cleaning agents and cosmetics.
The growing awareness regarding the harmful nature of chemicals used in cosmetics and their side-effects is promoting the usage of palm kernel oil in several products. Moreover, the consumer's bias towards natural personal care and cosmetics products is augmenting the application of the oil in cosmetics production. The rise in the number of retail stores and showrooms, along with surge in the spa, department stores, salons, and beauty product stores, is likely to propel the demand for the market product. An increase in the standard of living is also driving the market during the forecast period.
North America is forecasted to grow at a significant rate during the forecast period. The U.S. food industry is growing owing to the increased consumption of food and beverage products. As kernel oil is used in the preparation of food, growth in the food and beverage industry in the region is propelling the demand for the market.
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Further key findings from the report suggest
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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)
End-User Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
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Key questions addressed in the global Palm Kernel Oil market report:
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