Palm Kernel Oil Market Report and Forecast 2025-2034

The global palm kernel oil market size attained a value of USD 15.80 Billion in 2024. The market is expected to grow at a CAGR of 4.30% between 2025 and 2034, reaching almost USD 24.07 Billion by 2034.

Extensive Application of Palm Kernel Oil in End Use Industries to Boost the Market Growth

The United States market for palm kernel oil is expected to witness healthy growth in the forecast period. This could be attributed to the increased consumption of processed food and beverage goods, which has bolstered the food industry in the country. North America is a major contributor to the market growth due to rising demand for the product as a cooking oil in food production. Meanwhile, Asia-Pacific is projected to expand at a healthy pace during the forecast period. This could be ascribed to the expanding cosmetics and personal care industry in the region. In addition to this, the rising disposable incomes and enhancing living standards of the population in emerging economies like India are contributing to the market growth of the cosmetic industry in the region. This is further enhancing the overall palm kernel oil industry. Moreover, Europe is a world leader in automotive manufacturing and is home to many of the industry's key players. Increased biodiesel demand in Germany, Spain, and other European countries is expected to boost the market for palm kernel oil.

Palm Kernel Oil: Market Segmentation

Palm kernel oil (Elaeis guineensis jaq) is a plant oil obtained from the kernel of palm seed. Palm kernel oil is a saturated vegetable fat that is semi-solid at room temperature and is mostly used for commercial cooking because it is less expensive than other oil varieties. Palm kernel oil has a higher saturated content than palm oil and is mainly used in the processing of soap, cream, lotion, and milk.

The market is segregated in terms of application into:

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

The regional markets for the product include:

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

Growing Health Awareness to Drive the Market Growth of Palm Kernel Oil

Palm kernel oil is more saturated in comparison to palm oil and is also used in the production of milk lotion, cream, soap, and other cosmetics. The use of palm kernel oil in cosmetics is becoming more common as people become more mindful of the dangers of chemicals used in cosmetics and their side effects. Furthermore, increasing customer demand for naturally formulated personal care and beauty products is pushing the demand for this oil in the cosmetics industry. The rise in general health consciousness globally is aiding the demand for edible oil such as palm kernel oil in the food industry. Palm kernel oil is also widely used in the lubricant and biodiesel industries. The formulation of biodiesel using sodium hydroxide pellets, methanol, and palm kernel oil in a trans-esterification reaction is one such application, which is boosting the market growth of palm kernel oil. The palm kernel oil industry is projected to rise in the forecast period, owing to increasing biodiesel use in vehicles due to its affordability and environmental friendliness as compared to other fuels.

Key Industry Players in the Global Palm Kernel Oil Market

The report gives a detailed analysis of the following key players in the global palm kernel oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cargill Inc.
• Wilmar International Limited
• Sime Darby
• Golden Agri Resources Limited
• Godrej Agrovet Limited
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.