Deep Dive into Palm Kernel Fatty Acids Market Size: Key Growth Drivers and Future Trends

 

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How are market drivers shaping the future growth trajectory of the palm kernel fatty acids industry?

The growth in personal care and cosmetics is expected to propel the development of the palm kernel fatty acid market going forward. Personal care and cosmetics encompass a variety of products aimed at maintaining and enhancing personal hygiene, grooming, and physical appearance, including skincare, haircare, makeup, and fragrances. There is a rising adoption of personal care and cosmetics due to increasing consumer awareness and demand for health-conscious, eco-friendly, and sustainable products. Palm kernel fatty acid is used in personal care and cosmetics for its moisturizing properties, as an emulsifying agent, and to improve product texture and stability. For instance, in October 2023, according to the Bureau of Labor Statistics, a US-based government agency, in 2022, personal care products and services grew by 12.3 percent, following a significant 19.3 percent increase in 2021.Therefore, the growth in personal care and cosmetics will drive the growth of the palm kernel fatty acid market.

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What is the estimated market size of the palm kernel fatty acids sector by 2029, based on current forecasts?

The palm kernel fatty acids market size has grown strongly in recent years. It will grow from $7.68 billion in 2024 to $8.24 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to economic downturns, regulatory changes, consumer preferences, market competition, cultural shifts, geopolitical tensions, industry consolidation, infrastructure developments, and financial crises.

The palm kernel fatty acids market size is expected to see strong growth in the next few years. It will grow to $10.85 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to emerging technologies, demographic shifts, geopolitical events, sustainability initiatives, global economic indicators, healthcare advancements, urbanization trends, and regulatory reforms. Major trends in the forecast period include growing demand for bio-based products, a rise in personal care and cosmetics, food industry applications, industrial applications, sustainable production practices, innovative applications, and research.

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Who are the top 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 major trends in the palm kernel fatty acids market?

Major companies operating in the palm kernel fatty acid market are focusing on developing sustainable palm kernel oil alternatives to reduce environmental impact and promote biodiversity conservation while meeting consumer demand for eco-friendly products. Sustainable palm kernel oil alternatives are substitutes for palm kernel oil produced through methods that minimize environmental impact, avoid deforestation, and promote biodiversity. For instance, in October 2023, Agile BioFoundry, a U.S.-based consortium of national laboratories, and C16 Biosciences, a U.S.-based biotechnology company, collaborated to develop pathways to sustainable palm kernel oil alternatives, both mid-chain fatty acids and fatty alcohols, in oleaginous yeast. The collaboration demonstrated novel metabolic routes to produce lipids containing mid-chain fatty acids as an alternative to palm kernel oil. The partnership combined C16 Biosciences' expertise in strain construction and commercial scale-up with ABF's advanced testing platform and multi-omics capabilities to streamline the design-build-test-learn (DBTL) cycles, fostering an efficient cooperative dynamic for microbial development.

Which geography holds the highest palm kernel fatty acids market share?

 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.

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How do different segments contribute to the overall expansion of the palm kernel fatty acids market?

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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What defines the structure and scope of the palm kernel fatty acids market?

Palm kernel fatty acids refer to the fatty acids derived from palm kernel oil, which is extracted from the kernels or seeds of oil palm fruits. These fatty acids are predominantly composed of saturated and unsaturated fatty acids and are widely used in various industries due to their unique chemical properties and versatility.

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