Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market Size, Share, Growth, Trends, and Forecast 2030

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Industry Prospective:

The global palm kernel oil and coconut oil-based natural fatty acids market size was evaluated at $6,594 million in 2022 and is slated to hit $7,846 million by the end of 2030 with a CAGR of nearly 3.7% between 2023 and 2030.

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Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Overview

An increase in the demand for detergents globally has prompted humungous demand for palm kernel oil and coconut oil-based natural fatty acids. Moreover, natural fatty acids derived from palm kernel oil & coconut oil are highly saturated and possess oleochemicals comprising lauric acid, myristic acid, caprylic acid, and capric acid. Furthermore, easy access to products in various countries across the globe has resulted in it is cost-effectiveness, thereby culminating in its massive demand globally. The product also helps in improving the health of individuals as well as patients and this has further enhanced its use and popularity across the globe.

Key Insights

• As per the analysis shared by our research analyst, the global palm kernel oil and coconut oil-based natural fatty acids market is projected to expand annually at the annual growth rate of around 3.7% over the forecast timespan (2023-2030)
• In terms of revenue, the global palm kernel oil and coconut oil-based natural fatty acids market size was evaluated at nearly $6,594 million in 2022 and is expected to reach $7,846 million by 2030.
• The global palm kernel oil and coconut oil-based natural fatty acids market is anticipated to grow rapidly over the forecast timeline owing to escalating the use of personal care & cosmetic products along with the thriving fashion sector.
• In terms of end-user, the personal care segment is slated to register the highest CAGR over the analysis period.
• Region-wise, the European palm kernel oil and coconut oil-based natural fatty acids industry is expected to register the fastest CAGR during the assessment timeline.

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Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Growth Factors

Massive product use in personal care & cosmetic items to boost the global market trends

Natural fatty acids extracted from palm kernel oil and coconut oil are renewable and bio-degradable, thereby steering the expansion of the global palm kernel oil and coconut-based natural fatty acids market. Large-scale use of stearic fatty acids, polyunsaturated acids, distilled fatty acids, and stearic acids will drive the global market trends. Escalating the use of personal care & cosmetic products along with the thriving fashion sector globally will create a strong platform & lay a robust foundation for the growth of the market across the globe. Surging preference for bio-based and eco-friendly products in the personal care sector will embellish the growth of the global market. The rising use of herbal items has favorably leveraged the global market surge. There is an increasing awareness among the people about the advantages offered by personal care items and cosmetics products produced from natural ingredients. This, in turn, will sketch a profitable roadmap for the global market. New product launches and their accreditations are likely to change the phase of the global market surge in the coming years. For instance, in March 2023, KTC Edibles Limited, a key UK-based firm manufacturing and distributing edible oils, acquired an accreditation for its product referred to as Hard Palm Kernel Oil. Reportedly, the product is officially certified as RSPO sustainable segregated.

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Restraints

Fluctuating raw material prices can create hurdles in the growth of the industry globally over 2023-2030

Oscillation in the raw material costs and dynamic pricing can adversely impact the expansion of the global palm kernel oil and coconut oil-based natural fatty acids industry in the upcoming years.  

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Opportunities

Beneficial product features to open new growth avenues for the global market over the forecasting years 

With the product having an elongated shelf life and non-toxic effects along with its use in a slew of end-use sectors such as rubber, plastics, personal care, and detergents, the global palm kernel oil and coconut oil based natural fatty acids market is likely to witness a remarkable growth in the near future.

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Challenges

Supply chain disruptions & fluctuating import & export goods charges can be a big challenge for the global industry

Disruptions in supply chain activities and an increase in the import & export duties of the product will prove to be a big challenge for the global palm kernel oil and coconut oil-based natural fatty acids industry.     

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Segmentation

The global palm kernel oil and coconut oil-based natural fatty acids market is sectored into end-user and region.                   

Based on the end-user, the palm kernel oil and coconut oil-based natural fatty acids market across the globe is divided into detergents, personal care, plastics, and rubber segments. Furthermore, the personal care segment, which acquired a huge share of the global market in 2022, is anticipated to register the highest growth in the years ahead. The segmental expansion over the projected timeline can be owing to a rise in the number of skincare and hair care product manufacturers shifting towards the use of natural-based products. Additionally, growing awareness about the beneficial features of products such as biocompatibility and excellent biosafety will drive the segmental surge.  

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Report Scope

Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Regional Insights

Asia-Pacific is predicted to maintain its dominant position in market

Asia-Pacific, which accounted for nearly 61% of the global palm kernel oil and coconut oil-based natural fatty acids market revenue in 2022, will be a leading region over the prognosis timeframe. In addition to this, the regional market surge over the coming eight years can be ascribed to the thriving oleochemical sector in the region. Furthermore, the presence of key manufacturers in countries such as India and China will embellish the regional market trends. Apart from this, the easy availability of arable land for cultivating the product along with the presence of small and big vendors in the region will proliferate the regional market size.

European palm kernel oil and coconut oil-based natural fatty acids industry is set to record the fastest CAGR in the years ahead subject to rising demand for personal care items in countries such as France, the UK, Switzerland, and Italy. Apart from this, growing product demand in the personal care sector in these countries will contribute majorly towards the industry earnings of the continent.  

 Palm Kernel Oil and Coconut Oil-Based Natural Fatty Acids Market: Competitive Space

The global palm kernel oil and coconut oil-based natural fatty acids market profiles key players such as:

• Emery Oleochemicals Group
• KLK Oleo
• Pacific Oleochemicals Sdn. Bhd.
• United Coconut Chemicals Inc.
• Wilmar International Ltd.
• Univar USA Inc.
• Musim Mas Group
• Vantage Specialty Chemicals Inc.
• Procter & Gamble Company
• Twin Rivers Technologies Inc.
• Oleon NV
• VVF LLC
• Kao Corporation

The global palm kernel oil and coconut oil-based natural fatty acids market is segmented as follows:

By End-User

• Detergents
• Plastics
• Personal Care
• Rubber

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa