Market Overview:
Palm nut or kernel oil is pressed from the seeds of the palm tree. Coconut oil, palm oil, and other tropical oils are all abundant in nutrients, but kernel oil is also widely used. A nutritionist would also consider coconut oil to be a superfood because of its high nutritional value and the fact that it is a natural food product. The specific ratio of fatty acids found in oil gives it special properties. Palm kernel oil and coconut oil include a long-lasting, non-toxic fatty acid. Most commonly, they are utilized as surfactants in final-product sectors like the plastics, detergent, personal care, and rubber markets.
Natural fatty acids like those found in coconut oil and palm kernel oil have many advantages over their synthetic counterparts, including biodegradability, performance efficiency, environmental sustainability, and a very cheap extraction technique. Some of the oleochemicals found in these oils are lauric acid, caprylic acid, myristic acid, and capric acid, all of which are saturated or medium-chain fatty acids.
Market Size and Share: The global palm kernel oil and coconut oil-based natural fatty acids market was $6,594 million in 2022 and is expected to reach $7,846 million by 2030 with a CAGR of 3.7%. The market size and share of palm kernel oil and coconut oil-based natural fatty acids can vary by region and application. The market may be segmented into different categories based on the specific applications within the food, cosmetic, and other industries.
Key Factors Influencing the Market: Several factors influence the palm kernel oil and coconut oil-based natural fatty acids market:
- Demand for Natural Ingredients: The cosmetics, personal care, and food industries have all seen increased demand for organic and natural components. Fatty acids included in coconut and palm kernel oils are highly regarded due to their all-natural composition.
- Health and Wellness Trends: Consumers are becoming more health-conscious, and as a result, they are looking for goods that contain only natural, nutritious ingredients. Fatty acids from coconut and palm kernel oils are viewed as healthier alternatives to some synthetic chemicals.
- Cosmetic and Personal Care Industry: These natural fatty acids are used in a wide variety of soaps, shampoos, and skincare products produced by the cosmetic and personal care business, fueling the expansion of this sector.
- Food Industry: In the food business, these oils and fatty acids are employed in products including baked goods, confectionery, and dairy replacements.
- Sustainable Sourcing: Concerns regarding the environmental impact of palm oil production highlight the importance of acquiring palm kernel and coconut oil in a sustainable manner.
- Regulatory Changes: The market could be affected by proposed changes in legislation concerning the use of palm kernel and coconut oil-based components.
Market Growth and Trends: Trends in this market may include:
- Clean Label Products: Consumers are increasingly seeking products with clean labels, which has driven the demand for natural fatty acids derived from palm kernel and coconut oils.
- Sustainability Initiatives: Companies are focusing on sustainable sourcing and production methods to address environmental concerns related to palm oil production.
- R&D and Innovation: Continuous research and development efforts aim to improve the properties and applications of these natural fatty acids.
- Expansion into Emerging Markets: Companies may expand their presence in emerging markets as demand for natural ingredients grows globally.
- Clean Beauty and Natural Cosmetics: In the cosmetic industry, there is a growing trend towards clean and natural beauty products, which includes the use of natural fatty acids.
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
