• Will palm kernel oil market grow in 2024-2032?
  • Aided by increased consumption of processed food and beverage goods and rise in general health consciousness, the market is expected to witness further growth in the forecast period of 2024-2032. The global palm kernel oil market witnessed a CAGR of 3.5% in the historical period of 2016-20220 to attain a volume of 9.43 million metric tons in 2022.
  • How big is the global palm kernel oil market?
  • The global palm kernel oil market attained a volume of more than 9.43 million metric tons in 2023, driven by the increasing customer demand for naturally formulated personal care and beauty products.
  • Which countries are boosting the market for palm kernel oil?
  • 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 (Elaeis guineensis jaq) is a plant oil obtained from the kernel of palm seed.
  • Does the palm oil kernel expeller market have sustainability certification activity?
  • The palm oil kernel expeller market has much less sustainability certification activity (Figure 1.4). On the physical side, there is significant variation in annual global traded volumes. For CSPKE Credits, RSPO is observing an increasing trend in global CSPKE volumes.
  • Where does palm oil come from?
  • Palm oil is derived from the fruits of fresh fruit bunches (FFBs) grown on oil palms (Elaeis guineensis). In addition to palm oil, palm kernel oil (PKO) and palm kernel expeller (PKE) are produced from the same fruit.
  • Why is the palm kernel oil industry growing?
  • 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.