Global Palmitic Acid Market Size To Exceed USD 619.7 Million By 2033: Market Size Report

Global Palmitic Acid Market Size To Exceed USD 619.7 Million By 2033 

According to a research report published by Spherical Insights & Consulting, The Global Palmitic Acid Market Size is Expected to Grow from USD 429.7 Million in 2023 to USD 619.7 Million by 2033, at a CAGR of 3.73% during the forecast period 2023-2033.     

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Palmitic Acid Market Size, Share, and COVID-19 Impact Analysis, By Type (Distilled Type and Fractionated Type), By Source (Animal-Based and Plant-Based), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

The palmitic acid market refers to the global industry involved in the production, distribution, and utilization of palmitic acid, a saturated fatty acid commonly derived from palm oil, animal fats, and other natural sources. It is widely used in personal care products, food additives, soaps, and industrial lubricants due to its emulsifying and surfactant properties. Moreover, the palmitic acid market is driven by rising demand for personal care products, processed foods, and cosmetics, where palmitic acid serves as an emulsifier and surfactant. Additionally, growing industrial applications and increasing use of pharmaceuticals and soaps contribute to market expansion, especially in emerging economies with evolving consumer preferences. However, the palmitic acid market faces restraints due to rising health concerns over saturated fat intake, regulatory challenges, and environmental issues related to palm oil production, affecting its acceptance in food and cosmetics.

The fractionated type segment accounted for the largest share of the global palmitic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on type, the global palmitic acid market is divided into distilled type and fractionated type. Among these, the fractionated type segment accounted for the largest share of the global palmitic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  This dominance is attributed to its higher purity and enhanced functionality, making it highly suitable for various industrial applications. Fractionated palmitic acid is extensively utilized in the production of soaps and detergents, cosmetics, and lubricants due to its superior stability and performance characteristics.

The foundry segment accounted for a substantial share of the global palmitic acid market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the source, the global palmitic acid market is divided into animal-based and plant-based. Among these, the foundry segment accounted for a substantial share of the global palmitic acid market in 2023 and is anticipated to grow rapidly during the projected period. This dominance is primarily due to the widespread availability and cost-effectiveness of palm oil, a major source of plant-derived palmitic acid. Additionally, increasing consumer preference for natural, vegan, and environmentally sustainable products has propelled the demand for plant-based palmitic acid across various industries, including food, cosmetics, and pharmaceuticals.

Asia Pacific is projected to hold the largest share of the global palmitic acid market over the projected period.   

Asia Pacific is projected to hold the largest share of the global palmitic acid market over the projected period. This is driven by high consumption in countries like China, India, and Indonesia. The region benefits from abundant palm oil production, cost-effective manufacturing, and strong demand from the food, cosmetics, and personal care industries, making it a dominant market contributor globally.

North America is expected to grow at the fastest CAGR of the global palmitic acid market during the projected period.  This is supported by a robust food processing sector, pharmaceutical developments, and rising demand for personal care products. The presence of key market players, increasing awareness of natural ingredients, and technological advancements further drive the region’s substantial market share.

Company Profiling

Major vendors in the global palmitic acid market are BASF SE, Vantage Specialty Chemicals, KLK OLEO, Kao Chemicals, ADM, Akzo Nobel N.V., Emery Oleochemicals, IOI Oleochemicals, Acme Synthetic Chemicals, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global Palmitic Acid market based on the below-mentioned segments:

Global Palmitic Acid Market, By Type

• Distilled Type
• Fractionated Type

Global Palmitic Acid Market, By Source

• Animal-based
• Plant-based

Global Palmitic Acid Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa