Global Palm Kernel Oil Market Size, Share, and COVID-19 Impact Analysis, By Sales Channel (Direct and Indirect), By End User (Personal care & Cosmetics, Food Industry, Biofuel and energy, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Palm Kernel Oil Market Insights Forecasts to 2035

• The Global Palm Kernel Oil Market Size Was Valued at USD 15.59 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.9 % from 2025 to 2035
• The Worldwide Palm Kernel Oil Market Size is Expected to Reach USD 23.75 Billion by 2035
• North America is expected to grow the fastest during the forecast period.  

According to a research report published by Spherical Insights and Consulting, The Global Palm Kernel Oil Market Size Was Worth Around USD 15.59 Billion In 2024 And Is Predicted To Grow To Around USD 23.75 Billion By 2035 With A Compound Annual Growth Rate (CAGR) Of 3.9% From 2025 To 2035.

Market Overview      

The Palm Kernel Oil (PKO) market refers to the global commercial ecosystem involved in the production, processing, distribution, and commercialization of palm kernel oil, which is a vegetable oil extracted from the kernel or seed of the oil palm fruit (Elaeis guineensis). The market includes all activities that begin with oil palm plantation cultivation and progress through mechanical and chemical extraction and refining, and end with the production of derivatives, which include lauric acid, fatty acids, and specialty oils. The National Mission on edible oils - Oil Palm (NMEO-OP) program of India aims to boost domestic oil palm production by converting 600000 hectares of land into oil palm plantations while achieving 112000 metric tons of crude palm oil production by the 2025-26 period. The market for palm kernel oil (PKO) is driven by a variety of factors, including supply-side developments and changing worldwide demand.  PKO's use in biofuel production has also been accelerated by the increased focus on renewable energy sources, which has contributed to market expansion.  

Report Coverage

This research report categorizes the palm kernel oil market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the palm kernel oil market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the palm kernel oil market.          

Driving Factors     

The use of PKO in food, candy, and baked goods has increased due to rising consumer knowledge of and desire for natural and plant-based oils. Due to PKO's emollient qualities and suitability for soap, shampoo, and skincare formulations, demand is further driven by the cosmetic and personal care industry's explosive growth. Supply chain optimization and market penetration are made easier by favorable export policies in key producing nations and global trade liberalization. Some of the main drivers propelling the market are the widespread use of the product in the production of personal care items, the growing demand for the product to manufacture biofuel, and the growing consumer spending capacities.  

• The food industry segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.        

Based on the end user, the palm kernel oil market is divided into personal care & cosmetics, food industry, biofuel and energy, and others. Among these, the food industry segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The food industry is a result of PKO's extensive use in processed foods, baking products, confections, cooking oils, and snacks, where its stability, high saturated fat content, and extended shelf life are highly prized. The market is growing as a result of rising customer demand for ready-to-eat products, edible oils, and convenience meals. 

Regional Segment Analysis of the Palm Kernel Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the palm kernel oil market over the predicted timeframe.            

Asia Pacific is anticipated to hold the largest share of the palm kernel oil market over the predicted timeframe. The Asia Pacific region's high population and the fast urbanization and economic expansion of nations like China and India, there is a greater need for food, personal hygiene products, and industrial applications where PKO is frequently utilized. Regional market leadership is largely attributed to large-scale farming, favorable climate, and developed processing infrastructures. Malaysia's Malaysian Sustainable Palm Oil (MSPO) certification and replanting programs enhance international market export competitiveness and sustainability compliance, while Indonesia implements B-series biodiesel mandates, which will reach B40 by 2026 to redirect palm products for domestic use and support the growth of its oleochemical sector.

North America is expected to grow at a rapid CAGR in the palm kernel oil market during the forecast period. The increasing popularity of natural and plant-based ingredients among consumers drives the growth of cosmetics and skincare products and processed food items. The U.S. Renewable Fuel Standard (RFS) updates together with biodiesel blending incentives and state sustainability procurement policies that support certified imports, serve as government initiatives, which enable indirect backing for vegetable oil feedstocks, including palm-derived components, that support advanced biofuel production.  

Competitive Analysis:     

The report offers the appropriate analysis of the key organizations/companies involved within the Palm Kernel Oil market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.    

List of Key Companies

• Astra Agro Lestari
• Bumitama Agri Ltd
• Cargill Incorporated
• First Resources Limited
• Golden Agri Resources Ltd
• Godrej Agrovet Limited
• IOI Corporation Berhad
• Kulim (Malaysia) Berhad
• London Sumatra
• Mewah International Inc.
• Musim Mas
• PT Astra Agro Lestari Tbk
• Sime Darby Plantation Berhad
• Others

Key Target Audience

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

Recent Development

• In January 2026, Raj Oil Mills Limited launched its refined palmolein oil, PALMRAJ, targeting the domestic edible oil market. The company announced the launch to BSE and NSE, complying with SEBI Regulation 30, focusing exclusively on domestic consumers.

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the palm kernel oil market based on the below-mentioned segments: 

Global Palm Kernel Oil Market, By Sales Channel

• Direct
• Indirect

Global Palm Kernel Oil Market, By End User  

• Personal care & Cosmetics
• Food Industry
• Biofuel and Energy
• Others

Global Palm Kernel Oil Market, By Regional Analysis

• 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