Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market Analysis

Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market Analysis

Detergents industry is one of the most significant end users for global coconut oil fatty acids market. This segment accounted for more than 30% of the overall revenue and will likely gain on the account of high demand of residential as well as industrial detergents and cleaners. Stringent norms regarding industrial cleanliness will enhance the detergents sector notably in the forecast spell.
 

Rising disposable income, coupled with increasing beauty consciousness of the economically privileged population will also escalate palm kernel oil based natural fatty acids market in personal care products industries. Growing popularity of natural cosmetic products for skin and hair care will act as stimulants for the global market growth in the coming years. The personal care segment recorded over USD 1 billion in 2015 and will experience gain at close to 5% CAGR throughout the forecast period.
 

Volatility of raw material prices may pose a hindrance to the global Coconut Oil Fatty Acids Market growth in the coming years. Coconut oil prices increased from less than USD 800 per ton in early 2013 to more than USD 1,000 per ton by the end of 2015 and crossed USD 1,500 per ton by mid-2016. Specific climatic conditions to promote the growth of coconut and palm trees may affect the overall market negatively.
 

Palm kernel and coconut production in Asia, along with the presence of numerous oleochemical manufacturers in the region makes Asia Pacific a significant player for global palm kernel oil based natural fatty acids market. More than three quarters of coconut and palm kernel production is concentrated in this region, of which a noteworthy share is used for oleochemical industry and application in making end products such as soaps, detergents, personal care products, etc. This region accounted for more than half of the overall palm kernel oil based natural fatty acids market share in 2015 and will flourish by more than 5% CAGR up to 2024.
 

Europe generated more than USD 1 billion for the overall palm kernel oil and coconut oil based natural fatty acids market in 2015. The regional market will grow at more than 4% CAGR in the forecast spell. Increasing personal care products demand in the region will characterize the Europe market for the next eight years.