Global Palm Kernel Oil and Coconut Oil Based Natural Fatty Acids Market: Snapshot
Palm kernel oil and coconut oil together constitute an important group of lauric acids. The majority of functional properties that these oils exhibit is attributed to the high content of saturated acids. The markedly low degree of unsaturation lends high oxidative properties to these oils. The demand for palm kernel oil and coconut oil based natural fatty acids has been steadily increasing in personal care segment and the surfactants market. In addition, driven by their constant availability of these oleochemicals, they are widely used to lend hydrophobic properties to surfactants. The lack of an inexpensive substitutes for oils that can contain lauric and myristics acids in substantial portions has further accentuated the demand.
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The vast adoption of palm kernel oil and coconut oil in the making of a variety of natural cosmetics is boosting the market. The growing preference of natural cosmetic products over synthetic ones is vastly fuelling the uptake of oleochemicals in various regions. A burgeoning detergents industry and the growing demand for bio-based and eco-friendly industrial cleaning products are factors likely to catalyze the market growth in the coming years. The rising disposal incomes of people in developing regions, combined with their growing inclination toward aesthetics and cosmetics, is a key trend bolstering the demand for palm kernel oil and coconut oil-based fatty acids. Tightening norms for keeping industrial facilities clean and hygienic are expected to boost the demand for these acids in making industrial cleaners and detergents. Furthermore, the market is expected to benefit from recent advances made in the personal care segment in several emerging economies.
Global Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market: Overview
Palm kernel oil and coconut oil-based natural fatty acids are predominantly used in manufacturing cleaning surfactants. Thus, the growing consumption of surfactants in residential, commercial, and industrial spaces has had a positive impact on the global palm kernel oil and coconut oil based natural fatty acids market. The steady availability of these oleochemicals along with their natural origin and versatility has made them the key source of the hydrophobic aspect of surfactants. The lack of commercially affordable substitutes for these rich sources of lauric fatty acids has given the global market a definitive boost. The presence of natural fatty acids in distilled palm kernel oil and coconut oil such as amidopropyl betaines and isethionates has augmented the demand for these materials in the production of personal cleaning surfactants.
Global Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market: Trends and Drivers
The shifting demand for bio-based eco-friendly products in the personal care segment has led to the increased consumption of palm kernel oil and coconut oil based natural fatty acids. The growing awareness amongst consumers about the side effects of synthetic cosmetics has also directed attention toward herbal products, thereby triggering an uptake of these oleochemicals in the production of natural cosmetics.
The report predicts that the rise of the detergents industry is likely to boost the global market in the near future. The coconut oil fatty acids are predominantly used in making industrial cleaners and detergents and the stricter norms to ensure hygienic industries are expected to up the consumption of detergents in the near future. The market is also expected to benefit from the improving disposable income, growing focus on aesthetics, and changing economics. These factors are especially favoring the sales of palm kernel oil based natural fatty acids, which are extensively used in personal care products.
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Global Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market: Market Potential
The global cosmetics market is undergoing a major change that is seen tilting toward demand for natural products. In light of the benefits of cosmetics produced using naturally obtained materials over synthetic ones, the sales of sustainable cosmetics products have substantially spiked. Companies such as Evonik has added a wide range of cosmetic ingredients to its portfolio which comply with the standard of the Roundtable on Sustainable Palm Oil (RSPO – MB). The new 50 certified palm-oil based raw materials will support customers in developing sustainable cosmetic products. The raw materials have been obtained in the most socially responsible manner that adheres to the conservation of habitats and land grabbing.
Global Palm Kernel Oil And Coconut Oil Based Natural Fatty Acids Market: Regional Outlook
Geographically, the global palm kernel oil and coconut based natural fatty acids market is segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. The research report states that Asia Pacific will be a key player in the global market. The region is expected to be the key consumer of coconut oil and palm kernel due to the high concentration of respective plantations. Furthermore, a strong presence of market players in the regions who are engaged in the production of detergents, soaps, and other personal care products are also projected to make a phenomenal contribution to the overall market.
Key Players Mentioned in the Report are:
Some of the leading players operating in the global palm kernel oil and coconut oil-based natural fatty acids market are Vantage Specialty Chemicals, Chemical Associates Inc., Philippine International, Wilmar International, OLEON, KLK Oleo, Emery Oleochemicals, Kao Corporation, P&G, Pacific Oleochemicals, Twin Rivers Technologies, Musim Mas Holdings, VVF LLC, and United Coconut Chemicals. These companies are expected to focus on making strategic mergers and acquisitions to improve their foothold in the global market in the coming years.
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