The global demand for palm kernel oil in 2023 was significantly led by Indonesia and Malaysia, making up a substantial portion of the world's usage. In terms of year-on-year variation, the United States and Colombia showed notable increases, while India's demand sharply declined. Major European countries like Germany and the Netherlands displayed steady growth, whereas Brazil and the Philippines experienced downturns. The CAGR over the last five years highlighted consistent growth in some regions, indicating varying market dynamics globally.
Future trends to watch for include:
- Potential shifts in demand due to environmental and sustainability concerns.
- Increased usage in emerging markets driven by industrial growth.
- Potential trade policies impacting supply chain and pricing structures.
- Technological advancements in plantation and oil extraction enhancing productivity.
Top countries in Palm Kernel Oil Demand by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 2,550 | 2023 | +1.52% | +0.36% | View data |
| 2 | 2 Malaysia | 1,900 | 2023 | +0.26% | +0.15% | View data |
| 3 | 3 China | 800 | 2023 | +1.91% | +1.11% | View data |
| 4 | 4 United States | 386 | 2023 | +1.85% | +2.94% | View data |
| 5 | 5 Germany | 366 | 2023 | -0.54% | +0.61% | View data |
| 6 | 6 Brazil | 241 | 2023 | -1.23% | -1.12% | View data |
| 7 | 7 Netherlands | 186 | 2023 | +3.33% | +1.94% | View data |
| 8 | 8 Thailand | 143 | 2023 | 0% | -0.28% | View data |
| 9 | 9 Philippines | 101 | 2023 | -0.98% | -0.39% | View data |
| 10 | 10 Mexico | 99 | 2023 | +1.02% | +0.62% | View data |
