In 2023, Indonesia led the global palm kernel oil market with 59.29 thousand metric tons, followed by Malaysia with 7.64 and China with 5.42. Notably, Saudi Arabia, Benin, and Myanmar observed significant year-on-year increases of 2.07%, 2.38%, and 5.92%, respectively. Conversely, Nigeria and Tanzania saw substantial declines of 7.11% and 9.71%. Over the past five years, Indonesia showed moderate growth, while countries like Papua New Guinea and Kenya emerged as growth champions with notable CAGR increases.
Looking forward, the market may experience shifts due to evolving environmental policies, technological advancements in oil extraction, and changing consumer preferences towards sustainable and locally sourced products. Monitoring Indonesia's role amidst potential sustainability reforms will be vital, while emerging markets may continue to influence global supply dynamics.
Top countries in Palm Kernel Oil Market Size Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 59.29 | 2023 | +1.5% | +0.35% | View data |
| 2 | 2 Malaysia | 7.64 | 2023 | +0.68% | +0.83% | View data |
| 3 | 3 China | 5.42 | 2023 | +0.96% | +0.78% | View data |
| 4 | 4 Philippines | 5.21 | 2023 | -0.98% | -0.39% | View data |
| 5 | 5 Nigeria | 4.28 | 2023 | -6.74% | -7.11% | View data |
| 6 | 6 Saudi Arabia | 2.12 | 2023 | +2.5% | +2.07% | View data |
| 7 | 7 Colombia | 1.75 | 2023 | +3.03% | +1.22% | View data |
| 8 | 8 Ivory Coast | 1.29 | 2023 | 0% | +0.82% | View data |
| 9 | 9 Ghana | 0.93 | 2023 | +5.88% | +1.15% | View data |
| 10 | 10 United States | 0.88 | 2023 | 0% | +1.22% | View data |
