In 2023, Indonesia led global palm kernel oil domestic consumption with significant growth of 4.89%. Malaysia and China saw declines of 3.71% and 3.37% respectively. Mexico surged by 10.47%, while Brazil grew by 5.57%. The United States demonstrated a growth of 3.32%, with Nigeria slightly behind at 4.87%. Meanwhile, Costa Rica's consumption soared by 34.49%, indicating a significant spike. Countries like Papua New Guinea and Guatemala also showed remarkable increases, indicating potential new players in this market.
Future trends to observe include the continuous growth in Indonesia, potentially coupled with increased consumption in Mexico and new emerging markets like Guatemala. Environmental policies and sustainability initiatives could also impact consumption patterns globally, especially influencing major producers like Malaysia and Indonesia.
Top countries in Palm Kernel Oil Domestic Consumption Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 42.27 | 2023 | +0.54% | +4.89% | View data |
| 2 | 2 Malaysia | 14.2 | 2023 | -7.64% | -3.71% | View data |
| 3 | 3 China | 8.47 | 2023 | +0.4% | -3.37% | View data |
| 4 | 4 Nigeria | 4.8 | 2023 | +10.39% | +4.87% | View data |
| 5 | 5 United States | 4.27 | 2023 | +9.57% | +3.32% | View data |
| 6 | 6 Brazil | 3.85 | 2023 | +0.89% | +5.57% | View data |
| 7 | 7 Thailand | 2.93 | 2023 | -3.7% | -2.49% | View data |
| 8 | 8 India | 1.93 | 2023 | +10.32% | -0.57% | View data |
| 9 | 9 Mexico | 1.47 | 2023 | +4% | +10.47% | View data |
| 10 | 10 Japan | 0.87 | 2023 | +5.48% | 0% | View data |
