World - Palm Kernels - Market Analysis, Forecast, Size, Trends and Insights
Global Palm Kernel Market - Indonesia Remains the Key Producing Country
IndexBox has just published a new report "World: Palm Kernels - Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.
Consumption of Palm Kernel Stood at 9.5 Million Tonnes in 2016
From 2007 to 2016, global palm kernel consumption displayed a mixed dynamic. As of the end of 2016, the global palm kernel market stood at 9,521 thousand tonnes or 1,067 million USD.
Palm kernel is the edible seed of the oil palm fruit from which palm oil and palm kernel oil is made. Palm kernel oil is used primarily as biofuels and ingredients for the cosmetic and food industries. Palm kernel expeller, obtained as a result of grinding the hard part of the core, after the extraction of oil and flesh, is used as a feed for livestock.
The performance of the market is forecasted to grow with an anticipated CAGR of +4.7% for the nine-year period from 2016 to 2025, which is expected to lead the market volume to 14.4 million tonnes by the end of 2025 (IndexBox estimates).
New Zealand, the Netherlands, Indonesia, Japan, and South Korea Were the Main Consuming Countries of Palm Kernel
New Zealand (1.5 million tonnes), the Netherlands (913 thousand tonnes), Indonesia (822 thousand tonnes), Japan (754 thousand tonnes) and South Korea (749 thousand tonnes) were the countries with the highest consumption, together accounting for almost 50% of global figures.
In terms of the key consumer countries in 2016, New Zealand (331.6 kg per year), the Netherlands (54.0 kg/year) and South Korea (14.9 kg per year) registered the highest per capita consumption figure among main consumer countries and it was higher than the global average of 1.3 kg per year.
Production of Palm Kernel Grew by 50% over the Last Nine Years
Production of palm kernel was 8.7 million tonnes in 2016, with a positive dynamics over the last few years, except for slight decline in 2015. Overall, from 2007 to 2016, production of palm kernel increased by 50%. In value terms, production stood at 866 million USD, with a 6% growth from the previous year. It fluctuated wildly with a noticable growth from 2010 to 2014 and further abrupt decline in 2015. The volume of crude palm kernel was 15,689 thousand tonnes.
Indonesia Remained the Key Producing Country for Palm Kernel
Indonesia was the key world palm kernel producing country with an output of about 4,600 thousand tonnes in 2016, which accounted for 53% of total global output. The other major producers were Malaysia (30%), distantly followed by Nigeria (5%) and Thailand (4%).
In Indonesia, production levels increased by +6.8% annually from 2007 to 2016, however, Thailand had the highest level of production growth (+10.2%); Malaysia and Nigeria grew with a CAGR of +1.6% and +1.0%, respectively.
Approx. 77% of Global Palm Kernel Was Sent to Export
Palm Kernel is a widely traded commodity, with the share of export in total global output stood about 77% in 2016. High trade intensity is determined mainly by the geographical differenciation between the main countries of palm kernel manufacturing and key consuming countries.
Indonesia and Malaysia Were the Main Exporters of Palm Kernel in the World
In 2016, global exports of palm kernel stood at 665 million USD, with a CAGR of +3.4%. In physical terms, global exports of palm kernel was 6.7 million tonnes in 2016. which was 586 thousand tonnes (-8%) less than the year before.
Indonesia (56%) and Malaysia (34%) were the main suppliers of palm kernel, making up 90% share of global exports. However, Indonesia became the fastest growing country of origin. From 2007 to 2016, an average annual growth rate of palm kernel exports from this country was +7.5%. Also the share of Indonesia increased significantly by +12 percentage points from 2007 to 2016, while the shares of Malaysia illustrated negative dynamics throughout the analyzed period.
New Zealand and the Netherlands Were the Main Importers of Palm Kernel
In value terms, total imports of palm kernel were 867 million USD, with an annual increase of +4.2% for the period from 2007 to 2016. The volume of palm kernel imports stood at 7.5 million tonnes in 2016; there was an annual increase of +6.9%.
In 2016, New Zealand (20%), and the Netherlands (19%) were the main importers of world palm kernel, together making up 39% of global imports. Among these countries New Zealand had the highest growth rates of imports, with an annual increase of +14.2%. Japan took the third position in the ranking with a share of 10% of total imports, Korea (10%), the U.K. (6%) and China (6%).
New Zealand significantly strengthened its position in terms of the global imports from 11% in 2007 to 20% in 2016, while the Netherlands indicated negative dynamics throughout the analyzed period.
Do you want to know more about the global palm kernel market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- palm kernel market share
- palm kernel prices
- palm kernel production
- palm kernel industry
- palm kernel sales
- palm kernel imports
- palm kernel exports
- palm kernel market forecast
- palm kernel price forecast
- key palm kernel producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global palm kernel market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
We can help you conduct market research and write a report using the most reliable data