Get the latest insights on price movement and trend analysis of Palmitic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Fatty Acid Price Change in July 2025? Fatty Acid Price Index in APAC witnessed fluctuations through Q2 2025, with a bullish start in April followed by bearish corrections in May and June. Overall, the quarter-on-quarter decrease by 8.4%.

Explore the factors influencing palmitic acid prices in 2023, including raw material costs, global demand, and regulatory impacts. Understand its industrial applications and how current market conditions affect its pricing trends.

Understand where the Palmitic Acid Market is headed—forecasted trends and size estimates now available.

Palmitic Acid Market Outlook

The global palmitic acid market size reached USD 3280 million in 2024, driven by its widespread application across food, personal care, and industrial sectors. According to our latest research, the market is expected to expand at a CAGR of 4.8% during the forecast period, with the market size projected to reach USD 4920 million by 2033. This robust growth is primarily fueled by the increasing demand for processed foods, the expanding cosmetics industry, and the versatile use of palmitic acid in pharmaceuticals and industrial manufacturing.

One of the key growth drivers for the palmitic acid market is the surging demand for processed food products globally. As urbanization accelerates and lifestyles become increasingly fast-paced, consumers are turning to convenient and ready-to-eat foods, many of which utilize palmitic acid as an emulsifier and stabilizer. The food and beverage industry relies heavily on palmitic acid for its ability to improve texture, extend shelf life, and enhance the mouthfeel of various products. Additionally, the growing awareness of food safety and quality standards is pushing manufacturers to adopt high-purity palmitic acid, further stimulating market growth. The rise in disposable income, especially in emerging economies, is also contributing to higher consumption of processed and packaged food items, thereby boosting the demand for palmitic acid.

Another significant factor propelling the palmitic acid market is the expansion of the personal care and cosmetics industry. Palmitic acid is a critical ingredient in creams, lotions, soaps, and detergents due to its emollient and surfactant properties. With consumers becoming more conscious about personal hygiene and grooming, there is a notable uptick in the demand for high-quality and innovative cosmetic products. The trend towards natural and sustainable ingredients in personal care formulations is also benefiting the palmitic acid market, as it is derived from renewable sources such as palm oil and vegetable oils. The increasing adoption of palmitic acid in green and organic product lines is expected to create new growth avenues over the forecast period.

Furthermore, the pharmaceutical and industrial sectors are emerging as lucrative segments for the palmitic acid market. In pharmaceuticals, palmitic acid serves as an excipient in drug formulations, contributing to the stability and bioavailability of active ingredients. Its use in the chemical industry as a precursor for surfactants, lubricants, and plasticizers is also gaining momentum. The versatility of palmitic acid, coupled with ongoing research and development activities aimed at discovering new applications, is anticipated to drive sustained market growth. Regulatory support for the use of bio-based chemicals and the shift towards sustainable manufacturing practices are additional factors fueling the adoption of palmitic acid in diverse industrial applications.

Regionally, the Asia Pacific region dominates the palmitic acid market, accounting for the largest share in 2024, thanks to the substantial production and consumption of palm oil in countries like Indonesia and Malaysia. North America and Europe follow, driven by strong demand from the food processing and personal care sectors. Latin America and the Middle East & Africa are witnessing steady growth, supported by rising industrialization and expanding consumer markets. The regional outlook remains positive, with Asia Pacific expected to maintain its lead, while other regions are anticipated to register healthy growth rates over the forecast period.

Source Analysis

The source segment of the palmitic acid market is broadly categorized into vegetable oil, animal fat, palm oil, and others. Vegetable oil remains a predominant source, primarily due to its abundance, cost-effectiveness, and sustainability. The extraction of palmitic acid from vegetable oils, particularly soybean and sunflower oil, is witnessing significant advancements in processing technology, resulting in higher yields and improved purity. The growing consumer preference for plant-based ingredients, especially in food and personal care products, is further bolstering the demand for vegetable oil-derived palmitic acid. Manufacturers are investing in sustainable sourcing and refining practices to meet stringent quality standards and cater to the evolving market needs.

Palm oil is another critical source of palmitic acid, accounting for a s

Palmitic Acid Market Size And Forecast

Palmitic Acid Market size was valued at USD 238.55 Million in 2023 and is projected to reach USD 292.92 Million by 2031, growing at a CAGR of 2.6% during the forecast period 2024-2031.

Global Palmitic Acid Market Drivers

The market drivers for the Palmitic Acid Market can be influenced by various factors. These may include:

Growing Demand in the Cosmetics and Personal Care Sector: The production of cosmetics and personal care items like soaps, creams, and lotions frequently uses palmitic acid, which is contributing to the industry's growth. Growing Demand in the Food Industry: The use of palmitic acid as a stabiliser, flavouring agent, and emulsifier in food products—particularly in baked goods, processed foods, and chocolates—contributes to the market's expansion. Growing Demand in the Pharmaceutical Sector: The pharmaceutical sector is seeing growth due to the use of palmitic acid in the manufacturing of medications, dietary supplements, and formulations. Growing Adoption in Industrial Applications: Because of its useful qualities, palmitic acid is used in lubricants, detergents, and coatings, among other industrial sectors. This is propelling the market's expansion. Global Expansion of End-Use Industries: As end-use industries including food processing, cosmetics, and pharmaceuticals increase, there will likely be a greater need for palmitic acid, which will drive market expansion.

Learn about the expected growth of palmitic acid, stearic acid, and their derivatives market in Africa over the next decade, with the market volume projected to reach 175K tons and value to hit $333M by 2035.

Palmitic Acid Market Outlook

The global palmitic acid market size was valued at approximately $1.3 billion in 2023 and is projected to grow to around $2.1 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period. Factors such as the increasing demand for personal care products and the expanding pharmaceutical industry are driving this growth. The versatile applications of palmitic acid across various industries make it a crucial component in numerous consumer and industrial products, thereby boosting its market demand worldwide.

One significant growth factor for the palmitic acid market is its wide application in the food and beverages industry. Palmitic acid, a saturated fatty acid, is extensively used as an emulsifier and additive in various food products, ensuring texture, stability, and consistency. As the global food industry continues to expand, driven by rising populations and changing dietary preferences, the demand for palmitic acid is expected to rise correspondingly. Additionally, the trend towards processed and convenience foods further fuels the need for effective food additives, thus boosting the market for palmitic acid.

The personal care and cosmetics sector is another major driver for the palmitic acid market. Palmitic acid is commonly used in the formulation of soaps, shampoos, lotions, and creams, owing to its emollient properties and ability to improve the texture and feel of cosmetic products. With the burgeoning consumer inclination towards personal grooming and self-care, particularly among younger demographics, the cosmetics industry is experiencing robust growth. This, in turn, significantly enhances the demand for palmitic acid. Moreover, the rise in disposable incomes and increasing awareness of skincare routines are additional factors contributing to market expansion.

The pharmaceutical industry also plays a pivotal role in the growth of the palmitic acid market. Palmitic acid is utilized in the production of various pharmaceutical formulations, including drug delivery systems and medicinal creams. Its usage in enhancing the bioavailability and effectiveness of active pharmaceutical ingredients makes it indispensable in the healthcare sector. As medical advancements continue and the demand for innovative drug formulations rises, the importance of palmitic acid in the pharmaceutical industry is anticipated to grow, further propelling the market.

Palmatine, a naturally occurring isoquinoline alkaloid, is gaining attention in the pharmaceutical sector due to its potential health benefits. Known for its anti-inflammatory and antioxidant properties, Palmatine is being explored for its role in enhancing the efficacy of certain drug formulations. Its ability to modulate biological pathways makes it a promising candidate for developing new therapeutic solutions. As research progresses, the integration of Palmatine in pharmaceutical applications could offer innovative approaches to disease management, aligning with the industry's focus on advancing medical treatments.

Regionally, the Asia Pacific stands out as a significant market for palmitic acid, driven by its large population base and rapid industrialization. Countries like China and India are witnessing a surge in demand across all major application sectors, from food and beverages to personal care and pharmaceuticals. The region's expanding middle class, growing disposable incomes, and escalating demand for consumer goods contribute to the robust market growth. Moreover, favorable government policies supporting industrial growth and investment are likely to enhance market prospects further in this region over the forecast period.

Source Analysis

Regarding the source segment, palmitic acid can be derived from plant-based, animal-based, and synthetic sources. Plant-based palmitic acid, predominantly sourced from palm oil, is the most widely used due to its abundant availability and cost-effectiveness. The increasing consumer preference for natural and organic products drives the demand for plant-based palmitic acid. This trend aligns with the growing awareness of sustainability and environmental impact, prompting manufacturers to focus on eco-friendly raw materials. The extensive use of plant-based palmitic acid in food, cosmetics, and pharmaceuticals further underscores its market dominance.

Animal-based palmitic acid, derived from animal fats, represents another significant segment. Although its use has seen som

Explore Market Research Intellect's Palmitic Acid Consumption Market Report, valued at USD 2.1 billion in 2024, with a projected market growth to USD 3.1 billion by 2033, and a CAGR of 5.0% from 2026 to 2033.

In 2024, after two years of growth, there was decline in the Bangladeshi market for palmitic acid, stearic acid, their salts and esters, when its value decreased by -4.9% to $4.3M. Overall, consumption, however, saw buoyant growth. Over the period under review, the market hit record highs at $4.5M in 2023, and then dropped modestly in the following year.

In 2024, the GCC market for palmitic acid, stearic acid, their salts and esters decreased by -13.9% to $67M, falling for the second year in a row after two years of growth. The total consumption indicated a tangible expansion from 2012 to 2024: its value increased at an average annual rate of +2.7% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

Natural Palmitic Acid Market Outlook

The global market size for natural palmitic acid is projected to witness substantial growth from its valuation of $XX billion in 2023 to a forecasted $XX billion by 2032, growing at a compound annual growth rate (CAGR) of XX%. This growth is primarily driven by increasing demand across various applications such as food and beverages, personal care, and pharmaceuticals. The rising consumer preference for natural and sustainable ingredients in products plays a significant role in boosting the market.

The natural palmitic acid market is poised for significant growth due to several key factors. One of the foremost drivers is the increasing consumer inclination towards natural and organic products. As awareness regarding the adverse effects of synthetic chemicals grows, consumers are increasingly opting for natural alternatives in personal care, cosmetics, and food products. This shift in consumer preference is propelling manufacturers to incorporate natural palmitic acid in their product formulations, thereby driving market growth.

Another pivotal growth factor is the expanding application of natural palmitic acid in the pharmaceutical industry. Palmitic acid is extensively used in drug formulation and delivery systems due to its biocompatibility and efficacy. With the pharmaceutical sector experiencing robust growth, particularly in developing regions, the demand for high-quality natural excipients like palmitic acid is on the rise. This trend is further augmented by the growing investment in biotech and pharma R&D activities.

Technological advancements in extraction and purification processes are also playing a crucial role in market expansion. Improved methods for obtaining high-purity palmitic acid from plant and animal sources are enhancing production efficiency and quality. Companies are investing in research to optimize extraction techniques, reduce impurities, and ensure sustainable sourcing. These technological strides not only increase supply reliability but also reduce production costs, making natural palmitic acid more accessible to various industries.

Regionally, the Asia Pacific market is expected to lead in terms of growth rate, driven by the burgeoning pharmaceutical and personal care industries in countries like China and India. North America and Europe also present significant growth opportunities due to the high demand for natural products. The Latin American and Middle Eastern markets are gradually catching up as consumers in these regions become more health-conscious and environmentally aware. Overall, the global market is set to experience a balanced yet robust growth trajectory across all major regions.

Source Analysis

When analyzing the natural palmitic acid market by source, it can be bifurcated into plant-based and animal-based sources. Plant-based palmitic acid is predominantly derived from palm oil, a major agricultural product in tropical regions. This segment is gaining traction due to the increasing consumer shift towards vegan and cruelty-free products. As the awareness regarding ethical sourcing and environmental sustainability grows, plant-based palmitic acid is being favored over its animal-based counterpart. Additionally, advancements in agricultural biotechnology are enhancing the yield and quality of plant-derived palmitic acid.

Animal-based palmitic acid, on the other hand, is obtained from sources such as tallow and other animal fats. This segment has a well-established application in various industrial processes; however, it faces challenges due to the rising ethical and health concerns associated with animal-derived ingredients. Despite this, animal-based palmitic acid continues to be utilized in certain pharmaceutical and industrial applications where its unique properties are indispensable. The market dynamics in this segment are influenced by the ongoing debates on animal welfare and the environmental impact of livestock farming.

The plant-based segment is also benefiting from government regulations and policies promoting sustainable agriculture and bio-based products. Incentives and subsidies provided by governments to encourage the cultivation of palm oil and other oilseeds are bolstering the supply chain. Furthermore, consumer advocacy groups and certifications such as RSPO (Roundtable on Sustainable Palm Oil) are ensuring that the plant-based palmitic acid is sourced responsibly, thereby boosting consumer confidence and market growth.

In contrast, the animal-based segment is witnessing a gradual d

Food Grade Palmitic Acid Market Outlook

The global food grade palmitic acid market size is projected to grow from USD 600 million in 2023 to USD 850 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.95% during the forecast period. The market is being driven by growing consumer demand for organic and sustainable food ingredients, alongside an increasing awareness of the health benefits associated with palmitic acid. As a critical dietary component found in both plant and animal fats, palmitic acid is essential in various metabolic and physiological processes, making it indispensable in numerous applications ranging from food and beverages to pharmaceuticals and cosmetics.

One of the most significant growth factors for the food grade palmitic acid market is the rising consumer preference for natural and clean-label products. With consumers becoming more health-conscious, there is a growing demand for food products that are free from artificial additives and preservatives. This shift in consumer preference has prompted food manufacturers to seek natural sources of dietary fats, such as palmitic acid, to enhance the nutritional profile of their products. Additionally, the increasing vegan and vegetarian population has further fueled the demand for plant-based palmitic acid, which aligns with consumer values of sustainability and animal welfare.

The pharmaceutical and nutraceutical sectors are also major drivers for the food grade palmitic acid market. Palmitic acid is often used as an excipient in drug formulations due to its excellent solubility and stability properties. Furthermore, its role in the synthesis of various fatty acid derivatives with therapeutic benefits makes it invaluable in the development of health supplements and functional foods. As the global health and wellness trend continues to grow, more consumers are turning to dietary supplements and fortified foods to address specific health concerns, thereby boosting the demand for food grade palmitic acid.

Technological advancements in extraction and purification processes have significantly enhanced the quality and yield of food grade palmitic acid. Modern extraction techniques ensure that the fatty acid is free from contaminants and meets stringent safety and quality standards. This has not only increased the supply of high-quality palmitic acid but has also lowered production costs, making it more accessible to a broader range of applications. Additionally, continuous research and development efforts aimed at discovering new applications and benefits of palmitic acid are expected to create lucrative opportunities for market growth in the coming years.

Palmitic Acid Isopropyl Ester is an ester derivative of palmitic acid, which is gaining attention for its versatile applications across various industries. This compound is particularly valued in the cosmetics and personal care sector, where it is used as an emollient and thickening agent in formulations. Its ability to enhance the texture and spreadability of creams and lotions makes it a preferred choice among formulators. Additionally, Palmitic Acid Isopropyl Ester is known for its excellent skin-conditioning properties, providing a smooth and silky feel upon application. As consumers increasingly seek out products with effective and gentle ingredients, the demand for this ester is expected to grow, further driving innovation in product development.

Regionally, the Asia Pacific region is anticipated to witness the most robust growth in the food grade palmitic acid market. The region's burgeoning middle-class population and increasing disposable incomes are driving the demand for high-quality nutritional products. Moreover, the well-established food and beverage industry in countries like China, India, and Japan, coupled with the growing pharmaceutical market, are significant contributors to the regional market's growth. The presence of key manufacturers and favorable government regulations further bolster the market's expansion in this region.

Source Analysis

The source segment of the food grade palmitic acid market is categorized into plant-based and animal-based. The plant-based segment is expected to dominate the market, driven by the increasing consumer preference for vegetarian and vegan diets. Plant-based palmitic acid is typically derived from palm oil and other vegetable oils, which are widely available and relatively cost-effective sources. The growing trend towards sustaina

The size of the Palmitic Acid Market was valued at USD 415.9 million in 2023 and is projected to reach USD 522.02 million by 2032, with an expected CAGR of 3.3 % during the forecast period. The other common saturated fatty acid is palmitic acid, which can be found in fats of animals and plants and, among these sources, the largest amounts come from palm oil. A key constituent of various dietary fats and oils, it imparts a rich flavor and texture to many foods. In addition to this, its emulsifying property makes palmitic acid an important compound in the production of soaps, cosmetics, and pharmaceuticals. However, in the human body, the compound is said to be related to the creation of triglycerides and phospholipids, which support cell membrane work. Although being an important form of energy supplier, high content of palmitic acid causes increased cholesterol rates, which later may lead to heart disease or other heart infections. Therefore, dietary recommendations of limiting its dietary intake, since it is prevalent in processed oils, such as palm oil are common. Despite the health concerns, palmitic acid is still a very important industrial and nutritional compound, and research continues to be conducted on its benefits and alternatives.

Brazil Palmitic Acid Market is expected to grow during 2025-2031

Industrial Palmitic Acid Market Outlook

The global industrial palmitic acid market size was valued at USD 1.85 billion in 2023 and is projected to reach USD 2.78 billion by 2032, growing at a CAGR of 4.6% during the forecast period. The market is driven by the increasing demand for palmitic acid across various industries such as food and beverages, personal care and cosmetics, pharmaceuticals, and industrial applications. The widespread use of palmitic acid as an emulsifier, surfactant, and texturing agent is augmenting market growth.

One of the primary growth factors for the industrial palmitic acid market is its extensive utilization in the food and beverages industry. Palmitic acid is commonly used as a flavoring agent and for textural modification in a variety of food products, ranging from baked goods to dairy products. The rising global population, coupled with increasing disposable incomes, has led to higher consumption of processed and convenience foods, thereby boosting the demand for palmitic acid.

Additionally, the personal care and cosmetics industry has significantly influenced the growth of the palmitic acid market. Palmitic acid is a key ingredient in many skincare and haircare products due to its emollient properties. It provides a smooth texture and helps in maintaining skin hydration. The increasing awareness about personal grooming and the rising demand for premium cosmetic products are further driving the market. Innovations in cosmetic formulations and the growing trend of natural and organic products are also contributing to the increased use of palmitic acid.

The pharmaceutical industry is another critical driver for the industrial palmitic acid market. Palmitic acid is used in the manufacturing of various pharmaceutical products, including tablets, capsules, and ointments, due to its stabilizing and emulsifying properties. The expanding pharmaceutical sector, driven by advancements in medical research and an increase in healthcare expenditure, is expected to propel the demand for palmitic acid.

Oleyl Palmitamide is emerging as a significant derivative in the realm of industrial applications, particularly within the personal care and cosmetics industry. Known for its excellent emollient and conditioning properties, Oleyl Palmitamide is increasingly being incorporated into skincare and haircare formulations. Its ability to enhance the texture and moisture retention of cosmetic products makes it a valuable ingredient for manufacturers aiming to meet the growing consumer demand for high-performance and natural-based products. As the industry shifts towards more sustainable and eco-friendly formulations, the role of Oleyl Palmitamide is expected to expand, offering new avenues for innovation and product development.

Regionally, Asia Pacific holds the largest share in the industrial palmitic acid market due to the presence of major palm oil-producing countries such as Indonesia and Malaysia. The region's robust food processing industry and the growing personal care sector are substantial contributors to market growth. North America and Europe also exhibit significant market potential owing to their developed pharmaceutical and cosmetics industries. The increasing demand for sustainable and biodegradable products in these regions is expected to further augment market growth.

Source Analysis

The source of palmitic acid is a crucial segment that impacts the market dynamics significantly. The primary sources are palm oil, animal fats, and other minor sources. Palm oil-derived palmitic acid is the most commonly used due to its abundant availability and cost-effectiveness. Palm oil production is concentrated mainly in Southeast Asia, with Indonesia and Malaysia being the largest producers. The sustainable and ethical sourcing of palm oil has become a pivotal concern, with companies increasingly adopting Roundtable on Sustainable Palm Oil (RSPO) certification to mitigate environmental impacts. The growing demand for sustainable palm oil is likely to shape the future of this segment.

Animal fats are another significant source of palmitic acid, although their market share is smaller compared to palm oil. Palmitic acid derived from animal fats is often used in various industrial applications, including lubricants and greases. The utilization of animal fats offers a way to valorize by-products from the meat processing industry, aligning with the principles of circular economy. However, the market

The global palmitic acid market is valued at 249.3 million in 2025 and is projected to reach 338.1 million by 2033, exhibiting a CAGR of 2.4% during the forecast period. The growing demand for palmitic acid in various applications, such as soaps, detergents, cosmetics, and lubricants, is driving the market growth. Palmitic acid is a saturated fatty acid that is commonly used as a thickening agent and emulsifier in soaps and detergents. It is also used as a lubricant in metalworking and as a component in cosmetics such as creams, lotions, and shampoos. The market for palmitic acid is segmented based on application, type, and region. The soap & detergent segment accounted for the largest share of the market in 2025, and it is projected to continue to dominate the market during the forecast period. The cosmetics segment is expected to grow at a significant CAGR during the forecast period, owing to the increasing demand for personal care products. The distilled type segment held a larger market share in 2025, and it is expected to maintain its dominance during the forecast period. The Asia Pacific region accounted for the largest share of the market in 2025, and it is projected to continue to dominate the market during the forecast period. The growing population and increasing disposable income in the region are driving the demand for palmitic acid.

Palmitic Acid (CAS 57-10-3) Market Outlook

The global Palmitic Acid (CAS 57-10-3) market size was valued at approximately USD 1.2 billion in 2023 and is projected to reach USD 1.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.1% over the forecast period. The steady growth in market size is largely driven by increasing applications across diverse industries such as food and beverages, personal care and cosmetics, pharmaceuticals, and industrial segments. The surge in demand for natural and sustainable ingredients in consumer products is a major growth factor for the Palmitic Acid market.

One of the primary growth factors for the Palmitic Acid market is the rising consumer preference for natural and organic products. The shift towards clean-label products has significantly contributed to the increased use of plant-based Palmitic Acid in food and beverage formulations. Consumers are increasingly becoming health-conscious, prompting manufacturers to replace synthetic additives with natural alternatives, thus driving the demand for Palmitic Acid. Additionally, the growing awareness regarding the adverse impacts of synthetic ingredients on health and the environment is further bolstering the market growth.

The personal care and cosmetics industry is another significant driver of the Palmitic Acid market. With the burgeoning beauty and skincare industry, there is an increased demand for emollients and surfactants that are derived from natural sources. Palmitic Acid, known for its moisturizing and texturizing properties, is extensively used in the formulation of creams, lotions, soaps, and shampoos. The rising trend of organic and cruelty-free cosmetics has led manufacturers to adopt Palmitic Acid as an essential ingredient, thereby propelling market growth.

Furthermore, the pharmaceutical industry is increasingly utilizing Palmitic Acid due to its properties as a stabilizer and excipient in drug formulations. The ongoing advancements in pharmaceutical technologies and the growing need for effective drug delivery systems have led to a higher adoption rate of Palmitic Acid. Its role in enhancing the bioavailability and stability of active pharmaceutical ingredients (APIs) makes it a valuable component in the pharmaceutical sector, thereby contributing to overall market expansion.

In the food industry, the introduction of Food Grade Sn 2 Palmitate has been gaining traction due to its unique benefits. This particular form of palmitate is highly regarded for its ability to mimic the structure of human milk fat, making it an ideal ingredient in infant formula. The demand for Food Grade Sn 2 Palmitate is driven by the increasing awareness among parents about the nutritional needs of infants and the desire to provide the best possible start in life. Its application is not limited to infant nutrition; it is also being explored in other food products where enhanced nutritional profiles are desired. The growing trend towards functional foods that offer health benefits beyond basic nutrition is further propelling the market for Food Grade Sn 2 Palmitate.

From a regional perspective, Asia Pacific dominates the Palmitic Acid market and is expected to hold a significant share throughout the forecast period. The robust growth in the food and beverage industry, coupled with the flourishing personal care and cosmetics sector in countries like China, India, and Japan, is driving the demand for Palmitic Acid in the region. Additionally, the easy availability of raw materials and lower production costs are favoring the market growth in Asia Pacific. North America and Europe are also witnessing substantial growth due to the increasing consumer inclination towards natural ingredients and the rising adoption of Palmitic Acid in various industrial applications.

Application Analysis

The application of Palmitic Acid in the food and beverages industry is considerable due to its role as a major fatty acid in palm oil and other edible oils. It is widely used as a texturizing agent, emulsifier, and stabilizer in various food products, including confectioneries, baked goods, and dairy products. The growing consumer demand for processed and convenience foods is fueling the usage of Palmitic Acid as a food additive. Moreover, the trend towards healthier food options has led to the incorporation of Palmitic Acid in low-fat and low-sugar formulations, thereby enhancing market growth.

In the personal care and cosmetics

The Food Grade Palmitic Acid market size was valued at USD 285 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6% over the forecast period. The growing demand for food-grade palmitic acid in the food and beverage industry, as well as the increasing consumption of dietary supplements and pharmaceuticals, is expected to drive the market growth. The increasing awareness about the health benefits of palmitic acid is also expected to contribute to the market growth. The market is segmented based on application and type. The food segment is expected to dominate the market during the forecast period, owing to the increasing demand for food-grade palmitic acid in the food and beverage industry. The plant source segment is expected to account for a major share of the market during the forecast period, owing to the high availability and low cost of plant-based palmitic acid. The major companies operating in the market include Wiley Companies, Tersus Life Sciences, and Aromtech. The market is expected to witness significant growth in the Asia-Pacific region, owing to the increasing demand for food-grade palmitic acid in the region.

In 2024, the Chinese market for palmitic acid, stearic acid, their salts and esters decreased by -15.3% to $790M, falling for the second year in a row after three years of growth. Overall, consumption saw a relatively flat trend pattern. Consumption of peaked at $1.1B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.