Fatty acid esters are known as oleochemical substances which are natural substitutes to petroleum products. They are formed by a process known as esterfication. The key feedstock required in the production of fatty acid esters includes vegetable oils such as palm oil, sunflower oil and rapeseed oil among others. The usage of vegetable oils and products manufactured from natural raw material has been increasing which thereby has led to increasing demand for fatty acid esters for several applications in the market. Monoglycerides, diglycerides and triglycerides are formed when glycerol is the alcohol component in fatty acid esters. Fatty acid esters are used in a wide range of applications in personal care and cosmetics, food and surfactants among others. Medium chain triglycerides, glyceryl monostearates, isopropyl palmitate and others are the major products of fatty acid esters which are also anticipated to create demand for fatty acid esters in the market.