Caprylic Acid Market Size 2020- Research Report, Forecast 2023
Caprylic Acid Market Insights
Caprylic Acid Market is a naturally produced acid found in palm oil, coconut and
in bovine and human milk. Caprylic Acid is a part of fatty acid and it is also
known as octanoic acid. This exists in the form of oily liquid which is
minimally soluble in the water. Caprylic acid also contains the properties of
antifungal, antibacterial, antiviral and anti-inflammatory.
According to a recent study report published by the Market
Research Future, The global market for Caprylic Acid is expected to grow
at a significant rate of CAGR; witnessing exponential growth crossing its
previous growth records by the end of the forecasted period (2020 – 2023).
Market Segmentation
The
Caprylic Acid Market Size is segmented in to 2 key dynamics for the
convenience of the report and enhanced understanding.
Segmentation On the basis of Application
Type: Comprises Food Additives, Medicine, Rubber and
Latex, Pharmaceuticals and Cosmetics, Manufacture Of Perfume,
Organic Synthesis, Greases and Lubricants, Plastics and Rubber & Dye
Segmentation On the basis of Regions: Comprises
Geographical regions - North America, Europe, APAC and Rest of the World.
Cosmetics/ Personal
care Segment accounted for the largest share of the overall volume share in
2014. Caprylic acid is used extensively in hair care, skin care, and cosmetic
products owing to its skin as well as hair conditioning properties.
Market Analysis
The major factor which is driving the market of Caprylic acid
is increase in the awareness for health and nutrition’s. Nowadays, people spend
a good part of their income on the health and try to consume as much health
food as they can. Many populaces are turning towards organic foods and
nutrition which is helping the market of Caprylic Acid to grow. Apart from this
the government and federal regulations for environment is also forcing the
companies to move towards natural resources and companies are moving towards
the natural resources in order to produce the Caprylic acids. Furthermore,
government is promoting the incentives programs to encourage the growth in the
renewable natural fatty acids. However, there are some factors which play the
restraint role in the market of Caprylic Acid. Excess consumption of Caprylic
acid can cause some health issues like diarrhea, nausea, indigestion and
heartburn, states the MRFR Research Analyst while commenting upon this deep
diving study report, presented through more than 100 market data tables and
figures, widely spread over 175 pages
Market Scenario
Caprylic acid has
profound usage as a natural antimicrobial ingredient for food contact surfaces
& equipment, which includes breweries, wineries, and meat processing
plants. It helps to maintain proper functioning of the digestive tract and pH
balance of the body. Furthermore, this product also activates ghrelin, which
stimulates hunger and increases appetite. Furthermore, caprylic acid helps acts
as an emollient and dispersing agent wherein it helps in the release of
pigments and vitamins thereby providing smooth texture to the hair as well as
skin. Owing to its wide range of applications; Caprylic acid market is anticipated
to grow rapidly both in terms of value and volume.
Competitive analysis
Caprylic acid market is characterized by integration across
various stages of the value chain by the various companies. Solazyme Inc. has
developed a new technology for caprylic acid production which uses algal oil as
a raw material. The algal oil has potential to produce lost cost caprylic acid
and meet the rising consumer demand.
Competitive Landscape
Key Players
·
McKinley Resources Inc.
·
Barite World
·
Spectrum Chemical
Manufacturing Corp.
·
Hydrite Chemical Co
·
Acme
·
Chemand and Solazyme
·
KLK OLEO
·
LANXESS
·
Huntsman Corporation
·
Dow Chemical Company
·
Eastman Chemical Company
Regional Analysis
Asia-Pacific
dominates the market of Caprylic acid in terms of revenue in the year 2014 due
to the high demand from the food industry and cosmetics. Some developing
countries like China, India and Japan who are the emerging market for the
cosmetic industry is consuming the Caprylic acid in very high amount resulting
high demands. Apart from this other geographical area like South Africa and
Middle East who are demanding more Caprylic Acid for nutrition’s and food
additives. North America is introduction various health various weight loss
programs helps to grow the market for Caprylic Acid.
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