Global Caprylic Acid Market by Source (Coconut Oil, Palm Oil, Mammal Milk), by end-user (Personal Care and Cosmetics, Pharmaceuticals, Food & Beverage, Fertilizer, Chemicals and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
Caprylic acid, also called as octanoic acid, is a soaked fatty acid gained naturally from mammal milk, coconut oil, or palm oil. It is an oily fluid with an unpleasant odor. The product is generally used in the production of esters, which are used in perfumery, and in the manufacturing of dyes.
Caprylic acid as a fatty acid helps to increase the immunity against bacterial infections, chron’s disease and rising cholesterol level. Additionally, caprylic acid is also used for killing various pathogens and growing its application in various commercial places as an antimicrobial pesticide for food contact surface sanitizer. Caprylic acid is also used as health sanitizer for medical institutions and in pharmaceutical industry.
Personal Care sector are rapidly increasing during the forecast period.
Personal care segment has acquired more than one third percentage of the share globally in 2017. Extensive use of caprylic acid in skin care and cosmetic products along with hair conditioning properties is predictable to experience the major growth over the forecast period. Caprylic acid is widely used in hair care, skin care, and cosmetic products owing to its skin as well as hair conditioning properties. Furthermore, food and beverage segment is expected to spur the growth owing to rising consumption over the projected period.
The Caprylic Acid Market in Asia-Pacific region is expected to hold the largest share during the forecast period.
The Asia Pacific accounted for over 25% of the global volume share in 2017. Growing industrialization in Asia Pacific region together with rising pharmaceutical research by companies are expected to open new avenues for caprylic acid demand, which in turn is expected to push production over the forecast time frame. Additionally, China pharmaceutical market is projected to witness significant growth on account of the economic & statistic conditions, improved R&D activity and growing health concerns. North America is expected to witness significant growth over the forecast timeframe on account of the growing food & beverage and personal care segment.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufactures such as McKinley Resources Inc., Cremer Oleo GmbH & Co. KG, KLK Oleo, Pacific Oleochemicals Sdn Bhd, Merck KGaA, Vigon International, Wilmar BioEthanol, Ecogreen Oleochemicals, Spectrum Chemical Manufacturing Corp., Hydrite Chemical Co., Interfat and Procter & Gamble. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global caprylic acid market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global caprylic acid market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global caprylic acid market positioning of competitors.
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