Capric Acid Market -Global Industry Analysis and Forecast (2023-2029)

Capric Acid Market size is expected to reach 0.32 US$ Bn in year 2029, at a CAGR of 3.2% during the forecast period.
Capric Acid Market Drivers and Restraints:
The global capric acid market is expected to witness a noticeable growth owing to the technological advancement and increase in number of applicant all over the world. Furthermore, increase in artificial aroma, food color, and flavouring agent utilization and their manufacturer are main reason behind market growth. Personal care in another considerable industry helping this market to grow with increased awareness regarding product amongst vendors and population will boost the capric acid market in projected years. The projecting pharmaceutical companies propose to use the capric acid present in coconut oil to manufacture drugs for diabetic patients, which is boosting the market growth and expected maintain the same during forecasted years. Also, increasing consumption of processed and packaged food products has fostered the demand for new artificial flavouring and colouring agents. Another factor to drive the market is growth in the perfumes industries all over the world.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

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Conversely, noticeable change in the raw material price will pull the market growth during the forecast period. Though, the availability of prominent substitute in the market and side effected of redefined form will deter the market growth in near future.
Capric Acid Market Segment Analysis:
By End-User of peracetic acid, food and beverages sector was highest propelling segment, accounting for over 43% of the market share in 2022. Beverages industry is constantly recording significant growth owing to increasing demand from developing countries such as India and China. Major application of capric acid in food and beverages includes, stabilization, flavour enhancement, flavour fixation, adjustment of acid levels and bacterial sterilization. Thus, widely used in canned, sauces, ice creams, cake mixes, desserts, baked goods, puddings, packaged vegetables, frozen fruits and fish and cheese products. It also highly demanded by wine and fruit juice manufacturing industries as they are they are massively consumed beverages category will further drive the market growth during forecasted period.

On the other hand, new technology and advancement in the water purifier plant is attracting the vendors as it has ability to reduce disinfectant and dissolved salt in the treated water will highly demand for the per-acetic acid in coming years.
Capric Acid Market Industry News:
March 2021 - Omega-3 specialist Coro mega launched its first products specifically positioned for sports which contain 1800 mg of capric acid for sustained energy following work-out.
Regional Insights:
Regionally, Asia Pacific is expected to dominate the capric acid Market and is expected to grow at CAGR of X.35 % during the forecast period. Developing regions like India, China, and Japan are considered major contributors for the capric acid market growth in the Asia Pacific region. In 2021  market size was valued US$ xxBn in though in China, market size was valued xxBn and expected to increase by US$ xx Bn in coming years. China, Japan, and India have been marked as leading producers of food products, like oils and fats, meat and meat products, giving boost to the market for market growth in this region. Also considerable point from current situation of covid-19, has undesirably impacted the market growth in this region and will take time to recover from such an economic loss, expected restraint the market growth in this region for extent.

On the other hand, North America and Europe expected to show substantial market growth owing to their economic stability. As the trend of proper nutritional die ting and packed food is highly adopted by population is boosting the capric acid market growth in this regions.

The objective of the report is to present a comprehensive analysis of the Global Capric Acid Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Capric Acid Market dynamics, structure by analysing the market segments and project the Global Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Capric Acid Market make the report investor’s guide.
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Capric Acid Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 0.25 Bn.


Forecast Period 2023 to 2029 CAGR:
3.2%
Market Size in 2029:
US $ 0.32 Bn.


 Segments Covered:
by Source
Animal
Plant


by End-user
Food and Beverages
Industrial Chemicals
Pharmaceuticals
Personal Care
Others


by Types
Palm Kernel Oil Source Capric Acid
Coconut Oil Source Capric Acid
Other Source Capric Acid



Capric Acid Market, By Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players
1. Sisco Research Laboratories Pvt. Ltd
2. P and G Chemicals
3. IOI Oleochemicals
4. Acme-Hardesty Company
5. Chemical Associates
6. Oleocomm Global SDN BHD
7. leocomm International Ltd
8. Henan Eastar Chemical Co. Ltd
9. Ecogreen Oleochemicals Pte Ltd
10. Chemseed, among others
11. Mosselman s.a
12. KLK OLEO
13. Saanvi Corp
14. Hangzhou Oleochemicals Co. Ltd.
15. Majorhub Oleochemicals Pvt. Ltd.
16. Temix Oleo
17. Univar Solutions
18. Bakrie Sumatera Plantations
19. Kao Chemicals
20. Musim Mas

Frequently Asked Questions:

1. Which region has the largest share in Global Capric Acid Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Capric Acid Market?
Ans: The Global Capric Acid Market is growing at a CAGR of 3.2% during forecasting period 2023-2029.

3. What is scope of the Global Capric Acid Market report?
Ans: Global Capric Acid Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Capric Acid Market?
Ans: The important key players in the Global Capric Acid Market are – Sisco Research Laboratories Pvt. Ltd, P and G Chemicals, IOI Oleochemicals, Acme-Hardesty Company, Chemical Associates, Oleocomm Global SDN BHD, leocomm International Ltd, Henan Eastar Chemical Co. Ltd

5. What is the study period of this Market?
Ans: The Global Capric Acid Market is studied from 2022 to 2029.