Caprylic/Capric Triglycerides are used in a wide range of applications such as dietary nutrition, cosmetic & personal care, food & beverage, and others. The rising growth of the cosmetic and personal care industry across the globe is substantially contributing to the growth of the Caprylic Triglyceride Market. The growing application in the food and beverage sector owing to its excellent fat burning abilities is expected to drive the market growth.
The Global Caprylic/Capric Triglycerides Market is segmented into application and region. On the basis of the application, the global market of Caprylic/Capric Triglycerides is further segmented into dietary supplements, cosmetic & personal care, pharmaceuticals, sports drinks, infant nutrition, food & beverage and others. On the basis of the region, the Global Caprylic/Capric Triglycerides Market is categorized into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Some of the prominent players operating in the Global Caprylic/Capric Triglycerides Market are Croda International plc (U.K.), Oleon NV (Belgium), Ecogreen Oleochemicals (Singapore), Peter Cremer North America (U.S.), IOI Oleo GmbH (Germany), KLK Oleo (Malaysia), Oxiteno (Brazil), and BERG + SCHMIDT GmbH & CO. (Germany).
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Among the various applications of the Caprylic Triglyceride, the food & beverage was the dominant segment in 2016 and is expected to show the same trend during the forecast period whereas the cosmetic and personal care segment is expected to witness the highest growth during the review period. Caprylic Triglycerides are extensively used in the personal care industry owing to its excellent absorbent qualities. Moreover, the Cosmetic Ingredient Review declared the use of Caprylic Triglycerides is safe in cosmetics and personal care, which is further boosting the growth of the segment.
The Global Caprylic Triglyceride Market is spanned across five key regions: Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific is expected to be the fastest growing market during the forecast period. The growing development of the personal care industry along with the growing demand for pharmaceuticals is anticipated to fuel the demand for Caprylic Triglyceride in the region. Moreover, the rising cases of malnourishment mainly in India and China in the region is anticipated to boost the market demand further.
The European region is experiencing a significant growth owing to growing consumption of Caprylic Triglyceride in the cosmetic and personal care industry. Moreover, increasing application of Caprylic Triglyceride as fat burners by the health-conscious population is further driving the market, positively.
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