The global caprylic acid market size is estimated to reach USD 3.11 million by 2025 driven by its antifungal and antimicrobial properties This market is projected to grow at a significant CAGR of 7.4 % during the forecast period of 2018-2025 as the applications and scope are rising tremendously across the world. As caprylic acid finds application in the manufacturing of masking agents, perfumers and artificial flavorings, the market is growing enormously. Other factors propelling global caprylic acid market growth includes stringent government regulations related to quality and hygiene of food products, growing health consciousness and increasing demand in personal care, cosmetics and pharmaceuticals industries. However, excessive use of caprylic acid leads to constipation, heartburn, indigestion, nausea, and diarrhea that may shrink the global caprylic acid market size.
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Based on the region-wise dynamics, the global caprylic acid market consists four key regions which includes Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW) markets. In 2014, North America market accounted approx. one-third of total global caprylic acid market share. The key factor which is driving the market is increasing demand for food & beverages and organic personal care products. As caprylic acid possess anti-fungal and anti-microbial property, it is widely used on food & beverage processing equipment.
In 2014, Asia-Pacific had peak demand of caprylic acid which has gradually increased. Personal care segment in this region is anticipated experience substantial growth owing to a shift in consumer preferences towards naturally derived organic products and growing disposable income. Besides that, China pharmaceutical market is projected to witness a substantial on account of demographic & economic conditions, growing health concerns and improved R&D activity.
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On the basis of application type and analysis, the global caprylic acid industry has several categories which includes Food and beverages, Personal care and cosmetics and Pharmaceuticals. The segment which owns highest share in terms of revenue generation of caprylic acid supplement market is personal care and cosmetics. As it provides smooth texture to skin and hair and act as a softening agent. Moreover, owing the solvent and dispersing nature, stability, long-lasting shell life and absence of odor and color, the cosmetics and personal care industry has gained traction.
The key players of global caprylic acid industry are McKinley Resources Inc., Eastman Chemical Company, Dow Chemical Company, Huntsman Corporation, Barite World, LANXESS, Spectrum Chemical Manufacturing Corp., Hydrite Chemical Co., Acme Chem, KLK OLEO, and Solazyme.
These market players emphasize more on inorganic growth to retain in the fierce competition. As these organization believe in alliance with a market will ensure their existence in a market for a longer-time and grant an authority to declare leadership position. In a similar attempt, company like Solazyne Inc. innovated a new technology for production which intake raw oil as raw material. This oil meets the demands of growing consumer in a cost-effective manner. Apart from key players, the global caprylic acid market share is fragmented with other companies like Evergreen Oleochemicals, KLK Oleo, Wilmar International Vantage Oleochemical, Oleon and Pacific Oleochemicals Sdn. Bhd.
Key segments of the global caprylic acid market
Application Overview, 2015-2025 (USD Thousand)
- Personal care
- Food & beverage
Regional Overview, 2015-2025 (USD Thousand)
- North America
- Asia Pacific
- Central and South America
- Middle East and Africa
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What does the report include?
• The global caprylic acid market study provides an in-depth analysis of the various type of application of caprylic acid.
• The study also involves in-depth insights about various regulations adopted by FDA in the application of caprylic acid
• Drivers, restraints and opportunities for the market have been covered in the study
• The study covers the different aspects of the value chain including the trends of global caprylic acid
• The global caprylic acid market report covers qualitative and quantitative analysis of the market segmented on the basis of application
• Historical, current and forecast market data is provided for all the segments on a country basis
• The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative
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