Global Caprylic Acid Market, By Raw Material (Coconut Oil, Palm Oil, Mammal Milk, Others), Application (Personal care, Cosmetics, Pharmaceutical, Food & Beverage, Fertilizer, Chemicals Others) – Industry Trends and Forecast to 2029.
Caprylic Acid Market Analysis and Size
The caprylic acids market is expected to witness positive growth during forecast period. Growing health consciousness among people related with increased nutrition and dietary supplements, increasing federal regulations, and rising environmental concerns regarding the non-renewable resources and deficiency of natural have triggered the demand of caprylic acid, especially in developing economies which will boost the growth rate of the market during the forecast period of 2022-2029.
Data Bridge Market Research analyses that the caprylic acid market was valued at USD 4.60 million in 2021 and is expected to reach USD 9.65 million by 2029, registering a CAGR of 9.70% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Caprylic Acid Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Raw Material (Coconut Oil, Palm Oil, Mammal Milk, Others), Application (Personal care, Cosmetics, Pharmaceutical, Food & Beverage, Fertilizer, Chemicals Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Wilmar International Ltd (Singapore), KLK OLEO. (Malaysia), Ecogreen Oleochemicals (Singapore), Procter & Gamble (U.S.), IOI Corporation Berhad (Malaysia), Pacific Oleochemicals Sdn Bhd (Malaysia), McKinley Resources Inc. (U.S.), Cremer Oleo GmbH & Co. KG (Germany), Merck KGaA (Germany), Vigon International, LLC. (U.S.), Spectrum Chemical (U.S.), Hydrite Chemical (U.S.), Forchem Oyj (Finland), Kraton Corporation (Japan)
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Market Opportunities
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Market Definition
Caprylic acid is also known as octanoic acid. This is a medium-chain fatty acid naturally found in coconut oil, palm oil, and the milk of humans and some animals. Caprylic acid is a component of medium-chain triglyceride (MCT) products. People mainly use caprylic acid for epilepsy which is a nerve disorder that causes digestive disorders, uncontrollable shaking (essential tremor), kidney failure and many other conditions, but there is no good scientific evidence to support these uses.
Global Caprylic Acid Market Dynamics
Drivers
- Caprylic acid advances digestive health
Caprylic acid's calming properties can treat stomach-related problems such as irritable bowel syndrome (IBS) and inflammatory bowel disorder. This condition is generally related to bacterial diseases and internal aggravation, so the caprylic acid can be used to cure both of these conditions. The increasing demand of caprylic acid for advanced digestive health are anticipated to drive the market growth rate.
- Rising demand of caprylic acid for personal care product
The rising demand for personal care products in emerging economies is anticipated to positively impact the demand for caprylic acid. Caprylic acid is widely used in the preparation of esters, this ester is used in the production of many products such as color cosmetics, perfumes, skincare, haircare, soaps, and other personal care goods. The rising demand of caprylic acid for the production of personal care product is expected to drive the market's growth rate.
Opportunities
- Growing demand of caprylic acid in pharmaceutical sector
Caprylic acid is also used in the several medical applications such as treatment of children with Crohn's as well as epilepsy disease which is expected to boost the demand of the caprylic acid market in upcoming years. Moreover, it also aids in the treatment of candida virus, bladder infections, oral gingivitis, urinary tract infections and also to maintain the body's pH balance.The rising demand for caprylic acid in the pharmaceuticals industries will further immense opportunities that will lead to the growth of caprylic acid market in the above mentioned forecast period.
Furthermore, increasing health concerns associated with growing demand for dietary supplements and nutrition are anticipated to boost the growth of the caprylic acid market. The rising cholesterol level amongst food & beverage consumers and increasing prevalence of chronic diseases are other major factors that accelerate the market growth during the forecast period of 2022-2029.
Restraints/ Challenges
- High cost associated with caprylic acid
The high cost and low availability of raw materials which is used for the production of caprylic acid are anticipated to remain a major challenge for the major market players in the market.
- Stringent government regulations associated with caprylic acid
Stringent government regulations regarding the usage of aspartame in food and beverage industry will act as a major market restrain, and further challenge the growth of caprylic acid market during the forecast period of 2022-2029.
This caprylic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the caprylic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Covid-19 Impact on Caprylic Acid
The outbreak of COVID-19 has temporarily slowed the global economic growth. The operational halts directly affect the revenue growth of the caprylic acid market. The rapid spread of coronavirus considerably affects the international business sectors due to shut down and lockdown during this pandemic. The consumer market has suddenly shown zero revenue for the purchasing products. One of the major issues which is challenging the market growth is the closure of several modes of transportation. The need for caprylic acid was stopped due to a global emergency in all segments, which was obstructed by a drop in interest in merchandise products and creation.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Caprylic Acid Market Scope
The caprylic acid market is segmented on the basis of raw material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
- Coconut Oil
- Palm Oil
- Mammal Milk
- Others
Application
- Personal care
- Cosmetics
- Pharmaceutical
- Food & Beverage
- Fertilizer
- Chemicals
- Others
Caprylic Acid Market Regional Analysis/Insights
The caprylic acid market is analysed and market size insights and trends are provided by country, raw material and application as referenced above.
The countries covered in the caprylic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the caprylic acid market in terms of revenue and market share. This is due to the growing patient population which is suffering from chronic diseases and availability of major market players in this region
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2022-2029 due to the increasing government expenditure on R&D activities and growing pharmaceutical sector in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Caprylic Acid Market Share Analysis
The caprylic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to caprylic acid market.
Some of the major players operating in the caprylic acid market are:
- Wilmar International Ltd (Singapore)
- KLK OLEO. (Malaysia)
- Ecogreen Oleochemicals (Singapore)
- Procter & Gamble (U.S.)
- IOI Corporation Berhad (Malaysia)
- Pacific Oleochemicals Sdn Bhd (Malaysia)
- McKinley Resources Inc. (U.S.)
- Cremer Oleo GmbH & Co. KG (Germany)
- Merck KGaA (Germany)
- Vigon International, LLC. (U.S.)
- Spectrum Chemical (U.S.)
- Hydrite Chemical (U.S.)
- Forchem Oyj (Finland)
- Kraton Corporation (Japan)
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