Global Caprylic Acid Market is expected to reach USD 4.4 million by 2022. Caprylic Acid is also termed as an octanoic acid, a medium-chain fatty acid, which is mainly found in milk of bovines and human, palm oil, and coconut oil. It is colorless light yellowish transparent oily liquids with uncomfortable smell. It contains potent anti-inflammatory, antibacterial, and antifungal properties. It is helpful in treating oral infections, yeast infections, urinary tract infections, skin conditions, and digestive disorders. It helps to lower the risk of antibiotic resistance and can be naturally consumed as part of food or may be taken as an individual supplement.
The Caprylic Acid Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe. The absence of odor and color, long shelf life, and stability; growing health consciousness among populace as increasing dietary and nutrition supplements, and federal and government initiative for environment are documented as major factors of caprylic acid industry that are estimated to enhance the growth in the years to come.
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However, excessive use may lead to indigestion, constipation, heartburn, nausea, and diarrhea are the factors that may restrain overall market growth in the coming years. Caprylic Acid Market is segmented based on application and region. The market may be categorized based on applications like pharmaceuticals, personal care and cosmetics, food and beverages, and others may be explored in the forecast period.
Personal care and cosmetics sector accounted for the substantial market share of Caprylic Acid in terms of revenue and is estimated to lead the overall market in the coming years. This may be because of its smooth texture to skin and hair as it acts like a softening agent, growing popularity among consumers, and its solvent and dispersing nature. In addition, pharmaceutical sector is estimated to grow at fastest pace in the coming years.
Globally, North America accounted for the substantial market share of Caprylic Acid and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be growing food & beverage and personal care industries in the region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period.
The key players of Caprylic Acid Market are Eastman Chemical Company, McKinley Resources Inc., Dow Chemical Company, Barite World, Huntsman Corporation, Spectrum Chemical Manufacturing Corp., LANXESS, Hydrite Chemical Co., KLK OLEO, Acme Chem, and Solazyme. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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Caprylic Acid Market Application Outlook (Volume, Tons; Revenue, USD Million, 2012 – 2022)
• Personal care
• Food & beverage
Caprylic Acid Market Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 – 2022)
• North America
• United Kingdom
• Asia Pacific
• Latin America
• Middle East & Africa
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