Caprylic Acid Market Insights
Caprylic Acid Market is a naturally produced acid found in palm oil, coconut and in bovine and human milk. Caprylic Acid is a part of fatty acid and it is also known as octanoic acid. This exists in the form of oily liquid which is minimally soluble in the water. Caprylic acid also contains the properties of antifungal, antibacterial, antiviral and anti-inflammatory.
According to a recent study report published by the Market Research Future, The global market for Caprylic Acid is expected to grow at a significant rate of CAGR; witnessing exponential growth crossing its previous growth records by the end of the forecasted period (2020 – 2023).
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Market Segmentation
TheCaprylic Acid Market Size is segmented in to 2 key dynamics for the convenience of the report and enhanced understanding.
Segmentation On the basis of Application Type: Comprises Food Additives, Medicine, Rubber and Latex, Pharmaceuticals and Cosmetics, Manufacture Of Perfume, Organic Synthesis, Greases and Lubricants, Plastics and Rubber & Dye
Segmentation On the basis of Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Cosmetics/ Personal care Segment accounted for the largest share of the overall volume share in 2014. Caprylic acid is used extensively in hair care, skin care, and cosmetic products owing to its skin as well as hair conditioning properties.
Market Analysis
The major factor which is driving the market of Caprylic acid is increase in the awareness for health and nutrition’s. Nowadays, people spend a good part of their income on the health and try to consume as much health food as they can. Many populaces are turning towards organic foods and nutrition which is helping the market of Caprylic Acid to grow. Apart from this the government and federal regulations for environment is also forcing the companies to move towards natural resources and companies are moving towards the natural resources in order to produce the Caprylic acids. Furthermore, government is promoting the incentives programs to encourage the growth in the renewable natural fatty acids. However, there are some factors which play the restraint role in the market of Caprylic Acid. Excess consumption of Caprylic acid can cause some health issues like diarrhea, nausea, indigestion and heartburn, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 175 pages
Market Scenario
Caprylic acid has profound usage as a natural antimicrobial ingredient for food contact surfaces & equipment, which includes breweries, wineries, and meat processing plants. It helps to maintain proper functioning of the digestive tract and pH balance of the body. Furthermore, this product also activates ghrelin, which stimulates hunger and increases appetite. Furthermore, caprylic acid helps acts as an emollient and dispersing agent wherein it helps in the release of pigments and vitamins thereby providing smooth texture to the hair as well as skin. Owing to its wide range of applications; Caprylic acid market is anticipated to grow rapidly both in terms of value and volume.
Competitive analysis
Caprylic acid market is characterized by integration across various stages of the value chain by the various companies. Solazyme Inc. has developed a new technology for caprylic acid production which uses algal oil as a raw material. The algal oil has potential to produce lost cost caprylic acid and meet the rising consumer demand.
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Competitive Landscape
Key Players
· McKinley Resources Inc.
· Barite World
· Spectrum Chemical Manufacturing Corp.
· Hydrite Chemical Co
· Acme
· Chemand and Solazyme
· KLK OLEO
· LANXESS
· Huntsman Corporation
· Dow Chemical Company
· Eastman Chemical Company
Regional Analysis
Asia-Pacific dominates the market of Caprylic acid in terms of revenue in the year 2014 due to the high demand from the food industry and cosmetics. Some developing countries like China, India and Japan who are the emerging market for the cosmetic industry is consuming the Caprylic acid in very high amount resulting high demands. Apart from this other geographical area like South Africa and Middle East who are demanding more Caprylic Acid for nutrition’s and food additives. North America is introduction various health various weight loss programs helps to grow the market for Caprylic Acid.
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This post first appeared on Aramid Fiber Market Analysis, Trends, Drivers, Challenges & Forecasts 2019-2023, please read the originial post: here
