Capric Acid Market to Expand owing to Rising Demand from Personal Care Industries

Capric acid is found in saturated fats and is a medium-chain fatty acid. Small amounts of capric acid are found in cow and goat milk, but it is abundantly found in tropical oils such as palm kernel oil and coconut oil. Capric acid, along with other medium-chain triglycerides, is responsible for the health benefits of coconut oil. The global capric acid market is stimulated by the rising demand from the personal care as well as food and beverage end-use industries.

Personal Care End-User Segment Represented a Share of Over 35% in 2014

Capric acid is utilized in a number of end-use industries owing to its favorable chemical properties. The end-use industries wherein capric acid is utilized include food and beverages, pharmaceutical, personal care, industrial chemicals, etc. Amongst these, the personal care end-use segment stood as the biggest segment of the market for capric acid and represented a share of over 35% in the market in 2014. It is utilized as an emollient and emulsifier in the manufacture of body lotions and creams. Capric acid assists in thickening cosmetic formulations and enhances their lubricating properties. This helps the creams spread evenly and easily on the surface of the human body. This segment is also predicted to be the most swiftly developing end-use segment and is growing at a 4% CAGR from 2015 to 2023.

Antimicrobial Properties of Capric Acid to Help Demand from Food and Beverages Industry

The food and beverages end-use segment is also amongst the biggest end users in the market for capric acid in 2014 and is anticipated to grow at a modest pace in the forecast horizon. Capric acid is utilized in the food and beverage industry owing to its antimicrobial properties. It is majorly utilized in wineries, meat processing plants, artificial flavors, and breweries. In addition to this, the industrial chemicals segment and the pharmaceutical segment are expected to constitute a significant share in the capric acid market in the coming years. 

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Asia Pacific Capric Acid Market Dominates Global Capric Acid Market

On the basis of geography, the global capric acid market is segmented into Europe, North America, Latin America, Asia Pacific, the Middle East and Africa (MEA). Amongst these, in 2014, on the basis of volume, Asia Pacific represented the biggest share of over 40% in the global capric acid market owing to increasing demand from the food and beverage and personal care industries.

The segment of personal care is expected to be the most swiftly developing end-use segment in this region owing to rising demand for capric acid in China, India, and the Association of Southeast Asian Nations (ASEAN). On the other hand, capric acid’s demand from the Middle East and Africa and Latin America is also predicted to experience considerable growth in the coming eight years. In North America and Europe, the market for capric acid is anticipated to experience growth owing to the regions’ recuperation from last decade’s economic slowdown. 

The major players operating in the capric acid market include Oleocomm Global SDN BHD, Chemical Associates, KLK OLEO, IOI Oleochemicals, P&G Chemicals, Ecogreen Oleochemicals, Temix Oleo Srl, PT Bakrie Sumatera Plantations Tbk, and VVF L.L.C.

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