Caprylic Acid Market - Global Industry Analysis, Size, Share, Trends And Forecast 2015 – 2023
Caprylic acid is one of the major medium chain triglycerides (MCT), chemically known as octanoic acid. It is a saturated fatty acid containing eight carbon atoms. Caprylic acid occurs naturally in the milk of different mammals. It is also found as one of the components of coconut and palm kernel oils. Caprylic acid has potential antimicrobial activity to inhibit the growth of a broad range of microbes such as bacteria, fungi, and algae. It acts as an active fungicide by preventing the infection of Candidafungi, commonly known as Candidacells. Caprylic acid also functions to activate ghrelin, a protein that stimulates hunger and increases appetite. It oxidizes the fat component in the body, enabling burning of excess calories, and aiding in weight loss.
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Caprylic acid has extensive commercial applications as an antimicrobial pesticide, fragrance-enhancing component, and fat-reducing agent. It is used to prepare esters used in perfumes, artificial flavorings, and dyes. Due to its antimicrobial activity it is applied as a food contact surface sanitizer in equipment used in wineries, breweries, dairies, and other food and beverage processing plants. It is used as a dietary supplement to initiate the fat burning process. It prevents fungal infections caused by yeast and bacteria in stomach and hence recommended for use in alternative medicines. Additionally it has uses in the manufacture of lubricants and grease. It acts in metal working fluids to solubilize mineral oil.
Caprylic acid has potential applications in a broad range of end-user industries. These include personal care or cosmetics (perfume, fragrance, and sanitizer); food and beverage; pharmaceuticals; and rubber and plastic (lubricant and grease). Such wide commercial application builds a prospective market for caprylic acid. North America holds the major share of the market. Weight loss campaigns and improved life styles of people in the U.S. and Canada are likely to fuel a growing market in the next few years. The growth of the end-user industries of caprylic acid in Europe accounts for a significantly healthy market there. A similar trend is forecasted to continue in future in Europe. High consumption of caprylic acid is observed in the developing countries of Asia Pacific due to increased application in luxurious items, perfumes, food supplements, medicines, wax, etc. This leads to a surging market of caprylic acid in Asia Pacific. During the forecast period the market in China, South Korea, Japan and India are anticipated to witness a tremendous boost. MEA is also expected to appear as an emerging market for caprylic acid due to rising demand as a food supplement and additive.
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Approval of caprylic acid by the U.S. Food and Drug Administration (FDA) empowers its potential use as a food additive and nutritious supplement, driving a rise in demand. Medical and dietary application accelerates growing demand in the global market. Caprylic acid is obtained from raw materials that are natural, renewable, and “green.” Being free from environmental concerns and regulatory hazards, application of caprylic acid for commercial purposes is highly encouraged. Application of caprylic acid as a surfactant due to its hydrophobic nature enhances its demand in the global market. However, increased application of caprylic acid may elicit some health symptoms such as: nausea, constipation, heartburn, indigestion, etc. Such factors can hinder the growth in demand for caprylic acid.
Some of the key players in the caprylic acid market include: VVF L.L.C., Wilmar International, Oleon, Klk Oleo Sdn. Bhd., Acme Synthetic Chemicals, P&G Chemicals, and ChemCeed.
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This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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