Global Caprylic Acid Market: Information by End-Use Industry (Personal Care and Cosmetics, Pharmaceuticals, Food & Beverage, Fertilizer, Chemicals), Source (Coconut Oil, Palm Oil, Mammal Milk) and Region (Asia-Pacific, North America)—Forecast till 2023
Pune, India - March 20, 2019 /MarketersMedia/ —
Caprylic Acid Market Overview:
Caprylic acid, also known as octanoic acid, is a saturated fatty acid obtained naturally from mammal milk, coconut oil, or palm oil. It is an oily liquid with an unpleasant rancid odor. The product is widely used in the production of esters, which are used in perfumery, and in the manufacturing of dyes. Moreover, caprylic acid finds application as a disinfectant in veterinary, healthcare, and industrial facilities, hotels, and schools, among others. Caprylic acid has antimicrobial properties which make it applicable as a surface sanitizer in dairies, breweries, food & beverage processing plants. Apart from this, the product is used a bactericide, fungicide, and herbicide in greenhouses. The other applications of caprylic acid are animal feed, corrosion inhibitor, and plasticizer.
The increasing demand for caprylic acid in the personal care and cosmetics and pharmaceuticals industries is expected to propel market growth during the forecast period. Caprylic acid finds application in the manufacture of perfumes, in masking agents, and artificial flavorings. The increased demand for personal care products is likely to propel market growth in the years to follow. Furthermore, the rising health consciousness and stringent government regulations regarding the hygiene and quality of food products are expected to boost the demand for caprylic acid in the food & beverage industry.
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Caprylic Acid Market Key Players:
Some of the leading players in the global caprylic acid market are McKinley Resources Inc. (US), Cremer Oleo GmbH & Co. KG (Germany), KLK Oleo (Malaysia), Pacific Oleochemicals Sdn Bhd (Malaysia), Merck KGaA (Germany), Vigon International (US), Wilmar BioEthanol (Australia), Ecogreen Oleochemicals (Singapore), Spectrum Chemical Manufacturing Corp (US), Hydrite Chemical Co. (US), Interfat (Spain), and Procter & Gamble (US).
Caprylic Acid Market Intended Audience:
Caprylic acid manufacturers
Traders and distributors of caprylic acid
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
Caprylic Acid Market Segmentation:
The global caprylic acid market has been segmented on the basis of end-user, source, and region.
Based on end-user, the global caprylic acid market has been segregated into personal care and cosmetics, pharmaceuticals, food & beverage, fertilizer, chemicals, and others.
Considering the source of raw material, the global caprylic acid market has been categorized as coconut oil, palm oil, mammal milk, and others.
The global caprylic acid market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Caprylic Acid Market Regional Analysis:
The global caprylic acid market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global caprylic acid market in 2018. This is mainly due to the increased use of the product in the cosmetics and food & beverage industries in South Korea, China, Japan, Malaysia, and Singapore.
North America and Europe are the other substantial markets for caprylic acid. The rising demand for organic personal care and cosmetic products coupled with rising health-consciousness among consumers is likely to propel the growth of the caprylic acid market during the forecast period. Stringent government regulations regarding hygiene in the food & beverage industry and rising disposable incomes resulting in the increased purchase of organic personal care products are expected to fuel market growth in North America. The US and Canada are the major countries contributing to the regional market growth. Lastly, the caprylic acid markets in the Middle East & Africa and Latin America are estimated to witness significant growth during the forecast period.
Caprylic Acid Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Caprylic Acid Market
Caprylic Acid Market Table of Content to be Continue…….,
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Source: MarketersMedia
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