The global caprylic acid market is experienced a tremendous growth throughout the forecast period from 2015 to 2021. Caprylic acid is basically a fatty acid of 8-fat carbon, produced naturally in coconut and palm oil as well as human and bovine milk. This acid is chemically known as octanoic acid. Furthermore, caprylic acid has been approved as safe food additive by the Food and Drug Administration (FDA) department. The caprylic acid market is segmented into application type and geography. On the basis of application, the caprylic acid market is segmented into food, drugs, safe pesticides and cosmetic products. Geographically, the caprylic acid market is segmented into North America, Europe, Asia Pacific and rest of the World. Rising health concerns coupled with growing demand for nutrition and dietary supplements are boosting the growth of the caprylic acid market. In addition, increasing medical application of caprylic acid as nutritious dietary supplements for patients is positively contributing to the growth of this market. Caprylic acid as a natural fatty acid helps to boost the immunity against bacterial infections, chron’s disease and rising cholesterol level. In addition, caprylic acid is also effectively used for killing various pathogens and increasing its application in various commercial places as an antimicrobial pesticide for food contact surface sanitizer. This caprylic acid is also used as health sanitizer for medical institutions. This various application of caprylic acid has driven the growth of this market globally.
The global caprylic acid market is primarily driven by increasing health consciousness among the people associated with rising nutrition and dietary supplements. Increasing federal regulations and growing environmental concerns regarding deficiency of natural and non-renewable resources has triggered the global demand for caprylic acid and other fatty acids towards its higher applications. In addition, increasing prices of conventional vegetable oils and animal fats and higher export duties are fueling the demand for caprylic acid and other fatty acids. Different end-user companies and various specialty chemical formulators are enhancing the uses of natural caprylic acid and other fatty acids as vital resources to meet the raw material needs. Caprylic acids are major hydrophobes and it is increasingly used in surfactant applications. Furthermore, different government based incentives program encouraging the growth of renewable, natural fatty acids that further enhance the growth of caprylic acid market.
However, in spite of various advantages offered by caprylic acid there are some restraining factors that prevent the growth of the market. Increased consumption of fatty acids like caprylic acid causes some health problems such as constipation, nausea, diarrhea, heartburn and indigestion. All these concerns have negatively impacted on the growth of the global caprylic acid market during the forecast period.
Asia Pacific dominated the global demand for caprylic acid market in 2014 in terms of revenue. Caprylic acid has increasable used in food, wax and perfumeries industries that help to drive the growth of this market in several developing economics including Korea, China, India and Japan. Further, other markets such as Middle East and South Africa generate moderate to high demand for nutrition supplements and food additive caprylic acid. Apart from this, North America is anticipated to experience significant growth in the caprylic acid market during the forecast period. This is because of major weight loss programs are organized regarding caprylic acid intake in countries like Canada and the U.S.
Some of the key players operating in the caprylic acid market are IOI, Forchem, Oleon,Arizona Chemicals, Kuala Lumpur Kepong (KLK), Oxiteno, MeadWestVaco, Wilmar International Vantage Oleochemical, Braido, Felda and CremerOleo.
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.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.