15th November 2019 – Global Caprylic
Acid Market is expected to reach USD 4.4 million by 2022. Caprylic Acid
is also termed as an octanoic acid, a medium-chain fatty acid, which is mainly
found in milk of bovines and human, palm oil, and coconut oil. It is colorless
light yellowish transparent oily liquids with uncomfortable smell. It contains
potent anti-inflammatory, antibacterial, and antifungal properties. It is
helpful in treating oral infections, yeast infections, urinary tract
infections, skin conditions, and digestive disorders. It helps to lower the
risk of antibiotic resistance and can be naturally consumed as part of food or
may be taken as an individual supplement.
The Caprylic Acid Market is estimated to
grow at a significant CAGR over the forecast period as the scope and its
applications are rising enormously across the globe. The absence of odor and
color, long shelf life, and stability; growing health consciousness among
populace as increasing dietary and nutrition supplements, and federal and
government initiative for environment are documented as major factors of
caprylic acid industry that are estimated to enhance the growth in the years to
come.
However, excessive use may lead to
indigestion, constipation, heartburn, nausea, and diarrhea are the factors that
may restrain overall market growth in the coming years. Caprylic Acid Market is
segmented based on application and region. The market may be categorized based
on applications like pharmaceuticals, personal care and cosmetics, food and
beverages, and others may be explored in the forecast period.
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Personal care and cosmetics sector
accounted for the substantial market share of Caprylic Acid in terms of revenue
and is estimated to lead the overall market in the coming years. This may be
because of its smooth texture to skin and hair as it acts like a softening
agent, growing popularity among consumers, and its solvent and dispersing
nature. In addition, pharmaceutical sector is estimated to grow at fastest pace
in the coming years.
Globally, North America accounted for
the substantial market share of Caprylic Acid and is estimated to lead the
overall market in the coming years. The reason behind the overall market growth
could be growing food & beverage and personal care industries in the
region. Instead, Europe and the Asia Pacific are also estimated to have a
positive influence on the future growth. Europe is the second largest region
with significant market share. However, Asia Pacific is estimated to grow at
fastest pace with the highest CAGR in the foremost period.
The key players of Caprylic Acid Market
are Eastman Chemical Company, McKinley Resources Inc., Dow Chemical Company,
Barite World, Huntsman Corporation, Spectrum Chemical Manufacturing Corp.,
LANXESS, Hydrite Chemical Co., KLK OLEO, Acme Chem, and Solazyme. These players
are concentrating on inorganic growth to sustain themselves amongst fierce
competition. As companies all over the world have to believe that alliance with
a market would permit them proportional market existence and authority to
declare the leadership position.
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