San Francisco, 19 November
2018: According to a report published by Grand View Research,
Inc.; the caprylicacid market is expected to reach a valuation of around USD 4.4 million by
2022.
Increasing use of product in personal
care and pharmaceutical industry, and other end-use industries can propel the
market during the forecast period (2012 to 2022).
Palm and coconut oil are used
in the manufacturing of caprylic acid. This naturally derived product has high
demand in organic personal care products due to its antifungal, antimicrobial,
and anti-oxidant properties. The product is being extensively used in the
making of esters, which are used in hair care, skin care, perfumes, soaps,
color cosmetics, and other personal care items. Thus, growing use of product in
medicines, luxuries items, surfactant, and lubricants is projected to fuel the
product demand in the coming years. Growing use of the compound in the
treatment of yeast infection, Crohn’s disease, children with epilepsy, bladder
infections and gingivitis can drive the market growth. Furthermore, the product
is also widely utilized in commercial applications such as anti-microbial
pesticide, fragrance enhancing component, and fat reducing agent.
Worldwide caprylic acid market
can be segmented on the basis of application and region.
Based on application, the
market can be split into pharmaceutical, personal care, food and beverage, and
others.
In 2014, the personal care segment
estimated for 39.2% of the total volume. Growing use of the product in the
making of cosmetics, hair care products, and skin care creams is likely to
boost the segment over the forecast period. Increasing use of the personal care
products among working population is likely to support the segment growth. Additionally,
the compound act as emollient and dispersing agent which release of pigments
and vitamins that helps smooth texture to the hair as well as skin.
Access
Research Report of Caprylic
Acid Market@ www.grandviewresearch.com/industry-analysis/caprylic-acid-market
The pharmaceutical industry is
anticipated to expand at a CAGR of over 5.0% of the overall volume during 2015
to 2022. This growth can be attributed to growth in aging population, technological
advancements, and increasing awareness about generic medicines. The product is
extensively used in the treatment of oral gingivitis, candida virus, urinary
tract infections, and bladder infections.
The food and beverage segment
is likely to show notable growth over the forecast period due to increasing use
of natural antimicrobial ingredient for food contact surfaces as well as meat
processing plants, wineries, and, breweries. Since the compound helps to
maintain function of digestive tract and pH balance of the body. Additionally,
the compound activates ghrelin that helps to increase appetite. The product
demand in food and beverage applications is projected to be worth USD 1.3
million by 2022.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/renewable-chemicals
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa.
In 2014, North America
estimated for over 30.0% of the volume and revenue share. The region is
projected to show substantial growth during the forecast period. This growth
can be attributed to high demand for the product in personal care products and breweries,
wineries and dairies due to its antimicrobial and antifungal properties.
In 2014, Asia Pacific captured
over 25% of the total volume and is expected to show significant growth over
the forecast period. Growing disposable income and shifting consumer
preferences to naturally derived organic products is likely to boost personal
care segment in this region. Additionally, rapid industrialization along with
rise in pharmaceutical research by companies is expected to boost the product
demand in the coming years. The pharmaceutical market in China is likely to
display high growth due to rise in health concerns, improving economic and
demographic conditions, and growing R&D efforts.
Europe is expected to grow on
account of growing demand from personal care sector. The product is used in the
manufacturing of personal care products that can help in reducing wrinkles,
cellulite, and age spots.
Some of the leading companies
operating in the market include Vigon International Inc.; Pacific Oleochemicals
Sdn Bhd; Wilmar International Ltd.; Solazyme; and Ecogreen Oleochemicals.
Access
Press Release of Caprylic Acid Market@ www.grandviewresearch.com/press-release/global-caprylic-acid-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment