The global Caprylic Capric Triglyceride Market is expected to create an incremental opportunity of more than USD 700 Million by the end of 2022. The demand for caprylic capric triglyceride is estimated to surpass USD 1,230 Million by 2032, in comparison to the USD 650 Million registered in the year 2021.
The sales of caprylic capric triglyceride are anticipated to rise at a CAGR of around 5% to 6% during the forecast period 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Caprylic Capric Triglyceride Market Registered Base Value (2021) | USD 650 Million |
| Caprylic Capric Triglyceride Market Expected Value (2022) | USD 700 Million |
| Caprylic Capric Triglyceride Market Anticipated Value (2032) | USD 1,230 Million |
| Caprylic Capric Triglyceride Market Projected Growth Rate (2022 to 2032) | 5% to 6% CAGR |
Caprylic capric triglyceride, commonly known as octanoic acid due to the presence of an eight-carbon chain of saturated fatty acid, is an oily liquid, formulated by combining glycerin and coconut oil. It is also naturally found in a minimal amount of palm kernel oil and in the milk of numerous mammals.
It is a clear, non-viscous liquid with a rancid-like smell and contains a mix of fatty acids that is partially soluble in water.
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Caprylic capric triglyceride is gaining huge popularity across the personal care and cosmetics industries, on account of its favorable properties such as skin replenishment, emollient, antioxidant, moisturizing, and non-greasy feel among others.
It is extensively being used in various personal care and cosmetics products such as face creams, perfumes, moisturizers, lipstick, foundations, eye makeup, sunscreens, and others.
Hence, accelerating sales of the aforementioned products, owing to the growing consumer spending on enhancing body and facial aesthetics across the world is projected to create high revenue generation opportunities for the caprylic capric triglyceride market.
There are some side effects associated with the use and consumption of caprylic capric triglycerides such as skin irritation, the development of rashes, gastric distress, nausea, and diarrhea among others. A growing instance of such ailments is impeding sales in the global market.
The high cost of caprylic capric triglyceride and the increasing availability of low-cost substitutes are some of the factors restraining the growth in the market.
As per Future Market Insights, South Asia is estimated to emerge as a highly remunerative market for caprylic capric triglyceride between 2022 and 2032.
Over the last few years, a significant rise in the number of baby births is being witnessed across South Asia, creating strong demand for baby care products. For instance, according to United Nations International Children's Emergency Fund (UNICEF), nearly 67,385 babies are born across India every day.
Due to its high moisturizing, skin nourishing, and antioxidant properties, caprylic capric triglyceride is increasingly used for the production of baby care products such as soaps, massage oil, body lotions, and others. Hence, rising baby births are projected to bolster sales in the South Asia market.
North America is anticipated to exhibit growth at a rapid CAGR in the global caprylic capric triglyceride market during the forecast period 2022 to 2032, states FMI.
As the trend of adopting clean-label products and inclination toward plant-based & organic personal care & cosmetics products continues to grow across North America, there is a rapid surge in demand for natural sources of essential ingredients such as caprylic capric triglyceride.
On account of the approval by the Food and Drug Administration regarding the use of caprylic capric triglyceride, leading players in the market are emphasizing expanding their production capacity to capitalize on surging demand. This is expected to drive growth in the North American market.
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Some of the leading players in the caprylic capric triglyceride market are Kao Corporation, ABITEC, American International Chemical, LLC., Alzo International, Charkit Chemical, Vigon International, Jarchem Industries, Lonza Group, Lipo Chemicals, Penta International, and others.
The market for caprylic capric triglyceride is highly competitive, attributed to the adoption of strategies such as production capacity expansion, collaboration, merger, and acquisition by key companies.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% to 6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Form, Source, Application, End Use, Region |
| Countries Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Kao Corporation; ABITEC; American International Chemical, LLC.; Alzo International; Charkit Chemical; Vigon International; Jarchem Industries; Lonza Group; Lipo Chemicals; Penta International; Others |
| Customization | Available Upon Request |
FMI projects the sales of caprylic capric triglyceride in the market are expected to rise at 5% to 6% value CAGR by 2032
The global caprylic capric triglyceride market is expected to be dominated by South Asia over the forecast period 2022 to 2032.
Kao Corporation, ABITEC, American International Chemical, LLC., Alzo International, Charkit Chemical, Vigon International, Jarchem Industries, Lonza Group, Lipo Chemicals, Penta International, and others are some of the leading players in the prominent caprylic capric triglyceride market.
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Caprylic Capric Triglyceride Market
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