According to a new market report published by Lucintel, the future of the caprylic acid market looks promising with opportunities in personal care, cosmetics, pharmaceutical, food and beverage, fertilizer, chemicals, and others. The global caprylic acid market is expected to grow with a CAGR of 8% from 2020 to 2025. The major drivers for this market are increasing adoption of caprylic acid in personal care and cosmetics, and pharmaceutical industries used in the treatment of yeast infections on account of its anti-microbial and anti-fungal properties that is expected to propel demand.
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In this market, coconut oil, palm oil, algal oil, and others are the major product types. Lucintel forecasts that coconut oil will remain the largest segment over the forecast period because of its properties like being anti-oxidant, anti-fungal and anti-microbial which will drive organic personal care demand.
Within this market, personal care, cosmetics, pharmaceutical, food and beverage, fertilizer, chemicals, and others are the major application of caprylic acid. Personal care and cosmetics will remain the largest segment by application type over the forecast period due to the growing demand of an emollient and dispersing agent where it helps in the release of pigments and vitamins which is used extensively in hair care, skincare, and cosmetic products owing to its skin as well as hair conditioning properties.
North America is expected to witness the highest growth over the forecast period due to the increasing usage of organic personal care and cosmetic products that coupled with rising health-consciousness among consumers is likely to propel the growth of the caprylic acid market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global caprylic acid market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Caprylic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global caprylic acid market by product type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Coconut Oil
Palm Oil
Algal Oil
Others
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Personal care
Cosmetics
Pharmaceutical
Food & Beverage
Fertilizer
Chemicals
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
Germany
United Kingdom
France
Italy
Spain
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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