The global caprylic acid market size was significantly large in 2020 and is expected to register a double-digit revenue CAGR over the forecast period. A major factor driving market revenue growth is increasing adoption of caprylic acid in pharmaceutical sector and food and beverages industry due to anti-fungal and anti-microbial properties. Caprylic acid is a kind of saturated fatty acid found in foods items such as cow milk, coconut, and coconut oil.
Growing awareness about the benefits of caprylic acid coupled with rising demand for dietary and nutrition supplements is supporting market revenue growth currently, and the trend is expected to continue over the forecast period. Moreover, increasing medical application of caprylic acid, increasing research activities, and rising demand for caprylic acid in manufacturing surfactants and pesticides is also supporting market growth.
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Top Players in the Global Caprylic Acid Market:
Vigon International, Inc., Oxiteno, IOI, Forchem Oyj, Oleon NV., MeadWestVaco, Kuala Lumpur Kepong Berhad, Arizona Chemicals, Interfat, Wilmar International Ltd., Felda, Spectrum Chemical Manufacturing Corp., and CREMER OLEO GmBH Co. KG.
Caprylic acid is used as a natural antimicrobial ingredient for food equipment and contact surfaces in various industries, which include wineries, breweries, and meat processing plants. The acid helps the body to maintain the pH balance and promotes proper functioning of the digestive tract. Furthermore, the acid also activates ghrelin, which increases appetite and stimulates hunger. These benefits and advantages are driving demand and in turn supporting growth of the market.
Furthermore, new product launches, technological advancements, growing laboratory automation, and increasing prevalence of chronic diseases are factors expected to drive market growth over the forecast period.
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Market segmentation based on Material Outlook:
- Coconut Oil
- Palm Oil
- Mammal Milk
- Personal Care
- Food Beverages
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
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