The global caprylic acid market is experienced a tremendous growth throughout the forecast period from 2015 to 2024. Caprylic acid is basically a fatty acid of 8-fat carbon, produced naturally in coconut and palm oil as well as human and bovine milk. This acid is chemically known as octanoic acid. Furthermore, caprylic acid has been approved as safe food additive by the Food and Drug Administration (FDA) department.
The caprylic acid market is segmented into application type and geography. On the basis of application, the caprylic acid market is segmented into food, drugs, safe pesticides and cosmetic products. Geographically, the caprylic acid market is segmented into North America, Europe, Asia Pacific and rest of the World. Rising health concerns coupled with growing demand for nutrition and dietary supplements are boosting the growth of the caprylic acid market. In addition, increasing medical application of caprylic acid as nutritious dietary supplements for patients is positively contributing to the growth of this market.
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Caprylic acid as a natural fatty acid helps to boost the immunity against bacterial infections, chron’s disease and rising cholesterol level. In addition, caprylic acid is also effectively used for killing various pathogens and increasing its application in various commercial places as an antimicrobial pesticide for food contact surface sanitizer. This caprylic acid is also used as health sanitizer for medical institutions. This various application of caprylic acid has driven the growth of this market globally.
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The global caprylic acid market is primarily driven by increasing health consciousness among the people associated with rising nutrition and dietary supplements. Increasing federal regulations and growing environmental concerns regarding deficiency of natural and non-renewable resources has triggered the global demand for caprylic acid and other fatty acids towards its higher applications. In addition, increasing prices of conventional vegetable oils and animal fats and higher export duties are fueling the demand for caprylic acid and other fatty acids.
Different end-user companies and various specialty chemical formulators are enhancing the uses of natural caprylic acid and other fatty acids as vital resources to meet the raw material needs. Caprylic acids are major hydrophobes and it is increasingly used in surfactant applications. Furthermore, different government based incentives program encouraging the growth of renewable, natural fatty acids that further enhance the growth of caprylic acid market.
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However, in spite of various advantages offered by caprylic acid there are some restraining factors that prevent the growth of the market. Increased consumption of fatty acids like caprylic acid causes some health problems such as constipation, nausea, diarrhea, heartburn and indigestion. All these concerns have negatively impacted on the growth of the global caprylic acid market during the forecast period.
Asia Pacific dominated the global demand for caprylic acid market in 2014 in terms of revenue. Caprylic acid has increasable used in food, wax and perfumeries industries that help to drive the growth of this market in several developing economics including Korea, China, India and Japan. Further, other markets such as Middle East and South Africa generate moderate to high demand for nutrition supplements and food additive caprylic acid. Apart from this, North America is anticipated to experience significant growth in the caprylic acid market during the forecast period. This is because of major weight loss programs are organized regarding caprylic acid intake in countries like Canada and the U.S.
Some of the key players operating in the caprylic acid market are IOI, Forchem, Oleon,Arizona Chemicals, Kuala Lumpur Kepong (KLK), Oxiteno, MeadWestVaco, Wilmar International Vantage Oleochemical, Braido, Felda and CremerOleo.
