According to Technavio’s latest market research study, the global capric acid market is expected to grow at a CAGR of close to 7% during the forecast period 2017-2021.
This report by Technavio provides an in-depth analysis of the global capric acid market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user industries
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The top three revenue contributing product segments are discussed below
Global capric acid market in cosmetics and personal care industry: The use of capric acid in cosmetics and personal care products provides a lightweight and non-greasy barrier of lubrication, and it conditions skin and hair. Capric acid is found in personal care products such as perfumes, lipsticks, moisturizing lotions, sunscreen lotions, anti-aging serums, eye creams, foundation lotions, lip liners, and eyeliners.
“Capric acid in personal care products helps to spread and complete absorption of vitamins, pigments, and other active ingredients of a solution by the epidermis. The market segment is driven by the growing demand for male grooming products. The available of a wide range of grooming products for male consumers that meet their requirements will result in the growth of the capric acid market,” says Ajay Adhikari, a lead analyst at Technavio for research on specialty chemicals.
Global capric acid market in food and beverage industry: This acid is medium-chain triglyceride (MCT), which is easily digested and gives the body quick energy. Capric acid is used in edible creams, butter, cookies, caramel products, milk chocolates, mango drinks, whiskeys, and cheese flavors in the food and beverage industry. The increasing demand for capric acid from breweries, wineries, and meat-processing plants will drive the growth in the global market.
Global capric acid market in the pharmaceutical industry: The growing application of capric acid in the manufacturing of drugs for diabetes will lead to the growth of this market segment. This acid forms a salt or ester with a drug that increases its lipophilicity and affinity for fatty tissue. Some of the decanoate ester drugs available in the market are fluphenazine, haloperidol, nandrolone, and bromperidol.
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The top vendors operating in the global capric acid market are:
- Ecogreen Oleochemicals
- Henan Eastar Chemicals
- P&G
- Temix Oleo
- VVF
A more detailed analysis is available in the Technavio report titled, ‘Global Capric Acid Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Acrylic Acid and its Derivatives Market 2016-2020
- Global Butyric Acid Market 2016-2020
- Global Boric Acid Market 2016-2020
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