Capric Acid Market Introduction
Capric acid is a medium chain saturated fatty acid that is also referred to as Decanoic acid or Decylic acid. Capric acid is known to be found abundantly in tropical oils such as palm kernel oil and coconut oil. Besides tropical oils, capric acid is also found in significant amount in cow’s or goat’s milk. Commercially, capric acid is produced from the oxidation of decanol along with the use of oxidant chromium trioxide. The use of capric acid in consumer products is high as the health benefits obtained by consumption of capric acid are numerous. For instance, it is known to increase good cholesterol in the body when consumed in combination with other medium chain fatty acids such as lauric acid and caprylic acid. Other beneficial properties of capric acid include cleansing, emulsifying, perfuming, surfactant, humectant, emollient, excipient and masking. Furthermore, capric acid also contains antibacterial and antiviral properties. This has enabled the utilization of capric acid as a denture disinfectant. Industrial applications of capric acid include the manufacture of perfumes, lubricants, plastics, food additives, greases, rubber, dyes, and pharmaceuticals.
Capric Acid Market Dynamics
Growing demand for capric acid from pharmaceutical industry is one of the key driving factor leading to the growth of global capric acid market. The healthcare industry has grown significantly during the past years and is expected to grow further in the future years as changing lifestyles has resulted in a higher dependence of population on medicine and pharmaceuticals. The esters of capric acid (decanoate esters) are extensively used in the production of drugs for increasing its affinity towards adipose tissue i.e. to increase its lipophilicity. Some examples of drugs derived from the esters of capric acid are haloperidol, bromperidol, and nandrolone among others. This has considerably resulted in a higher demand of capric acid from the pharmaceutical industry and hence is expected to drive the growth of global capric acid market.
Another key factor driving the sales of global capric acid is expected to be the growing demand from perfume industry. Perfume is a luxury based consumer good which is increasingly being consumed across the developed and developing countries. This has significantly resulted in the growth of perfume and fragrances industry. Capric acid is one of the key ingredients used in the production of perfumes. Hence, the growing production of perfumes is expected to benefit the growth of global capric acid market.
Availability of other medium chain fatty acids such as caproic acid, lauric acid and caprylic acid among others with properties similar to capric acid might restrain the sales of global capric acid. However, the intensity of impact is expected to be low and thus the dominating impacts of driving factors are expected to lead the growth of global capric acid market. This growth is expected to be further enhanced by the investments of capric acid manufacturers being made in high growth regions such as East Asia and South Asia for economical production and expansion.
Capric Acid Market Segmentation
The global capric acid market can be segmented on the basis of source, end-use and regions.
On the basis of source, the global capric acid market can be segmented as:
On the basis of end-user, the global capric acid market can be segmented as:
- Food and Beverage (F&B)
- Personal Care
- Industrial Chemicals
Capric Acid Market Participants
Some of the market participants identified across the value chain of global capric acid market that are involved in the manufacturing, supply or distribution of capric acid are P&G Chemicals, KLK OLEO, IOI Oleochemicals, Acme-Hardesty Company, Sisco Research Laboratories Pvt. Ltd., Mosselman s.a, Saanvi Corp, Chemical Associates and Oleocomm Global SDN BHD among others.
Capric Acid Market Regional Outlook
Asian regions are expected to dominate the global capric acid market. Owing to economical production and increasing manufacturing, East Asia is expected to dominate in the global capric acid market. Also, improving infrastructure and economy of South Asian countries is expected to mark South Asia as a significant consuming region of the global capric acid market. Manufacturers are highly focusing towards investment in countries like China, Japan and India as they offer various opportunities of growth to the market. Other regions such as North America and Europe are also expected to hold promising shares of the global capric acid market.
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