Capric Acid Market to Grow with a CAGR of 4.55% Globally through 2029
Growing demand of capric acid in cosmetic industry is expected to drive
the Global Capric Acid Market growth in
the forecast period, 2025-2029.
According to TechSci Research report, “Capric Acid Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2019-2029F”, the Global Capric Acid Market stood at USD 188.56 million in 2023 and is
anticipated to grow with a CAGR of 4.55% through 2029. Initiatives
taken by government based on capric acid has led to favorable market conditions
for the Global Capric Acid Market. Several factors contribute to the growth of
various capric acid products.
Governments allocate funding towards research and
development projects associated with capric acid. These funds are designated to
support scientific studies, technological innovations, and product development
endeavors, all aimed at exploring novel applications, refining production
processes, and enriching the collective comprehension of capric acid's
properties and advantages.
Governments endorse education and training initiatives
tailored to enhance workforce capacity and cultivate expertise within the
capric acid industry. These programs encompass vocational training, technical
education, and research scholarships concentrated on disciplines such as
chemistry, biochemistry, biotechnology, and chemical engineering—pertinent
fields crucial for capric acid production and utilization.
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Capric acid possesses moisturizing and emollient
properties, making it an ideal ingredient for skincare products. It helps to
hydrate and soften the skin, providing relief for dryness and improving overall
skin texture. As consumers seek skincare solutions that offer hydration and
nourishment, the demand for cosmetics containing capric acid continues to rise.
Capric acid is beneficial for hair care products in
addition to skincare, due to its conditioning and detangling properties. It
aids in smoothing the hair cuticle, reducing frizz, and enhancing shine,
rendering it a valuable ingredient in shampoos, conditioners, and hair masks.
As consumers prioritize hair health and seek products that yield visible
results, the demand for capric acid in hair care formulations continues to
rise.
The Global Capric Acid Market is segmented into source, application, regional
distribution, and company.
Based on its source, the plant segment demonstrated
the significant dominance in the forecast period. Favorable media coverage and
endorsements from influencers, celebrities, and health experts have the
potential to heighten awareness regarding the advantages of plant-based diets
and products, including those featuring plant-derived ingredients such as
capric acid. Recommendations and endorsements from credible sources serve to
authenticate plant-based alternatives, thereby stimulating consumer adoption.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The Asia Pacific region has strategically cultivated
robust trade partnerships and agreements, thereby facilitating the seamless
export of capric acid and its associated products to global markets. These
trade alliances have played a pivotal role in solidifying the Asia Pacific's
position as a dominant force in the global capric acid market.
The region's strong trade relationships, particularly
with key markets like North America and Europe, have contributed significantly
to its market dominance. Through these partnerships, the Asia Pacific has
gained access to lucrative markets, while also fostering mutually beneficial
collaborations that enhance the competitiveness and sustainability of its
capric acid industry.
Major companies operating in Global Capric Acid Market
are:
- Acme-Hardesty Co.
- ECOGREEN OLEOCHEMICALS (SINGAPORE)
PTE LTD
- HENAN EASTAR CHEM.&TECH.
CO.,LTD.
- Hangzhou Oleochemicals Co., Ltd.
- IOI Corporation Berhad
- Kuala Lumpur Kepong Berhad
- Majorhub Oleochemicals P. Ltd
- Procter & Gamble Company
- Univar Solutions Inc.
- Kao Corporation
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“In addition to its applications in pharmaceuticals,
personal care, and food products, capric acid is utilized across diverse
industrial sectors. It serves as a key component in the production of
lubricants, plasticizers, surfactants, and specialty chemicals, owing to its
properties as a lubricant, emulsifier, and stabilizer. Capric acid derivatives,
including esters and salts, play integral roles in industrial processes
spanning from metalworking to textile manufacturing.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Capric Acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Animal, Plant), By Application (Cosmetics and Personal Care, Food & Beverage, Pharmaceutical, Industrial Chemicals, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Capric Acid
Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Capric Acid Market .
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