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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Caprylic/Capric Triglycerides Market Outlook
The global caprylic/capric triglycerides market is expected to grow at a CAGR of 4% in the forecast period of 2024-2032 to reach a value of USD 1,062.86 million by 2032.
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The Global Market for Caprylic/Capric Triglycerides is Bolstered by the Growing Demand for Cosmetics
The market for caprylic/capric triglycerides is being driven by the rising demand for cosmetics. The product is used in the cosmetic products as an absorbent which smoothens the skin and leaves a dry finish upon oiling of the skin. It is in high demand for products like cream, moisturizer, lotion, serum, cleanser and face wash, among others, as it does not get sticky and heavy on the skin. The product is also used in the medical field as it provides an energy source for patients ailing from fat malabsorption syndrome. Caprylic/capric triglycerides are pure and have unique attributes that still find applications in medical and nutritional products.
The Asia Pacific Presents Significant Growth Opportunities for the Caprylic/Capric Triglycerides Industry
Region-wise, the Asia Pacific and the Middle East and Africa markets for caprylic/capric triglycerides are growing significantly. Within the Asia Pacific region, India and China have witnessed considerable growth over the past years. Due to the dynamic nature of the market in these developing economies as a result of rapid urbanisation, increasing disposable incomes, and changing lifestyles, the market is expected to grow rapidly in the forecast period. Additionally, India is considered to become the next home of several international producers of the product owing to the accelerating cosmetics market in the country in the forecast period. The cosmetics market in Indian is also influenced by the rising trend of influencers on the digital platform that promotes and market various cosmetic brands, along with the increasing number of young consumers within the country.
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Caprylic/Capric Triglycerides: Market Segmentation
Caprylic/capric triglycerides, variously known as MCT oil or medium-chain triglycerides is formulated by the reaction of coconut oil with glycerol through the esterification method. It is used extensively in cosmetics, beauty, and personal use industries as it offers oxidative stability and smooth texture.
On the basis of function, the market is divided into:
- Dispersing Agents
- Solubilizers
- Solvents
- Spreading Agents
- Others
Based on end use, the industry can be segmented into:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Process Industries
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand from Emerging Economies to Aid the Global Caprylic/Capric Triglycerides Market Growth
The market for caprylic/capric triglycerides is driven by the growing demand for personal care products like creams, moisturizers, and soaps across the world. It is in huge demand due to its smooth texture, oxidizing effect, and low cost. The market is expected to witness further growth prospects in countries, such as India, China, and Egypt. Regions such as the Middle East and the Asia Pacific are witnessing robust growth as a result of changing perception towards cosmetics and fashion. Factors such as increased per capita income and changing lifestyles are also influencing the market positively. The caprylic/capric triglycerides industry is predicted to grow during the forecast period owing to its versatile benefits.
Key Industry Players in the Global Caprylic/Capric Triglycerides Market
The report gives a detailed analysis of the following key players in the global caprylic/capric triglycerides market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Berg + Schmidt GmbH & Co. KG
- Croda International plc
- IOI Oleo GmbH
- Oleon NV
- Ecogreen Oleochemicals Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Function |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Caprylic/Capric Triglycerides Market Report Snapshots
Caprylic/Capric Triglycerides Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 1,062.86 million by 2032.
The major drivers of the market include the growing demand for cosmetics, the rising use of caprylic in medical and nutritional products, rising disposable incomes, and rapid urbanisation.
The key trends propelling the market development are the low cost, smooth texture, and oxidising effects provided by caprylic/capric triglycerides, the growing awareness regarding the versatile benefits of caprylic/capric triglycerides, and the rising sales of cosmetics in emerging economies.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading functions of caprylic/capric triglycerides in the market are dispersing agents, solubilisers, solvents, and spreading agents, among others.
The major end uses of caprylic/capric triglycerides include food and beverages, personal care and cosmetics, pharmaceuticals, and process industries, among others.
The major players in the market are Berg + Schmidt GmbH & Co. KG, Croda International plc, IOI Oleo GmbH, Oleon NV, and Ecogreen Oleochemicals Inc., among others.
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