“The caprylic/capric triglycerides market is projected to reach USD 913.4 million by 2026”
The caprylic/capric triglycerides market is projected to reach USD 913.4 million by 2026, at a CAGR of 5.9% from 2016 to 2026. Increasing consumption of caprylic/capric triglycerides in food & beverages, personal care, pharmaceuticals, and in industrial & other applications due to growing population and consumption of products are factors driving the growth of the caprylic/capric triglycerides market. In addition, since it is a Medium-Chain Triglycerides (MCT) and cannot be consumed by diabetic patients, a substitute of caprylic/capric triglycerides is available in form of mineral oil, which is a hindrance for growth of the market.
“Food & beverages is the largest application segment of the caprylic/capric triglycerides market, while personal care application segment is expected to grow at the highest CAGR during the forecast period”
The food & beverages industry is the largest consumer of caprylic/capric triglycerides. The caprylic/capric triglycerides, owing to its significantly growing consumption as a safe ingredient is driving its demand. With growth of this application segment, the demand for caprylic/capric triglycerides is estimated to increase during the forecast period.
Personal care is the fastest growing application segment. Wide use of caprylic/capric triglycerides in skin care products, hair care products, moisturizers, perfumes, body care products, baby care products among others is fueling the growth of the personal care application segment.
The caprylic/capric triglycerides market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period
The Asia-Pacific caprylic/capric triglycerides market is anticipated to grow at the highest CAGR between 2016 and 2026. Growth of this market can be attributed to the increasing demand for caprylic/capric triglycerides for various applications. China and Japan are the two major countries that are expected to grow at the highest CAGR during the forecast period.
The growth of the caprylic/capric triglycerides market in these two countries is mainly due to the rising demand for personal care products and food & beverages, and their growing consumption due to the increasing population. One of the major producers of caprylic/capric triglycerides in this region is KLK Oleo.
Breakdown Of Primary
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.
Breakdown Of Profile Of Primary Participants:
- By Company Type: Tier 1 - 52 %, Tier 2 - 34%, and Tier 3 - 14%
- By Designation: C Level - 50%, Director Level - 31%, and Others - 19%
- By Region: North America - 34%, Europe - 28%, Asia-Pacific - 24%, Latin America - 7% and Middle East & Africa - 7%
Major companies profiled in this report are Croda International plc (U.K.), Oleon NV (Belgium), Ecogreen Oleochemicals (Singapore), Peter Cremer North America (U.S.), IOI Oleo GmbH (Germany), KLK Oleo (Malaysia), Oxiteno (Brazil), and BERG + SCHMIDT GmbH & CO. (Germany).
This report offers an overview of market trends, drivers, and barriers with respect to the caprylic/capric triglycerides market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America. The report categorizes the caprylic/capric triglycerides market on the basis of application and region. A detailed analysis of leading players, along with key growth strategies adopted by them is also covered in the global report.
Reasons to Buy the Report:
This report covers the following key aspects:
- Market size by 2026 and the CAGR during the forecast period
- Key market trends
- Factors expected to drive the growth of the market
- Barriers impacting market growth
- Key players in the market
- Global report covers key regions, such as North America, Europe, and Asia-Pacific, Latin America, and the Middle East & Africa including major countries in these regions such as the U.S., China, Japan, India, France, and Germany.