Global Caprylic Acid Market 2017-2021
About Caprylic Acid
Caprylic acid or octanoic acid consists of eight-carbon saturated fatty acid. Caprylic acid can be found in the milk of many mammals, palm oil (3%-5%), and coconut (5%-8%). It is minutely soluble in water and has a rancid smell and taste. Caprylic acid has antimicrobial properties that restrain the growth of microbes such as bacteria, fungi, and algae. It has proved to be beneficial in fighting Candida fungi. In addition, it oxidizes fat component in the body, which enables to burn excess calories and helps in losing weight.
Technavio’s analysts forecast the global caprylic acid market to grow at a CAGR of 6.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global caprylic acid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Caprylic Acid Market 2017-2021
Technavio recognizes the following companies as the key players in the global caprylic acid market: Forchem Oyj, IOI Corporation, Kuala Lumpur Kepong, Oleon, and Wilmar International.
Other Prominent Vendors in the market are: Acme Chem, Ecogreen Oleochemicals, Hallstar, Pacific Oleochemicals, P&G Chemicals, Solazyme, and VVF.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand in food and drug segment. Caprylic acid is approved by many food and drug administrative agencies such as the US Food and Drug Administration and the European Union. These approvals allow the industry to boost its application as a food additive and nutrition supplement. As the modern generation is becoming more health and nutrition conscious, approvals like these accelerate the demand.”
According to the report, one driver in the market is increasing promotion by governments. The rising number of incentive plans by the government encourages and increases the production of natural and ecofriendly fatty acids. For instance, the US Food and Drug Administration is promoting caprylic acid as it liberates fatty acids and has nutritional values. Governments are compelling companies for using natural resources to produce caprylic acid. These initiatives have come from the growing benefits of caprylic acid in terms of health gain and the growing concerns among consumers regarding the use of naturally aspirated products that are safe to consume.
Further, the report states that one challenge in the market is uncertainty about long-term effects of caprylic acid. There are little known facts about the long-term use of caprylic acid. It may lead to side effects such as nausea, constipation, diarrhea, and indigestion. Caprylic acid may interact with blood pressure medications and lower the blood pressure. It is also harmful to people suffering from medium-chain acyl-CoA dehydrogenase deficiency as it leads to the inability to break down caprylic acid, resulting in an acid buildup in the blood. This can ultimately lead to coma. All these health concerns relate to the use of caprylic acid affect its adoption, which in turn, will hinder the market growth during the forecast period.
Forchem Oyj, IOI Corporation, Kuala Lumpur Kepong, Oleon, Wilmar International, Acme Chem, Ecogreen Oleochemicals, Hallstar, Pacific Oleochemicals, P&G Chemicals, Solazyme, and VVF.
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