The global caprylic/capric triglyceride market is expected to reach US$ 1.2 billion by the end of 2033, growing at a CAGR of 5% between 2023 and 2033.
Caprylic capric triglyceride is a chemical formed by mixing glycerin and fatty acids from natural oils, such as coconut oil. These triglycerides act as antioxidants and help to smooth the skin, which is why they are widely utilised in skincare items like soaps and cosmetics. They are transparent, colourless, and odourless liquids that offer a natural alternative to the synthetic ingredients found in many beauty products.
Caprylic capric triglyceride is produced by combining fatty acids with natural oils such as glycerin and coconut oil. It is used in various personal and cosmetic products as an emollient, solvent, dispersion agent, and antioxidant. With its natural antioxidant, antimicrobial, and antifungal properties, demand for organic personal care products is expected to increase significantly.
Caprylic capric triglyceride was approved by the FDA for use in nutritional supplements in the food sector, and it is now widely used in dietary and therapeutic uses. The increasing demand for personal care products such as skin creams, lotions, moisturisers, sunscreens, lip balms, scents, face washes, serums, hair products, and others is projected to drive the caprylic capric triglyceride market.
The rise in pollution levels and environmental changes resulting in deteriorating skin health has fuelled demand for personal care products, helping to the expansion of the caprylic capric triglyceride market. Increased consumer expenditure on body and facial aesthetics worldwide is projected to boost sales of these substances in the coming years.
Key Takeaways from Market Study:
- The global caprylic capric triglycerides market is valued at US$ 700 million as of 2023.
- Demand for caprylic capric triglycerides is projected to increase at a CAGR of 5% during the forecast period (2023 to 2033).
- The market for caprylic capric triglycerides is estimated to touch US$ 1.2 billion by 2033.
- Demand for caprylic capric triglycerides in the United States is expected to increase at a high CAGR of 7% during the forecast period.
- Consumption of medicines containing caprylic capric triglycerides is expected to rise at a CAGR of 5% through 2033.
“Increasing government push to use of organic products and rising environmental concerns are expected to fuel the demand for caprylic capric triglycerides for use in industrial products,” says a Fact.MR analyst.
Winning Strategy:
The market for caprylic capric triglycerides is expected to grow as a consequence of increased demand from the food and beverage industry, as well as the personal care and cosmetics industry, due to their natural benefits. Furthermore, it is expected that R&D on the use of promising and low-cost raw materials for the production of caprylic capric triglycerides will boost the market throughout the projection period.
Solazyme Inc. developed a new caprylic acid production technique using algae oil. The use of algal oil is a low-cost approach for producing caprylic acid and meeting rising customer demand.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global caprylic capric triglycerides market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on form (liquid, semi-solid), source (coconut oil, palm oil, others), and application (skincare, hair care, makeup, fragrances, food, medicines, bath & body care), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Source: https://www.globenewswire.com/news-release/2023/04/11/2644832/0/en/Demand-For-Caprylic-Capric-Triglycerides-In-The-United-States-Is-Expected-To-Increase-At-A-High-CAGR-Of-7-During-The-Forecast-Period-Fact-MR-Analysis.html
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