Global Trends and Insights on the Caprylic/Capric Triglycerides Market: A 2033 Forecast Report
The global market
for caprylic/capric triglycerides is projected to be valued at approximately
US$ 735 million in 2023, with expectations to grow to around US$ 1.2 billion by
the conclusion of 2033, reflecting a compound annual growth rate (CAGR) of 5%
during the period from 2023 to 2033.
Caprylic/capric triglycerides are produced by the esterification
of glycerin with fatty acids derived from natural oils, notably coconut oil.
These triglycerides serve as antioxidants and contribute to skin smoothness,
which accounts for their prevalent use in skincare formulations, including
soaps and cosmetics. They are characterized as clear, colorless, and odorless
liquids, offering a natural alternative to the synthetic ingredients commonly found
in many skincare products.
In addition to their role in personal care,
caprylic/capric triglycerides are also utilized across various other sectors,
including pharmaceuticals and the food and beverage industry.
The escalation of pollution and environmental
alterations resulting in declining skin health has significantly increased the
demand for personal care products, thus fostering the expansion of the caprylic
capric triglyceride market. Furthermore, the rising consumer expenditure on
improving body and facial aesthetics globally is anticipated to further boost
the sales of these compounds in the years ahead.
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 anticipated to expand as a result
of the rising demand from the food and beverages sector as well as the personal
care and cosmetics industry due to their natural benefits. Also, it is
anticipated that R&D pertaining to the usage of promising and inexpensive
raw materials for the manufacturing of caprylic capric triglycerides will drive
the market during the forecast period.
- Algal
oil is used as a raw resource in a novel caprylic acid synthesis method
created by Solazyme Inc. The utilization of algal oil is a cost-effective
method to produce caprylic acid and meet the growing demand from customers
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