Global Capric Acid Market is Growing to Reach USD 290 Million by 2026

Facts and Factors report "Capric Acid Market By Source (Animal, Plant) and By End-Users (Food & Beverages, Industrial Chemicals, Personal Care, Pharmaceuticals and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Capric Acid market in 2019 was approximately USD 235 Million. The market is expected to grow at a CAGR of 3% and is anticipated to reach around USD 290 Million by 2026.

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Capric acid is extracted from plants and animals. Coconut oil possesses around 10% of capric acid in it. While goat milk is having around 15% of the capric acid in it. Capric acid has a wide range of applications. The demand for capric acid generated from the food and beverage industry, pharmaceutical industry, perfume, and scent industry is expected to spur the capric acid market in the forecasted period.

Rise in demand for capric acid from the pharmaceutical industry major driving factor for the capric acid. Over the past few years, the healthcare industry has developedintensely and is estimated to continue to develop in the coming years. The change in lifestyle has increased population the dependence on drugs and pharmaceutical products. The increasing demand from the perfume industry is expected to be another key factor driving global capric acid sales. Perfume is a consumer good focused on luxury which is consumed continuously through developed and developing nations. This led to significant growth in the fragrance and perfume industries.

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According to the type, the market is bifurcated in categories such as plants and animals. In plants, capric acid is mainly extracted from the coconut. The coconut oil possesses around 10% of capric acid in it. Moreover, capric acid can also be found in the cow and goats milk. The capric acid generated from the plant is projected to have significant demand in the forecasted period. According to an application, the capric acid is segmented as pharmaceuticals, industrial chemicals, food & beverages, personal care, and others. The capric acid is used in debetic medicines and as a flavoring agent in the food and beverage industry which estimated to propel the market in the forecasted period.

The Asia Pacific region isexpected to dominate the capric acid industry. Economic development and growing manufacturing are projected to dominatethe East global capric acid market. It is also predicted that the growth of the infrastructure and economy of South Asian countries will place South Asia on the global capric acid market as an important consuming region. Manufacturers are highly focused on investing in countries like China, Japan, and India as they give the industry-wide opportunities for growth. Several countries, such as North America and Europe, are also expected to hold global capric acid market share competitively.

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The leading market players of the capric acid market are Henan Eastar, Oleocomm International Ltd., Chemseed, Acidchem, Ecogreen, Chemical Associates, Inc. and Others.

This report segments the Capric Acid Market as follows:

Global Capric Acid Market: By Type Segmentation Analysis

Animal
Plant

Global Capric Acid Market: By Application Segmentation Analysis

Food & Beverages
Industrial Chemicals
Personal Care
Pharmaceuticals
Others

Global Capric Acid Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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