Global Capric Acid Market to Reach US$1.86 bn by 2023

The global capric acid market is anticipated to exhibit a steady growth rate in the coming years, as reported by Transparency Market Research (TMR). The market's business ecosystem comprises of numerous vendors. The global market is dominated by large-scale market players. However, the competitive landscape is also made up of several small-scale, regional and local vendors, who hold significant shares at a regional level.

View Complete Report @ https://www.transparencymarketresearch.com/capric-acid-market.html

Leading vendors in the global capric acid market are seen focusing on expansion of their production facilities. The vendors are gaining momentum in the market by establishing their presence in emerging regions. Mergers and acquisitions are another key strategy being adopted by vendors in order to gain traction in the market. Key vendors in the global capric acid market are Ecogreen Oleochemcials, KLK OLEO, Hangzhou Oleochemicals, Acme-Hardesty, P&G, and Temix Oleo.

As reported by TMR, the global capric acid market is estimated to rise at a 5.0% over the forecast period of 2015 to 2023. The market was estimated to be worth US$1.21 bn in 2014 and is expected to reach US$1.86 bn by 2023.

Among the different user segments, personal care accounted for nearly 35% share in 2014. The global capric acid market is expected to be dominated by Asia Pacific over the forecast period. The region's swift growth could be attributed to healthy economic growth of countries such as India and China.

Burgeoning Demand from Food Sector to Boost Growth

The growing consumption of packaged and processed food leads to a rise in demand for new and differentiated colors, flavors, textures and aroma. Capric acid is a key ingredient used in the manufacture of esters. These esters find application in artificial food coloring, flavors, and aroma. Capric acid is further used as an antimicrobial agent, which plays a key role in commercial food handling.

Breweries, wineries, and meat processing plants use capric acid extensively. The soaring demand from all these food, food processing and packaging sectors are expected to boost the global capric acid market in the coming years.

Request a PDF Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6400

Pharmaceutical Industry to Provide Rich Opportunity

The capric acid market is expected to witness several growth opportunities in the pharmaceutical industry. Deconoate ester, which is derivative of capric ester, is used in injectable drugs. This is likely to fuel the global capric acid market in the coming years. A number of pharmaceutical companies are using capric acid derived from coconut oil to manufacture drugs especially for diabetic patients. This is another key factor propelling the market in the years to come.

The personal care sector is expected to offer bountiful growth opportunities to vendors in the capric acid market. Multitude of uses of the product across several industries will amplify sales in the global capric acid market in the forthcoming years.

Request COVID-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=6400

Visit Chemicals & Materials Case Study @ https://www.transparencymarketresearch.com/casestudies/chemicals-and-materials-case-study

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

This release was published on openPR.