Caprylic/Capric Triglycerides Market Size was valued at USD 0.85 Billion in 2023. The Caprylic/Capric Triglycerides market industry is anticipated to rise from USD 0.90 Billion in 2024 to USD 1.36 Billion by 2032, exhibiting a CAGR of 5.27% during the period (2024 - 2032). Effective absorption leading to increased usage of caprylic/capric triglycerides and natural ingredients are the key market drivers enhancing the market growth.
Source: Primary Research, Desk Research, MRFR Database and Analyst Review
Market CAGR for caprylic/capric triglycerides is being driven by effective absorption leading to an increased usage of caprylic/capric triglycerides. The effective absorption properties of caprylic/capric triglycerides have significantly contributed to their increased usage across various industries. In the personal care and cosmetics sector, these triglycerides are valued for their lightweight and non-greasy texture, allowing them to be easily absorbed into the skin without leaving a heavy residue. As a result, they are extensively used in skincare products, such as creams, lotions, and serums, enhancing the delivery of active ingredients and promoting better skin hydration.
Moreover, in the pharmaceutical industry, caprylic/capric triglycerides are utilized as excipients in oral drug formulations due to their excellent solubility and compatibility with a diverse range of active pharmaceutical ingredients (APIs). Their capibility to improve the bioavailability of poorly soluble drugs ensures better absorption and efficacy, leading to enhanced therapeutic outcomes. Additionally, their stable chemical structure and low potential for irritation make them suitable for use in various drug delivery systems, including soft gel capsules and lipid-based formulations. Overall, the effective absorption characteristics of caprylic/capric triglycerides have made them indispensable in numerous applications, driving their increased usage and popularity across different sectors. Thus, driving the Caprylic/Capric Triglycerides market revenue.
The Caprylic/Capric Triglycerides market segmentation, based on application, includes dietary supplements, personal care, food & beverage, industrial and others. The personal care segment dominated the market, accounting for 41% of market revenue (0.33 billion). The personal care application held the largest market share in Caprylic/Capric Triglycerides due to their widespread use in skincare and cosmetic products, where they serve as effective emollients, solvents, and moisturizing agents, offering lightweight and non-greasy formulations that are well-received by consumers.
The industrial application was the fastest growing in the Caprylic/Capric Triglycerides market due to the increasing use of these triglycerides in manufacturing processes, lubricants, and metalworking fluids, driven by their excellent lubricating properties, biodegradability, and eco-friendly nature, catering to the rising demand for sustainable and high-performance industrial solutions.
Figure 1: Caprylic/Capric Triglycerides Market, by Application, 2022 & 2032 (USD Billion)
Source: Primary Research, Desk Research, MRFR Database and Analyst Review
By region, the report provides market insights into North America, Asia-Pacific, Europe and the Rest of the World. The North American Caprylic/Capric Triglycerides market area will dominate this market due to factors such as the region's well-established personal care and cosmetics industry, high consumer demand for natural and organic products, and the presence of key manufacturers and suppliers offering a wide range of Caprylic/Capric Triglyceride-based products.
Further, the major countries studied in the market report are The US, Canada, Germany, Italy, Spain, France, the UK, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CAPRYLIC/CAPRIC TRIGLYCERIDES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Desk Research, MRFR Database and Analyst Review
Europe's Caprylic/Capric Triglycerides market accounts for the second-largest market share due to its strong presence in the personal care and pharmaceutical industries, extensive use of these triglycerides in various applications, and a growing trend towards natural and sustainable ingredients in consumer products. Further, the German Caprylic/Capric Triglycerides market held the largest market share, and the UK Caprylic/Capric Triglycerides market was the fastest-growing market in the European region.
The Asia-Pacific Caprylic/Capric Triglycerides Market is expected to grow fastest from 2023 to 2032. Asia-Pacific was the fastest-growing region in the Caprylic/Capric Triglycerides market due to increasing urbanization rapidly expanding population, and rising disposable incomes, which led to higher consumption of these products in the region. Moreover, China’s Caprylic/Capric Triglycerides market held the largest market share, and the Indian Caprylic/Capric Triglycerides market was the fastest-growing market in the Asia-Pacific region.
Leading market competitors are investing heavily in R&D to expand their product lines, which will help the Caprylic/Capric Triglycerides market grow even more. Market players are also undertaking various strategic initiatives to expand their footprint, with developments including new product launches, M&A, contractual agreements, higher investments, and parynering with other players. To expand and survive in a more competitive market climate, the Caprylic/Capric Triglycerides industry must offer less costly items.
Manufacturing locally to lower operational costs is one of the key business strategy manufacturers use in the Caprylic/Capric Triglycerides industry to benefit clients and increase the market sector. In recent years, the Caprylic/Capric Triglycerides industry has offered some of the most significant advantages to the food industry. Major players in the Caprylic/Capric Triglycerides market, including Croda International plc (UK), Oleon NV (Belgium), Ecogreen Oleochemicals (Singapore)Peter Cremer North America (US), 101 Oleo GmbH (Germany), KLK Oleo (Malaysia), Oxiteno (Brazil), BERG SCHMIDT GmbH & CO. (Germany), Emery Oleochemicals (Malaysia), Sternchemie GmbH & Co KG (Germany) and Others are attempting to improve market demand by investing in R&D operations.
Croda International plc, headquartered in the UK, is a leading specialty chemicals company offering various ingredients for various industries, including personal care, health care, and consumer products. In the context of Caprylic/Capric Triglycerides, Croda is a key supplier and manufacturer of these specialty ingredients. Caprylic/Capric Triglycerides, derived from coconut and palm kernel oils, are widely used in personal care and cosmetics as emollients, solvents, and moisturizing agents. Croda's Caprylic/Capric Triglycerides portfolio includes high-quality, sustainable, and innovative formulations that cater to the increasing demand for natural and environmentally-friendly ingredients. With its extensive distribution network and strong research and development capabilities, Croda International plc continues to contribute significantly to the growth and advancement of the Caprylic/Capric Triglycerides market, meeting the diverse needs of its customers in the beauty and healthcare sectors worldwide.
Oleon NV, based in Belgium, is a renowned producer and supplier of oleochemicals and related specialty ingredients, including Caprylic/Capric Triglycerides. With a strong focus on sustainability and innovation, Oleon has established itself as a prominent player in the market for these versatile triglycerides. Caprylic/Capric Triglycerides, obtained from renewable sources like coconut and palm kernel oils, find extensive application in the personal care, cosmetics, and pharmaceutical industries. Oleon's business overview of Caprylic/Capric Triglycerides showcases its commitment to providing high-quality, bio-based solutions to customers worldwide. Leveraging their expertise in oleochemistry and efficient production capabilities, Oleon offers a diverse portfolio of Caprylic/Capric Triglycerides that meet the evolving demands of the market for natural and eco-friendly ingredients. Their customer-centric approach and dedication to sustainability have positioned Oleon as a key partner for businesses seeking reliable and innovative solutions in the Caprylic/Capric Triglycerides market.
Caprylic/Capric Triglycerides Industry Developments
June 2023: Croda International PLC announced a new technical center in Hyderabad, India. The recent expansion aims to concentrate on creating novel ingredients, generating application data, and offering training for both small molecule and biological applications. This strategic move will enable the company to deliver specialized solutions tailored to the pharmaceutical industry.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.85 Billion |
| Market Size 2024 | USD 0.90 Billion |
| Market Size 2032 | USD 1.36 Billion |
| Compound Annual Growth Rate (CAGR) | 5.27% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Landscape, Growth Factors, and Trends |
| Segments Covered | Application and Region |
| Geographies | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, UK, Italy, Spain, France, China, Japan, Australia, South Korea, India, and Brazil |
| Key Companies Profiled | Croda International plc (UK), Oleon NV (Belgium), Ecogreen Oleochemicals (Singapore)Peter Cremer North America (US) 101 Oleo GmbH (Germany),Oxiteno (Brazil), and BERG SCHMIDT GmbH & CO. (Germany), Emery Oleochemicals (Malaysia), and Sternchemie GmbH & Co KG (Germany) and Others |
| Key Market Opportunities | Effective absorption leads to increased usage of caprylic/capric triglycerides and natural ingredients |
| Key Market Dynamics | Availability of substitutes |
Caprylic/Capric Triglycerides Market Highlights:
Frequently Asked Questions (FAQ) :
The Caprylic/Capric Triglycerides market size was valued at USD 0.85 Billion in 2023.
The market is anticipated to grow at a compond annual growth rate of 5.27% during the forecast period, 2024-2032.
North America captured the largest share of the market
The major competitors in the market are Croda International plc (UK), Oleon NV (Belgium), Ecogreen Oleochemicals (Singapore), Peter Cremer North America (US) 101 Oleo GmbH (Germany), KLK Oleo (Malaysia), Oxiteno (Brazil), and BERG SCHMIDT GmbH & CO. (Germany), Emery Oleochemicals (Malaysia), and Sternchemie GmbH & Co KG (Germany) and Others.
The personal care application dominated the market in 2023.
The industrial application was growing at the fastest CAGR.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
