| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.38 Billion |
| Market Size (2029) | USD 1.98 Billion |
| CAGR (2024 - 2029) | 7.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Caprylic/Capric Triglycerides Market Analysis
The Caprylic/Capric Triglycerides Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 1.98 billion by 2029, growing at a CAGR of 7.35% during the forecast period (2024-2029).
The COVID-19 pandemic had a negative impact on the caprylic/capric triglycerides sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
- Over the short term, rise in adoption in cosmetics and personal care sector and increase in demand from emerging economiesare are some of the factors driving the growth of the market studied.
- On the flip side, side effects associated with the use of caprylic/capric triglycerides and high cost of caprylic capric triglyceride and availability of low-cost substitutes are some of the factors restraining the growth of the market.
- Furthermore, increasing demand for products derived from natural ingredients is likely to act as a growth opportunity for the market studied.
- Asia-Pacific is expected to dominate the global caprylic/capric triglycerides market during the forecast period.
Caprylic/Capric Triglycerides Market Trends
Cosmetics and Personal Care Sector to Dominate the Market
- Caprylic triglycerides is an oily liquid, typically produced by combining coconut oil with glycerine. This ingredient is sometimes called capric triglycerid and also known as fractionated coconut oil. It assists in smoothening the skin and also works as an antioxidant.
- Caprylic triglycerides are compounds made of naturally occurring fatty acids. The high-fat substance in them alongside their surface and antioxidant agent characteristics, make them of specific use for cleanser and skincare items.
- Caprylic triglycerides are added to cosmetics the products in order to extend the shelf life of their active ingredients as they operate as a preservative by binding other chemicals.
- Germany is the largest cosmetic market in Europe, followed by France and the United Kingdom. For instance, according to IKW, the German Cosmetic, Toiletry, Perfumery and Detergent Association, in 2022, the market value of beauty and personal care in Germany is estimated to be EUR 14,333 million (USD 15,104.115 million) , which shows an increase of 5.36% compared to 2021. Therefore, an increase in the market value of beauty and personal care products in the country is expected to create an upside demand for the caprylic/capric triglycerides in the country.
- The market for men's skincare is expanding as a result of rising disposable income, celebrity endorsements, and increased product launches among men who are becoming more conscious of their personal hygiene. Men's preferences for skincare products are expanding beyond those for traditional grooming. For instance, according to L'Oréal - Universal Registration Document 2022, in 2022, skincare products made up 41% of the global cosmetic market.
- Therefore, the aforementioned factors are expected to show a significant impact on the caprylic/capric triglycerides market in the coming years.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is dominating the global caprylic/capric triglycerides market. In the region, China is the largest economy in terms of GDP. China and India are among the fastest-emerging economies in the world.
- According to the National Bureau of Statistics of China, in January 2022, the retail trade revenue of cosmetics in China amounted to about USD 9.18 billion and reached about USD 9.76 billion in January 2023. As the demand for cosmetic products expands further in second-and third-tier cities of China, the caprylic/capric triglycerides market is expected to maintain its growth momentum in the near future. In addition, the changing attitude among men toward skin care fosters the booming of the men's cosmetics market in China.
- According to the India Brand Equity Foundation, India's domestic pharmaceutical market is likely to reach USD 65 billion by 2024 and further expand to reach USD 120-130 billion by 2030. Moreover, in the global pharmaceuticals sector, India is a significant and rising country. For instance, according to IBEF, India is the 12th largest exporter of medical goods in the world. Indian drugs are exported to more than 200 countries in the world, with the United States being the key market. Generic drugs account for 20% of the global export in terms of volume, making the country the largest provider of generic medicines globally. Indian drug and pharmaceutical exports stood at USD 24.60 billion in FY22 and USD 24.44 billion in FY21. Indian drug and pharmaceutical exports stood at USD 2,196.32 million in September 2022. Therefore, increasing in the exports of pharmaceutical products from the country is expected to create an upside for caprylic/capric triglycerides market.
- Moreover, according to L'Oréal - Universal Registration Document 2022, the Asia Pacific accounts for over 42% of the global cosmetics market in the year 2022, which is expected to boost caprylic/capric triglycerides market.
- Therefore, the aforementioned factors are expected to show significant impact on the caprylic/capric triglycerides market in the coming years.
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Caprylic/Capric Triglycerides Industry Overview
The Caprylic/Capric Triglycerides Market is consolidated in nature. The major players in this market (not in a particular order) include Croda International Plc, Oleon NV, Oxiteno, KLK OLEO, and IOI Oleo GmbH, among others.
Caprylic/Capric Triglycerides Market Leaders
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Croda International Plc
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Oleon NV
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KLK OLEO
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IOI Oleo GmbH
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Oxiteno
- *Disclaimer: Major Players sorted in no particular order
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Caprylic/Capric Triglycerides Market News
The recent developments pertaining to the major players in the market are being covered in the complete study
Caprylic/Capric Triglycerides Industry Segmentation
Caprylic/capric triglyceride is a compound that is formulated using fatty acids and natural oil such as coconut oil and glycerin. It can be used as an antioxidant, solvent, dispersing agent, and emollient in various cosmetics and personal care products. The caprylic/capric triglycerides market is segmented by end-user industry and geography. By end-user industry, the market is segmented into cosmetics and personal care, food and beverages, pharmaceuticals, and other end-user industries. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD) for all the above segments.
| End-User Industry | Cosmetics and Personal Care | |
| Food and Beverages | ||
| Pharmaceuticals | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
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Caprylic/Capric Triglycerides Market Research FAQs
How big is the Caprylic/Capric Triglycerides Market?
The Caprylic/Capric Triglycerides Market size is expected to reach USD 1.38 billion in 2024 and grow at a CAGR of 7.35% to reach USD 1.98 billion by 2029.
What is the current Caprylic/Capric Triglycerides Market size?
In 2024, the Caprylic/Capric Triglycerides Market size is expected to reach USD 1.38 billion.
Who are the key players in Caprylic/Capric Triglycerides Market?
Croda International Plc , Oleon NV, KLK OLEO, IOI Oleo GmbH and Oxiteno are the major companies operating in the Caprylic/Capric Triglycerides Market.
Which is the fastest growing region in Caprylic/Capric Triglycerides Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Caprylic/Capric Triglycerides Market?
In 2024, the Asia Pacific accounts for the largest market share in Caprylic/Capric Triglycerides Market.
What years does this Caprylic/Capric Triglycerides Market cover, and what was the market size in 2023?
In 2023, the Caprylic/Capric Triglycerides Market size was estimated at USD 1.29 billion. The report covers the Caprylic/Capric Triglycerides Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Caprylic/Capric Triglycerides Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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Caprylic/Capric Triglycerides Industry Report
Statistics for the 2024 Caprylic/Capric Triglycerides market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Caprylic/Capric Triglycerides analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
