The global lauric acid market was worth US$ 165.1 Million in the year 2022 and is expected to reach US$ 683.9 Million at a CAGR of 13.4% between 2022 and 2032.
Lauric acid comes across as a saturated fatty acid that occurs in several vegetable fats like coconut oil and palm kernel. It’s a white, powdery solid smelling like bay oil or soap. It generally falls in the category of medium-chain fatty acids and is inclusive of a 12-carbon atom chain. Lauric acid, in comparison with fatty acids that are commonly available, is cost-effective and makes way for a longer shelf life as far as end-products are concerned.
Skincare and hair care products are being increasingly used these days in the wake of rising awareness regarding the same. On top of that, the US FDA has listed this product under the GRAS (Generally Regarded as Safe) tag for personal care and cosmetics applications. Furthermore, higher demand for shower gels, shampoos, facial cleansers, and body washes is there to boost the demand for lauric acid. Along these lines, Wipro Consumer Care and Lighting, in July 2021, came up with a novel series of shower gels. The brands include Yardley, Santoor, Hygienix, and Aramusk.
At the same time, the fact that various home remedies are being adopted including curd, Indian soapberry, egg yolk, and Indian gooseberry for cleansing the hair. These factors are expected to restrain the lauric acid market in the near future.
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Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Lauric Acid Market’. It has a team of analysts and consultants for executing through bottom-up approach in its primary, secondary, and tertiary modes of research throughout.
“With demand for organic personal care products on the rise, the global lauric acid market is expected to grow on a splendid note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from the Lauric Acid Market
- North America holds the largest market share with an ever-increasing demand for detergents and soaps all across Canada and the US. Plus, there is a growing awareness amongst consumers with regard to hygiene. Automatic washing machines are there to add to the demand.
- Europe and the Asia-Pacific are at the matured stage of the lauric acid market and the scenario is expected to remain unchanged even going forward. Japan, Thailand, China, and South Korea lead from the front, especially regarding the infusion of lauric acid in shampoos.
Competitive Analysis
- Godrej Industries Ltd. is known for producing lauric acid that has small white free-flowing flakes/prills.
- Wilmar International has its lauric acid termed as ‘WILFARIN LA – 1299 derived from Palm Kernel Oil and Palm Oil. As per the requirements of customers, they are made available as purer fatty acids or broad cuts by fractional or simple distillation.
- Cosmos & Harmony, in June 2022, announced plans to enter the market of the US by tabling its premium natural personal care products.
Some of the renowned companies present in the global lauric acid market include Kao Corporation, Bakrie Group, KLK OLEO, Permata Hijau, Acme-Hardesty, Emery Oleochemicals, IOI Oleo GmbH, Godrej Industries, AAK AB, Cailà & Parés, PT. Cisadane Raya, Wilmar International Ltd., VVF LLC, Musim Mas Holdings Pte. Ltd., Timur OleoChemicals, Oleon, and Pacific Oleochemicals among others.
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What does the Report say?
- The research study is based on purity (low purity (<70%), medium purity (70-85%), high purity (85-98%), and ultra high purity (98-99%)), by application (emulsifier, additive, chemical intermediate, lubricant, and surfactant), and by end-use (plastics & polymers, food & beverage, textiles, cosmetics & personal care, soaps & detergents, and pharmaceuticals).
- With the growing popularity of lauric acid in skin care, the global lauric acid market is bound to grow on a good note in the forecast period.
Key Segments Profiled in the Lauric Acid Industry Survey
By Purity:
- Low Purity (<70%)
- Medium Purity (70-85%)
- High Purity (85-98%)
- Ultra High Purity (98-99%)
By Application:
- Emulsifier
- Additive
- Chemical Intermediate
- Lubricant
- Surfactant
By End Use:
- Plastics & Polymers
- Food & Beverage
- Textiles
- Cosmetics & Personal Care
- Soaps & Detergents
- Pharmaceuticals
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
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