The market for caprylic capric triglycerides (CCT) is experiencing consistent growth, with an expected incremental opportunity exceeding US$700 million by the end of 2022. This translates to a projected demand surpassing US$1.23 billion by 2032, a significant increase from the US$650 million recorded in 2021. Throughout the forecast period of 2022 to 2032, sales of CCT are anticipated to rise at a steady compound annual growth rate (CAGR) of around 5% to 6%.
The caprylic capric triglyceride market is part of many skin care products like creams and makeup. It comes from coconut oil mixed with glycerin, making it an oily liquid often called fractionated coconut oil because they have the same INCI name.
The makeup business is growing really fast because people are becoming more aware of how to look good with grooming products. This makes the personal care and cosmetic market grow around the world.
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Caprylic capric triglyceride is an emollient, dispersing agent and solvent mainly used to soften and moisturize our skin. This oily substance makes cosmetic mixtures thicker while giving them a smooth feel that’s easy to spread on the surface.
Cosmetic manufacturer’s value this product due to its multi-functioning property and which boost the shelf life of beauty and personal care products, add a sheen to your skin that’s light and non-greasy and boosts the antioxidants. There are lot of alternatives available for Caprylic capric triglyceride in the market which are synthetic and derived from chemical and due to its natural property, it is gaining popularity in the market globally.
Market Dynamics
Natural and organic ingredients in the beauty and personal care products are mostly demanded by the consumers and caprylic capric triglyceride is a kind of the ingredient which helps in keeping the beauty products light, silky oil, feel that is not at all greasy/oily which is driving the growth of the ingredient in beauty and personal care products. Caprylic capric triglyceride is a popular product used as emollient in the skin care, hair care, makeup, bath and body care and fragrances.
There are few developing countries where there will be opportunities for caprylic capric triglycerides as an ingredients for final products and are forecasted to be the most promising regions as a result of rising disposable income, rapid urbanization, and growing population. Caprylic capric triglycerides market is expected to have a significant impact on the developing countries in terms of high revenue generation. There is a demand for these ingredients in baby care products due to its natural and organic properties. Manufacturers are looking for natural ingredients in their products rather than synthetic products due to increasing demand for natural and herbal skin care products in the market.
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Caprylic capric triglycerides has some of the restraints which may result in decrease in the demand for this ingredient. Gastric distress is one of the factor due to which caprylic capric triglycerides which can create troubles in the long term. A consumer who is allergic to coconut oil cannot use the product manufactured with caprylic capric triglycerides beacuse it contains some properties of coconut oil after the processing. MCT oil can also cause irritation to some of the consumers, which is a similar effect to consuming too much caffeine.
Regional Outlook
Malaysia is the origin country for caprylic capric triglyceride which is the main country from where the product is being extracted as by the botanical name of Cocos Nucifera. East Asia and Europe are the mature markets for cosmetics ingredients as there are lot of ingredient manufacturers as well as cosmetic manufacturers importing ingredients such as moisturizing, conditioning products.
Cosmetic ingredient market is growing in Europe region due to high demand for cosmetic and personal care products. Although Japan is experiencing a similar scenario as of Europe. South Asia market for caprylic capric triglyceride is forecasted to be the most demanding market and a trendsetter for new products. The caprylic capric triglyceride market in North America is estimated to exhibit growth with increasing awareness about the natural and organic ingredients in beauty and personal care products.
Key Players
Some of the major players in the caprylic capric triglyceride market ABITEC, Alzo International, American International Chemical, LLC., Charkit Chemical, Jarchem Industries, Kao Corporation , Lipo Chemicals, Lonza Group, Vigon International and Penta International among others. These key market players are estimated to enhance caprylic capric triglyceride market growth with innovative product formulations and its launch.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications. The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- Malaysia
- Thailand
- Vietnam
- Philippines
- Indonesia
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Market Segmentation
The caprylic capric triglyceride market is segmented into application, form, end use industry, source and geography.
Based on application
- Skin Care
- Hair Care
- Makeup
- Fragrances
- Bath and Body Care
- Food
- Medicines
Based on form
- Liquid
- Semi-solid
Based on source
- Coconut oil
- Palm oil
- Other sources
Based on end use industry
- Cosmetic and Personal Care Industry
- Pharmaceutical Industry
- Food and Beverage Industry
- Health and Wellness Industry
- Others
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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