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The global capric triglyceride market is primarily driven by the increase in demand for capric triglycerides in cosmetics and personal care products. Capric triglyceride-based cosmetic products are compatible with all skin types, exhibit excellent skin smoothing properties, and are used to promote skin penetration. Rise in usage of capric triglycerides in personal and cosmetics products due to their high skin absorption rate is anticipated to drive the global capric triglyceride market. Capric triglyceride is primarily used as energy booster in endurance sports and medicinal foods. It is also used as inert carrier of flavor, oil soluble food colorants, fat soluble vitamins, and fat soluble additives. Rise in demand for capric triglyceride in the food & beverages industry is projected to boost the global capric triglyceride market. Capric triglyceride also act as carrier or suspension medium for oil soluble antibiotics and drugs. This is propelling the demand for capric triglyceride in the pharmaceutical industry.
Based on function, the global capric triglyceride market can be segmented into dispersing agents, solubilizers, solvents, spreading agents, and others. The solvents segment held key share of the global capric triglyceride market in 2017. Capric triglyceride acts as a carrier of fat-soluble vitamins and actives. It is primarily employed as solvent for soluble actives and UV filters.
Based on end-use industry, the global capric triglyceride market can be segregated into food & beverages, personal care & cosmetics, pharmaceuticals, process industries, and others. The personal care & cosmetics segment accounted for major share of the global capric triglyceride market in 2017. Capric triglyceride is widely used in personal care & cosmetics industry in bath, shower & soaps, antiperspirants & deodorants, body care, eye contour care, face color, facial cleansers, hair color, lip care, nail care & color, shampoos, shaving/hair removal, and sun protection products.
In terms of region, the global capric triglyceride market can be split into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific held major share of the global capric triglyceride market in 2017. Easy availability of raw materials at competitive prices is anticipated to augment the demand for capric triglyceride in the region. China and India are leading consumers of capric triglyceride owing to the expansion of the personal care & cosmetic industry in these countries. North America and Europe also constituted significant share of the global capric triglyceride market in 2017, led by the increase in demand for capric triglyceride in the pharmaceutical industry in these regions.
Key players operating in the global capric triglyceride market include BERG + SCHMIDT GmbH & CO., Croda International plc, Ecogreen Oleochemicals, IOI Oleo GmbH, KLK Oleo, Oleon NV, Oxiteno, Peter Cremer North America, Revada Group of Companies, and Univar.
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