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Caprylic/Capric Triglyceride Market Outlook – 2030
The Caprylic/Capric Triglyceride is a compound formed as a result of combining fatty acids derived from natural oils, such as coconut oil, with glycerin. It is typically used as an ingredient for skin care products, like soaps and cosmetics, because it works as an antioxidant and helps to make skin smooth. It is a clear, colorless and odorless liquid and a natural substitute for the synthetic chemicals found in the many skin products. Thus, it can be found in the products like moisturizing face creams, anti-aging serums, sunscreens, lipstick, eye liner, lip balm, perfumes and several other products. Apart from the personal care, they can also be used in food & beverages, pharmaceutical, and other industries.
Market Scope and Structure Analysis
Due to rise in the use of personal care products, coupled with growing demand of caprylic triglycerides in the food & beverages as well as dietary supplements has shown great prospects for the caprylic triglyceride market to flourish.
COVID-19 Impact analysis
The COVID-19 pandemic had a negative impact on the caprylic triglyceride market. Since, personal care and cosmetics market holds the largest application of caprylic triglyceride, and due to the lockdowns imposed to prevent community spread of COVID 19 pandemic, the sales and revenue of the personal care and cosmetics market took a severe hit. The lockdowns, travel bans, production halts, trade restrictions and negative impact of COVID 19 on the financial health of both industry and individuals led to the decline in demand of caprylic triglyceride in the cosmetic, personal care, food & beverages and other industrial applications. However, the application of caprylic triglyceride in pharmaceutical applications like dietary supplements rose moderately. Altogether, the caprylic triglyceride market witnessed a slump due to the COVID-19 pandemic but is still anticipated to flourish in the post pandemic forecast period.
Top Impacting Factors
Market Trends
Key Benefits of the Report
Questions answered in the Caprylic/Capric Triglyceride Report
Caprylic/Capric Triglyceride Market Report Highlights
Aspects | Details |
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By Application |
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By Region |
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Key Market Players | Peter Cremer North America, Univar., Croda International Plc., Revada Group of Companies, Ecogreen Oleochemicals, Oleon NV, BERG + SCHMIDT GmbH & Co., IOI Oleo GmbH, KLK Oleo Oxiteno |
Others |
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