The Glyceryl Caprylate Market is projected to reach a valuation of US$ 2.4 Billion in 2032, likely to surge at a vigorous 6% CAGR from 2022 – 2032.
The growing cosmetics and personal care industry and awareness among the population for personal hygiene are driving the market for glyceryl caprylate globally. Glyceryl caprylate is a co-emulsifier primarily used for stabilizing the oil-in-water emulsions. It is derived from various vegetable oils.
Palm oil and coconut oil are commonly used resources for obtaining glyceryl caprylate. The fundamental concept of using glyceryl caprylate in cosmetics is its properties that enhances the human skin features such as regulating the skin moisture, maintaining the skin oils, and humidifying the skin. Glyceryl caprylate also acts as a solubilizer for synthetic materials and viscous modifier for flavors and fragrances.
There is a trend for multi-functional end products offering several benefits in one product. This trend has propelled the glyceryl caprylate market as it not only enhances the anti-microbial effect but also provides the necessary conditioning.
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Glyceryl caprylate replaces many conventional thickeners and conditioners such as PQ7, guar gum, Q10, and PEG thickeners. The compatibility of glyceryl caprylate with organic ingredients enhances the market growth as demand for natural products is increasing steadily.
The market of glyceryl caprylate is estimated to grow globally with the strong presence of many domestic and international cosmetic products manufacturing brands. The increased demand for organic cosmetic and personal hygiene products is an add-on factor fueling the growth of glyceryl caprylate market.
Glyceryl Caprylate Market: Market Dynamics
The current century people are more aware of their looks and appearances. And the global population has an immense interest in gaining knowledge about the ingredients in the products and their effect on their skin. The functions of glyceryl caprylate such as a surfactant, and skin conditioning agent drives the demand from the market following the factors as mentioned above.
Other significant factors propelling the glyceryl caprylate market are a surge in cosmetics and personal care industry, and developments of new cosmetics, personal care, and fragrance products. Moreover, increased awareness among the population for personal care, urbanization, changing the retailing sector, and e-commerce is some of the more factors fuelling the growth of the market.
The developing countries are forecasted to be the most promising regions in terms of lucrative opportunities as a result of rapid urbanization, rising disposable income of the population, and growing population. Glyceryl caprylate market is expected to have a significant impact on the developing countries in terms of high revenue generation.
Glyceryl caprylate has a natural origin and is safe for baby care products also, thus, creating new opportunities. The market players are now developing products for baby care range with glyceryl caprylate as one of the ingredients.
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Glyceryl Caprylate Market: Regional Outlook
North America, Japan, and Europe are the mature markets for glyceryl caprylate and have a prominent market share for products containing glyceryl caprylate. As Europe has a more aging population, more anti-aging skin products are being sold.
Thus, the glyceryl caprylate market growth is high. Although Japan is experiencing a similar scenario as of Europe, China has more youth population. The glyceryl caprylate market growth in East Asia is estimated to be high in a specific country while slow in another country.
Also, North America has a growing aged population. Thus, the glyceryl caprylate market is eventually growing in the region. South Asia market for glyceryl caprylate is forecasted to be the most emerging market and a trendsetter for new products.
The Middle East and Africa (MEA) are anticipated to propel the glyceryl caprylate market with the development of products containing glyceryl caprylate market. The glyceryl caprylate market in Latin America is estimated to exhibit exceptional growth with increased awareness among the population for personal care.
Glyceryl Caprylate Market: Key Players
Some of the major players in the Glyceryl Caprylate market SkinChakra, Parchem fine & specialty chemicals, Stepan Company, ABITEC, BOC Sciences, Kao Corporation, Kingyoung Bio Technical Co., Ltd., Tokyo Chemical Industry Co., Ltd. (TCI), INOLEX Inc., Subhash Chemical Industries Pvt Ltd., Universal Preserv-A-Chem Inc. [UPI], SpecialChem, Evonik Industries, and among others. These key market players are estimated to enhance glyceryl caprylate market growth with innovative product formulations and the new product launch.
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