The increasing usage of beauty and grooming products among consumers is prominent driver of the global lauric acid market
Covid-19 Impact & Market Status
COVID-19 directly impacted production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets.
The research makes a spectacular endeavour to disclose important opportunities available in the global Lauric Acid market to help players achieve a strong market position, with industry-standard precision in analysis and excellent data integrity. The report's buyers will have access to validated and trustworthy market projections, including those for the global Lauric Acid market's overall size in terms of revenue and volume. The influence of Coronavirus COVID-19 on the Lauric Acid 3900 industry is also examined in this paper.
The Global Lauric Acid Market study provides a comprehensive analysis of the market. The research includes several sectors as well as an analysis of the market's major trends and determinants. These market dynamics elements include the drivers, restraints, opportunities, and challenges, as well as the impact of these factors on the market. The market's inherent elements are the drivers and restrictions, while the market's extrinsic aspects are the opportunities and challenges. The Global Lauric Acid Industry report forecasts the growth of the market in terms of revenue throughout the forecast period.
APAC Continued to Rally An Upward Growth Trend
The global lauric acid market is into major geographic regions such Middle East and Africa, Asia-Pacific, Latin America, Europe, and North America. APAC is the most dominant region in global lauric acid market owing to factors such as changing standards of living, growth in cosmetic and personal care industry, and booming activities in food and beverage, textile, pharmaceutical and other industries.
Cosmetics and Personal Care Sector Are Poised for Rapid Market Progress
Cosmetics and personal care, food and drinks, medicines, and other applications make up the market. Due to rising demand for grooming products, the cosmetic & personal care sector has a significant proportion of the lauric acid market. Furthermore, as disposable income rises, consumers are able to buy personal care goods on a more regular basis.
One of the primary factors driving the lauric acid market is its use in numerous industries such as food and beverage, textiles, and pharmaceuticals. Consumer tastes for processed foods have altered as a result of changing lifestyles, which has a favourable impact on the lauric acid market because lauric acid is widely utilised in the food and beverage industry. Growing population has boosted the textile industry's growth, which in turn has increased demand for lauric acid. Furthermore, as consumer awareness of health and well-being grows, so does the demand for lauric acid in pharmaceutical and personal care products.
The market size of global lauric acid industry is estimated to reach close to 45.3 Bn by 2029 with an annualized growth rate of XXX% through the forecast period 2022-2029.
Lauric fatty acids are used in a variety of industries, including food and cosmetics. Because of its moisturising properties, it has been widely employed in the preparation of fat-based formulations. Because of its antimicrobial characteristics, it is also utilised in anti-microbial consumer items such as soaps and detergents. In addition, when coupled with other anionic compounds, lauric acid can be used to make surfactants or emulsifiers since it has an excellent cleansing effect and foamability. Furthermore, lauric acid derivatives have a variety of other applications, including use as an antifungal agent and a bactericide in water purification plants for cooling towers and swimming pools. The lauric acid market has grown as a result of its diverse range of uses.
Companies are boosting their production capacity to meet rising demand for personal care products, which drives up demand for raw materials like emulsifier. Lauric acid is a low-cost, non-toxic emulsifier with a long shelf life that is used to make soap, detergent, and other personal care products. The United States Food and Drug Administration (US FDA) has classified lauric acid as "Generally Regarded as Safe" (GRAS) for cosmetic use.
Lauric acid, also called dodecanoic acid, is present in coconut and palm oils, as well as milk. It's a white, powdery material with a bay oil or soap-like odour. Because of its 12-carbon atom chain, it is classified as a medium chain saturated fatty acid. It is less expensive than other fatty acids and retains its potency for a longer period of time, resulting in a longer shelf life. The lauric acid market is divided into two categories: application and geography.
Lauric fatty acids of cosmetic grade are utilised in the creation of skincare, haircare, and cosmetics. Because lauric acid is produced naturally in human breast milk, it can be administered to the skin without causing any harm or negative effects.
The strict regulation on the manufacturing of lauric acid, which is directly utilised in the formulation of cosmetics and personal care items, pharmaceuticals, food and drinks limits the market growth. This is the key factor that is impeding the growth of the lauric acid market.
Furthermore, surge in demand for personal care products, growing awareness about animal health resulting in rising demand for additives, product innovation is anticipated to be a growth opportunity to the global lauric acid market.
The major players in global lauric acid market are Tokyo Chemical Industry, Godrej Industries, Kao Corporation, Oleon, Musim Mas Holdings, IOI Oleo GmbH, Wilmar International, KLK OLEO, Cailà & Parés, and VVF LLC among others.
Major Developments and Innovation in Lauric Acid Market: A Snapshot
- Recently, Xinri Hengli announced that the 50,000-ton-per-year lauric acid project built by the company's holding subsidiary Ningxia Hengli Bio-New Materials Co., Ltd. had completed the main construction, equipment installation, and commissioning work, with the first batch of commissioning completed. The device is working properly, the process route has been opened, the product quality has been certified, and the lauric acid project has entered the trial production stage.
- According to Xinri Hengli, the lauric acid project will take some time to transition from trial to large-scale production and release capacity, and there may be risks in the future, such as fluctuations in raw material and product prices and insufficient capacity utilisation, which will affect business performance in 2021.
Lauric Fatty Acids Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 45.3 billion.|
|Segment Covered||Product Type, End user, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Tokyo Chemical Industry, Godrej Industries, Kao Corporation, Oleon, Musim Mas Holdings, IOI Oleo GmbH, Wilmar International, KLK OLEO & among others.|
Key Segments of the Global Lauric Acid Market
Product Type Overview, 2019-2022 (USD Billion)
- Industrial Grade
- Cosmetic Grade
End User Overview, 2019-2022 (USD Billion)
- Agricultural Chemicals
- Cosmetic Industry
- Food Industry
Regional Overview, 2019-2022 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa