Lauric Acid Market size is anticipated to reach US$ 683.9 Million in 2032
Lauric Acid Market forecasted to registering 13.4% CAGR during the forecast period (2022-2032) and projected to reach US$ 683.9 Million by 2032. Lauric Acid is organic chemical compound belonging to the family of carboxylic acid. Lauric acid is also known as dodecanoic acid. Lauric acid white coloured powder in nature. Lauric acid is one of the versatile oleo chemicals. Lauric acid is found various plants and has a typically has bay oil like odor. Non-toxic nature of lauric acid makes it popular in the use wide range of applications. Also, the low price range of lauric acid makes it one of the prominent ingredients in the formulation of cosmetics and personal care products. In cosmetics & personal care products lauric acid is used as an emulsifier in the formulation of lotions and facial creams.
|Lauric Acid Market Estimated Base Year Value (2021)||US$ 150.6 Million|
|Lauric Acid Market Expected Market Value (2022)||US$ 165.1 Million|
|Lauric Acid Market Anticipated Forecast Value (2032)||US$ 683.9 Million|
|Lauric Acid Market Projected Growth Rate (2022-2032)||13.4% CAGR|
Lauric acid is also found in the personal care products such as shower gels, shampoos and body washes. Lauric acid is generally derived from palm oil or palm kernel oil. Lauric acid has also gained significant attraction from the soaps and detergents industry. It also certified as Generally Regarded as Safe (GRAS) product by the U.S. FDA organisation, owing to which lauric acid is also being used as an emulsifier and as an additive in food and beverage industry. Lauric acid is also being used as a lubricant as well as a processing agent in textile industry. Lauric acid is also used as a raw material and as an intermediate in the production of various chemicals.
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Lauric Acid Market: Dynamics
Increasing inclination towards the adoption of beauty care and grooming products by all demographics has spurred the consumption of cosmetics and personal care products in the globe. With the up surging demand for personal care and cosmetics products, the addressable production is expected to imbibe healthy proportion of lauric acid as a key emulsifier thus driving the growth of lauric acid market. Changing lifestyle has also shifted the consumer preferences towards processed food. Growing food & beverage industry is expected to positively influence the growth lauric acid market.
Polymers & plastics are preliminary aspects of this modern industrial world, owing to which rising demand for plastics & polymers is anticipated to positively impact the lauric acid market. Growing population has flourished the growth of textile industry, growing textile industry will boost the demand for lauric acid market. Applications in pharmaceutical industry is also estimated to augment the demand for lauric acid.
Lauric Acid Market: Regional Outlook
Asia Pacific is estimated to be the prominent market for lauric acid, increasing disposable income, growth in urban population, changing standard living coupled with the growth of industries such as cosmetics & personal, pharmaceuticals, food & beverages, textile and plastics & polymers is anticipated to make Asia Pacific rapidly growing market. Increased awareness towards adoption of certified raw materials in the formulation of cosmetics & personal care products, pharmaceuticals and in the manufacturing of food & beverages, owing to which regions such Europe & North America are expected to be potential market for lauric acid. Latin America and the Middle East & Africa are expected to show positive economic growth in forthcoming period and thus fuelling the demand for lauric acid is anticipated to rise in the forthcoming period.
Lauric Acid Market: Key Participants
Acme-Hardesty, Cailà & Parés, KLK OLEO, Wilmar International Ltd., IOI Oleo GmbH, Musim Mas Holdings Pte. Ltd, Oleon, Kao Corporation, Godrej Industries, Pacific Oleochemicals, VVF LLC, Timur OleoChemicals, PT.Cisadane Raya, Bakrie Group, AAK AB, Permata Hijau and Emery Oleochemicals among others.
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The Lauric acid market research report presents a comprehensive assessment of the Lauric acid 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 Lauric acid market research report provides analysis and information according to Lauric acid market segments such as geographies, application and industry.
Lauric Acid Market: Segmentation
The global lauric acid market can be segmented on the basis of purity, applications and end-use.
The global lauric acid market is segmented on the basis of purity:
- Low Purity (<70%)
- Medium Purity (70-85%)
- High Purity (85-98%)
- Ultra High Purity (98-99%)
The global lauric acid market is segmented on the basis of its application:
- Chemical Intermediate
The global lauric acid market is segmented on the basis of end-use:
- Plastics & Polymers
- Food & Beverage
- Cosmetics & Personal Care
- Soaps & Detergents
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa