These days, people are increasingly becoming conscious regarding their health and physical appearance. Due to increased social media penetration, the focus on aesthetic appearance has rise considerably. In addition to this, the disposable income of people across the globe has increased considerably since the past few years. Due to these factors, the demand for food products that are food for health and aid in weight loss is also on the rise. Moreover, the prevalence of chronic diseases, such as diabetes and heart problems, is also surging, which is further compelling people to opt for a healthier diet rather than foot products that lead to high cholesterol levels.
Owing to this, the demand for lauric acid, which is a saturated fat that is found in different vegetable fats, primarily palm kernel and coconut oils, is growing as well. It has been observed that lauric acid is directly transported to the liver, where is converts into energy and metabolites instead of being stored as fat. Lauric acid has been observed to contribute the lease to fat accumulation among all the saturated fatty acids. Attributed to these factors, the global lauric acid market is expected to witness considerable growth in the near future.
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Other than the food & beverages industry, lauric acid also finds applications in cosmetic & personal care industry and pharmaceutical industry. Among all these, the cosmetic & personal care industry is predicted to generate a considerable demand for lauric acid in the near future, which can majorly be because of the rising requirement for grooming products. Furthermore, due to the rising disposable income, people are able to spend more on personal care products frequently. In order to cater to the rising needs of people, personal care product companies are focusing on increasing their production capacity, which, in turn, is driving the demand for raw materials including emulsifiers.
Geographically, the Asia-Pacific region is predicted to emerge as a major lauric acid market in the coming years, which is particularly because of the growing urban population, changing standards of living, and increasing per capita income. In addition to this, the growth of the end-use industries, including plastics & polymers, pharmaceuticals, textile, food & beverages, and cosmetic & personal care, is also driving the demand for lauric acid in the region.