Sodium Caprylate Market - Regional Analysis
North American Market Insights
North America industry is estimated to hold largest revenue share of 40% by 2035, due to rising disposable income in the region.The market growth in the region is also expected on account of rising disposable income. As a result, more and more individuals in the region are spending money on beautifying themselves, which is fueling an increase in the sodium caprylate market.
Additionally, spending on health care increased by around 4% in the United States in 2022. This may create a higher demand for medication supplements containing sodium caprylate.
The animal feed business in Canada is expected to expand rapidly since it is an essential part of the nation's agricultural sector, supporting the sustainability and productivity of animals. As a consequence, the demand for sodium caprylate may substantially rise as it is added to the feed as a growth promoter and to control microbial contamination.
APAC Market Insights
The Asia Pacific region will also encounter massive growth for the sodium caprylate market through 2035 propelled by the increasing livestock farming in this region. Both for economic growth and the way of life of farmers in developing Asian nations, livestock is essential, leading to huge demand for sodium caprylate which acts as a preservative in feed and aids in enhancing animal performance.
Japan’s expanding online retail is driving optimistic growth in the Japanese market for beauty and personal care products, which is foreseen to fuel sodium caprylate market demand. The Japanese eCommerce market is predicted to grow by 6% in 2024, which will add to the 10% global growth rate that year.
China continues to outpace all other countries in its rapidly expanding chemical sector, which is currently the largest in the world.
Furthermore, more than 85% of the oil palm trees in the world are planted on a small number of Malaysian and Indonesian islands. Since sodium caprylate is a byproduct of palm oil therefore its demand may rise in the region.
