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Global Myristic Acid Market: By Source: Plant Based, Animal Based; By Application: Food Additive, Surfactant, Opacifying Agent, Emollient, Cleansing Agent, Emulsifier, Others; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Myristic Acid Market Outlook
The global myristic acid market is being driven by the growth of the natural fatty acid market. The natural fatty acid market is expected to grow at a CAGR of 5% in the forecast period of 2023-2028.
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Growing Demand for Myristic Acid from Major End Use Sectors to Augment the Market Growth
The growing utilisation of myristic acid as a flavouring agent and emulsifier in the food and beverage industry is significantly contributing to the industry growth. The growing demand for processed food products is further driving the demand for food additives, thus, boosting the demand for myristic acid. Further, its growing application as an emollient in the cosmetic industry to produce soaps, lotions, shaving creams, and others is also aiding the industry growth. The other industrial applications of the product include its use as an opacifying agent, surfactant, and cleansing agent.
Region-wise, Europe is expected to account for a significant share in the industry owing to the growing preference for natural ingredients in food and beverages, and cosmetic and personal care products. The growing demand for cruelty-free products in the region is expected to aid the growth of the regional industry.
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Myristic Acid: Market Segmentation
Myristic acid, also known as tetradecanoic acid, is a common saturated fatty acid with a 14-carbon backbone. It is represented by the formula CH3(CH2)12COOH, and the salts and esters of myristic acid are commonly referred to as myristates or tetradecanoates. It is naturally found in nutmeg, palm kernel oil, coconut oil, butterfat, and animal fats, among others.
The various sources of myristic acid are:
- Plant Based
- Animal Based
Based on application, the industry can be segmented into:
- Food Additive
- Surfactant
- Opacifying Agent
- Emollient
- Cleansing Agent
- Emulsifier
- Others
The various end use sectors of the product include:
- Food and Beverage
- Cosmetic and Personal Care
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand for Plant Based and Organic Products to Boost the Demand for Myristic Acid
The growing health awareness among consumers and increasing preference for products with natural ingredients are driving the growth of the myristic acid industry. The busy lifestyle and changing dietary habits have resulted in the increased consumption of processed foods while the growing focus on appearance and grooming is leading to the rise in sales of cosmetic and personal care products. The favourable properties of the product and its natural origin are driving the demand for myristic acid in food and cosmetic industries for various applications. Further, the growing demand for plant based and organic products is expected to drive the demand for organically sourced myristic acid. The escalating consumer disposable incomes and improving standards of living are further contributing to the industry growth. However, the excessive use of myristic acid is associated with various side effects, which may restrain the growth of the industry over the forecast period.
Key Industry Players in the Global Myristic Acid Market
The report gives a detailed analysis of the following key players in the global myristic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Axaria Europe S.L.
- Mosselman S.A.
- Godrej Industries
- Cremer Oleo GmbH & Co. KG
- Central Drug House (P) Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Application, End Use, Region |
| Breakup by Source | Plant Based, Animal Based |
| Breakup by Application | Food Additive, Surfactant, Opacifying Agent, Emollient, Cleansing Agent, Emulsifier, Others |
| Breakup by End Use | Food and Beverage, Cosmetic and Personal Care, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Axaria Europe S.L., Mosselman S.A., Godrej Industries, Cremer Oleo GmbH & Co. KG, Central Drug House (P) Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Myristic Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Myristic Acid Historical Market (2018-2022)
8.3 Global Myristic Acid Market Forecast (2023-2028)
8.4 Global Myristic Acid Market by Source
8.4.1 Plant Based
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Animal Based
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Myristic Acid Market by Application
8.5.1 Food Additive
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Surfactant
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Opacifying Agent
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Emollient
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Cleansing Agent
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Emulsifier
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global Myristic Acid Market by End Use
8.6.1 Food and Beverage
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Cosmetic and Personal Care
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Myristic Acid Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Axaria Europe S.L.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Mosselman S.A.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Godrej Industries
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Cremer Oleo GmbH & Co. KG
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Central Drug House (P) Ltd.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Myristic Acid Market: Key Industry Highlights, 2018 and 2028
2. Global Myristic Acid Historical Market: Breakup by Source (USD Billion), 2018-2022
3. Global Myristic Acid Market Forecast: Breakup by Source (USD Billion), 2023-2028
4. Global Myristic Acid Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Myristic Acid Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Myristic Acid Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. Global Myristic Acid Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. Global Myristic Acid Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Myristic Acid Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Myristic Acid Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Myristic Acid Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Myristic Acid Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Myristic Acid Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Myristic Acid Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Myristic Acid Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Myristic Acid Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Myristic Acid Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Myristic Acid Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Myristic Acid Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Myristic Acid Market Structure
Key Questions Answered in the Report
The global myristic acid market is projected to grow at a CAGR of 5% between 2021 and 2026.
The major drivers of the industry, such as rising disposable incomes, increasing population, growing utilisation of myristic acid as a flavouring agent and emulsifier in the food and beverages, rising demand for processed food products, increasing application of the product as an emollient in the cosmetic, busy lifestyles, changing dietary, rising preference for natural ingredients, and enhancing standards of living, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising demand for cruelty free products and increasing demand for plant based and organic products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading sources of myristic acid in the market are plant based and animal based.
The major application segments in the market are food additive, surfactant, opacifying agent, emollient, cleansing agent, and emulsifier, among others.
The significant end use sectors in the industry are food and beverage and cosmetic and personal care, among others.
The major players in the industry are Axaria Europe S.L., Mosselman S.A., Godrej Industries, Cremer Oleo GmbH & Co. KG, and Central Drug House (P) Ltd., among others.
Analyst Review
The global myristic acid market is being driven by the rising demand for natural ingredients and natural fatty acid. Aided by rising demand for organic cosmetics, the natural fatty acid market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on sources, the market is divided into plant based and animal based. By application, the market is segmented into food additive, surfactant, opacifying agent, emollient, cleansing agent, and emulsifier, among others. On the basis of end use, the market is divided into food and beverage and cosmetic and personal care, among others. The major regional markets for myristic acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Axaria Europe S.L., Mosselman S.A., Godrej Industries, Cremer Oleo GmbH & Co. KG, and Central Drug House (P) Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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