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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

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 2024-2032.

Global Myristic Acid Market Report Summary Description Value
Base Year USD Million 2023
Historical period USD Million 2018-2023
Forecast Period USD Million 2024-2032
Market Size 2023 USD Million XX
Market Size 2032 USD Million XX
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 5.0%
CAGR 2024-2032 - Market by Region Asia Pacific 6.1%
CAGR 2024-2032 - Market by Country India 6.2%
CAGR 2024-2032 - Market by Country China 5.8%
CAGR 2024-2032 - Market by Source Plant Based 5.6%
CAGR 2024-2032 - Market by End Use Food and Beverage 5.2%
Market Share by Country 2023 UK 5.5%

Myristic Acid Market

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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.

CAGR 2024-2032 - Market by Region
Asia Pacific 6.1%
North America 4.7%
Europe XX%
Latin America XX%
Middle East and Africa XX%

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.

Myristic Acid Market by Application

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CAGR 2024-2032 - Market by Country
India 6.2%
China 5.8%
USA 4.6%
Germany 4.2%
Australia 4.0%
Canada XX%
UK XX%
France XX%
Italy 3.9%
Japan XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

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.

CAGR 2024-2032 - Market by Source
Plant Based 5.6%
Animal Based XX%

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
CAGR 2024-2032 - Market by End Use
Food and Beverage 5.2%
Cosmetic and Personal Care XX%
Others XX%

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.

Myristic Acid Market by Region

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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.

2023 Market Share by Country
UK 5.5%
USA XX%
Canada XX%

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.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global myristic acid market is projected to grow at a CAGR of 5% between 2024 and 2032.

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.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124