Palmitic Acid is a saturated fatty acid found mainly in animal fats and oils derived from plants. It is also found in a variety of foods including dairy products, cocoa butter, and coconut oil. As a major component of the fat found in the human body, it plays an important role in the body’s metabolism. In addition to its metabolic role, palmitic acid has potential health benefits, including possible anticancer properties.
Palmitic acid is used primarily in the food industry as an emulsifying or stabilizing agent, as well as in the cosmetics and personal care products industries. It is also used in the production of surfactants, lubricants, resins, waxes, and plasticizers.
The global market for Palmitic Acid is expected to grow significantly due to its increasing use in food, cosmetics, and personal care products. Reports suggest that the market will experience moderate growth in the next few years and is projected to reach USD 1.8 billion by 2022, at a CAGR of nearly 6% from 2017 to 2022. Growth in the market is expected to be driven by increasing demand for emulsifiers, stabilizers, and other food additives. Moreover, the increasing online and offline sale of personal care products is also likely to drive the market for Palmitic Acid in the coming years.
The global Palmitic Acid market was valued at US$ 243 million in 2022 and is anticipated to reach US$ 287.5 million by 2029, witnessing a CAGR of 2.4% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Palmitic Acid Market available at: https://www.themarketreports.com/report/global-palmitic-acid-market-research-report
This report aims to provide a comprehensive presentation of the global market for Palmitic Acid, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Palmitic Acid.
Global Palmitic Acid key players include Wilmar International, KLK Oleo, IOI Oleochemical, PT Sumi Asih Oleochemical, PT.Cisadane Raya Chemicals, etc. Global top five manufacturers hold a share about 60%. Southeast Asia is the largest market, with a share about 60%, followed by China, with a share about 25 percent. In terms of product, Fractionated Type is the largest segment, with a share about 75%. And in terms of application, the largest application is Soap & Detergent, followed by Cosmetics, Grease & Lubricant, etc.
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