Sodium Caprylate Market Trends

Growth Drivers

• Rising rate of blood transfusion - This has increased the need for several blood products including plasma, and albumin which necessitates the usage of sodium caprylate since it is essential in the stabilization, and purification of these products.
  
  As per the World Health Organization (WHO), when it comes to blood transfusions, children under the age of five receive up to 54% of them in low-income nations, while adults over 60 receive up to 76% of all transfusions in high-income countries.
• Growing usage of pesticides - Sodium caprylate is widely employed as a pesticide to control several plant pathogens which aids in improving plant health and increasing overall agricultural output.
  
  For instance, the number of agricultural insecticides used worldwide rose by more than 90% between 1990 and 2021.
• Expanding textile industry - The majority of sodium caprylate gives fibers more tensile strength while reducing the risk of fabric degradation caused by microbial growth.
  
  It is anticipated that the global textile market would expand by around 1% between 2024 and 2029.

 Challenges

• Supply chain disruptions - Sodium caprylate is derived from caprylic acid which occurs naturally in coconut oil, palm oil, human and some animal milk, and other foods, the prices of which are affected by demand growth, trade disruptions, supply limitations, and currency changes.
  
  Since palm oil is the most traded oil internationally, its price is influenced by other vegetable oil prices as well, which also causes variations in the cost of caprylic acid.
• Presence of alternatives- There are several alternatives to sodium caprylate such as sodium benzoate, and potassium sorbate which offer similar benefits and are cost-effective.