Myristic Acid is a typical normal organic saturated fatty acid that is discovered in animals and plants sources, for example, coconut oil, nutmeg, palm oil, spermacetin(the oil got from the sperm whale), and butterfat. It is turned out to be especially viable in assisting with fat digestion and weight reduction alongside enhancing nerve and brain quality. It likewise aids in anti-aging and could be utilized for the supplementation procedure. It is utilized for making fragrances, flavors, soaps and beauty care products.
In terms of the source, the overall market is categorized into animal-based products and plant-based products (includes palm oil, coconut oil, and nutmeg butter) The animal-based products can be further sub-segmented into (includes animal fats like meat, fish, eggs, crustaceans, shellfish, and others and sperm whale oil). Of these, the plant-based products are majorly utilized since the nutmeg butter is one of the richest sources. Based on end-use industry, the overall market is categorized into industrial applications, cosmetic and food, and beverage.
Interest for flavors in convenience food has developed quickly and keeps on expanding at a huge rate. In emerged markets, inclination for enhanced flavored foods and drinks is expanding, prompting higher interest for exotic, ethnic and spicy flavorings. The expansion of exotic and spicy flavors to existing product offerings keeps on being one of the improvements embraced by worldwide makers to draw in buyers' attention in more developed markets around the world. Developing predominance for flavored food and drinks has prompted the amalgamation of different flavor profiles. Likewise increasing interest for flavored beverages in the North America and Europe region is anticipated to generate essential prospects for players in the worldwide myristic acid market. Participants working in the myristic acid market are considered to use this prospect amid the figured time frame. The food & beverage organizations are exceedingly concentrating on the research & development exercises to improve the multifunctional and dietary profile of myristic acid that offers high medical advantages.
Apart from all the advantages and customer demand for myristic acid, it, in addition, has side effects if utilized overly. It can direct towards skin & eye irritations together with toxicant consequences in the human body. These indicators are impeding the myristic acid market because of the increase of customer awareness for healthy food.
As a result of the advantages of myristic acid, a number of players and producers in the market are shifting towards manufacturing and supplying it. A few of the foremost players are H Foster & Co Ltd., Axaria Europe S.L., Natural Health Enterprises, MONACHEM, VVF L.L.C., Pacific Oleochemicals Sdn Bhd., Sigma-Aldrich Co. LLC., Paras Polymer & Chemicals, and others.