Medium Chain Triglycerides Market Research, 2031
The global medium chain triglycerides market was valued at $1.6 billion in 2021, and is projected to reach $3 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031. MCTs (medium chain triglycerides) are fats synthesized in a laboratory from coconut and palm kernel oils. Long-chain triglycerides are the common name for dietary fats. MCTs are a good source of fat for people who can't eat other types of fat.
The industry for medium chain triglycerides is being driven by accumulated demand from the food and beverage industry in developing countries, as well as rising demand for the medium chain triglycerides such as capric acid. Increased demand for medium-chain triglycerides, which include food, medical, and other goods, is primarily due to increased demand from the end-use industry. The availability of a new raw material source is expected to have a significant impact on the industry's growth. Furthermore, the rapidly growing personal care market is expected to drive demand for medium-chain triglycerides in the coming years. The global market for medium-chain triglycerides is expected to grow and remain impressive over the forecast period.
The lack of a new raw material source is limiting medium chain triglycerides market growth. Furthermore, the high cost of R&D and production stifles market growth. Moreover, rising production costs due to rising raw material costs such as palm oil, coconut oil, and milk fats impede market growth. Due to the limited availability of oilseeds in some countries, there is a significant gap between supply and demand for oilseed processed products containing edible oil. During the forecast period, this factor is impeding medium chain triglycerides market demand over the forecast period.
The industry players are investing a lot of effort on the research and development of smart and unique strategies to sustain their growth in the market. These strategies include product launches, mergers & acquisitions, collaborations, partnerships, and refurbishing of existing technology. In September 2021, ABITEC and DKSH have amended their agreement to distribute specialty lipids into new markets and regions across Europe. The agreement strengthens the two companies' existing relationship and aims to help them grow and expand their presence in these emerging markets. In February 2021, Nexe Innovation, a plant-based material manufacturer, introduced a micro-ground soluble coffee with organic medium chain triglycerides in a fully compostable coffee pod.
The key players profiled in the medium chain triglycerides industry report include BASF SE, DuPont, Lonza Group Ltd., Croda International Plc, P&G Chemicals, Wilmar International Ltd., Stepan Company, Sternchemie GmbH & Co. KG, Koninklijke DSM N.V., and Emery Oleochemicals.
The global medium chain triglycerides market is segmented on the basis of type, source, application, and region. As per type, the market is sub-segmented into caproic acid, caprylic acid, capric acid, and lauric acid. According to source, the market is classified into coconut oil, palm kernel oil, and others. By application, the market is divided into dietary supplements, pharmaceuticals, food and beverages, beauty and personal care products, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The medium chain triglycerides market is segmented into Type, Source and Application.
By type, the caprylic acid sub-segment dominated the medium chain triglycerides market in 2021. One of the fatty acids found in coconut oil is caprylic acid. It's a medium-chain fatty acid with antibacterial, antifungal, and anti-inflammatory properties. These properties may make caprylic acid an effective treatment for a variety of ailments. Caprylic acid also acts as an antioxidant for the skin and enhances the antioxidants in skin care products. It is also used as an antimicrobial pesticide for surface sanitization in the food and dairy industries, as well as a disinfectant in certain healthcare sectors and services. These are predicted to be the major factors affecting the medium chain triglycerides market size during the forecast period too.
By source, the coconut oil sub-segment dominated the global medium chain triglycerides market share in 2021. MCTs (medium-chain triglycerides) are fats found in foods such as coconut oil. They are metabolized differently than most other foods' long-chain triglycerides (LCT). MCT oil is a supplement that contains a high concentration of these fats and is said to have numerous health benefits. Furthermore, demand for medium chain triglycerides is expected to rise because they protect against harmful viruses, bacteria, parasites, and fungi. Because of their antioxidant properties, coconut oils also aid in the treatment of inflammation-related issues.
By application, the dietary supplements sub-segment dominated the global medium-chain triglycerides market in 2021. Because of their ability to reduce and prevent the occurrence of several diseases such as cardiovascular, Alzheimer's, chyle leaks, and gastrointestinal disorders, medium-chain triglycerides are widely used in the formulation of various health and dietary supplements. Regular consumption of medium-chain triglycerides boosts metabolism, reduces fat deposition in adipose tissue, and reduces food intake, all of which contribute to a reduction in obesity levels. Furthermore, it is used in the formulation of sports nutrition supplements that are consumed during training to improve endurance, reduce body fat, and increase lean muscle mass.
By region, North America dominated the global medium-chain triglycerides market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period. Rising product demand in this region is primarily due to millennials' increased interest in dietary supplements and functional food and beverages. Many globally renowned beverage manufacturers are located in the region, which is led by the U.S.
The growing popularity of nutritional supplements is driving the market in the U.S. Because of its ability to treat cardiovascular and liver diseases, the inclusion of MCT as an ingredient in nutritional supplements has gradually gained popularity among individuals over the years. The country's dietary supplement market is unregulated because they are not classified as medical drugs. The aforementioned factors have encouraged manufacturers to increase the scale of production within the country in order to meet a wide range of consumer demands. Over the years, consumers across the country have become more interested in health supplements. Their sedentary work lifestyle is expected to significantly contribute to the rising trend of product consumption over the forecast period.
Impact of COVID-19 on the Global Medium Chain Triglycerides Industry
- The food and beverage industries were affected globally in 2020 as a result of the COVID-19 outbreak. The medium-chain triglyceride market is dominated by the food and beverage, personal care, and cosmetics industries.
- Consumers in price-sensitive nations like India and South Africa will be more inclined to favour premium goods as a result of the disease's enhanced health awareness, which will further push producers to include medium-chain triglycerides in their premium food products.
- Similarly, customers are expected to be willing to pay more for high-quality food even if the cost of a variety of medium-chain triglycerides, such as substances derived from plants and natural products, is higher than the cost of conventional foods.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the medium chain triglycerides market growth factors, segments, current trends, estimations, and dynamics of the report.
- Medium chain triglycerides market analysis from 2021 to 2031 to identify the prevailing medium chain triglycerides market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the medium chain triglycerides market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the medium chain triglycerides market forecast analysis of the regional segment
- The report provides medium chain triglycerides market trends, key players, market segments, application areas, and market growth strategies.
Medium Chain Triglycerides Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 3 billion |
 Growth Rate | CAGR of 6.6% |
 Forecast period | 2021 - 2031 |
 Report Pages | 320 |
 By Type |
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 By Source |
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 By Application |
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 By Region |
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 Key Market Players | BASF SE, DuPont, P&G Chemicals, Lonza Group Ltd., Wilmar International Ltd, Koninklijke DSM N.V., Emery Oleochemicals, Sternchemie GmbH & Co. KG, Stepan Company, Croda International Plc |
Analyst Review
The rising demand for medium chain triglycerides as a fat substitute in the diet, owing to properties such as aiding in weight maintenance, assisting in the reduction of stored body fat by increasing metabolism, and assisting in better digestion and providing more energy, is propelling the medium chain triglycerides market and is expected to fuel growth of the market during the forecast period. However, several small-scale market players supply coconut oil-infused items such as medium chain triglycerides-infused (MCT) products. This is expected to slow market growth because consumers may become confused about the difference between medium chain triglycerides and coconut oil and mistake them for the same thing. These factors restraint the medium chain triglycerides market growth.
New product launches are a major factor driving the global medium chain triglycerides market growth. Players create new products to meet the needs of consumers. Successful new product launches benefit both the market and the player. A successful new product launch contributes to the company's revenue stream and the consumer base of the player. It also aids in increasing the player's market share and provides a competitive advantage over other players.
Among the analyzed regions, North America is expected to account for the highest revenue in the market by the end of 2031, followed by Asia-Pacific, Europe, and LAMEA. Growing millennial interest in nutritional supplements and functional foods & beverages is mostly responsible for the North America region’s increasing product demand. Many well-known beverage producers are based in the area led by the U.S. This is one of the key factors responsible for leading position of North America followed by Asia-Pacific in the global medium chain triglycerides market.
The growing preference for natural goods over synthetic chemicals in the beauty and personal care sector would lead to market expansion prospects. Additionally, the food and beverage sectors of developing nations and the general shift toward natural products drive market growth. Moreover, the rise of the millennial generation, particularly in many nations, the use of the internet, and rising per capita income all contribute to the market's expansion during the projection period which is estimated to generate excellent opportunities in the medium chain triglycerides market.
Dietary supplements sub-segment of the application segment acquired the maximum share of the global medium chain triglycerides market in 2021.
Consumption of dietary and health supplements based on medium chain triglycerides (MCT) is anticipated to be driven by an improved standard of living along with consumer adoption of a healthy lifestyle.
Asia-Pacific will provide more business opportunities for the global medium chain triglycerides market in future.
BASF SE, DuPont, Lonza Group Ltd., Croda International Plc, P&G Chemicals, Wilmar International Ltd., Stepan Company, Sternchemie GmbH & Co. KG, Koninklijke DSM N.V., and Emery Oleochemicals are the major players in the medium chain triglycerides market.
The major growth strategies adopted by medium chain triglycerides market players are investment and agreement.
Pharmaceuticals industry and food & beverages are the major customers in the global medium chain triglycerides market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global medium chain triglycerides market from 2021 to 2031 to determine the prevailing opportunities.
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