The global Medium Chain Triglycerides Market size is expected to reach USD 2.7 billion by 2027, expanding at a CAGR of 6.8%, according to a new report by Grand View Research, Inc. Growing consumer inclination towards natural and organic alternatives coupled with augmented demand for dietary supplements is expected to drive the market for medium chain triglycerides (MCT) over the forecast period.
MCTs are composed of medium chain fatty acid attached to carbon chain ranging from C6 to C12. The prominent raw materials used for MCT extraction include coconut, palm kernel, palm, rapeseed, sunflower, and soybean oils. However, coconut oil is preferred over other oils owing to its high MCT composition accounting for approximately 60 to 70 percent. Palm kernel oil after coconut is also used on the large scale for product manufacturing owing to largescale production globally resulting due to high consumption among consumers.
Commercially, the product is extracted using fractionation process which separates MCTs from other fats, naturally present in vegetable oils. However the extraction process is capital intensive which is proving to be a major constrain in production. Furthermore, the fluctuating prices of raw materials such as coconut and palm kernel oil many affect the prices of finished products.
The product is gaining popularity among several pharmaceutical, beverage, and nutritional supplement manufacturers owing to the anti oxidant, and anti microbial properties exhibited by the product. The pharmaceutical formulation requires extremely pure and high-quality extracts, which are further used to treat gastrointestinal, liver, and cardiovascular disorders.
MCTs infused supplements are being consumed on a large scale across the globe due to changing food consumption pattern, improved lifestyle, and rise in consumer spending. Furthermore, increasing demand for safe and healthy products coupled with a rising number of individuals suffering from, obesity, and various other diseases is projected to drive market for MCTs over the coming years.
In 2019, Asia Pacific emerged as the fastest growing regional market for MCT owing to growing consumer health awareness and a diet-conscious population increasingly seeking functional benefits from dietary supplements in this region.
North America emerged as the largest market for MCT over the forecast period owing to rising consumption of dietary supplements that offer several health benefits such as weight loss promotion and blood sugar regulation .The recent outbreak of COVID-19 pandemic is expected to augment the consumption of dietary supplements in the coming years. MCT based supplements act as immunity boosters, which helps in proper body functioning and reduce disease occurrence. This is expected to positively impact the market for MCT over the forecast period.
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Medium Chain Triglycerides Market Report Highlights
- In terms of revenue , Asia Pacific emerged as the fastest growing region in the market across the globe
- Dietary and healthy supplements accounted for market share of approximately 58.0% by volume and emerged as a prominent application segment in 2019
- Asian countries particularly India and China are likely to witness a remarkable growth in next seven years
- The industry is fragmented and competitive in nature, with presence of major global players such as BASF SE, DSM, DuPont, Wilmar International Ltd, and Croda International Plc.
- Growing demand for nutritional and functional food products is expected to drive the product consumption in dietary and health supplement formulations.
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Medium Chain Triglycerides Market Segmentation
Grand View Research has segmented the global medium chain triglycerides market on the basis of application and region:
Medium Chain Triglycerides Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Dietary & Health Supplements
- Personal Care & Cosmetics
- Pharmaceuticals
- Others
Medium Chain Triglycerides Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Asia Pacific
- China
- India
- Japan
- Indonesia
- Malaysia
- Central & South America
- Brazil
- Argentina
- Middle East& Africa
- South Africa
- Saudi Arabia
List of Key Players of Medium Chain Triglycerides Market
- BASF SE
- DSM
- Croda International Plc.
- Sternchemie Lipid Technology
- KLK OLEO
- Wilmar International Limited
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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