Medium Chain Triglycerides Market
By Source (Coconut, Palm, Other), By Medium Chain Triglycerides Form (Dry, Liquid),
By Application (Dietary & Health Supplements, Personal Care & Cosmetics, Pharmaceuticals, Others),
By Type (Caproic, Caprylic, Capric, and Lauric),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global medium-chain triglycerides market is to be worth more than USD 1,783.6 million by 2033.
Increasing the use of medium-chain triglycerides in the diet as an alternative to saturated fats. In response to the increased demand and interest in organic food items, medium-chain triglyceride manufacturers have been considering developing new products at an accessible price. Increased global Internet penetration is another significant driver boosting the market in terms of value sales. According to the National Institute of Diabetes and Digestive and Kidney Diseases, diarrhoea, celiac disease, Crohn's disease, and steatorrhea affect 60 to 70 million people in the United States. Rising nutrition rates in Asia Pacific, Latin America, and Africa will likely boost growth in the medium-chain triglyceride market.
Companies in the medium-chain triglycerides industry are expanding their global presence through mergers, collaboration, acquisition, long-term contracts, and service agreements. For instance, In October 2019, Nutiva released a new Organic MCT Creamer to their MCT product line. Nutiva's new MCT product is the latest recent addition to the firm's ever-expanding MCT lineup. Organic MCT Creamer is a powdered plant-based creamer that claims to burn fat, deliver quick energy, and improve mental clarity. As a result of such fresh releases by industry players, demand for this man-made fat would increase, boosting the sector's growth.
According to the CXOs and primary research conducted, MCTs have grown in popularity among athletes looking to boost their energy and endurance for competition and training in recent years. These have been shown to aid in treating various medical diseases marked by poor fat metabolism. MCTs can also help prevent atherosclerosis (atherosclerotic plaques) and other heart diseases. As a result, increased awareness of the health benefits of medium-chain triglyceride consumption and high demand for fat alternatives will drive up demand for medium-chain triglyceride. In addition, the rise of various sports nutrition companies and the expanding global market are major drivers to expand the medium-chain triglycerides market in upcoming years.
The medium-chain triglycerides market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Due to increased usage in food and beverage, personal care and cosmetics goods, and growing preference for nutritional food and products, the Asia-Pacific dominates the medium-chain triglyceride market. It will maintain its dominance throughout the forecast period. The major companies operating within the market are ABITEC, Croda International PLC., Emery Oleochemicals, Jarrow Formulas, KLK Oleo, Lonza Group Ltd., Procter & Gamble Company, Stepan Company, Sternchemie GmbH & Co KG, Wilmar International Ltd.