Newark, NJ, Nov. 16, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global medium chain triglycerides market is expected to grow from USD 1.73 billion in 2020 to USD 2.76 billion by 2028, at a CAGR of 6.0% during the forecast period 2021-2028.
Medium chain triglycerides (MCTs) are partly man-made fats. The name denotes to the way the carbon atoms are settled in their chemical structure. MCTs are usually made by processing coconut and palm kernel oils in the laboratory. Normal dietary fats, by comparison, are long-chain triglycerides. People use MCTs as medicine.
The MCTs are occupied by mouth or given with a needle alone or along with normal medications for instinctive weight loss in people who are very ill. MCTs are also used for obesity, athletic performance and other conditions.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the medium chain triglycerides market. The novel Coronavirus (COVID-19) has obstructed almost all the industries worldwide including personal care products market. Increasing demand for personal care products owing to growth of health and hygiene consciousness helps the growth of the medium chain triglycerides market internationally.
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Key players operating in the global medium chain triglycerides market include BASF SE, Dupont De Nemours and Company, Koninklijke DSM N.V., Lonza Group Ltd., Musim Mas Holdings, Croda International PLC., The Procter & Gamble Company, Acme-Hardesty Co. Inc., Wilmar International Limited, Stepan Company, Sternchemie GmbH & Co Kg, Emery Oleochemicals Group, KLK OLEO among others. To gain a significant market share in the global medium chain triglycerides market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. BASF and Dupont Industries are some of the biggest players in medium chain triglycerides in the global market.
Caprylic acid dominated the market and held the largest market share of 33.6% in the year 2020
Based on type, the global market has been segmented into lauric acid, caprylic acid, caproic acid, capric acid. Caprylic acid dominated the market and held the largest market share of 33.6% in the year 2020. Caprylic triglycerides are derived from coconut oil and used as emollient agents in many applications.
Personal care products dominated the market will grow at the highest rate 6.4% in the year 2020
On the basis of application, the medium chain triglycerides market has been divided into dietary & health supplements, personal care & cosmetics, pharmaceuticals, others. Personal care products dominated the market and will grow at the highest rate 6.4% in the year 2020. The personal care products segment will grow at the highest rate due to the high consumption of medium-chain triglycerides in personal and cosmetic products due to their antioxidant, anti-inflammatory and anti-microbial properties, which are mainly used as viscosity regulator and carrier for many substances in many cosmetics.
Coconut dominated the market will grow at the highest rate 6.3% in the year 2020
Based on source, the medium chain triglycerides market has been divided into coconut, palm and others. The coconut is set to register and will grow at the highest rate 6.3% over the projection period. MCT is mainly derived from coconut oil. It has many health benefits like controlling blood pressure, lowering of cholesterol level and preventing risk of heart attack.
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Liquid dominated the market will grow at the highest rate 6.6% in the year 2020
Based on form, the medium chain triglycerides market has been divided into dry and liquid. The liquid segment is set to register and will grow at the highest rate 6.6% over the projection period. The long-chain triglycerides are fragmented down in the intestine and are then transformed into a form that can be transported in the blood. Though, medium-chain triglycerides are broken down at a much quicker rate to caprylic acid, interpretating them more absorbable in persons that produce low lipase levels.
Regional Segment Analysis of the Medium Chain Triglycerides Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global medium chain triglycerides market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region accounted for the fastest growth of 6.6% in the year 2020 and is anticipated to grow throughout the projected period due to more consumption of cosmetics and personal care products and food and beverages driving the demand for medium chain triglycerides. North America region accounted for the highest market share of 38% in the year 2020 and is anticipated to grow throughout the projected period. Because of the strong consumption of dietary & health supplements in the region, North America is estimated to lead the sector, followed by Asia Pacific. The market report covers all major countries including U.S., China, Canada, India, Germany, Japan, France, Indonesia, Brazil, U.K., Russia, Italy, South Korea, Taiwan, Australia, Thailand, Philippines, Malaysia, Vietnam, Mexico, Saudi Arabia, Turkey, U.A.E, etc.
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About the report:
The global medium chain triglycerides market is analyzed based on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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