Dubai, UAE, Oct. 25, 2023 (GLOBE NEWSWIRE) -- As per the latest report released by Extrapolate, the Global Medium Chain Triglycerides (MCTs) Market size was recorded at USD 1.53 billion in 2022 and is estimated to reach USD 2.50 billion by 2030, exhibiting a CAGR of 6.41% during the forecast period. A growing interest in improving immunity, increasing incidences of malnutrition, the presence of well-established, financially solid organizations with a broad product portfolio, and strong global distribution networks are fostering market demand.
Medium-chain triglycerides (MCTs) refer to a fat supplement synthesized in a lab from coconut and palm kernel oils that can enhance immunity. The consumption of dietary and health supplements containing medium-chain triglycerides is increasing, primarily attributed to a favorable shift towards an improved standard of living and a growing adoption of healthier lifestyles. This trend is furthering product development in the supplement industry.
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Competitive Landscape
Key players in the global market employ numerous strategies such as partnerships, takeovers, ventures, innovations, R&D activities, and regional expansions to strengthen their market positions. Furthermore, surging investments in R&D activities, coupled with the development of smart and innovative strategies help them stay competitive in a cut-throat marketplace.
Prominent market players involved in the global medium chain triglycerides market include:
- BASF Corporation
- International Flavors & Fragrances Inc.
- KLK OLEO
- Procter & Gamble
- Lonza.
- Musim Mas
- Croda International Plc.
- Acme-Hardesty, Co.
- Wilmar International Ltd
- Stepan Company
- Sternchemie GmbH & Co. KG.
Market Segmentation
By Form
- Dry
- Liquid
Emergent Use of Dry Form in Nutritional Supplements to Advance Product Proliferation
The dry form segment dominated the market owing to its various beneficial characteristics. The powder form of medium chain triglycerides is a free-flowing, white, or off-white substance that can dissolve in water. This powder is made from materials like palm oil, coconut oil, or palm kernel oil. It is combined with other components to create a variety of nutritional formulas, including newborn formula, weight-management products, and sports nutrition. The integration of dry powder in numerous nutritional supplements to boost its efficiency is propelling market expansion.
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By Fatty Acid Type
- Caprylic Acid
- Capric Acid
- Lauric Acid
- Caproic Acid
- Others
Potential Health Benefits Associated with Lauric Acid to Accelerate Market Progression
The lauric acid segment held a lion’s share of the market revenue and is slated to register prominent development in the coming years. This growth is foreseen to be driven by the antimicrobial and other potential health benefits associated with lauric acid. It is one of the primary components in coconut oil that contributes to the composition of MCTs.
Rising Use of MCTs as a Healthy Alternative to Fuel Market Growth
MCTs are increasingly employed in numerous products such as nutritional diets, functional foods, infant formulas, pharmaceutical items, sports drinks, personal care products, and dietary supplements due to their ability to generate energy and improve human endurance. These triglycerides are less likely to be deposited as body fat since the fatty acids in them have shorter chain lengths, which enable the body to absorb and break them down faster. This supports the body's instant energy production as well.
Triglycerides that produce ketones can be included in extremely low-carb or ketogenic diets, which aid weight loss. Additionally, medium chain triglycerides are gaining popularity among health-conscious consumers who prioritize healthy dietary choices, further leading to an uptick in their demand.
Key Industry Developments
- In February 2021, Nexe Innovations, a company specializing in plant-based materials, introduced a novel product, a micro-ground soluble coffee infused with organic medium-chain triglycerides.
- In August 2020, the launch of "Celevida Maxx", a supplement created to manage the nutritional needs of cancer, critical care, and chronic obstructive pulmonary disease (COPD) patients in India, was announced by Dr. Reddy's Laboratories Ltd.
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Market Growth is Limited by the Existence of Low-Cost Alternatives
Mineral oils are widely used as a less expensive alternative to MCTs in personal care and cosmetic products. Although they are not as effective as mineral oils in building skin barriers, MCTs display similar effects. These triglycerides can only be used as a substitute for mineral oil if they are devoid of petrochemicals. As a result, the availability of alternatives such as mineral oils is hindering industry growth.
High Popularity of Nutritional Supplements in North America to Spur Market Sales
North America holds the largest market share for the global medium chain triglycerides market owing to the rising popularity of nutritional supplements, beverages, and functional foods. The region houses numerous internationally acclaimed beverage manufacturers, with the United States taking the lead. Over time, the incorporation of Medium-Chain Triglycerides (MCT) as an ingredient in nutritional supplements has been increasingly embraced due to its potential benefits in treating cardiovascular and liver ailments.
Notably, the market for nutritional supplements remains unregulated in the country as they are not classified as medical medications. In response to these factors, companies have been prompted to scale up production within the nation to cater to the diverse demands of consumers.
Extensive Application of Products with MCTs in APAC to Augment Product Demand
Asia Pacific is the fastest-growing region due to the increasing application of MCTs products such as capric, caprylic, and lauric triglycerides in personal care, cosmetics, and food & drinks. India, China, and Japan rank as the leading consumers of Medium Chain Triglycerides (MCTs) in the Asia Pacific region.
This heightened demand for MCTs can be attributed to the region's growing interest in nutritional food and products, driven by busy lifestyles and increasing disposable incomes. Additionally, the rising utilization of personal care and cosmetic products, including gels, lotions, creams, and cosmetics, particularly among women, has further bolstered the growth of the medium chain triglycerides market in the Asia Pacific region.
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Table of Content
Chapter 1 Introduction of the Global Medium Chain Triglycerides Market
Chapter 2 Executive Summary
Chapter 3 Research Methodology
Chapter 4 Global Medium Chain Triglycerides Market Outlook
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Medium Chain Triglycerides Market, By Distribution Channel
Chapter 7 Global Medium Chain Triglycerides Market, By Form
Chapter 8 Global Medium Chain Triglycerides Market, By Fatty Acid Type
Chapter 9 Global Medium Chain Triglycerides Market, By Application
Chapter 10 Global Medium Chain Triglycerides Market, By Geography
Chapter 11 North America
Chapter 12 Europe
Chapter 13 Asia-Pacific
Chapter 14 Middle East & Africa
Chapter 15 Latin America
Chapter 16 Global Medium Chain Triglycerides Market Competitive Landscape
Chapter 17 Company Profiles
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