New York, USA, May 09, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global medium chain triglycerides market. According to the report, the global market is projected to surpass $2,959.9 million and grow at a CAGR of 6.6% in the estimated period, 2022–2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the medium chain triglycerides market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Medium Chain Triglycerides Market:
The outburst of the COVID-19 pandemic in 2020 has had a moderate impact on the growth of the global medium chain triglycerides market. During the pandemic period, due to lockdowns, social distancing, quarantine, travel restrictions, and supply chain interruptions, this industry's expansion was severely constrained. This, in turn, had an impact on the market for medium chain triglycerides. However, owing to increased health awareness, consumers are increasingly selecting premium goods, making it easier for producers to include MCTs in their food items. As a result, the demand from those sectors has recovered significantly, and it is anticipated that it will do so during the post-pandemic period.
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Factors Impacting the Medium Chain Triglycerides Market Growth
The key factor boosting the growth of the global medium chain triglycerides market is a significant rise in the need for medium chain triglycerides owing to the growing demand for MCT in several applications such as beauty and personal care products and dietary supplements. Furthermore, the increasing need from the cosmetics and pharmaceutical industries is estimated to unlock lucrative opportunities for market growth in the forecast period. However, the accessibility of other alternatives, like mineral oils in cosmetic applications, is anticipated to deter the market’s growth.
The report segments the global medium chain triglycerides market into type, source, application, and region.
Caprylic Acid Sub-Segment to Grab a Foremost Share of the Market
The caprylic acid sub-segment of the type segment is foreseen to observe leading growth in the forecast period. This growth is mainly because caprylic acid is used to treat a variety of ailments, including skin diseases, yeast infections, digestive issues, and high cholesterol.
Coconut Oil Sub-Segment to Witness Rapid Growth
The coconut oil sub-segment of the source segment is predicted to grow enormously in the forecast period. This growth is mainly due to an increase in research on the benefits of coconut oil and the popularity of the ketogenic diet.
Dietary Supplements Sub-Segment to Grab a Leading Share of the Market
The dietary supplements sub-segment of the application segment is expected to observe leading growth in the forecast period. This growth is mainly because dietary supplements like MCT help to improve a person's metabolism, which may trigger weight loss.
North America Region to Perceive Maximum Growth
The report analyzes the global medium chain triglycerides market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth in the estimated period. This growth is mostly due to the rise in cosmetics, dietary supplements, and beauty product purchases among millennials in this region.
Key Players of the Global Medium Chain Triglycerides Market
The report states some of the foremost players operating in the global medium chain triglycerides market including
- DuPont
- BASF SE
- Lonza Group Ltd
- P&G Chemicals
- Croda International Plc
- Wilmar International Ltd
- Emery Oleochemicals.
- Sternchemie GmbH & Co. KG
- Stepan Company
- Koninklijke DSM N.V
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
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For instance, in October 2018, Stepan Lipid Nutrition, a producer of components based on lipid and polymers to support medication delivery methods and formulations, launched the NEOBEE ProKeto product. This product is a micro-encapsulated C8 MCT oil that has been sprayed on a pea protein support to generate a free-flowing powder for food and supplement uses.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Medium Chain Triglycerides Market:
- What Makes Medium Chain Triglycerides Better than Normal Long Chain Fatty Acids?
- Global Medium Chain Triglycerides Market to Experience Noteworthy Growth with Increased Demand from the Pharmaceutical and Cosmetics Sectors
