Selbyville, Delaware, March 09, 2022 (GLOBE NEWSWIRE) -- According to the report by Global Market Insights Inc., the Medium-Chain Triglycerides Market was estimated at USD 1.25 billion in 2020 and is slated to exceed USD 1.90 billion by 2027, growing at a CAGR of 6% from 2021 to 2027. The research report gives a detailed analysis of market size & estimations, wavering market trends, top winning strategies, drivers & opportunities, competitive scenario, and major investment pockets.
Medium-chain triglycerides possess anti-inflammatory and antimicrobial properties and thus, find extensive usage in a wide range of cosmetics & personal care products. They also offer various health benefits, such as maintaining cognitive health and reducing lactate buildup in athletes, which is likely to drive market growth through the forecast period.
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Other sources of medium-chain triglycerides include rapeseed, soybean, and sunflower oils. Sunflower oils are cost-effective, rich in oleic acid, and are familiar to consumers, which makes them ideal for use in the production of medium-chain triglycerides. Athletes utilize medium-chain triglycerides for nutritional support while training as they help decrease body fat and increase lean muscle mass, which is set to fuel product adoption. Driven by these factors, the global medium-chain triglycerides market size from the others source segment is anticipated to be valued at about USD 140 million by 2027.
On the other hand, the coconut source segment garnered a valuation of more than USD 725 million in 2020 and is projected to see notable growth through 2027. Coconut offers numerous health benefits, including increased energy and weight management, which is foreseen to bolster segmental growth in the forthcoming years.
Key reasons for medium-chain triglycerides market growth:
- Surging usage of other sources of MCTs.
- Rising utilization in food & beverage sector.
- Mounting significance in COVID-19 treatment.
- Prevalent uptake in cosmetic & personal care products.
2027 forecasts show ‘food & beverage’ segment retaining its dominance:
From the application perspective, the medium-chain triglycerides industry share from the food & beverage segment is estimated to exceed a valuation of USD 340 million by 2027. Rising consumer interest in novel and different food & beverage products has increased the significance of innovation in the food & beverage industry. Additionally, mounting concerns regarding mental health has boosted consumer focus on eating for better mental health, which is speculated to push product demand in food & beverage applications over the review timeline.
Europe to maintain top status in terms of revenue:
By region, the Europe medium-chain triglycerides market is poised to record sizable growth at over 5.5% CAGR between 2021 and 2027 on account of escalating adoption of MCT in cosmetic & personal care products. Market players in the cosmetics and personal care sectors are increasingly investing in R&D activities and product development, which is slated to foster regional market outlook over the forecast period.
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Impact of COVID-19 pandemic on medium-chain triglycerides market:
The onset of COVID-19 created an urgent need for effective therapies to protect people against the coronavirus infection. To that effect, studies explored the efficacy of MCTs as part of COVID-19 treatment. For instance, a January 2021 study published in Annals of Nutrition and Metabolism demonstrated that intermittent fasting, along with supplementation with medium-chain triglycerides, could serve as a potential prophylactic strategy as well as adjuvant therapy for combating SARS-CoV-2 infections. As a result, growing prominence of medium-chain triglycerides as a therapeutic aid against the COVID-19 infection has positively influenced market growth during the pandemic.
Leading market players:
Key companies operating in the global medium-chain triglycerides market are KLK OLEO, BASF, Dupont, Lonza, Acne Hardesty, Croda International, P&G Chemicals, STEPAN Company, and STERNCHEMIE GMNH & Co. KG., among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
