NEWARK, Del, July 19, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global medium chain triglyceride market is anticipated to grow at a CAGR of 6.2%, reaching US$ 1,312.7 Mn by 2032. Application of medium chain triglycerides in tablets, pills, ointments, powders, and other nutritional products is one of the factor propelling the demand in the market.
Another factor driving medium chain triglyceride adoption is the prevalence of gastrointestinal and malabsorptive illnesses. Apart from that, medium chain triglycerides are being used in the cosmetics sector as they are produced from organic and natural sources such as coconut oil, palm oil, and butter.
Furthermore, medium chain triglycerides are gaining traction in aromatherapy due to their small weight, extended shelf life, and absence of color and odor. Hence, the demand for medium chain triglycerides is increasing across pharmaceutical industry, propelling the growth in medium chain triglyceride market.
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Key Takeaways from Market Study
- The medium chain triglyceride market is expected to expand at CAGRs of 6.3% and 7.4% in East Asia and South Asia, respectively, through 2032.
- Market share of Latin America and Middle East & Africa is 5.4% and 8.9%, respectively in 2022.
- Among the form, dry form medium chain triglyceride is expected to dominate the medium chain triglyceride market holding more than 60% share in 2022.
- In terms of source, the coconut segment is expected to account for 56.1% of share in 2022 and it is expected to grow with CAGR of 3.7% over the forecast period.
- Based on application, the food and beverages is dominating the medium chain triglyceride market holding 67.2% of revenue share in 2022
- In terms of product type, the caprylic acid segment is dominating the medium chain triglyceride market, holding more than 60% of demand share in 2022.
“Increasing health consciousness across the globe coupled with rising prevalence of lifestyle and chronic diseases is significantly affecting the demand for medium chain triglycerides”, says a Future Market Insights analyst.
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Competitive Landscape
Key players in the medium chain triglyceride market are investing high amount in research in development in order to come up with newer and innovative product offerings. These product launches are helping the key players in the market to expand their product portfolio and gain consumer base.
For instance -
- In May 2021, BASF who is one of the key player in the global medium chain triglyceride market launched a new fungicide solution which is based on Revysol in china.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Medium Chain Triglycerides market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on form (liquid form, powder form), source (palm, coconut, others), application (personal care, food & beverage, pharmaceuticals), product type (caproic acid, capric acid, caprylic acid, lauric acid) across seven major regions of the world.
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Medium Chain Triglyceride Market by Category
By Form:
- Dry Form
- Liquid Form
By Source:
- Palm
- Coconut
- Others
By Application:
- Personal Care
- Food & Beverages
- Pharmaceuticals
By Product Type:
- Caproic Acid
- Capric Acid
- Caprylic Acid
- Lauric Acid
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle east and Africa
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About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Medium Chain Triglycerides Market Analysis 2017-2021 and Forecast, 2022-2032
5. Global Medium Chain Triglycerides Market Analysis 2017-2021 and Forecast 2022-2032, By Form
To be continued…!
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