Medium-Chain Triglycerides Market to Reach $2.32 Billion by 2030: The Brainy Insights
NEWARK, N.J., Aug. 25, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global medium-chain triglycerides market is expected to grow from USD 1.38 billion in 2021 to USD 2.32 billion by 2030, at a CAGR of 5.95% during the forecast period 2022-2030.
The nutraceutical industry's rapid expansion and the significant adoption by the cosmetics and food & beverage industries are anticipated to expand the medium-chain triglycerides enterprise demand during the projection period. Moreover, the increase in strategic advertising activities by top manufacturers to build a more significant customer base and the presence of a high youth population are also helping to propel market growth. However, the high production cost, the obtainability of alternative artificial products, and the cost involved in R&D activities are restraining the market growth. Furthermore, the increasing demand for functional food complements and the promptly growing market for personal care are opportunities for market growth.
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Market Growth & Trends
The growth of the medium-chain triglycerides market is driven by the growing use of medium-chain triglycerides as a substitute for fats in diets and the increasing millennial population. Moreover, the raised customer acceptance of a healthy lifestyle is the market growth trend. In addition, the increase in consumption of cosmetic products such as creams, foams, lotions, and ointments is helping to drive market growth. Further, the growing adoption of MCTs as an alternative fuel source and their potential health advantages in terms of weight loss & improved metabolism are helping to drive the market growth. Also, the increasing popularity of medium chain triglycerides among bodybuilders, athletes, and sportspeople due to their ability to improve their performance is expected to drive market growth during the forecast period. Furthermore, the availability of a new source of raw material and the proliferation in the personal care sector is anticipated to propel the market growth during the forecast period.
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Key Findings
- In 2021, the liquid segment dominated the market with the largest market share of 54.26% and market revenue of 0.74 billion.
The form segment is divided into liquid and dry. In 2021, the liquid segment dominated the market with the largest market share of 54.26% and market revenue of 0.74billion. This growth is attributed to its convenient application.
- In 2021, the coconut segment dominated the market with the largest market share of 41.11% and market revenue of 0.56 billion.
The source segment is divided into coconut, palm, and others. In 2021, the coconut segment dominated the market with the largest market share of 41.11% and market revenue of 0.56 billion. This growth is attributed to the increased demand for nutritional supplements.
- In 2021, the nutritional supplements segment dominated the market with the largest market share of 22.17% and market revenue of 0.30 billion.
The application segment is divided into sports drinks, nutritional supplements, pharmaceutical products, infant formula, personal care products, and others. In 2021, the nutritional supplements segment dominated the market with the largest market share of 22.17% and market revenue of 0.30 billion. This growth is attributed to the increasing customer awareness of personal health & well-being. Further, by 2030, the infant formula segment will likely dominate the market due to the growing demand for the nutritional requirement of infants.
- In 2021, the caprylic acid segment dominated the market with the largest market share of 32.19% and market revenue of 0.44 billion.
The fatty acid type segment is divided into caprylic acid, caproic acid, capric acid, and lauric acid. In 2021, the caprylic acid segment dominated the market with the largest market share of 32.19% and market revenue of 0.44 billion. This growth is attributed to the increasing government support regarding the use of naturally derived products in industrial applications.
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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 the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global medium-chain triglycerides industry, with a market share of 48.28% and a market value of around 0.66 billion in 2021. The Asia Pacific dominates the medium-chain triglycerides market due to a surge in demand for dietary supplements. Moreover, the presence of key industry participants and favorable growth in sports activities across regions are also helping to drive the region's market growth. Further, the North American region is expected to show the fastest CAGR of 7.04% over the projection period. This growth is attributed to consumers' increasing demand for convenience & processed food items. In addition, the growing fitness awareness among people via government healthcare campaigns also propels market growth in this region.
Key players operating in the global medium-chain triglycerides market are:
- Oleon NV
- ABITEC
- Barlean's
- CREMER OLEO GmbH & Co. KG
- BASF SE
- Acme-Hardesty Company
- Henry Lamotte Oils GmbH
- ConnOils LLC
- DuPont
- Croda International Plc
- KLK EMMERICH GmbH
- Musim Mas
- Sternchemie GmbH & Co. KG (Stern-Wywiol Gruppe GmbH & Co. KG)
- Jarrow Formulas, Inc.
- Procter & Gamble
- The Vegetable Vitamin Foods Company Pvt. Ltd.
- Wilmar International Ltd
- Stepan Company
- Timur OleoChemicals
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global medium-chain triglycerides market based on below mentioned segments:
Global Medium-Chain Triglycerides Market by Form:
- Liquid
- Dry
Global Medium-Chain Triglycerides Market by Source:
- Coconut
- Palm
- Others
Global Medium-Chain Triglycerides Market by Application:
- Sports Drinks
- Nutritional Supplements
- Pharmaceutical Products
- Infant Formula
- Personal Care Products
- Others
Global Medium-Chain Triglycerides Market by Fatty Acid Type:
- Caprylic Acid
- Caproic Acid
- Capric Acid
- Lauric Acid
About the report:
The global medium-chain triglycerides market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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