The global medium chain triglycerides market is envisioned to garner $2,959.9 million by 2031, growing from $1,566.7 million in 2021 at a CAGR of 6.6% from 2022 to 2031.
Improved standard of living coupled with the adoption of a healthy lifestyle by consumers is expected to drive medium chain triglycerides (MCT) based dietary and health supplements consumption over the forecast period. Medium chain triglycerides are suitable for use in soft gels as a solvent and liquid oily lubricant. Solutions, liquid suspensions, lipid-based drug delivery methods for emulsions, ointments, self-emulsifying drug delivery systems, creams, gels, and foams, as well as suppositories, can all be made with medium chain triglycerides. By spray drying MCT oil, medium chain triglyceride powder is created. Food malabsorption problems, such as liver disease, celiac disease, diarrhea, steatosis, and digestion brought on by gastrectomy or short bowel syndrome surgery, can be treated with medium chain triglycerides.
The rising standard of living and increased health consciousness are driving market growth. Furthermore, increased adoption of medical applications for the treatment of diseases and disorders such as obstructive jaundice, gall bladder disease, AIDS, pancreatitis, biliary cirrhosis, cystic fibrosis, Crohn's disease, Whipple's disease, Alzheimer's disease, and seizures is propelling the medium chain triglycerides market growth. Moreover, the rising demand for medium-chain triglycerides to replace saturated fats in the diet is boosting the market growth. Additionally, medium chain triglycerides are used in personal care, nutritional, dietary supplement, and pharmaceutical products. This factor is also contributing to medium chain triglycerides market growth.
Mineral oil is frequently used as a cost-effective substitute for medium-chain triglycerides in cosmetics and personal care products. When used in personal care products, medium-chain triglycerides act as good skin barrier builders but are not as strong as mineral oils. These triglycerides are good substitutes for mineral oils if they are not formulated with petrochemicals. As a result, the availability of substitutes such as mineral oils is limiting market growth.
The growing importance of natural products over synthetic chemicals in the beauty and personal care industry is expected to drive market growth. Furthermore, the food and beverage industries of developing countries, as well as the general shift toward natural products, drive market growth. Cosmetic products infused with MCT are effective for people with sensitive skin because they contain natural ingredients that are less harmful to the skin. Furthermore, because it is lightweight, colorless, odorless, and has a longer shelf life, the product is widely used in aromatherapy. However, the use of medium chain triglycerides is still in its early stages, indicating greater opportunity for new entrants in the medium chain triglycerides market.
Furthermore, rising per capita income, increased internet use, and an increasing millennial population, particularly in many countries, are driving market growth during the forecast period. Moreover, rising consumption of medium chain triglycerides in cosmetics such as creams, lotions, gels, ointments, foams, and fragrances and flavorings is expected to drive the medium chain triglyceride market in China, India, and South Korea.
The initial lockdown in 2020 caused severe disruptions in the medium-chain triglyceride supply chain. Lack of raw materials from major Chinese suppliers, as well as halts in the movement of finished goods, slowed market growth. The closure of stores and the disruption of retail activities exacerbated the situation. Following the initial lockdown, regulatory relaxation and distribution through online markets aided the market's return to normalcy. Consumers in price-sensitive nations like India and South Africa will be more inclined to favor premium goods as a result of the disease's enhanced health awareness, which will further push companies to include medium-chain triglycerides in their upscale food products. The Covid-19 pandemic is linked to improved immunity, which motivates consumers to buy more branded and private label products. In general, consumers choose name-brand products, in part due to their growing brand loyalty and views of the use of premium and safe ingredients as a result of customers' exploration of wholesome diets and increased health awareness.
The key players profiled in this report include BASF SE, DuPont, Lonza Group Ltd., Croda International Plc, P&G Chemicals, Wilmar International Ltd., Stepan Company, Sternchemie GmbH & Co. KG, Koninklijke DSM N.V., and Emery Oleochemicals.
Improved standard of living coupled with the adoption of a healthy lifestyle by consumers is expected to drive medium chain triglycerides (MCT) based dietary and health supplements consumption over the forecast period. Medium chain triglycerides are suitable for use in soft gels as a solvent and liquid oily lubricant. Solutions, liquid suspensions, lipid-based drug delivery methods for emulsions, ointments, self-emulsifying drug delivery systems, creams, gels, and foams, as well as suppositories, can all be made with medium chain triglycerides. By spray drying MCT oil, medium chain triglyceride powder is created. Food malabsorption problems, such as liver disease, celiac disease, diarrhea, steatosis, and digestion brought on by gastrectomy or short bowel syndrome surgery, can be treated with medium chain triglycerides.
The rising standard of living and increased health consciousness are driving market growth. Furthermore, increased adoption of medical applications for the treatment of diseases and disorders such as obstructive jaundice, gall bladder disease, AIDS, pancreatitis, biliary cirrhosis, cystic fibrosis, Crohn's disease, Whipple's disease, Alzheimer's disease, and seizures is propelling the medium chain triglycerides market growth. Moreover, the rising demand for medium-chain triglycerides to replace saturated fats in the diet is boosting the market growth. Additionally, medium chain triglycerides are used in personal care, nutritional, dietary supplement, and pharmaceutical products. This factor is also contributing to medium chain triglycerides market growth.
Mineral oil is frequently used as a cost-effective substitute for medium-chain triglycerides in cosmetics and personal care products. When used in personal care products, medium-chain triglycerides act as good skin barrier builders but are not as strong as mineral oils. These triglycerides are good substitutes for mineral oils if they are not formulated with petrochemicals. As a result, the availability of substitutes such as mineral oils is limiting market growth.
The growing importance of natural products over synthetic chemicals in the beauty and personal care industry is expected to drive market growth. Furthermore, the food and beverage industries of developing countries, as well as the general shift toward natural products, drive market growth. Cosmetic products infused with MCT are effective for people with sensitive skin because they contain natural ingredients that are less harmful to the skin. Furthermore, because it is lightweight, colorless, odorless, and has a longer shelf life, the product is widely used in aromatherapy. However, the use of medium chain triglycerides is still in its early stages, indicating greater opportunity for new entrants in the medium chain triglycerides market.
Furthermore, rising per capita income, increased internet use, and an increasing millennial population, particularly in many countries, are driving market growth during the forecast period. Moreover, rising consumption of medium chain triglycerides in cosmetics such as creams, lotions, gels, ointments, foams, and fragrances and flavorings is expected to drive the medium chain triglyceride market in China, India, and South Korea.
The initial lockdown in 2020 caused severe disruptions in the medium-chain triglyceride supply chain. Lack of raw materials from major Chinese suppliers, as well as halts in the movement of finished goods, slowed market growth. The closure of stores and the disruption of retail activities exacerbated the situation. Following the initial lockdown, regulatory relaxation and distribution through online markets aided the market's return to normalcy. Consumers in price-sensitive nations like India and South Africa will be more inclined to favor premium goods as a result of the disease's enhanced health awareness, which will further push companies to include medium-chain triglycerides in their upscale food products. The Covid-19 pandemic is linked to improved immunity, which motivates consumers to buy more branded and private label products. In general, consumers choose name-brand products, in part due to their growing brand loyalty and views of the use of premium and safe ingredients as a result of customers' exploration of wholesome diets and increased health awareness.
The key players profiled in this report include BASF SE, DuPont, Lonza Group Ltd., Croda International Plc, P&G Chemicals, Wilmar International Ltd., Stepan Company, Sternchemie GmbH & Co. KG, Koninklijke DSM N.V., and Emery Oleochemicals.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medium chain triglycerides market analysis from 2021 to 2031 to identify the prevailing medium chain triglycerides market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the medium chain triglycerides market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global medium chain triglycerides market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Caprylic Acid
- Capric Acid
- Lauric Acid
- Caproic Acid
By Source
- Coconut Oil
- Palm Kernel Oil
- Others
By Application
- Dietary Supplements
- Pharmaceuticals
- Food and Beverages
- Beauty and Personal Care Products
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- DuPont
- Lonza Group Ltd.
- Croda International Plc
- P&G Chemicals
- Wilmar International Ltd
- Stepan Company
- Sternchemie GmbH & Co. KG
- Koninklijke DSM N.V.
- Emery Oleochemicals
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MEDIUM CHAIN TRIGLYCERIDES MARKET, BY TYPE
CHAPTER 5: MEDIUM CHAIN TRIGLYCERIDES MARKET, BY SOURCE
CHAPTER 6: MEDIUM CHAIN TRIGLYCERIDES MARKET, BY APPLICATION
CHAPTER 7: MEDIUM CHAIN TRIGLYCERIDES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Medium Chain Triglycerides Market," the medium chain triglycerides market was valued at $1.6 billion in 2021, and is estimated to reach $3 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031.MCTs (medium chain triglycerides) are fats synthesized in a laboratory from coconut and palm kernel oils. Long-chain triglycerides are the common name for dietary fats. MCTs are a good source of fat for people who can't eat other types of fat. Medium Chain Triglycerides (MCT) are a dietary supplement that is typically used in conjunction with pharmaceuticals to treat conditions that affect how food is absorbed, such as diarrhea, steatorrhea, and liver disease.
The market for medium-chain triglycerides is anticipated to experience rapid rise in recent years due to customer propensity toward adopting a healthy diet. The popularity of new diets like the ketogenic diet and the vegan diet has increased demand for the products that support such diets. The conversion of ketones in the liver is encouraged by the use of MCT oil and a ketogenic diet, therefore these products are used by consumers to enhance their health.
Medium chain triglycerides are one of the most often used products that people use to encourage weight loss. Coconut oil, coconut meat, and other foods that contain 6 and 12 carbon molecule fatty acids are among those that are used to make MCT. These foods are perfect for use by high-performance people like athletes because they produce a lot of energy when they are oxidized.
Medium-chain triglycerides are commonly used in nutritional diets, infant formulas, functional foods, pharmaceutical products, personal care products, sport drinks, and dietary supplements because they rapidly generate and improve human endurance. These triglycerides are quickly digested and easily absorbed by the human body. Because of their shorter chain length of fatty acids, these triglycerides are rapidly broken down and easily absorbed in the human body, making them less likely to be stored as body fat. This also aids in the generation of instant energy in the body. Extremely low-carb or ketogenic diets are effective methods of weight loss, and these triglycerides can be included in such diets because they produce ketones. Due to the aforementioned advantages, medium-chain triglycerides are in higher demand since they are becoming more well-liked by customers who are health conscious and inclined toward healthy eating habits.
Due to its antioxidant, anti-inflammatory, and anti-microbial qualities, MCTs are progressively gaining popularity in the cosmetic and personal care industries. In numerous cosmetic compositions, such as perfumes, lipsticks, creams, sunscreens, bath oils, and body lotions, the product is primarily employed as an emollient, viscosity regulator, and carrier for active ingredients. Products with MCTs provide the skin with moisture and a smooth texture. Additionally, it aids in lessening the effects of ageing on the skin. In cosmetics, the substance serves as a non-comedogenic ingredient, which forbids pore-clogging and improves the qualities of the skin.
Capric and caprylic acid are separated from the other fats in the vegetable oils during the fractionation process, which is the method used to make MCTs for commercial use. Triglycerides are created from the extracted product through lipase esterification. The final product is provided as a finished good for consumption following a number of quality checks.
In addition, the extracted product has a higher concentration of caprylic acid and capric acid compared to other glycerides, with a ratio of 5:2 for each. However, due to its offensive taste and odor, caproic acid is frequently removed from the remaining product.
Rising consumer health awareness, combined with rising demand for medium-chain triglycerides as a substitute for regular fats in diet, are the major factors driving the growth of the medium-chain triglycerides market. Furthermore, rising demand for innovative food and beverage products, as well as increasing demand for convenience foods, are important factors acting as medium-chain triglycerides market growth determinants. Moreover, the increasing health awareness caused by harmful diseases in some price-sensitive economies results in a consumer preference for premium products, which is expected to accelerate the market's overall growth.
The medium chain triglycerides market is segmented on the basis of type, source, application, and region. As per type, the market is classified into caproic acid, caprylic acid, capric acid, and lauric acid. On the basis of source, the market is divided into coconut oil, palm kernel oil, and others. According to application, the market is classified into dietary supplements, pharmaceuticals, food and beverages, beauty and personal care products, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
The key players profiled in the study include BASF SE, DuPont, Lonza Group Ltd., Croda International Plc, P&G Chemicals, Wilmar International Ltd., Stepan Company, Sternchemie GmbH & Co. KG, Koninklijke DSM N.V., and Emery Oleochemicals. The major players in the market are actively engaged in the adoption of various strategies such as product launches and business expansion.
Key Market Insights
- Based on type, the caprylic acid sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on source, the coconut oil sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on application, the dietary supplements sub-segment emerged as the global leader in 2021 and pharmaceuticals sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on region, the North America market registered the highest market share in 2021 and is projected to maintain its position during the forecast period.
Companies Mentioned
- BASF SE
- DuPont
- Lonza Group Ltd.
- Croda International Plc
- P&G Chemicals
- Wilmar International Ltd
- Stepan Company
- Sternchemie GmbH & Co. KG
- Koninklijke DSM N.V.
- Emery Oleochemicals
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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