Medium Chain Triglycerides Market Expected to Reach $3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Medium Chain Triglycerides Market," The medium chain triglycerides market size 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.

Medium-chain triglycerides market (MCTs) are dietary fats produced for their value as a healthier alternative to trans fats and are naturally found in some foods such as whole foods and dairy products. The chemical molecule known as triglycerides is made up of three fatty acids and a glycerol backbone. The number of carbon atoms in the aliphatic tail formed by these fatty acids determines the type of triglyceride, which can vary.

Rising health concerns about dietary supplements and safe pesticides are driving global demand for medium-chain triglycerides. Medium-chain triglycerides have a weight-management benefit. The medium-chain triglycerides market is being driven by cumulative demand from developing countries' food and beverage industries, as well as increasing demand for a variety of medium chain triglycerides products such as food, medical, and others, owing to high demand from end-use industries. Additionally, growing demand for MCT oil among health-conscious people due to its properties such as improving metabolism, fat burning, and providing energy, combined with changing food habits and rising awareness toward fitness and a healthy diet, is another important factor boosting global medium chain triglycerides market growth.

Consumer skepticism will be a major challenge for the medium chain triglycerides market. MCT supplements, including MCT oils, are used and sold to aid in weight loss. Weight loss supplements have recently received negative attention due to their link to serious illnesses and injuries. Weight loss supplements, like other supplements, can have negative side effects such as increased heart rate, high blood pressure, diarrhea, kidney problems, insomnia, liver damage, and rectal bleeding. They also interact with some prescription and over-the-counter medications.

The availability of new raw materials is expected to boost the growth of the medium-chain triglycerides market. Furthermore, the rapidly expanding personal care market is expected to outpour medium-chain triglycerides demand in the coming year. Demand for global medium-chain triglycerides is expected to increase and remain strong in the near future. Furthermore, the growing use of MCT’s oil in dietary supplements and functional foods, as well as awareness of health benefits in terms of weight loss and improved metabolism, are driving medium chain triglycerides market growth. Additionally, the growing popularity of medium chain triglycerides among bodybuilders and athletes due to their ability to improve performance is expected to boost medium chain triglycerides market opportunities.

The global medium chain triglycerides market is segmented on the basis of type, source, application and region. As per type, the market is sub-segmented into caproic acid, caprylic acid, capric acid, and lauric acid. By source, the market is classified into coconut oil, palm kernel oil, and others. According to application, the market is divided into dietary supplements, pharmaceuticals, food and beverages, beauty and personal care products, and others.  Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the medium chain triglycerides industry 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.

The report offers a comprehensive analysis of the global medium chain triglycerides market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the medium chain triglycerides market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Medium Chain Triglycerides Industry

• The COVID-19 pandemic hampered the growth of the North America region medium chain triglycerides market in 2020, owing to the imposition of entire or partial lockdowns in countries such as the U.S., Canada, and Mexico, resulting in the closure of offline retail outlets.

• However, in the second half of 2020, numerous vendors in this region updated their business strategies to offer medium chain triglycerides oil-based skin and beauty products through online platforms, driving the growth of the targeted market through online channels.

•  Furthermore, the lifting of lockdown restrictions in North America due to a massive vaccination campaign in 2021 allowed offline retail outlets to reopen. During the forecast period, such factors are expected to drive the growth of the MCT oil market in North America.

Key Findings of the Study

• 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 predicted to show the fastest growth in the upcoming years.

• Based on region, the North America market registered the highest medium chain triglycerides market share in 2021 and is projected to maintain the position during the forecast period.

• The report also provides the in-depth medium chain triglycerides market analysis

• The report also covers the study regarding medium chain triglycerides market forecast, regional analysis and segmental analysis