Medium-chain triglycerides, also known as MCTs, are fats that are shorter in length than long-chain triglycerides. They are commonly derived from coconut and palm kernel oils and provide health benefits when used as part of a ketogenic diet. MCT oils have a wide range of applications in the food and beverage industry as well as in pharmaceutical products and personal care items due to properties such as easier digestion. MCT oils serve as a source of quick energy, aid weight loss efforts and help boost cognitive function.
The global Medium chain Triglycerides Market is estimated to be valued at US$ 860.54 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth of the medium chain triglycerides market is the rising popularity of the ketogenic diet. The ketogenic diet emphasizes consumption of high-fat, moderate-protein, and low-carbohydrate foods. MCTs fit well within a ketogenic diet plan since they are rapidly absorbed and converted into ketone bodies by the liver, promoting ketosis. Moreover, increasing health consciousness among consumers has led to rising demand for MCT oils as a dietary supplement. Players in the market are focusing on new product launches and introduction of innovative formulations of MCT oils for various industries in order to capitalize on the prevalent trends and boost their market share. However, concerns regarding the safety of high doses of MCTs need to be addressed in order to ensure widespread adoption.
Threat of new entrants: The medium chain triglycerides market requires high capital investments and R&D investments which make it difficult for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power in this market due to the availability of substitutes.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the presence of a large number of suppliers in the market.
Threat of new substitutes: Threat of substitutes is moderate as other vegetable oils and fats can be used as substitutes for medium chain triglycerides.
Competitive rivalry: The market has the presence of few global players resulting in high competitive rivalry.
The global Medium chain Triglycerides market is expected to witness high growth. The global Medium chain Triglycerides Market is estimated to be valued at US$ 860.54 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the global medium chain triglycerides market owing to increasing demand from the personal care and pharmaceutical industries in the region. Asia Pacific is expected to be the fastest growing market during the forecast period owing to expansion of end-use industries and changing consumer preferences in countries like China and India.
Key players: Key players operating in the medium chain triglycerides market are BASF, Wilmar International Ltd, Avic Pharmaceutical, ABITEC Corporation, A&A Fratelli Parodi, Musim Mas, DuPont, Lonza, Procter & Gamble, Stepan Company. BASF is one of the leading players in the market.