by 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 Overview:
Medium chain triglycerides (MCTs) are esters of medium chain fatty acids like caprylic acid and capric acid with glycerol. MCTs are produced either by fractionation of coconut or palm kernel oil or by chemical synthesis. MCTs have applications in medical nutrition, personal care products, dietary supplements and others. They are largely used in medical nutrition for conditions like fat malabsorption, short bowel syndrome, cancer etc. due to their rapid absorption and energy production characteristics. They also find application in sports nutrition as it enhances ketone body production. In personal care, MCTs are used in products like moisturizers, soaps, hair conditioners due to their moisturizing and emollient properties.
Market key trends:
One of the key trends in the MCT market is the increasing demand for nutritional and clinical applications. MCTs have demonstrated potential in several medical applications due to easy absorption and rapid metabolic conversion. They are widely used in medical nutrition products for conditions requiring medium chain fatty acids in the diet. The growing prevalence of such conditions like cancer, gastrointestinal disorders is driving the demand. Furthermore, increasing consumer awareness about benefits of MCT in weight management is another major trend. Studies demonstrating the role of MCT in increasing energy expenditure and suppressing appetite have increased its popularity in dietary supplements and sports nutrition. The market is also witnessing a trend of new product development utilizing MCT derivatives. For instance, caprylic/capric triglyceride blend is gaining popularity due to enhanced bioavailability. Leading players are focusing on expanding production capacities and new product launches to capitalize on the growing opportunities in nutritional and clinical domains.
Porter’s Analysis
Threat of new entrants: Medium as huge capital investment required for research and manufacturing units. However, fragmented nature of the industry allows easy entry for small players.
Bargaining power of buyers: Medium as buyers have moderate switching costs and power to negotiate prices due to availability of substitutes such as long-chain triglycerides.
Bargaining power of suppliers: Low as raw materials for medium chain triglycerides such as palm kernel oil and coconut oil are easily available globally.
Threat of new substitutes: Low as medium chain triglycerides have some unique health benefits that are difficult to substitute.
Competitive rivalry: High due to presence of many global and regional players operating in the fragmented industry. Players compete on the basis of product quality, innovation, and prices.
Key Takeaways
The global medium chain triglycerides market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period 2023 to 2030, due to increasing demand from the food and personal care industries. The market size for 2023 is estimated to be US$ 860.54 Mn.
Regionally, North America is expected to dominate the global medium chain triglycerides market during the forecast period. This is attributed to the increasing health consciousness and growing demand for dietary supplements and bakery goods. Asia Pacific is predicted to be the fastest growing market owing to rising disposable incomes, large consumer base and growing adoption of MCT oil in various industries in countries such as China and India.
Key players operating in the Medium chain Triglycerides are BASF,Wilmar International Ltd,Avic Pharmaceutical Etc.,ABITEC Corporation,A&A Fratelli Parodi,Musim Mas,DuPont,Lonza,Procter & Gamble,Stepan Company. These players compete on the basis of product quality, innovation, and pricing. Stepan Company and BASF are the leading players in the global market.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
