According to the MRFR reports, the global medium-chain triglycerides is expected to attain a market size of over USD 889.25 million by the end of 2024 while exhibiting a healthy CAGR of approximately 6.5% from 2019 to 2024.
Medium-chain triglycerides are made from two or three fatty acids. MCT is obtained from the processing of coconut and palm kernel oils. The global medium-chain triglycerides market has witnessed massive growth over recent years owing to factors such as growing demand for functional food supplements, increasing the demand for different types of medium-chain triglycerides, escalation in demand from food processing and beverage making industries, and growing areas of applications such as medicinal products, infant nutrition, personal care products, and dietary supplements. However, the growth of the MCT market is anticipated to be impeded by the cost involved in research and development activities and high production costs.
Segment Analysis
The global market for medium-chain triglycerides is divided into several segments based on application, type, source, form, and region.
The global MCT market is bifurcated into caproic, lauric, capric, and caprylic based on type.
Based on form, the MCT market is split into liquid and dry.
By source, the global MCT market is bifurcated into coconut oil, palm kernel oil, and others.
The MCT market is divided into personal care, pharmaceuticals, food & beverages, and others based on application.
Regional Analysis
The global medium-chain triglycerides market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The North American regional medium-chain triglycerides market will likely secure the top position globally over the review timeframe. The regional market's growth is being driven by the increasing demand for convenience and processed food items, the growing inclination of consumers toward healthy lifestyles, and the growing demand for healthy and nutritious food among consumers across the region. The US and Canada are the leading growth contributors in the regional market for medium-chain triglycerides.
The Asia-Pacific regional medium-chain triglycerides market size is projected to register the highest growth over the assessment timeframe. The regional market's growth is attributed to the growing demand for applications such as food additives, personal care, surfactants, and detergents. Furthermore, the rising use of personal care products such as cosmetics, creams, gels, and lotions is also one of the vital factors to boost the performance of the regional MCT market.
Competitive Analysis
The global market for medium-chain triglycerides has an intensely competitive landscape. The players in the global MCT market are adopting several new strategies such as partnerships, mergers, product development, acquisitions, etc., strengthening their market position. The leading players in the medium-chain triglycerides market include Timur Oleochemicals Malaysia Sdn.Bhd. (Malaysia), Lonza Group Ltd. (Switzerland), Croda International PLC. (UK), Jarrow Formulas (US), Stepan Company (US), E. I. du Pont de Nemours and Company (US), KLK Oleo (Malaysia), Sternchemie GmbH & Co KG (Germany), Procter & Gamble Company (US), ABITEC (US), Wilmar International Ltd (Singapore), Emery Oleochemicals (US), BASF SE (Germany), Sternchemie Lipid Technology (Germany), Koninklijke DSM N.V. (Netherlands), and several others.
Recent Developments
- November 2021 - a leader in plant-based materials manufacturing, NEXE Innovations Inc., has announced that its XOMA Superfoodsproduct line has received approval for listing with leading Canadian eCommerce retailer, Walmart.ca. The products are well-matched with Keurig® single-serve brewing systems and are sold in packages of 12 pods.
The product line by XOMA Superfoods product line includes:
- Keto Cocoa
- Matcha
- Turmeric Golden Milk
- Coffee Fortified with medium-chain triglycerides (MCT)
- Keto Coffee
- August 2021- Glanbia Nutritionals, a Chicago-based company, offers the weight management and sports nutrition markets with the latest keto powder ingredient, the latest that combines medium-chain triglyceride (MCT) oil and whey protein. KetoSure MCT enables companies to develop keto-friendly weight management and sports nutrition products. The company revealed in a press conference that Glanbia Nutritionals' latest KetoSure MCT offers customers an extraordinary ketogenic ingredient, which blends premium whey protein isolate with high-quality, coconut-based MCT oil in a powder format.
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