Medium-chain Triglycerides Market Size By Source (Coconut, Palm), By Application (Nutritional Supplements, Food & Beverage, Pharmaceutical, Cosmetics & Personal Care), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share

Medium-chain Triglycerides Market Size By Source (Coconut, Palm), By Application (Nutritional Supplements, Food & Beverage, Pharmaceutical, Cosmetics & Personal Care), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Medium-Chain Triglycerides Market share is slated to register substantial growth during 2023–2032, primarily due to the increasing demand for beverages and fortified food items in Europe. Medium-chain triglycerides are used for the production of nutritious foods and beverages due to several health benefits such as maintaining a healthy weight, increased metabolism, improved digestion, and more energy.

Additionally, MCT oil can also reduce body fat, improve gut health, increase energy, protect the heart, fight bacterial growth, and manage certain neurological conditions. According to credible reports, MCT oils can also help in preventing obesity, which is becoming one of the most pressing health issues globally. This would further help augment the market scope in the coming years.

In addition, some European countries, such as Ireland and the United Kingdom, have mandated food fortification programs to spread awareness regarding the importance of fortified foods among residents, stimulating the compound demand during the next ten years.

Overall, the medium-chain triglyceride industry is segmented in terms of source, application, and region.

On the basis of source, the coconut segment is anticipated to experience robust growth through 2032. Coconut oil is mainly used to manufacture MCT oil as it has a high content of MCT fatty acids compared to other sources. Besides, several product advantages, such as helping in weight loss, appetite control, extra energy for exercise, and inflammation, will spur its adoption in the ensuing years.

Based on application, the pharmaceuticals segment is projected to be valued at over USD 125 million by 2032. The segmental growth will be attributed to several health benefits, such as improving cognitive thinking, aiding weight loss, controlling diabetes, boosting performance, and improving digestion. Besides, the rising cases of chronic illnesses due to poor nutrition, sedentary lifestyle, alcohol abuse, and tobacco use will also positively influence the demand for medium-chain triglycerides in the pharmaceutical sector.

In terms of the regional context, the Europe medium-chain triglyceride market is anticipated to be valued at over USD 610 million by 2032. The rising demand for cosmetics and personal care products in the region is estimated to drive demand for the MCT market. MCT's viscosity and emollient qualities make it a popular ingredient in cosmetics and personal care products.

Besides, the younger population in Europe are spending more on grooming items. As per credible sources, the people in age group of 18-34 years in Europe spend an average of USD 18.8 a month on skincare products. Growing demand for organic cosmetics owing to their health advantages is anticipated to fuel the regional market expansion between 2023 and 2032.