Medium Chain Triglycerides Market Size, Share & Trends Analysis By Source, By Form, By Fatty Acid Type, By Application, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Medium Chain Triglycerides Market Size, Share & Trends Analysis By Source, By Form, By Fatty Acid Type, By Application, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global medium chain triglycerides market is projected to be worth USD 1268 million by 2030

According to SPER Market Research, the medium chain triglycerides market estimated to reach USD 1268 million by 2030 with a CAGR of 5.8%. The preference for natural products and dietary supplements is increasing with rise in lifestyle disorders. Improving standard of living and awareness for health will drive this market.

Impact of COVID-19 on the Medium Chain Triglycerides Market

During COVID-19 pandemic, the consumer behavior around purchase and consumption of products has changed. More expenditure on healthy food products is reported by the retailers even when the products are costlier than other brands based on preference for premium products and trust on brand. The expensive brand is often associated with the good quality and premium ingredients. Even if medium chain triglycerides are expensive as compared to conventional ingredients, consumers are willing to pay the higher amount for the quality products. Such change in consumption trend has impacted the market in a positive direction.

Scope of the report:

Market size available for years 2019-2030

Base year considered

2021

Forecast period

2022-2030

Segments covered

By Source, By Form, By Fatty Acid Type, By Application

Geographies covered

North America, Europe, APAC, Latin America, and the Middle East & Africa

Companies Covered

Acme-Hardesty Company, Barleans, BASF SE, Connoils, Croda International Plc., Dupont, Emery Oleochemicals Group, Henry Lamotte Oils GmbH, Jarrow formula’s, KLK Oleo, Koninklijke DSM N.V., Lonza Group Ltd., Musim Mas Holdings, Now foods, Nutiva, Nutricia, P&G Chemicals, Stepan Company, Sternchemie GmbH & Co. KG, Wilmar International Limited

Driver: Rising utility of medium chain triglycerides

Medium chain triglycerides are used in nutritional products, personal care products, dietary supplements and pharmaceutical products. These triglycerides are easily digestible and less likely to store in the body. These give instant energy on absorption in the body. Due to the nutritional benefits of medium chain triglycerides, the market is driven to grow in the forecast period with rise in demand.

Restraints: Use of alternatives

In personal care and cosmetic products, mineral oil is used in place of medium chain triglycerides to make it cost-effective. The skin barrier properties of medium chain triglycerides are not as effective as mineral oil. Thus, availability of alternative oils can restrain the growth of this market in cosmetic products.

Opportunity: Growing demand for natural cosmetics

The general trend of shift towards the natural products has influenced many markets. The rising awareness for natural cosmetic products is providing growth opportunities to medium chain triglycerides market. The increasing per capita income has raised the adoption of expensive products. Consumers prefer to opt for environment friendly and sustainable products.

Challenge: High cost of final product

The rising demand is not successfully met due to limited availability of oil seeds for extraction. To meet the demand, palm oil is imported which adds to the final cost of the product. The extraction process also requires sophisticated technology which is a costly process in itself. The high cost of the final product can thus pose a challenge to the growth of this market.

Medium Chain Triglycerides Market by Source:

Based on source, market has been segmented into palm, coconut and others

Medium Chain Triglycerides Market by Form:

Based on form, market has been segmented into dry and liquid

Medium Chain Triglycerides Market by Fatty Acid Type:

Based on fatty acid type, market has been segmented into Caproic Acid, Caprylic Acid, Lauric Acid, Capric Acid

Medium Chain Triglycerides Market by Application:

Based on application, the market is segmented into Nutritional Supplements, Personal Care Products, Pharmaceutical Products, Sports Drinks, Infant Formula, Other Applications

Medium Chain Triglycerides Market by Region:

North America owns the largest share of this market due to rising adoption of dietary supplements, increasing emphasis on natural products, high per capita income and prevalence of lifestyle diseases