According to a recent Global Market Insights Inc. study, the Medium-Chain Triglyceride Market size is expected to surpass USD 1.90 billion by 2027, primarily owing to its ability to offer health benefits including reducing lactate buildup in athletes and maintaining cognitive health.
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Rise in interest for health and beauty routine is creating opportunities for various cosmetic & personal care products. Increase in demand for cosmetic & personal care products to protect health, enhance well-being and boost their self-esteem should fuel MCT demand for cosmetic & personal care application thus propelling market growth.
Some major findings of the medium-chain triglycerides (MCT) market report include:
- Medium-chain triglycerides market should grow at a CAGR over 6% owing to its anti-inflammatory and antimicrobial properties which is increasing product application in range of cosmetics & personal care products.
- Coconut source surpassed USD 725 million in 2020, mainly due to its ability to offer numerous health benefits including weight management and increased energy.
- Nutritional supplements surpassed USD 730 million in 2020, mainly due to its health benefits of promoting weight loss and nutritional source of energy.
- Pharmaceutical applications are likely to surpass USD 95 million by 2027, owing to wide application in medications for treating food absorption disorders.
- The North America MCT demand is majorly driven by nutritional supplement, cosmetics & personal care applications.
- The MCT market is competitive and includes industry players such as BASF, Dupont, Lonza, P&G Chemicals, Acne Hardesty, KLK OLEO, STEPAN Company, Croda International and STERNCHEMIE GMNH & Co. KG.
Global medium-chain triglycerides market size by other source should surpass USD 140 million by 2027. Other sources include soybean, rapeseed, and sunflower oils. Sunflower oils are high in oleic acid, cost-effective and has familiar ingredient to consumers thus making them an attractive option for production of medium-chain triglycerides. Athletes use these medium-chain triglycerides for nutritional support during training, for decreasing body fat and increasing lean muscle mass which should positively impact the MCT market growth.
Global medium-chain triglycerides market size by food & beverage application should surpass USD 340 million by 2027. Consumers are showing high interest towards new and different food & beverage products owing to which innovation is an important factor in food & beverage sector. This is anticipated to fuel the MCT’s demand thus propelling market growth. Increasing consumer concern about mental health has raised consumer emphasis on eating for mental health which is anticipated to promote MCT demand for food & beverage application thus boosting market growth.
The product is widely used in protein shakes and healthy fruit smoothies for extra fat burning power which should propel product demand. Consumers are showing high interest towards food & beverage products with health boosting ingredients and high nutritional value. The increased attention towards health and fitness is driving the food & beverage industry which in turn should boost medium-chain triglycerides market market growth.
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The MCT is anticipated to witness demand for food & beverage application owing to growing urbanization, population growth and changes in diet preferences thus fostering market growth. Manufacturer inclination towards designing products to optimize physical health and mental wellness at all life stages is anticipated to see rise in demand. High consumer inclination towards consumption of healthier food & drink and willingness to be more physically active after COVID-19 pandemic is anticipated to escalate MCT demand for food & beverage application thus accelerating business growth.
Europe medium-chain triglycerides market is likely to register over 5.5% CAGR from 2021 to 2027 on account of increasing demand for MCT for cosmetic & personal care applications should augment market growth in the region. The cosmetic & personal care market players in the region are making heavy investments in R & D and are focused on product development which should positively impact medium-chain triglycerides market growth during the projected time frame.
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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