The global Medium Chain Triglycerides market size is expected to be worth around US$ 2.6 billion by 2027, according to a new report by Vision Research Reports.
The global Medium Chain Triglycerides market size was valued at US$ 1.6 billion in 2019 and is anticipated to grow at a CAGR of 6.7% during forecast period 2020 to 2027.
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Improved standard of living coupled with the adoption of a healthy lifestyle by consumers is expected to drive medium chain triglycerides (MCT) based dietary and health supplements consumption over the forecast period.
Growing consumer inclination towards natural and organic alternatives coupled with augmented demand for is expected to drive the market for medium chain triglycerides (MCT) over the forecast period.
MCTs are composed of medium chain fatty acid attached to carbon chain ranging from C6 to C12. The prominent raw materials used for MCT extraction include coconut, palm kernel, palm, rapeseed, sunflower, and soybean oils. However, coconut oil is preferred over other oils owing to its high MCT composition accounting for approximately 60 to 70 percent. Palm kernel oil after coconut is also used on the large scale for product manufacturing owing to largescale production globally resulting due to high consumption among consumers.
Dietary and health supplements emerged as the leading application segment and accounted for over 57.0% of the total revenue in 2019. Medium chain triglycerides are widely used in formulating various health and owing to its ability to reduce and prevent the occurrence of several diseases including cardiovascular, Alzheimer’s, Chyle Leaks, and gastrointestinal disorders.
MCT’s are a gradually gaining attention within the cosmetic and personal care industries owing to their antioxidant, anti-inflammatory, and anti-microbial properties. The product is primarily used as an emollient, viscosity regulator, and carrier for active substances in several cosmetic formulations including perfumes, lipsticks, creams, sunscreens, bath oils, and body lotions.
North America accounted for a volume share of over 35.0% in the market in 2019 and is expected to maintain its dominance over the forecast period. Rising product demand in this region is primarily attributed to the growing focus on dietary supplements and and beverages among millennials. The region, led by the U.S., is a home for many globally renowned beverage manufacturers.
Asia Pacific is projected to register significant growth over the forecast period owing to a surge in demand for dietary supplements and increased consumption of medium chain triglycerides in nutraceutical sector.
Key PlayersBASF SE DSM Croda International Plc. Sternchemie Lipid Technology KLK OLEO Wilmar International Limited
Market SegmentationApplication Outlook Dietary & Health Supplements Personal Care & Cosmetics Pharmaceuticals Others Regional Outlook North America The U.S. Canada Mexico Europe Germany France Italy The U.K. Asia Pacific China India Japan Indonesia Malaysia Central & South America Brazil Argentina Middle East& Africa South Africa Saudi Arabia
In this study, the years considered to estimate the market size of Medium Chain Triglycerides are as follows:Historic Year: 2016-2019 Base Year: 2020 Forecast Year 2020 to 2027
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