Medium-chain triglycerides market size is expected to generate a revenue of USD 1,034 million by 2026, at a CAGR of 6.3%. The global industry size was valued at USD 763 million in 2021. The Medium-Chain Triglycerides market is a growing market, driven by increasing demand for MCT oil in dietary supplements and functional foods, as well as growing awareness of the health benefits of MCTs. MCTs are a type of saturated fatty acid found in coconut oil, palm oil, and dairy products. They are metabolized differently than long-chain fatty acids and are quickly absorbed by the body, making them a popular ingredient in energy bars, sports drinks, and weight-loss supplements. MCT oil is the most common form of MCTs used in the market and is available in various grades, including food grade and cosmetic grade. The food and beverage industry is the largest end-user of MCT oil, followed by the dietary supplements and cosmetics industries.
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A Medium-chain triglycerides market report typically covers the following aspects:
Market Segmentation: The market is segmented by product type, application, and geography. Product types include MCT oil, MCT powder, and MCT cream. Applications include food and beverages, dietary supplements, cosmetics, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Market Overview: This section provides an overview of the Medium-chain triglycerides market, including market size, growth rate, and market trends.
Market Dynamics: This section covers key market drivers, restraints, opportunities, and challenges that are impacting the Medium-chain triglycerides market.
Competitive Landscape: This section provides an overview of the competitive landscape of the Medium-chain triglycerides market, including market share analysis and profiles of major players operating in the market.
Company Profiles: This section provides detailed information about major players operating in the MCT market, including company overview, product offerings, financial performance, and recent developments.
Conclusion: This section provides a summary of the key findings of the report, including market size, growth rate, and market trends.
Opportunities: Rise in demand for natural cosmetic products
According to FAOSTAT, the global natural and organic beauty market is estimated to be valued at USD 24 billion in 2024. Over years, the preference for natural products over artificial chemicals has increased in the beauty and personal care industry. Factors such as the increasing millennial population, specifically in the Asia Pacific region, and use of the Internet, growing per capita income, a rising awareness regarding sustainable and environment-friendly products have together driven the market for organic cosmetics and personal care products. This has resulted in an increase in the demand for specialty ingredients such as palm oil and coconut oil for use in the beauty and personal care industries in recent years.
Citing the significant growth of the organic beauty and personal care markets, some of the key manufacturers are now investing in and developing innovative cosmetic products that serve the requirements of target customers. In 2018, Malaysia-based IOI Corporation opened a formulation and multinational CARE studio in Hamburg, Germany, where the company aimed at developing natural cosmetic products with the help of palm oil-based natural fatty acids. Similarly, in 2015, Natural Sourcing, one of the key suppliers of natural ingredients to the cosmetics industry, announced the launch of a new line of strawberry specialty oil as a skincare product. Thus, the rising demand for natural cosmetic products paves the way for the growth of the medium-chain triglycerides market in the beauty and personal care application sector.
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China dominated the Asia Pacific market for Medium-Chain Triglycerides with a share of about 31.1% in 2020.
China accounted for about 31.1% of the medium-chain triglycerides market in the Asia Pacific region in 2020, in terms of value, making it one of the most robustly growing markets in the region. The demand for medium-chain triglycerides is increasing in China due to changing lifestyles of consumers and preferences. The increasing purchasing power of consumers due to the economic development in China has led to the increase in demand for high-quality processed foods, nutritional diet, personal care, and cosmetics products. Hence, the market for medium-chain triglycerides is projected to increase as it is an essential additive in nutritional supplements, infant formula, sports drinks, pharmaceuticals, personal care, and other applications.
Key players in this market include BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Dupont(US), Lonza Group Ltd(Switzerland), Musim Mas Holdings(Singapore), Croda International Plc(UK), P&G Chemicals (US), Acme-Hardesty Company(Bluebell, PA), Wilmar International Limited( Singapore), Stepan Company (US), Sternchemie GmbH & Co. KG(Germany), Emery Oleochemicals Group(US), KLK Oleo(Malaysia), Nutricia(New Zealand), Connoils (US), Now foods(US), Barleans (Washington), Jarrow formula’s(US), Nutiva(US), Henry Lamotte Oils GmbH (Germany).
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