The global medium-chain triglycerides market was valued at US$ 1,309.8 million in 2016 and is projected to reach US$ 2,295.6 million by 2025, exhibiting a CAGR of 6.55% during the forecast period, according to Medium-chain Triglycerides Market Report, by Fatty Acid Type (Caprylic Acid, Capric Acid, Caproic Acid, and Lauric Acid) and by Application (Personal Care Products & Cosmetics, Medical, Dietary & Health Supplements, Infant Nutrition, and Others) published by Coherent Market Insights.
Growing urban population in emerging economies such as India, China, and ASEAN coupled with increasing health awareness among the populace has resulted in growth of the medium-chain triglycerides market.
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Key Trends and Analysis of the Medium-chain Triglycerides Market:
Among fatty acid type, the caprylic acid segment held a dominant position in the market in 2016. The segment is expected to retain its dominance over the forecast period.
Among application, the dietary and health supplements segment accounted for the highest market share of 58.6% in 2016. The segment is expected to witness significant market growth for medium-chain triglycerides over the forecast period. The medical segment is also expected to drive growth over the forecast period, mainly due to rapidly expanding patient pool and rise in healthcare spending in Asia Pacific.
Key Takeaways of the Market
According to Coherent Market Insights’ study, North America accounted for the largest market share, in terms of revenue and volume, in the global medium-chain triglycerides market in 2016. The region is expected to be replaced by Asia Pacific as the largest market over the forecast period, mainly due to growing use of dietary supplements in China, India and ASEAN.
The factors influencing the growth of this market include increasing use of medium-chain triglycerides as substitute to fats in diets, rising consumer awareness, and increasing use of natural ingredients in medium-chain triglyceride supplements have resulted in increased demand for medium-chain triglycerides across all application segments.
The consumption of medium-chain triglycerides has numerous health benefits for the human body which includes improved rate of fat reduction and burning calories and easy absorption of nutrients by the body. Owing to these benefits, medium-chain triglycerides have gained significant traction among the sporting community for performance improvement and recovery. Also, the supplemental properties of the compound can be utilized for malnourished children and infants. The consumption of medium-chain triglycerides is found to have links to increased cognitive functioning and increased immunity in children.
Asia Pacific is projected to be the fastest growing region in the global medium-chain triglycerides market, witnessing a CAGR of 8.53% over the forecast period. In Asia Pacific, emerging economies such as China and India, are expected to experience significant growth in the dietary supplements and medicinal medium-chain triglycerides segment in the near future.
Major players operating in the global medium-chain triglycerides market include BASF SE, Wilmar International Limited, Lonza, Koninklijke DSM N.V., Stepan Company, Nutricia, Jarrow Formulas, E. I. du Pont de Nemours and Company, KLK Oleo, and The Procter & Gamble Company.
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