The medium-chain triglycerides market is predicted to increase significantly at a 6.2% CAGR during the forecast period. The market is likely to reach USD 1,570.42 million by 2033. In 2023, the global demand for medium-chain triglycerides is expected to surpass USD 860.54 million.
The tendency of consumers to embrace a healthy diet is projected to contribute positively to medium-chain triglyceride adoption. The popularity of new diets like the ketogenic diet and the vegan diet is driving greater demand for products that support such plans.
The conversion of ketones in the liver is aided by the use of MCT oil in conjunction with a ketogenic diet. Thus, ketogenic medium-chain triglycerides are used by customers to enhance people's health.
The demand for MCT supplements is developing as a result of the expanding use of MCTs in the food and beverage sector and the rising need for supplements for weight management. By 2033, the medium-chain triglycerides supplements market is anticipated to expand at a CAGR of 15.1%. This creates attractive opportunities for the leading companies in the global industry.
| Attributes | Details |
|---|---|
| Medium-chain Triglycerides Market CAGR (2023 to 2033) | 6.2% |
| Medium-chain Triglycerides Market Size (2023) | USD 860.54 million |
| Medium-chain Triglycerides Market Size (2033) | USD 1,570.42 million |
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| Market CAGR (2018 to 2022) | 4.4% |
|---|---|
| Market Size (2018) | USD 637.01 million |
| Market Size (2022) | USD 810.3 million |
The medium-chain triglycerides oils are being driven by the rising demand for them as a healthy fat substitute in diets, due to their benefits in maintaining a healthy weight. It supports the reduction of body fat by boosting metabolism, promoting better digestion, and providing more energy.
A favorable effect on the market is also anticipated from the rising popularity of medium-chain triglycerides among athletes, bodybuilders, and sportspeople due to their capacity to improve performance.
Due to all these factors, demand for medium-chain triglycerides shows a potential growth of 1.06x between 2022 and 2023.
Due to their antioxidant, anti-inflammatory, and anti-microbial qualities, medium-chain triglycerides are gaining traction in the cosmetic and personal care industry. The ingredient is extensively utilized as an emollient, viscosity regulator, and carrier for active ingredients in fragrances, lipsticks, creams, and other cosmetic formulations.
Medium-chain triglyceride-based cosmetics hydrate the skin and give it a smooth feel. It also aids in the reduction of the aging impact on the skin. Medium-chain triglyceride works as a non-comedogenic ingredient in cosmetic products, preventing pore blockage, and improving skin quality.
Medium-chain triglyceride-infused cosmetics are excellent for those with sensitive skin since they include natural components that are less irritating to the skin. This is predicted to improve the demand for medium-chain triglycerides in the personal care and cosmetic industry.
Increasing Consumption of Nutritional Food to Boost Medium-chain Triglycerides
The United States is anticipated to dominate the North America medium-chain triglycerides market, having over 82.6% of the demand share in 2022. Sales in the medium-chain triglycerides industry are expected to rise at a CAGR of 5.8% over the forecast period.
Over the past half-decade, the demand for nutritional food products significantly increased in the United States, and the trend is expected to continue in the upcoming decade.
Hence, with increasing demand for highly nutritional food and beverage ingredients, the sales of medium-chain triglycerides are expected to surge in the United States.
Rising Application of Medium-chain Triglycerides in the Cosmetic Sector to Aid the Growth
Germany is expected to spearhead the growth in Europe's medium-chain triglycerides business, as per FMI. Germany held around 19.4% of the market share in 2022, and the sales are expected to increase at a CAGR of 4.0% over the forecast period.
Demand for natural cosmetic products has significantly increased among the millennial and Gen-Zs in Germany. This is aiding the adoption of natural cosmetic ingredients, facilitating the growth in the medium-chain triglyceride market.
Growing Awareness Regarding Medium-chain Triglycerides in India Fuel Demand
According to FMI, India is expected to dominate the South Asia medium-chain triglycerides market, accounting for 30.3% of the share in 2022. Demand in the market is expected to accelerate at a CAGR of 5.5% over the forecast period.
Increasing awareness about the health benefits associated with the consumption of medium-chain triglyceride is a key factor fueling the growth in India's medium-chain triglyceride market.
The medium-chain triglycerides business in the United Kingdom is expected to continue its growth trajectory in the coming years. It is driven by a combination of factors such as increasing health consciousness. The growing trend towards natural and organic supplements and the rising demand for weight management solutions are proliferating sales.
Nestle S.A., NOW Foods, Bulletproof 360, Inc., Nutiva Inc., and Perfect Keto are key participants in the United Kingdom market. These businesses are making significant investments in research and development to create novel goods that address evolving consumer requirements and tastes.
One of the world's most sophisticated beauty markets is found in South Korea. There are continually new developments in the cosmetics industry, including complex ingredients and visually appealing packaging. This gives a scope for innovation to the MCT market in South Korea.
The South Korean market for cosmetics and personal care goods was worth around USD 11,900 million in 2021, and by 2026, it is anticipated to be worth around USD 15,900 million. The global MCT market in South Korea is projected to exhibit tremendously profitable prospects in this setting.
Over 3/5th of Sales to be Contributed by Liquid Medium-chain Triglycerides
In terms of form, the liquid form of medium-chain triglycerides is immensely gaining traction in the market. Liquid form medium-chain triglycerides held around 61.3% share in 2022, and it is expected to expand with a CAGR of 4.2% over the forecast period.
Coconut to be the Most Preferred Source for Medium-chain Triglycerides Oil
Based on the source type, coconut is the most prominent source of medium-chain triglycerides, according to the FMI. The segment dominated with 56.1% of revenue share in 2022, and it is expected to expand at a CAGR of 3.7% over the assessment period.
Coconut is a rich source of medium-chain triglyceride. It comes with several health benefits, such as lowering cholesterol levels, blood pressure regulation, and also preventing the risk of a heart attack. Owing to these factors, coconut is highly consumed as a source of medium-chain triglycerides.
Several small-scale market participants advertise items infused with coconut oil as MCT-infused products. Customer confusion regarding the distinction between medium-chain triglycerides and coconut oil is likely to hamper the market growth. The main distinction between the two is that while particular MCTs are derived from other fats, coconut oil also contains MCTs.
Medium-chain Triglycerides Sector Benefits from Rising Application in Food & Beverage Sector
Medium-chain triglycerides are extensively consumed in the food and beverage industry, as per FMI. The food and beverage industry dominated the market, with a share of around 67.2% in 2022, and is poised to expand at a CAGR of 4.5% between 2023 and 2033.
Rising demand for medium-chain triglycerides from dietary supplements is one of the key factors fueling sales in the food and beverage industry. Moreover, increasing awareness regarding health benefits associated with the consumption of medium-chain triglyceride, coupled with high demand for fat replacers, propels the sales of medium-chain triglyceride.
MCTs are slowly becoming more popular in the personal care industry due to their anti-inflammatory, anti-oxidant, and anti-microbial qualities. The product is primarily utilized in numerous cosmetic compositions as an emollient, viscosity regulator, and carrier for active ingredients. This includes bath oils, creams, body lotions, sunscreens, lipsticks, and perfumes.
The pharmaceutical sector is able to keep up with the increase. The Journal of Prevention of Alzheimer's Disease claims that MCT oil aids in Alzheimer's disease prevention. It functions as a dietary supplement and aids in boosting energy and enhancing cognitive function. MCT-containing accessories are acceptable for those with celiac disease, Crohn's disease, irritable bowel syndrome, etc.
As new competitors enter the market and current players continue to develop and broaden their product offerings, the competitive environment of the market is anticipated to get even fiercer in the upcoming years.
The German Federal Ministry for Economic Cooperation and Development has asked industry participants BASF SE, P&G, and Cargill, Inc. to form a cooperation in order to create a sustainable supply chain for coconut oil in the Philippines and Indonesia.
Recent Development
The market is estimated to achieve USD 1,570.42 million by 2033.
The market is forecast to exhibit a CAGR of 6.2% through 2033.
From 2018 to 2022, the global market exhibited a 4.4% CAGR.
The market is to reach USD 860.54 million by the end of 2023.
The United States market is to exhibit at a CAGR of 5.8%.
The liquid medium-chain triglycerides segment is set to increase at a CAGR of 4.2%.
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Medium-Chain Triglycerides Market
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