The Increasing trend of adoption of a healthy lifestyle by consumers is expected to drive medium-chain triglycerides (MCT) based on dietary and health supplements consumption during the forecast period.
JERSEY CITY, N.J., June 28, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Medium Chain Triglycerides Market" By Source (Coconut, Palm), By Form (Dry, Liduid), By Fatty Acid Type (Caprylic Acid, Caproic Acid), By Application (Nutritional Diet, Personal Care), and By Geography. According to Verified Market Research, the Medium Chain Triglycerides Market size was valued at USD 753 Million in 2021 and is projected to reach USD 1,379 Million by 2030, growing at a CAGR of 6.4% from 2022 to 2030.
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Global Medium Chain Triglycerides Market Overview
Medium-chain triglycerides are gaining popularity among athletes to enhance performance. Medium Chain Triglyceride supplements are proved useful in treating the causes of diarrhea, steatorrhea, and patients undergoing stomach or bowel surgery. The health benefits of medium-chain triglycerides and their increasing awareness among consumers drive the Medium Chain Triglycerides Market growth.
In addition, the growing demand for dietary supplements in the Asia Pacific, due to rising consumer awareness coupled with the growing retail sector is expected to drive the growth of the Medium Chain Triglycerides Market in the region over the forecast period. For instance, according to India Brand Equity Foundation (IBEF)-a Trust established by the Department of Commerce, Ministry of Commerce and Industry, and Government of India-the retail market in India are expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, due to rising disposable income, urbanization, and attitudinal shifts. Asia Pacific is expected to exhibit a CAGR of 8.53% over the forecast period and is expected to reach US$ 729.4 million by 2025. Furthermore, key factors such as favorable growth in sports activities across regions, a rise in strategic marketing activities by leading manufacturers to build a larger consumer base, and increasing demand for functional food supplements are expected to fuel the growth of the market.
Key Developments
- On March 2021, BASF sign two distinct partnership agreements to expand its global leading position in the bio-based surfactants and actives market. The strategic alliance with ACS includes an equity stake and makes BASF the single largest shareholder.
- On January 2020, BASF closed the acquisition of Solvay's polyamide (PA 6.6) business. The transaction broadens BASF's polyamide capabilities with innovative and well-known products such as Technyl.
- On May 2021, BASF launches a new fungicide solution based on Revysol in China. Shanghai, China.
Key Players
The major players in the market are 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, The Procter & Gamble Company.
Verified Market Research has segmented the Global Medium Chain Triglycerides Market On the basis of Source, Form, Fatty Acid Type, Application, and Geography.
- Medium Chain Triglycerides Market, By Source
- Coconut
- Palm
- Others
- Medium Chain Triglycerides Market, By Form
- Dry
- Liquid
- Medium Chain Triglycerides Market, By Fatty Acid Type
- Caprylic Acid
- Caproic Acid
- Capric Acid
- Lauric Acid
- Medium Chain Triglycerides Market, By Application
- Nutritional Diet
- Personal Care
- Pharmaceuticals
- Sports Drinks
- Infant Formula
- Others
- Medium Chain Triglycerides Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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