by Medium-chain triglycerides (MCTs) are substances naturally found in certain foods such as coconut oil and butter. They are used in various medical applications such as a dietary supplement or prescription drug due to their ability to provide quick energy, improve cognitive functions and assist weight loss programs.
The global Medium chain Triglycerides Market is estimated to be valued at US$ 860.54 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Growing medical applications of MCTs is driving the global medium chain triglycerides market. MCTs have various therapeutic uses such as in treatment of malnutrition, various digestive disorders and lung diseases. They are increasingly being used in production of infant formulas and medical foods as well as supplements targeting specific health conditions. Recent clinical studies highlighting benefits of MCTs in promoting brain health and preventing neurodegenerative diseases such as Alzheimer’s have further accelerated their use in pharmacological applications. This growing emphasis on therapeutic uses of MCTs is expected to boost demand over the forecast period.
SWOT Analysis
Strength: Medium chain triglycerides are easily digestible and have health benefits like weight management and improving metabolism. They serve as an alternative to long chain triglycerides.
Weakness: Availability of substitutes like coconut oil and palm kernel oil which also have medium chain fatty acids limits the growth potential of the medium chain triglycerides market.
Opportunity: Rise in health consciousness among consumers is fueling the demand for healthy dietary fats. Increasing promotion of medium chain triglycerides in nutritional and dietary supplements also offers opportunities for market growth.
Threats: Stringent regulations regarding use of medium chain triglycerides in food products and fluctuations in raw material prices threaten the stability of medium chain triglycerides market.
Key Takeaways
The global medium chain triglycerides market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 860.54 Mn in 2024, growing at a CAGR of 6.2% during the forecast period.
Regional analysis
North America dominates the global medium chain triglycerides market currently due to rising awareness about health benefits of medium chain triglycerides among consumers in the region. The market in the region is expected to grow the fastest over the forecast period led by increasing usage of medium chain triglycerides in dietary supplements and functional foods.
Key players
Key players operating in the medium chain triglycerides market are BASF, Wilmar International Ltd, Avic Pharmaceutical, ABITEC Corporation, A&A Fratelli Parodi, Musim Mas, DuPont, Lonza, Procter & Gamble, Stepan Company. These companies are focusing on new product launches and capacity expansions to strengthen their market presence.
