Medium Chain Triglycerides Market Size, Share, Growth Analysis, By Source(Coconut Oil, Palm Kernel Oil, and Others), By Form(Powder, and Liquid), By Application(Dietary & Health Supplements, Personal Care & Cosmetics, Pharmaceuticals, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2237 | Region: Global | Published Date: March, 2024
Pages: 184 |Tables: 90 |Figures: 76

Medium Chain Triglycerides Market Insights

Global Medium Chain Triglycerides Market size was valued at USD 2.07 Billion in 2022 and is poised to grow from USD 2.21 Billion in 2023 to USD 3.74 Billion in 2031, at a CAGR of 6.8% during the forecast period (2024-2031).

A rise in living and customer acceptance of a healthy lifestyle are expected to be the primary drivers of the consumption of dietary and medical supplements based on medium-chain triglyceride (MCT) over the projected period.

MCTs are partially generated lipids with chains that are between 6 and 10 carbons long. MCTs include caproic acids, caprylic acid, capric acids, and lauric acid. Typically, vegetable oils like soybean, rapeseed, coconuts, palm kernel, & sunflower are used to make the product. According to reports, coconut oil is the primary source of MCT extraction. Palm kernel oil is the second most favored raw material after coconut oil in the production of MCTs, making up around 34.0% of the total.

Several small-scale market participants advertise items infused with coconut oil as MCT-infused products. It is believed that this could hinder market growth because medium-chain triglyceride and coconut oil are confusing to customers. The main distinction among the two is that while particular MCTs are derived from other fats, coconut oil also contains MCTs.

Capric and caprylic acid are separated from the other fats in the vegetable oils during the fractionation process, which is the method used to make MCTs for commercial use. Through lipase esterification, triglycerides are produced from the extracted product. The final item is provided as a finished good for consumption following a number of quality checks.

Additionally, the extracted product has a 5:2 ratio for each and a higher content of caprylic acid and capric acid compared to other glycerides. However, caproic acid is typically taken out of the residual product due to its disagreeable taste and odor. Additionally, the benefits of lauric acid (C12), which is typically absent from products marketed on the market, are controversial.

Market Snapshot - 2024-2031

Global Market Size

USD 2.07 Billion

Largest Segment

Coconut Oil

Fastest Growth

Coconut Oil

Growth Rate

6.8% CAGR

Global Medium Chain Triglycerides Market ($ Bn)
Country Share for North America Region (%)

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Medium Chain Triglycerides Market Segmental Analysis

The global medium chain triglycerides market is categorized into source, form, application, and region. Based on source, the market is segmented into coconut oil, palm kernel oil, and others. Based on form, the market is divided into powder, and liquid. Based on application, the market is segmented into dietary & health supplements, personal care & cosmetics, pharmaceuticals, and others. Based on region the global medium chain triglycerides market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Application

The largest application segment, that of dietary and health supplements, accounted for about 57.0% of the total revenue. Medium chain triglycerides are a common ingredient in the creation of many health and dietary supplements due to its ability to minimize and prevent the formation of a number of ailments, including cardiovascular, Alzheimer's disease, Chyle Leaks, or gastrointestinal problems. Regular consumption of medium chain triglycerides increases metabolism, reduces fat deposition in adipose tissue, and promotes reduced food intake, all of which contribute to a drop in the prevalence of obesity. It is also used to make sports nutrition supplements, which are used during workouts to boost endurance, lower body fat, and build more lean muscle mass.

Due to its antioxidant, anti-inflammatory, & anti-microbial qualities, MCTs are progressively gaining popularity in the fields of personal care and cosmetics. In numerous cosmetic compositions, such as perfumes, lipsticks, creams, sunscreens, bath oils, & body lotions, the product is primarily employed as an emollient, viscosity regulator, & carrier for active ingredients. Products with MCTs provide the skin with moisture and a smooth texture. It also helps to minimize the negative effects of aging on the skin. The chemical functions as a non-comedogenic element in cosmetics, which prevents pore-clogging and enhances skin properties.

MCT-infused cosmetics are excellent for those with sensitive skin because they contain natural components, which are less damaging to the skin. Additionally, due to its lighter weight, lack of color, odor, and extended shelf life, the product is frequently utilized in aromatherapy. However, the usage of medium chain triglycerides is still in its infancy and offers greater opportunity for new players in the medium chain triglycerides industry.

Global Medium Chain Triglycerides Market By Source

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Medium Chain Triglycerides Market Regional Insights

North America accounted for about 35.0% of market volume, and it is expected that it is going to retain its dominance over the following years. The millennial generation is primarily to blame for the region's increasing product demand because of their growing interest in functional meals, beverages, and nutritional supplements. There are several reputable beverage manufacturers in the region, which is headed by the United States.

The Asia Pacific region is anticipated to grow significantly over the course of the forecast period as a result of an increase in the demand for nutritional supplements & increased moderate-chain triglyceride usage in the nutraceutical industry. The region's market is also distinguished by a sizable youth population that is expected to promote the use of MCTs in nutritional supplements and sports drinks. China Hemp, Scion Chemical Pvt. Ltd., Stepan Company, and Bioregional Food & Science Corp. are among the leading market participants in the area, and their presence is expected to increase customer awareness of the benefits of the product and increase demand.

Global Medium Chain Triglycerides Market By Geography
  • Largest
  • Fastest

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Medium Chain Triglycerides Market Dynamics

Drivers

Increasing Demand in Various Industries

  • MCTs have gained popularity across various industries, including food and beverage, dietary supplements, pharmaceuticals, and cosmetics. The versatility of MCTs in these sectors, as a dietary fat source, energy booster, emulsifier, and carrier for active ingredients, drives the demand for MCT products.

Restraints

Price Volatility of Raw Materials

  • The price volatility of raw materials used in the production of MCTs, such as coconut oil and palm kernel oil, can impact the overall cost of MCT products. Fluctuations in raw material prices can pose challenges to manufacturers and may affect the affordability and profitability of MCTs.

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Medium Chain Triglycerides Market Competitive Landscape

The market is very fragmented, and the dominant firms have been there for a very long time. Due to the rising demand for health supplements, it is anticipated that the rivalry would worsen throughout the anticipated time. Additionally, the existence of significant and long-standing players has increased market competition to a high degree.

The majority of players are backward integrated & concentrated on acquiring sustainable raw materials, which helps to lower production costs. In order to create a sustainable supply chain for coconut oil in the Philippines & Indonesia, industry participants like BASF SE, P&G, and Cargill, Inc. have joined forces. This alliance was requested by the German Federal Ministry for Development and Economic Cooperation (BMZ).

Top Player’s Company Profiles

  • KLK Oleo
  • Wilmar International Ltd.
  • Sternchemie GmbH & Co. KG
  • Stepan Company
  • Nutricia Advanced Medical Nutrition
  • Kerry Group
  • Jarrow Formulas, Inc.
  • NOW Foods
  • Lonza Group Ltd.
  • Nutiva Inc.
  • Koninklijke DSM N.V.
  • MusclePharm Corporation
  • ABITEC Corporation
  • Emery Oleochemicals
  • Peter Cremer Holding GmbH & Co. KG
  • AAK AB
  • Oleon NV

Recent Developments

  • Three professional athletes established the food technology company 4GOLD in July 2023. Together, they unveiled a novel lipid supplement called LiFT, which blends medium-chain and long-chain triglycerides (MCTs) to facilitate continuous energy release and enhance athletic performance.

     

  • Croda International Plc becomes a member of the World Business Council for Sustainable Development on October 10, 2022. Croda won Business of the Year at the World Sustainability Awards after its science-based goals to cut carbon emissions in line with the 1.5°C scenario were successfully achieved.

Medium Chain Triglycerides Key Market Trends

  • Increasing Demand for Clean Label and Natural Products: Consumers are increasingly seeking clean label and natural products, including MCTs. There is a growing preference for MCTs derived from natural sources such as coconut oil, as they are perceived to be healthier and more sustainable.
  • Rising Adoption in Sports Nutrition and Weight Management: MCTs have gained significant traction in the sports nutrition and weight management sectors. Their ability to provide quick energy, support fat burning, and aid in muscle recovery makes them popular among athletes, fitness enthusiasts, and individuals following ketogenic or low-carb diets.
  • Expansion of Applications in the Food and Beverage Industry: MCTs are being used in a wide range of food and beverage applications, including bakery products, beverages, dairy alternatives, and confectionery. The functional properties of MCTs, such as improved texture, enhanced flavor, and extended shelf life, make them valuable ingredients in food formulation.
  • Growing Demand for Convenience and On-the-go Products: The busy lifestyles of consumers have led to an increased demand for convenient and on-the-go products. MCTs are being incorporated into various portable formats, such as snack bars, ready-to-drink beverages, and meal replacement shakes, to cater to the needs of time-conscious consumers.
  • Shift toward Sustainable and Ethical Sourcing: With the rising focus on sustainability and ethical sourcing, there is a growing demand for MCTs derived from sustainable and responsibly sourced raw materials. Consumers and manufacturers are increasingly seeking MCT products with certifications such as organic, fair trade, or RSPO (Roundtable on Sustainable Palm Oil).

Medium Chain Triglycerides Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global medium chain triglycerides market analysis, the rise in living and customer acceptance of a healthy lifestyle are expected to be the primary drivers of the consumption of dietary and medical supplements based on medium-chain triglyceride (MCT) over the projected period. Consumers are increasingly seeking clean labels and natural products, including MCTs. There is a growing preference for MCTs derived from natural sources such as coconut oil, as they are perceived to be healthier and more sustainable. Regionwise, North America holds the dominant position with Asia Pacific in close competition.

Report Metric Details
Market size value in 2031 USD 2.07 Billion
Growth Rate 6.8%
Forecast period 2024-2031
Segments covered
  • Source
    • Coconut Oil, Palm Kernel Oil, and Others
  • Form
    • Powder, and Liquid
  • Application
    • Dietary & Health Supplements, Personal Care & Cosmetics, Pharmaceuticals, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • KLK Oleo
  • Wilmar International Ltd.
  • Sternchemie GmbH & Co. KG
  • Stepan Company
  • Nutricia Advanced Medical Nutrition
  • Kerry Group
  • Jarrow Formulas, Inc.
  • NOW Foods
  • Lonza Group Ltd.
  • Nutiva Inc.
  • Koninklijke DSM N.V.
  • MusclePharm Corporation
  • ABITEC Corporation
  • Emery Oleochemicals
  • Peter Cremer Holding GmbH & Co. KG
  • AAK AB
  • Oleon NV
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Medium Chain Triglycerides Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Medium Chain Triglycerides Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Medium Chain Triglycerides Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medium Chain Triglycerides Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medium Chain Triglycerides Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Medium Chain Triglycerides Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Medium Chain Triglycerides Market size was valued at USD 2.07 Billion in 2022 and is poised to grow from USD 2.21 Billion in 2023 to USD 3.74 Billion in 2031, at a CAGR of 6.8% during the forecast period (2024-2031).

The market is very fragmented, and the dominant firms have been there for a very long time. Due to the rising demand for health supplements, it is anticipated that the rivalry would worsen throughout the anticipated time. Additionally, the existence of significant and long-standing players has increased market competition to a high degree. 'IOI Oleochemicals', 'BASF SE', 'Croda International PLC', 'KLK Oleo', 'Wilmar International Ltd.', 'Sternchemie GmbH & Co. KG', 'Stepan Company', 'Nutricia Advanced Medical Nutrition', 'Kerry Group', 'Jarrow Formulas, Inc.', 'NOW Foods', 'Lonza Group Ltd.', 'Nutiva Inc.', 'Koninklijke DSM N.V.', 'MusclePharm Corporation', 'ABITEC Corporation', 'Emery Oleochemicals', 'Peter Cremer Holding GmbH & Co. KG', 'AAK AB', 'Oleon NV'

MCTs have gained popularity across various industries, including food and beverage, dietary supplements, pharmaceuticals, and cosmetics. The versatility of MCTs in these sectors, as a dietary fat source, energy booster, emulsifier, and carrier for active ingredients, drives the demand for MCT products.

Increasing Demand for Clean Label and Natural Products: Consumers are increasingly seeking clean label and natural products, including MCTs. There is a growing preference for MCTs derived from natural sources such as coconut oil, as they are perceived to be healthier and more sustainable.

North America accounted for about 35.0% of market volume, and it is expected that it is going to retain its dominance over the following years. The millennial generation is primarily to blame for the region's increasing product demand because of their growing interest in functional meals, beverages, and nutritional supplements. There are several reputable beverage manufacturers in the region, which is headed by the United States.

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