The medium-chain triglycerides market is projected to reach USD 1034 million by 2026, at a CAGR of 6.3% from 2021 to 2026. With the rise in demand and preference for organic food products, medium-chain triglyceride manufacturers have been strategizing on developing innovative products at a reasonable price. The surge in global Internet penetration would be another influential trend in driving the market in terms of sales. Manufacturers and distributors are using the Internet to spread awareness about their products and services among target consumers and simultaneously generate sales. Medium-chain triglycerides are used in various end-user industries, such as nutritional supplements, infant formula, cosmetics & personal care, and pharmaceuticals.
The caprylic acid segment dominated the market with a share of 50.4% in 2020, in terms of value as Caprylic acid does not have an offensive taste or smell. Thus, it is often the primary MCT used in MCT oil. Caprylic triglyceride is a compound that comes from combining fatty acids with glycerin. The fatty acids in the compound are medium-chain triglycerides (MCTs). Caprylic acid is also known for its antiviral, antibacterial and antifungal properties, and can help treat skin disorders and acne. It’s also useful for treating urinary tract infections, bladder infections, STIs, and even gingivitis. It also helps to burn excess calories, which in turn leads to weight loss. The liver finds it easy to break down, or oxidize, MCFAs such as caprylic acid. This faster rate of oxidation leads to a higher rate of energy expenditure.
The nutritional supplements segment accounted for the major share of 25.9% in 2020, with a total value of USD 186.5 million. Medium-chain triglycerides aid in weight loss by reducing calorie intake and fat storage and increasing fullness, calorie burning, and ketone levels on low-carb diets.
China accounted for about 31.1% of the medium-chain triglycerides market in the Asia Pacific region in 2020, in terms of value, making it one of the most robustly growing markets in the region. The demand for medium-chain triglycerides is increasing in China due to changing lifestyles of consumers and preferences. The increasing purchasing power of consumers due to the economic development in China has led to the increase in demand for high-quality processed foods, nutritional diet, personal care, and cosmetics products. Hence, the market for medium-chain triglycerides is projected to increase as it is an essential additive in nutritional supplements, infant formula, sports drinks, pharmaceuticals, personal care, and other applications. The country has witnessed an increase in the number of chronic disease incidences, thereby propelling the market for functional food ingredients. According to the WHO, in 2019, the prevalence of diabetes, heart diseases, and cancer, in the country rose nine-fold within a single generation and faster than the global average rate.
Key players in this market include BASF SE (Germany), Koninklijke DSM N.V. (the Netherlands), Dupont(US), Lonza Group Ltd(Switzerland), Musim Mas Holdings(Singapore), Croda International Plc(UK), P&G Chemicals (US), Acme-Hardesty Company(Bluebell, PA), Wilmar International Limited( Singapore), Stepan Company (US), Sternchemie GmbH & Co. KG(Germany), Emery Oleochemicals Group(US), KLK Oleo(Malaysia), Nutricia(New Zealand), Connoils (US), Now foods(US), Barleans (Washington), Jarrow formula’s(US), Nutiva(US), Henry Lamotte Oils GmbH (Germany).