The global medium chain triglycerides market is expected to rise to a valuation of USD 1359.25 million by the end of 2030, according to the latest research report from Market Research Future (MRFR). The global medium chain triglyceride industry is expected to exhibit a strong 6.80% CAGR over the forecast period from 2020 to 2030, according to the report. The report presents a detailed overview of the global medium chain triglyceride market by analyzing the market’s historical growth patterns. A detailed forecast for the market’s growth over the forecast period is further presented in the report on the basis of the accurate analysis of the market’s historical growth.
Medium chain triglycerides are vital nutrients needed in the human body for various purposes. Medium chain triglycerides are essential in maintaining top-notch operations in the brain, as well as helping preserve healthy skin. Other uses of medium chain triglycerides are as antioxidants, which may possibly have an anti-cancer function. Thus, medium chain triglycerides are vital as nutrients required in the human body. This has driven the demand for medium chain triglycerides from the food and beverage and nutraceutical industries, as manufacturers of packaged food and beverage products can promote the health benefits of foods and beverages containing medium chain triglycerides and attract new customers. The ease of incorporating medium chain triglycerides into packaged food and beverages has led to a growing demand for medium chain triglycerides from the food and beverage industry in recent years. The growing demand for dietary innovations that help prevent diseases rather than curing them has also been crucial for the global medium chain triglyceride market. The growing nutraceuticals industry is also likely to be a major driver for the global medium chain triglycerides market, as the widespread acceptance of nutraceutical products by consumers has resulted in easy visibility of medium chain triglyceride products.
The growing personal care products industry is also likely to be a major driver for the global medium chain triglyceride market over the forecast period. Medium chain triglycerides are often used as a lubricant in personal care products, leading to widespread demand for medium chain triglycerides in the pharmaceuticals and personal care products industries. The growing demand for personal care products such as soap, shampoos, and lotions and creams is likely to be a major driver for the global medium chain triglyceride market over the forecast period.
Competitive Analysis:
Leading players in the medium chain triglycerides market include Timur Oleochemicals Malaysia Sdn. Bhd., Procter Gamble Company, Lonza Group Ltd., Koninklijke DSM NV, Croda International plc, ABITEC, Jarrow Formulas, Sternchemie Lipid Technology, Stepan Company, Wilmar International Ltd., E.I. du Pont de Nemours and Company, BASF SE, KLK Oleo, Emery Oleochemicals, and Sternchemie GmbH Co KG.
Segmentation:
The global medium chain triglycerides market is segmented on the basis of form, source, type, application, and region.
By form, the global medium chain triglycerides market is segmented into dry and liquid.
By source, the global medium chain triglycerides market is segmented into palm kernel oil, coconut oil, and others.
By type, the global medium chain triglycerides market is segmented into caproic, caprylic, capric, and lauric.
By application, the global medium chain triglycerides market is segmented into food and beverages, pharmaceuticals, personal care products, and others. The food and beverage segment is likely to dominate the global market over the forecast period, followed by the pharmaceuticals and personal care products industries.
Regional Analysis:
North America is likely to dominate the global medium chain triglycerides market over the forecast period, led by the U.S. The growing demand from consumers for healthy foods and beverages that act as functional foods is the major driver for the medium chain triglycerides market in North America, especially the U.S. and Canada. Growing awareness about the benefits of medium chain triglycerides is also a major driver for the medium chain triglycerides market in North America.
Asia Pacific is the fastest growing regional market for medium chain triglycerides and is likely to hold an important role in the global market over the forecast period due to the high production of palms and coconuts in the region.
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