Medium Chain Triglycerides (MCT) Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.42 Billion |
| Market Size (2029) | USD 2.11 Billion |
| CAGR (2024 - 2029) | 8.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players_-_Major_Players.webp "Medium Chain Triglycerides (MCT) Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Medium Chain Triglycerides (MCT) Market Analysis
The Medium Chain Triglycerides Market size is estimated at USD 1.42 billion in 2024, and is expected to reach USD 2.11 billion by 2029, growing at a CAGR of greater than 8.20% during the forecast period (2024-2029).
- The increasing demand for dietary supplements in food and the rising penetration of medium-chain triglycerides (MCTs) in personal care and cosmetics products are expected to drive the market during the forecast period.
- Conversely, the availability of substitutes, such as mineral oil, can hinder the market's growth.
- The globally surging demand for natural and organic beauty products is likely to act as an opportunity for the market studied.
- North America accounts for the most demand in the market. However, Asia-Pacific is projected to experience the fastest growth globally owing to increasing consumption from countries such as China, India, South Korea, and Japan.
Medium Chain Triglycerides (MCT) Market Trends
Increasing Demand from Food and Beverages Segment
- Medium-chain triglycerides are produced by processing coconut and palm kernel oil. They comprise medium-chain fatty acids and are slightly yellowish. They are insoluble in water and are miscible with alcohol and methylene oxide.
- Driven by their benefits, such as aiding weight management, boosting metabolism to reduce stored body fat, enhancing digestion, and providing increased energy, medium-chain triglycerides are increasingly sought after as dietary fat substitutes, propelling the demand for the medium-chain triglycerides market.
- Additionally, the growing popularity of dietary or nutritional supplements among athletes, bodybuilders, and sportspeople, owing to their ability to enhance performance, is expected to impact the medium-chain triglycerides market positively. For instance, the 2023 CRN Consumer Survey on Dietary Supplements confirmed that 74% of US adults take dietary supplements, with 55% qualifying as regular users.
- Moreover, data from the National Nutrition Surveys (NNSs) published in December 2023 indicated that 30 European countries reported the intake of dietary supplements.
- As medium-chain triglycerides can help reduce boy fat, demand might grow substantially in the coming years owing to the growing obesity problem worldwide. For instance, as per the World Obesity Atlas 2023, by 2030, nearly 46% of the world population will count into the overweight or obese category.
- Given the abovementioned facts and figures, the demand for medium-chain triglycerides is expected to rise significantly in the food and beverage segment over the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to witness the fastest growth in the market for medium chain triglycerides during the forecast period. Countries like China, India, South Korea, and Japan have been experiencing increasing demand for medium-chain triglycerides such as caprylic, capric, and lauric owing to increasing demand from various end-user industries like personal care and cosmetics, pharmaceuticals, and food and beverages.
- Medium-chain triglycerides are used in sports drinks, nutritional bars, and energy foods. They are used as food emulsifiers, help enhance the properties of hot and cold beverages, and add distinct flavors to food products. Due to these factors, the demand for medium-chain triglycerides is increasing in the region, which will stimulate its market during the forecast period.
- For instance, according to Euromonitor International data, China's food industry sales surged to USD 328.7 billion in 2023, accounting for 40% of the Asia-Pacific market.
- Moreover, according to the All India Food Processors Association, the Indian food and beverage packaging industry is expected to reach USD 86 billion by 2029, registering a CAGR of 14.8% compared to its value of USD 32 billion in 2022. This is because of the expansion of the food and beverage sector in India.
- Furthermore, the increasing consumption of medium-chain triglycerides in cosmetics products like creams, lotions, gels, ointments, foams, and fragrances and flavorings is expected to further propel the medium-chain triglyceride market.
- Moreover, according to the India Brand Equity Foundation, the Indian beauty, cosmetics, and grooming market will reach USD 20 billion by 2025.
- Furthermore, South Korea has one of the most advanced beauty markets in the world. New beauty trends and innovations featuring sophisticated ingredients and aesthetically appealing packaging are constantly on display. As reported by the Observatory of Economic Complexity, South Korea's exports of perfumery and cosmetics rose by USD 20.6 million, climbing from USD 731 million in June 2023 to USD 752 million in June 2024.
- The aforementioned factors, along with the quick development of the countries in the region, are expected to contribute to the increasing demand for medium-chain triglycerides during the forecast period.
Medium Chain Triglycerides (MCT) Industry Overview
The global medium-chain triglyceride (MCT) market is fragmented. Some of the key companies in the market include (not in any particular order) Wilmar International Ltd, IOI Oleo GmbH, Musim Mas Group, KLK EMMERICH GmbH, and The Nisshin OilliO Group Ltd.
Medium Chain Triglycerides (MCT) Market Leaders
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Wilmar International Ltd
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The Nisshin OilliO Group, Ltd.
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IOI Oleochemical
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KLK EMMERICH GmbH
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Musim Mas Group
*Disclaimer: Major Players sorted in no particular order
_Market_-_Market_Concentration.webp "Medium Chain Triglycerides (MCT) Market Concentration")
Medium Chain Triglycerides (MCT) Market News
- June 2024: Azelis, a prominent player in the specialty chemicals and food ingredients sector, signed a distribution deal with BASF Corporation. Under this agreement, Azelis will distribute a variety of BASF products, including emulsifiers, ,edium-chain triglyceride (MCT), phytosterol ester, and conjugated linoleic acid (CLA). These products find common applications in bakery items, beverages, and nutritional enhancements for both the retail and food service sectors.
- February 2022: IOI Oleo, the parent company of IOI Oleo GmbH, partnered with DKSH. DKSH will provide business development, marketing, sales, logistics, and distribution services for IOI Oleo's oleochemical specialties in Australia, New Zealand, the Philippines, Taiwan, South Korea, and Vietnam.
Medium Chain Triglycerides (MCT) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand for Dietary Supplements in Food
- 4.1.2 Rising Penetration of MCTs in Personal Care and Cosmetics Products
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4.2 Restraints
- 4.2.1 Availability of Substitutes such as Mineral Oil
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 By Form
- 5.1.1 Dry
- 5.1.2 Liquid
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5.2 By Fatty Acid Type
- 5.2.1 Caprylic Acid
- 5.2.2 Capric Acid
- 5.2.3 Lauric Acid
- 5.2.4 Caproic Acid
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5.3 By Application
- 5.3.1 Food and Beverages
- 5.3.2 Personal Care and Cosmetics
- 5.3.3 Other Applications
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5.4 By Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Malaysia
- 5.4.1.6 Thailand
- 5.4.1.7 Indonesia
- 5.4.1.8 Vietnam
- 5.4.1.9 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Spain
- 5.4.3.6 Nordic Countries
- 5.4.3.7 Turkey
- 5.4.3.8 Russia
- 5.4.3.9 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Colombia
- 5.4.4.4 Rest of South America
- 5.4.5 Middle East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 Qatar
- 5.4.5.3 United Arab Emirates
- 5.4.5.4 Nigeria
- 5.4.5.5 Egypt
- 5.4.5.6 South Africa
- 5.4.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ABF Ingredients
- 6.4.2 Acme-Hardesty
- 6.4.3 Barlean's Organic Oils LLC
- 6.4.4 BASF Corporation
- 6.4.5 ConnOils By Kraft
- 6.4.6 CREMER OLEO GmbH & Co. KG
- 6.4.7 Croda International Plc
- 6.4.8 DuPont
- 6.4.9 Henry Lamotte Oils GmbH
- 6.4.10 IOI Oleo GmbH
- 6.4.11 Jarrow Formulas Inc.
- 6.4.12 KLK EMMERICH GmbH
- 6.4.13 Musim Mas Group
- 6.4.14 Vitaflo International Ltd
- 6.4.15 Oleon NV
- 6.4.16 Procter & Gamble
- 6.4.17 Stepan Company
- 6.4.18 Sternchemie GmbH & Co. KG
- 6.4.19 The Nisshin OilliO Group Ltd
- 6.4.20 Wilmar International Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Surging Demand for Natural and Organic Beauty Products
Medium Chain Triglycerides (MCT) Industry Segmentation
Medium-chain triglycerides (MCTs) are a type of fatty acid derived from coconut oil or palm kernel oil. They are called "medium chain" because they have a shorter chain length than most other fatty acids. These can be used to make dietary supplements, bakery goods, beverages, dairy products, skincare products, and hair care products. Moreover, they can used as an excipient in drug formulations.
The medium chain triglycerides (MCT) market is segmented by form, fatty acid type, application, and geography. By form, the market is segmented into dry and liquid. By fatty acid type, the market is segmented into caprylic acid, capric acid, lauric acid, and caproic acid. By application, the market is segmented into food and beverages, personal care and cosmetics, and other applications (pharmaceuticals, etc.). The report also covers the market size and forecasts for the medium chain triglycerides (MCT) market in 27 countries across major regions. For each segment, the market sizing and forecasts were made on the basis of value (USD).
| By Form | Dry | |
| Liquid | ||
| By Fatty Acid Type | Caprylic Acid | |
| Capric Acid | ||
| Lauric Acid | ||
| Caproic Acid | ||
| By Application | Food and Beverages | |
| Personal Care and Cosmetics | ||
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Nordic Countries | ||
| Turkey | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| Qatar | ||
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle East and Africa |
Medium Chain Triglycerides (MCT) Market Research FAQs
How big is the Medium Chain Triglycerides Market?
The Medium Chain Triglycerides Market size is expected to reach USD 1.42 billion in 2024 and grow at a CAGR of greater than 8.20% to reach USD 2.11 billion by 2029.
What is the current Medium Chain Triglycerides Market size?
In 2024, the Medium Chain Triglycerides Market size is expected to reach USD 1.42 billion.
Who are the key players in Medium Chain Triglycerides Market?
Wilmar International Ltd, The Nisshin OilliO Group, Ltd., IOI Oleochemical, KLK EMMERICH GmbH and Musim Mas Group are the major companies operating in the Medium Chain Triglycerides Market.
Which is the fastest growing region in Medium Chain Triglycerides Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Medium Chain Triglycerides Market?
In 2024, the North America accounts for the largest market share in Medium Chain Triglycerides Market.
What years does this Medium Chain Triglycerides Market cover, and what was the market size in 2023?
In 2023, the Medium Chain Triglycerides Market size was estimated at USD 1.30 billion. The report covers the Medium Chain Triglycerides Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Medium Chain Triglycerides Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Medium Chain Triglycerides Industry Report
The report covers a comprehensive market analysis of the Medium Chain Triglycerides (MCT) market, segmented by form, fatty acid type, application, and geography. It includes a detailed industry analysis and market forecast, offering insights into market trends and market growth. The market report provides a historical overview and a market forecast outlook, highlighting the market size and market share of MCT.
The industry report also delves into various applications such as food and beverages, personal care and cosmetics, and other applications, providing an in-depth market review. The report example includes market segmentation and market value, offering industry statistics and market data. The industry research covers different regions, including Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.
In addition, the industry outlook and market predictions are discussed, along with industry trends and market leaders. The report pdf is available for download, providing valuable industry information and industry sales figures. The market overview includes a comprehensive analysis of the market leaders and their market share, along with market growth rate and market outlook.
Overall, the report provides a thorough industry overview, supported by industry reports and research companies, ensuring a complete understanding of the Medium Chain Triglycerides market.
