Market Trends of Medium Chain Triglycerides (MCT) Industry
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.
Understand The Key Trends Shaping This Market
Download PDF
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.
Get Analysis on Important Geographic Markets
Download PDF
