Medium-Chain Triglycerides Market size to reach $2.5 Bn by 2032

Medium-Chain Triglycerides Market size is expected to cross USD 2.5 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Rapidly surging demand for cosmetics and personal care products driven by the rising disposable incomes and improving living standards across developing economies will complement the industry outlook. Over the past few years, the preference for luxury beauty products and medicative cosmetics has experienced a significant rise, particularly across APAC countries due to the growing concerns associated with hair and skin problems. Moreover, the fast-paced penetration of skincare trends, such as organic personal care products and plant-based cosmetics worldwide will further influence the industry growth.  
 

Growing interest in coconut-based sources to boost MCT production

Medium-chain triglycerides market from the coconut source segment is predicted to surpass USD 1.4 billion by 2032. The increasing use of coconut to manufacture MCT oil can be attributed to the high content of medium-chain fatty acids to provide ample health benefits and the ability to fight different medical conditions. Coconut and coconut-based products have emerged as popular at-home remedies for different health problems and are extensively used in cooking, beauty, and skincare. Coconut oil as well as MCT oil derived from coconut are also known to affect weight management along with providing a spectrum of health benefits.
 

Growing consumption of MCT supplements to limit digestive disease burden to propel the market trends

The medium-chain triglycerides market from nutraceutical supplements segment will worth over USD 1.5 billion by 2032. MCT is extensively used to produce nutraceuticals and dietary supplements such as energy bars, tablets, gummies, capsules, and powder shakes due to its ability to easily dissolve in blood without being stored as fats in the body. Lately, supplements containing high proportions of MCT are widely consumed as they enable effective management of gastrointestinal problems and help inhibit the overgrowth of yeast, and bacteria in the gut. As per a pan-European study on the burden of digestive illnesses published in the United European Gastroenterology Journal in October 2022, the estimated cost of inpatient health services for digestive diseases across the EU exceeded around USD 20 billion in 2021.
 

Browse key industry insights spread across 188 pages with 161 market data tables and 30 figures & charts from the report, “Medium-chain Triglycerides Market Size By Source (Coconut, Palm), By Application (Nutritional Supplements, Food & Beverage, Pharmaceutical, Cosmetics & Personal Care), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medium-chain-triglycerides-market
 

Rising geriatric population to drive medium-chain triglycerides demand in North America

North America medium-chain triglycerides market is slated to grow at a CAGR of 6% CAGR between 2023 and 2032, driven by the surging need for MCTs across the pharmaceutical, nutraceutical, personal care, and food production sectors. The growing geriatric population in the U.S. and Canada will also foster substantial preference for fortified foods and supplements.
 

According to projections from Statistics Canada, the elderly population aged 65 years and above in Canada is set to witness a 49% growth, exceeding 10.5 million by 2042. Furthermore, the high per capita healthcare expenditure in the U.S. and the increasing consumer demand for organic products will have a positive influence on the MCT industry outlook in North America.
 

Business expansion strategies to boost medium-chain triglycerides industry development

Major players involved in the medium-chain triglycerides market are BASF, Lonza, Dupont, Croda International, Acme Hardesty, P&G Chemicals, Stepan Company, KLK OLEO, and Sternchemie GMNH & CO. KG. These companies are focusing on the expansion of their production capacities and businesses to achieve a competitive advantage over their peers.
 

For instance, in January 2022, Acme Hardesty unveiled a new Strategic Business Unit (SBU), established to expand the company’s presence across the animal feed & supplements, nutritional supplements, pharmaceutical ingredients, and food & beverage industries.