The global Medium-chain triglycerides market size is projected to reach USD 1034 million by 2026, recording a CAGR of 6.3% during the forecast period. The global market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. Prominent companies are well-established, financially stable players who have been operating in the industry for several years and have a diversified product portfolio, proprietary technologies, and strong distribution networks globally and offices at strategic locations. Some of the prominent companies are DuPont (US), Cargill (US), and Kerry (Ireland), as they operate under the advantages of economies of scale required to remain profitable.
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Medium-chain triglycerides are often used in nutritional diets, infant formulas, functional foods, pharmaceutical products, personal care products, sports drinks, and dietary supplements, as they rapidly generate energy and enhance the endurance of human body. These triglycerides are rapidly broken down and easily absorbed in the human body due to their shorter chain length of fatty acids, making them less likely to be stored as body fat. This also helps with instant energy generation in the body. Extremely low-carb or ketogenic diets are efficient ways of weight reduction, and these triglycerides can be added in such diets as they produce ketones.
Due to the aforesaid benefits, medium-chain triglycerides are becoming popular among consumers who are health conscious and inclined toward healthy eating habits, resulting in their increased demand.
According to FAOSTAT, the global natural and organic beauty market is estimated to be valued at USD 24 billion in 2024. Over years, the preference for natural products over artificial chemicals has increased in the beauty and personal care industry. Factors such as the increasing millennial population, specifically in the Asia Pacific region, and use of the Internet, growing per capita income, a rising awareness regarding sustainable and environment-friendly products have together driven the market for organic cosmetics and personal care products. This has resulted in an increase in the demand for specialty ingredients such as palm oil and coconut oil for use in the beauty and personal care industries in recent years.
Citing the significant growth of the organic beauty and personal care markets, some of the key manufacturers are now investing in and developing innovative cosmetic products that serve the requirements of target customers. In 2018, Malaysia-based IOI Corporation opened a formulation and multinational CARE studio in Hamburg, Germany, where the company aimed at developing natural cosmetic products with the help of palm oil-based natural fatty acids. Similarly, in 2015, Natural Sourcing, one of the key suppliers of natural ingredients to the cosmetics industry, announced the launch of a new line of strawberry specialty oil as a skincare product. Thus, the rising demand for natural cosmetic products paves the way for the growth of the medium-chain triglycerides market in the beauty and personal care application sector.
Medium-chain triglyceride powder is a white or off-white and free-flowing powder with water solubility capabilities. This powder is derived from sources such as coconut oil, palm oil, or palm kernel oil. It is used in combination with other nutritional ingredients to produce various nutritional formulas, such as infant formula, products for weight management, and sports nutrition.
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The coconut segment dominated the market and accounted for USD 303 million and a market share of 42.2% in 2020, owing to rising preferences of consumers for more natural food products. In coconut oil, about half of the fatty acids are lauric acid. As the primary source for MCT oil, more than 60 percent of the fatty acids in coconut oil are MCTs. Coconut oil is one of the most important raw materials for the medium-chain triglycerides industry, as its fatty acid composition is used as a starting block for many Medium-chain triglycerides products. The oil also has health benefits that include cholesterol-lowering effects, regulating blood pressure, reduction of risks of cardiovascular diseases (CVDs), weight loss, improvement of cognitive functions, actions as an antimicrobial agent, and others.
