Medium chain triglycerides are used in a wide range of applications such as dietary nutrition, cosmetic & personal care, infant nutrition, sports drinks, and others. The rising growth of the cosmetic and personal care and pharmaceutical industry across the globe is substantially contributing to the growth of the medium chain triglyceride market share. The growing awareness about the health benefits of medium chain triglyceride along with the growing usage of the product by athletes owing to its excellent fat burning abilities is expected to surge the market demand.
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Market Segmentation
The global medium chain triglycerides market is segmented into the source, form, fatty acid type, and application. On the basis of the source, the market is segregated into coconut, palm, and others. The market by form is bifurcated into dry form and liquid form. On the basis of the fatty acid type, the global market can be segregated into caprylic acid, capric acid, lauric acid, and caproic acid. On the basis of the application, the market is further segmented into dietary supplements, cosmetic & personal care, pharmaceuticals, sports drinks, infant nutrition, and others.
Market Scenario
Among the various applications of the medium chain triglyceride, the dietary supplement segment was the largest segment in 2016 and is expected to show the same trend during the forecast years. The health benefits of medium chain triglyceride, such as reducing hormonal imbalances, weight gain, gut problems, and cognitive disorders among others, are positively affecting the growth of the segment.
The global medium chain triglyceride market share is spanned across five key regions:, Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific is expected grow at an expanding CAGR during the forecast period.. The grwoing development of the cosmetic & personal care industry along with the pharmaceutical industry is anticipated to fuel the demand for medium chain triglyceride in the region. Moreover, the rising instances of malnutrition in Asia Pacific region are projected to further fuel the market growth during the review period.
The European region is estimated to witness steady growth owing to growing consumption of medium chain triglyceride from the cosmetic and personal care industry. Moreover, the growing usage of medium chain triglyceride as fat burners by atheletes is another major factor positively effecting the market growth.The North American medium chain triglyceride market share is mainly driven by the U.S. and Canada. The presence of the developed end-user industries coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing prevalence of obesity and other lifestyle diseases are expected to propel the growth of the market.
Competitive Analysis
Some of the prominent players operating in the global medium chain triglycerides market are Sternchemie GmbH & Co KG (Germany), Emery Oleochemicals (U.S.), KLK Oleo (Malaysia), BASF SE (Germany), DuPont (U.S.), Wilmar International Ltd (Singapore), Stepan Company (U.S.), Sternchemie Lipid Technology (Germany), Jarrow Formulas (U.S), and ABITEC (U.S) among others
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