The Medium chain triglycerides Market is estimated to be valued at US$ 860.54 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medium-chain triglycerides, or MCTs, are triglycerides composed of fatty acid chains that contain 6-12 carbon atoms. MCTs are readily digestible and utilizable and are less likely to be stored as fat by the body. MCTs find applications in food and beverages, personal care products, and dietary supplements. They help in weight management, sports and clinical nutrition, and have beneficial effects in conditions like diabetes and cardiovascular diseases.
Market key trends:
The medium chain triglycerides market is witnessing high growth owing to growing demand for formulations for weight management and sports nutrition. MCTs are easily metabolized and provide energy without storing as fat. They increase the metabolism and help in weight loss. Thus, there is increased demand for MCTs in sports nutrition, weight management supplements, meal replacement shakes, and nutrition bars. Further, growing prevalence of lifestyle diseases like diabetes and cardiovascular diseases is also augmenting the demand for MCT-containing supplements and functional foods with proven clinical benefits.
Porter's Analysis
Threat of new entrants: New entrants face high production cost for establishing manufacturing facility of MCTs. Bargaining power of buyers: Large buyers can negotiate lower prices from suppliers but the market has several buyers. Bargaining power of suppliers: Suppliers have moderate bargaining power as production of MCT requires specific raw materials and manufacturing process. Threat of new substitutes: Substitutes like long chain triglycerides are available but MCTs have distinct properties for targeted applications. Competitive rivalry: Intense competition exists among existing players to gain higher market share.
SWOT Analysis
Strengths: Unique properties of MCTs for various applications in food & beverages and personal care industries. Weaknesses: Requirement of specific production techniques and raw materials increases costs. Opportunities: Growing demand from nutrition and supplements industry due to various health benefits. Threats: Stringent regulations pertaining to use of MCTs in various products and easy availability of substitutes.
Key Takeaways
The global medium chain triglycerides market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing health consciousness among consumers. North America dominates the global MCT market owing to large production of MCTs and strong demand from nutrition and supplement industry in the region. Europe is the second largest market for MCTs driven by rising applications in food and personal care products.
Key players operating in the medium chain triglycerides market are BASF, Wilmar International Ltd, Avic Pharmaceutical, ABITEC Corporation, A&A Fratelli Parodi, Musim Mas, DuPont, Lonza, Procter & Gamble, Stepan Company. BASF is one of the leading producers of MCTs globally. Wilmar International invests heavily in R&D to develop customized MCTs for various end-use industries.
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