Medium-chain Triglycerides Market by Fatty Acid Type (Caproic, Caprylic, Capric, and Lauric), Application (Nutritional Diet, Infant Formula, Sport Drinks, Pharmaceuticals, and Personal Care), Form, Source, and Region - Global Forecast to 2022
“The medium-chain triglycerides market is projected to grow at a CAGR of 6.1%”
The medium-chain triglycerides market is projected to reach USD 809.3 million by 2022, at a CAGR of 6.1% from 2017. The market is driven by factors such as rising demand for healthy and nutritious food, growing inclination of consumers toward healthy lifestyles, increasing demand for processed and convenience foods, and growing demand for innovative food & beverage products due to changing consumer trends. Factors such as high cost involved in R&D activities and production are restraining the market.
“Caprylic acid segment led the medium-chain triglycerides market in 2016”
In 2016, the caprylic acid segment accounted for the largest share of 50.6% in the global market, in terms of fatty acid types, and is projected to follow the same trend during the forecast period. Since it is the basic ingredient in several food and nutraceutical products, an increase in global food consumption would subsequently lead to an increase in demand for caprylic acid.
“North America to lead the market in terms of market share between 2016 and 2022”
The market for medium-chain triglycerides in North America was the largest. The U.S. is estimated to dominate the market for medium-chain triglycerides globally as well as regionally.
The North American region was the largest in terms of consumption, owing to the increasing demand from applications such as detergents, surfactants, personal care, and food additive. Furthermore, the development in end-user industries is projected to fuel the consumption of caproic acid.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows:
By Company Type: Tier 1 - 47%, Tier 2 - 25%, and Tier 3 - 28%
By Designation: Director Level - 55%, C Level - 35%, and Others - 10%
By Region: Asia-Pacific - 45%, Europe - 30%, North America - 15%, and RoW - 10%
Key players are as follows:
The global medium-chain triglycerides market is dominated by key players such as Sternchemie GmbH & Co KG (U.S.), Emery Oleochemicals LLC (U.S.), KLK Oleo (Malaysia), BASF SE (Germany), Koninklijke DSM N.V (U.S.), Musim Mas Holdings Pte. Ltd. (Singapore), and Lonza Group Ltd. (Switzerland).
Medium-chain triglycerides market, on the basis of type, includes caprylic acid, capric acid, caproic acid, and lauric acid. On the basis of source, the market is segmented into coconut, palm, and others (milk fats and vegetable fats). On the basis of application, the market is segmented into nutritional diet, infant formula, sport drinks, pharmaceuticals, personal care, and others (flavors, fragrances, and industrial). On the basis of form, the market is segmented into dry and liquid. By region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global medium-chain triglycerides market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
• Market Penetration: Comprehensive information on medium-chain triglycerides products offered by top players in the global market
• Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the medium-chain triglycerides market
• Market Development: Comprehensive information about lucrative emerging markets
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global medium-chain triglycerides market
• Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global medium-chain triglycerides market