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Medium Chain Triglycerides Market Size, Share , Latest Trends, Key Players And Forecast To 2033
Medium Chain Triglycerides Market
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According to The Business Research Company's, The medium chain triglycerides market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rising use of mineral oils, rising dietary supplements, rising demand for weight management solutions, increasing dietary supplements, increase in intake of healthy diet.
The medium chain triglycerides market size is expected to see strong growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing prevalence of obesity, increasing weight management supplements, increasing organic supplements, increasing consumption of nutritional food, increasing consumption of functional food. Major trends in the forecast period include developing plant-based materials, product innovations, technological advancements, innovation in food and beverage applications, and innovation in delivery formats.
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Market Drivers and Trends:
The increasing prevalence of obesity is expected to propel the growth of the medium-chain triglycerides market going forward. Obesity is a chronic, complex disease characterized by excessive accumulation of body fat that can impair health. The prevalence of obesity is due to a surge in health-conscious behaviors, unhealthy eating habits, and lack of exercise. Medium-chain triglycerides are rapidly absorbed and transported directly to the liver, where they are quickly converted into energy rather than stored as fat. This process can increase metabolic rate and energy expenditure compared to long-chain fatty acids (LCTs). For instance, in March 2023, according to the World Heart Foundation, a Switzerland-based non-government global cardiovascular community, globally, around 2.3 billion adults and children are obese or overweight, and it is estimated that the number of people living with obesity will reach 2.7 billion by 2025. Therefore, the increasing prevalence of obesity drives the medium-chain triglycerides market.
Major companies operating in the medium-chain triglycerides market focus on developing innovative products, such as soluble organic medium-chain triglycerides coffee, to cater to health-conscious consumers seeking convenience and overall wellness. Organic medium chain triglycerides (MCT) coffee is a type of coffee that is infused with organic MCT oil, which is derived from organic coconut oil or palm kernel oil, making it a popular choice for those looking to enhance their energy levels, cognitive function, and overall health. For instance, in February 2021, Xoma Super Foods, a US-based food company, and Nexe, a Canada-based composite materials company, launched soluble organic MCT coffee in fully compostable capsules. This innovative product features a unique blend of organic MCTs, a fully compostable capsule, and a sustainable production process. The product is designed to provide a convenient and healthy coffee experience while minimizing environmental impact.
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Major Key Players of the Market:
Nestle Health Science S.A., BASF SE, Wilmar International Ltd., ABF Ingredients, DuPont de Nemours Inc., Musim Mas Group, Lonza Group AG, The Nisshin OilliO Group Ltd., IOI Oleochemical, Stepan Company, Croda International Plc, KLK Oleo, Sternchemie GmbH & Co. KG (Stern-Wywiol Gruppe GmbH & Co. KG), Oleon NV, Jarrow Formulas Inc., ABITEC, Connoils LLC, Acme-Hardesty (Jacob Stern & Sons Inc.), Barlean's, CREMER OLEO GmbH & Co. KG, Henry Lamotte Oils GmbH
Medium Chain Triglycerides Market 2024 Key Insights:
• The medium chain triglycerides market size is expected to see strong growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Rising Obesity Rates Drive Growth in Medium-Chain Triglycerides Market
• Product Innovations Fuel Competition In Medium Chain Triglycerides Industry
• North America was the largest region in the medium chain triglycerides market in 2023
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