Zion Market Research has published a new report titled “Medium Chain Triglycerides Market (Caproic Acid, Caprylic Acid, Capric Acid, Lauric Acid, Heptanoic Acid and Nonanoic Acid) for Medical, Food, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global medium chain triglycerides market was valued at USD 1.07 billion in 2016 and is expected to reach USD 1.55 billion in 2022, growing at a CAGR of 12.3% between 2017 and 2022. In terms of volume, global medium chain triglycerides stood at approximately 451.7-kilo tons in 2016.
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Medium chain triglycerides are the source of healthy essential fats that are required for the body. It has a simple chemical structure that helps to burn the saturated fats for energy and gets easily absorbed by the body. Thus, it is beneficial for preventing obesity and brain health. Thus, it is rapidly becoming popular among health concern population and is projected to grow at a high CAGR during the years to come.
The global medium chain triglycerides market is primarily driven by the increasing growth in the food industry on a global level. Rising penetration of healthcare industry is expected to have a positive impact on the market. Moreover, growing adoption rate of dietary intake among consumers is likely to help in growing demand for medium chain triglycerides within the forecast period. However, expensive production of medium chain triglycerides may impede the consumption of medium chain triglycerides oil. Nevertheless, on-going research & development in personal products and healthcare industry will provide new avenues to the major vendors of the market over the future years.
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Lauric acid led the global medium chain triglycerides market in 2016 and it accounted for more than 36% share of the market in 2016. Furthermore, this trend is likely to continue in the near future due to heavy consumption in a treatment for acne and various disease treatments. Lauric acid increases in high-density lipoprotein (HDL) in the body. Thus, it is likely to grow at a CAGR of 6.8% between 2017 and 2022. Moreover, Caprylic acid was second largest product segment of the market in the same year. Caproic acid is predicted to be the fastest-growing segment of the market within the forecast period owing to utilization of caproic acid in the production of esters and artificial flavors.
In terms of applications, food dominated the global medium chain triglycerides market in 2016. It accounted for more than 23% share of the entire market and predicted to grow at CAGR of 6.1% within the forecast period. Emerging food industry in developing countries along with rising dietary relevance across the globe is expected to fuel the market growth in the near future. Furthermore, medical is projected to be the fastest-growing segment of the market during the next few years. Growing obesity and rising health concerns among the peoples is expected to influence the demand for medium chain triglycerides positively during the forthcoming years.
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With the largest share, Asia Pacific governs the market of medium chain triglycerides in 2016. It holds more than 38% share of the market in 2016 and it is expected to be one of the fastest growing markets in the near future. Strong demand for medium chain triglycerides in medical and food industry specifically in China and India will bolster the profit margins in the region. Asia Pacific was followed by Europe and North America in the same year. Latin America and Middle East & Africa regions hold a small chunk of a share of the market in 2016. However, it is predicted to grow at moderate pace in the coming years.
Some of the key vendors of the global medium chain triglycerides market include Acme-Hardesty, ABITEC Corporation, BASF SE, CONNOILS LLC, Croda International Plc, Dr. Straetmans GmbH, Elementis, Emery Oleochemicals Group, Klk Oleo, Lonza Group, Magna-Kron Corp, Musim Mas, Oleon, Peter Cremer Holding GmbH & Co. KG and Stepan.
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