The Global Medium Chain Triglycerides (MCT) Market is projected to register a CAGR of over 6% during the forecast period.
The food and beverages and personal care and cosmetics markets account for the largest share of the medium chain triglycerides market. The medium chain triglycerides are used in diet as a fat supplement and also provides immunity to the body. The pandemic created more interest in working on immune system thus increasing the market. However, the countries such as India, United States, and China which contributes the largest share of medium chain triglycerides are effected by covid-19 pandemic. The food and beverage industries were effected in these countries. For instance, with over 7.3 million employees, the food and beverage industry accounts for 3% of India’s GDP and is the country’s single largest employer. The nationwide lockdown sent the restaurant industry into a tailspin, with some estimates predicting that nearly a quarter of all restaurants were closed by the end of 2020. According to the National Restaurant Association of India, India’s USD 50 billion restaurant industry lost an estimated value of around USD 9 billion in 2020.
– In the medium term, the major factors driving the market studied are increasing demand of dietary supplements in food and rising penetration of MCT’s in personal care & cosmetics products.
– On the flipside, the availability of substitutes such as mineral oil and unfavorable conditions arising due to the COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
– Asia-Pacific region is projected to experience the fastest growth across the globe owing to increasing consumption from countries such as China, India, and Japan.
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Key Market Trends
Increasing Demand from Food & Beverages Segment
– Medium chain triglycerides are produced by processing coconut and palm kernel oil. They comprise medium chain fatty acids and are slightly yellowish in color. They are insoluble in water and are miscible with alcohol and methylene oxide.
– The increasing demand for medium chain triglycerides as a substitute for normal fat in diet owing to properties such as helps in maintaining a healthy weight, supports in reducing stored body fat by increasing metabolism, and helps in better digestion and giving more energy, is propelling the medium chain triglycerides market.
– Additionally, the growing popularity of medium chain triglycerides among athletes, body-builders, and sportsmen owing to its ability to enhance their performance is further expected to positively impact the medium chain triglycerides market.
Medium Chain Triglycerides (MCT) Market
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