Caprylic/Capric Triglycerides Market Overview to 2023:
Market Research Future (MRFR) has announced a new release on the global caprylic/capric triglycerides market. The report estimates the global caprylic/capric triglycerides market to exhibit a strong 5% CAGR over the forecast period (2018-2023). The report contains an extensive analysis of the caprylic/capric triglycerides market’s segmentation and competitive landscape in order to deliver a comprehensive picture of the market’s current condition and growth prospects over the forecast period.
Caprylic/capric triglycerides are a class of triglycerides derived from milk and vegetable oils such as palm oil and coconut oil. They are also known as MCT and have come under increasing scrutiny due to their alleged benefits in managing obesity, enhancing metabolism, and enabling healthy cognitive functioning. The increasing popularity of dietary supplements that aid in weight loss and enhanced metabolism has led to growing demand from the global caprylic/capric triglycerides market. The increasing awareness about the antimicrobial and antifungal properties of caprylic/capric triglycerides has also led to their increasing use in cosmetics and personal care products. The increasing research into the utility of caprylic/capric triglycerides and increasing awareness about their benefits is likely to be a key driver for the global caprylic/capric triglycerides market over the forecast period.
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Competitive Analysis:
- IOI Oleo GmbH
- Croda International Plc
- KLK Oleo
- Oleon NV
- BERG + SCHMIDT GmbH & Co.
- Ecogreen Oleochemicals
- Oxiteno
- Peter Cremer North America
Segmental Analysis:
The global caprylic/capric triglycerides market is segmented by application and region.
By application, the global caprylic/capric triglycerides market is segmented into food and beverages, pharmaceuticals, cosmetics and personal care products, sports drinks, infant nutrition, and others. Food and beverages accounted for around 30% of the global caprylic/capric triglycerides market in 2017 and is likely to remain the major contributor to the global market over the 2018-2023 forecast period, followed by the cosmetics and personal care products segment. The latter is expected to be the fastest growing application segment of the caprylic/capric triglycerides market over the forecast period.
Regional Analysis:
Geographically, the global Caprylic/Capric Triglycerides Market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East and Africa.
North America is likely to remain the dominant regional market for caprylic/capric triglycerides over the forecast period due to the presence of a highly advanced medical research industry, which has led to increasing awareness about the various benefits of caprylic/capric triglycerides. The highly developed cosmetics industry in the region is also likely to be a major contributor to the global caprylic/capric triglycerides market over the forecast period. The high prevalence of obesity in North America is likely to drive the caprylic/capric triglycerides market in the region, as the prevalence of obesity stood at more than 34% in the U.S. and more than 24% in Canada over the 2007-09 period. The growing awareness about the benefits of caprylic/capric triglycerides in combating obesity and reducing weight is likely to be the major driver for the caprylic/capric triglycerides market in North America over the forecast period.
APAC is expected to exhibit the highest growth in the global caprylic/capric triglycerides market over the forecast period. The increasing popularity of Western dietary patterns has led to an increase in the prevalence of obesity in Asian countries in recent years. The demand for advanced cosmetics and personal care products has also grown in line with the growing disposable income of consumers in developing Asian countries such as India and China. This is likely to be the major driver for the caprylic/capric triglycerides market in APAC. The increasing infant population in APAC is also likely to drive the demand for caprylic/capric triglycerides in infant nutrition products in APAC.
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