The health benefits of medium-chain triglycerides and the growing awareness about it among consumers is projected to drive the medium-chain triglycerides market growth. Increasing number of applications are also projected to boost the market growth in the near future.
Northrook, IL -- (SBWIRE) -- 10/24/2019 -- 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.
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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.
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.
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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).
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