(MENAFN - GetNews) According to report published by Grand View Research,The increasing cases of obesity and growing demand of medium chain triglycerides market products in the cosmetics industry are projected to drive the demand over the forecast period. According to a report, "Medium Chain Triglycerides (MCT) Market Analysis By Application (Personal Care & Cosmetics, Pharmaceuticals, Dietary & Health Supplements), By Region, Competitive Strategies, And Segment Forecasts, 2018 - 2025",published by Grand View Research, Inc.,The global medium chain triglycerides market is expected to reach USD 2.46 billion by 2025.The global medium chain triglycerides demand was 271 kilo tons in 2016 and is estimated to grow at a CAGR of 6.1% to reach a total volume exceeding 430.0 kilo tons by 2025.
Key Takeaways from the report:
The personal care segment accounted for over 8% of the total demand in 2016 and is anticipated to grow at a CAGR of 5.6% from 2016 to 2025
The pharmaceuticals segment in the U.S. was valued over USD 94.2 million in 2016 and is accounted for over 27% of the total revenue in the country
North America emerged as the largest consumer and is estimated to raise the demand for MCT to over 155 Kilo tons by 2025
Asia Pacific is the fastest growing market and is projected to account for over 20% of the total revenue by 2025
Europe is anticipated to occupy a volume share of over 15% by 2025 at a CAGR of 4.4% over the next eight years
The Brazil medium chain triglycerides market generated revenue worth of USD 127 million in 2016 and is anticipated to grow at a CAGR of 7.1% by 2025
Owing to the growing demand for specific and multifunctional products the industry players have been forced to focus towards consumer specific product positioning strategies for higher penetration in the local markets
Key industry participants include BASF, Wilmar International Ltd, Stepan Company, Sternchemie Lipid Technology, Jarrow formulas, Lonza, KLK Oleo, etc.
U.S. MCT market revenue by application, 2014 - 2025 (Million)
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Global MCT market revenue share by application, 2016 (%)
The global industry is expected to witness a growth owing to its use as an excipient, which acts as a carrier or suspension medium for oil soluble antibiotics and drugs. Its applications as an antibacterial, antiviral or antifungal medicine and its ability to decrease cardiovascular disease and mortality risk are expected to drive the MCT market.
Dietary and health supplements segment accounted for 59% of total demand in 2016 and is anticipated to gain share over the forecast period. The growing popularity of MCT oil among health-conscious population owing to its properties like improving metabolism, fat burning and providing energy is expected to steer the global market.
Grand View Research has segmented the global medium chain triglycerides market on the basis of application and region:
MCT Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Dietary and healthcare supplements
MCT Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Middle East and Africa
Central & South America
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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