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MCT Oil Market Analysis

  • Report ID: GMI7346
  • Published Date: Nov 2023
  • Report Format: PDF

MCT Oil Market Analysis

MCT Oil Market Size, By Type, 2021 - 2032 (USD Billion)

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Based on type caprylic acid dominated the segment with the highest market size of USD 390 million in 2022. Caprylic acid is particularly beneficial for health and wellness, which aligns with the growing consumer emphasis on better dietary choices. This fatty acid is known for its potential in enhancing cognitive function, increasing energy levels, and supporting weight management.

Based on source, coconut oil segment dominated the segment with the revenue share of 43.5% in 2022. Coconut oil is perceived as a natural and plant-based source of MCTs, aligning with the growing consumer preference for sustainable and clean-label products. As consumers increasingly seek out healthier and more natural alternatives, coconut oil, with its MCT-rich composition, has gained favor among those looking to incorporate health-conscious choices into their diets.

 MCT Oil Market Revenue Share, By Application, (2022)

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Based on application food and beverage segment dominated the market with revenue share of 50.4% in 2022. The growing demand for healthier and functional food and beverage products has spurred the incorporation of MCT oils. MCTs are recognized for their potential health benefits, including improved energy levels and cognitive function, and support for weight management. As consumers seek products that align with their health and wellness goals, food and beverage manufacturers are turning to MCT oils as an attractive ingredient to enhance the nutritional profile of their offerings.

Based on form liquid dominated the segment with the highest revenue share of 90.2% in 2022. Liquid MCT oils are highly versatile and convenient. They can be easily added to a wide range of beverages and recipes, making them a popular choice for consumers looking to incorporate MCTs into their diets without altering their regular eating habits. This versatility has led to increased adoption of liquid MCT oils in various applications.

Asia Pacific MCT Oils Market Revenue, 2021 - 2032 (USD Billion)

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Asia pacific region dominated the MCT oil market with the highest industry size of USD 270 million in 2022. The Asia-Pacific region has witnessed a surge in health and wellness awareness. Consumers are becoming more health-conscious and are actively seeking products that can support their well-being. MCT oils, with their potential benefits for weight management, energy enhancement, and cognitive function, are aligning well with these consumer priorities. In addition, the region is witnessing a burgeoning fitness and sports nutrition culture. MCT oils, known for their ability to provide quick energy and support muscle recovery, are increasingly used by athletes and fitness enthusiasts. This trend is contributing to the growth of MCT oil consumption in the region.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

Market size for MCT oil was worth USD 0.78 billion in revenue in 2022 and is set to record 7.6% CAGR from 2023 to 2032 driven by the rising consumer awareness of the health benefits.

The coconut oil segment held 43.5% revenue share of the MCT oil market in 2022 and is likely to witness high demand between 2023 and 2032 attributed to the increasing consumer preference for sustainable and clean-label products.

Asia Pacific MCT oil industry was USD 0.27 billion in revenue in 2022 and is estimated to expand at a notable pace through 2032 attributed to the surging health and wellness awareness among the regional consumers.

Some of the major MCT oil companies are Stepan, BASF, KLK OLEO, Nisshin OilliO Group, Wilmar International Limited, Musim Mas Holdings Pte. Ltd., Croda International, Lonza, ABITEC Corporation, and Valio, among others.

MCT Oil Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 273
  • Countries covered: 19
  • Pages: 180
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