LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global medium chain triglycerides products market to grow to USD 1,135.11 million by 2021, at a CAGR of close to 6% over the forecast period, according to their latest report.
The research study by Technavio on the global medium chain triglycerides (MCT) products market for 2017-2021 provides a detailed industry analysis based on the distribution channel (retail outlets and online stores) and geography (the Americas, APAC, and EMEA).
The market research report projects APAC to grow swiftly, at a CAGR of nearly 7% through the forecast period. The rapidly expanding economies, particularly in India, China, and Japan have created increased awareness of the need for proactive personal healthcare, which is driving the growth of the MCT products market.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global medium chain triglycerides products market:
- Increased participation in sports and fitness activities
- Rise in healthcare costs
- Rise in disposable income
Increased participation in sports and fitness activities
Sports and fitness activities play a significant role in promoting health and wellness, resulting in increased participation from both the children and adult demographics. The increased interest in sports is leading to a high demand for healthy foods and related products, such as MCT supplements.
“Individuals who participate in sports and fitness activities consume protein powders, bars, and MCT supplements such as MCT oils and MCT powders to raise their endurance,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Rise in healthcare costs
Healthcare costs have been on the rise over the past decades, with increasing prices of drugs, medical devices, and hospital care. However, individuals are ensuring that they maintain a healthy and fit lifestyle. The increasing adoption of a healthy lifestyle has led to a great demand for MCT oils, MCT powders, and other related products.
MCT oil provides essential nutrients, helps stabilize blood sugar levels, and strengthen the immune system. Thus, with the increasing advantages provided by MCT oil, there has been an increase in its consumption as a preventive health care measure to avoid spending on expensive treatments and medications.
Rise in disposable income
“The per capita disposable income has greatly increased due to the spike in the number of double-income households. This enables consumers to spend more on health and wellness products, thereby driving the demand for MCT products,” says Amber.
Also, the rise in urban population has positively impacted the accessibility of health and wellness solutions such as MCT oil, which helps control weight, increases energy, and improves skin, through well-connected distribution channels in most countries.
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