Medium and long chain triglycerides (MLCTs) are a kind of structured lipids with special physical and chemical properties and nutritional functions, which contain both medium chain fatty acids (MCFAs) and long chain fatty acids (LCFAs). Since the first patent of MLCTs edible oil and related products are launched by Nisshin OilliO Corporation in Japan in 2002. The MLCTs industry has undergone a transformative developmental history over two decades. The acidolysis process is applicable for the production of MLCTs products with relatively high added value. Composite enzyme design and novel reaction systems including the reverse micelles and the Pickering emulsions have gained significant research attention as emerging approaches. Fixed-bed reactors currently represent the most promising enzymatic equipment for the synthesis of industrial-scale MLCTs, though intensified investigations on industry implementation are still required. Molecular distillation demonstrates superior separation efficiency and product purity, positioning it as the most industrially viable purification technology, but its widespread application necessitates technological advancements to address inherent limitations of high capital investment and energy intensity. While conventional analytical methodologies including gas chromatography (GC), high-performance liquid chromatography with evaporative light scattering detection (HPLC-ELSD), and ultra-performance liquid chromatography coupled with quadrupole time-of-flight mass spectrometry (UPLC-Q-TOF-MS) remain practically effective, future efforts shall prioritize establishing the triacylglycerols molecular databases for liquid chromatography-mass spectrometry to achieve precise qualitative and quantitative analysis of triglycerides isomers. Standardization works urgently require the establishment of authoritative national standards and certified analytical protocols to regulate MLCTs industry development. From the perspectives of the products and applications, strategic priorities shall encompass 1) the market education and promotion activities, 2) the innovative product development and application, 3) studying on the interaction mechanisms of nutrient substances, and 4) the fundamental research in the metabolic pathway. These efforts will establish a robust scientific foundation for advancing the commercialization and application of MLCTs products in the food industry.