NEWARK, Del, March 15, 2023 (GLOBE NEWSWIRE) -- The global microcrystalline cellulose market is projected to create opulent growth opportunities over the evaluation period by registering a CAGR of 6.3% from 2023 to 2033. The global market value is expected to grow from US$ 974.7 million in 2023 to US$ 1,794.1 million by 2033 end.
The growth of the market is attributed to its surging demand across numerous end-use industries across the world. During the historic period, the global microcrystalline cellulose market witnessed a sluggish CAGR of 4.9% from 2018 to 2022.
Microcrystalline cellulose (MCC) is known as a robust plant-derived ingredient consisting of remarkable functional properties that accurately suit its industrial applications such as a binder, thickening agent, filler, anti-cracking agent, fat replacer, disintegrate, emulsifying agent, absorbing agent, and many more.
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Although the demand from the pharmaceutical industry grew significantly after 2020 as it is a common excipient used in tablet formulations. Microcrystalline cellulose is primarily utilized in pharmaceuticals and food & beverage industries. These industries are likely to account for more than 50% of the consumption of the global market.
The aforementioned functional properties of MCC make it a good fit as an ingredient in manufacturing several other products like cosmetics and personal care, paints and coatings, detergents, dye absorbers, rubber, etc. Among numerous end-use industries, the pharmaceutical industry is predicted to showcase steady growth over the next few years.
Report Highlights
The widespread demand for microcrystalline cellulose is anticipated to be fueled by pharmaceutical industries. MCC is used as an excipient in pharmaceutical drug formulation owing to its binding, disintegration, gliding, dilution, and carrier applications. Specifically, from 2020 onwards, the demand for drugs and medicines witnessed a significant surge due to which the subsequent demand for MCC hiked from pharmaceutical drug manufacturers.
The food & beverage industry is rapidly adopting new plant-based ingredients in packaged food products. This trend will drive the consumption of microcrystalline cellulose over the next few years. Furthermore, the rising investment in developing numerous grades of microcrystalline cellulose is a key trend in recent years.
Major players within the developed market are heftily investing in innovations to capture the untapped potential applications of MCC in consumer products. Apart from this, Asia-Pacific market participants are investing in expanding their production facilities to meet the rising market demand. As a cumulative impact of these developments, the global microcrystalline cellulose market will thrive through the projection period.
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Recent Developments
Food & beverage applications of microcrystalline cellulose have witnessed a significant demand in recent years. Traditionally, it has been utilized as a thickening and emulsifying agent, binder, filler, and anti-cracking agent in several foods such as bakery products, meats, dairy, and seafood products.
MCC is known as an excellent alternative to fats. Since, it is derived from plants, the usage of MCC in the food & beverages industry is anticipated to propel due to the growing preference for plant-based products from consumers in near future.
Besides this, several research and innovations in recent years have shown that MCC can act as a soil conditioner and agrochemical in the agricultural industry, density controller and flowability enhancer in detergents, adhesive in general industries, substitute in rubber production, and absorber in dye industries. These applications and many more are expected to facilitate opportunities for MCC in industrial applications.
Microcrystalline cellulose (MCC) is optimally derived from wood pulp which accounts for a prominent portion of the overall production of MCC. It needs plenty of tree wood obtained by cutting natural resources like forests. This process poses a lot of environmental challenges and restrictions from the governments. Hence, the wood-based production of MCC is being replaced by other natural resources like cotton crops, bamboo farming, corn, banana, and soybean crops, etc.
Competitive Landscape
Prominent players operating in the global microcrystalline cellulose market acquire a crucial share of the industry. The threat of new entrants is low because of the initial capital investment in establishing the production lines.
Knowing the significant demand from end-use industries, the market players are looking to expand their production capacities along with new supply chain developments to enter into emerging markets. A few leading players also invest in research and development to introduce new applications and product grades of microcrystalline cellulose in the market.
DuPont de Nemours, Inc, Asahi Kasei Corporation, DFE Pharma, J. RETTENMAIER & SÖHNE GmbH + Co KG, Accent Microcell Pvt. Ltd., Foodchem International Corporation, Mingtai Chemical Co., Ltd, Sigachi Industries Pvt. Ltd., Chemfield Cellulose, NB Entrepreneur, Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Roquette Frères S.A., Libraw Pharma, Ankit Pulps and Boards Pvt. Ltd, Pharmatrans Sanaq AG, Wei Ming Pharmaceutical Mfg Co. Ltd, Sixring, and RanQ are the leading manufacturers of the microcrystalline cellulose market.
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Segmentation of Microcrystalline Cellulose Industry Research
By Material:
- Wood-based
- Non-wood based
By Application:
- Food and beverages
- Pharmaceuticals
- Cosmetics and personal care
- Paints and coatings
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East and Africa
More Insights into the Microcrystalline Cellulose Market
Surging demand for microcrystalline cellulose from end-use industries has made the USA a leading country in the global market. The USA has a well-developed food & beverages industry which will primarily be driving the market in the forecast period owing to the rising trend of plant-based food products.
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Table of Content
1. Executive Summary | Microcrystalline Cellulose Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Type Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation/Development Trends
4. Key Success Factors
4.1. Product Adoption/Usage Analysis
4.2. Product USPs/Features
4.3. Strategic Promotional Strategies
Complete TOC of this Report:
https://www.futuremarketinsights.com/toc/rep-gb-1017
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