Microcrystalline Cellulose Market Size Analysis
According to a research survey conducted by ChemView Consulting, the Global Microcrystalline Cellulose Market was valued at US$ 685.2 Mn in 2022 and is expected to reach US$ 1,027.9 Mn by 2030 by growing at a CAGR of 5.2% between 2022 to 2030.
Food and beverage applications are driven by rising demand for processed foods such as ready-to-eat meals and bakery products. Furthermore, the market’s shifting preference for plant-based ingredients in personal care and cosmetics is encouraging product development. This has resulted in introducing and using innovative non-wood-based alternatives made from agricultural waste, which has aided market growth.
Key Market Insights
Growth Driver: The Microcrystalline Cellulose Market is primarily driven by the global increase in processed food consumption. The Utilize of Microcrystalline Cellulose as an ingredient has Bolstring due to the rise in processed food consumption, boosting the market growth. Furthermore, it functions as a diluent and a binding agent in medicinal formulations. It is widely utilized in medicine formulations such as pills, capsules, and sachets. The global Microcrystalline Cellulose market is being propelled even more by the expanding manufacture of pharmaceutical products.
Market Opportunity: Wood pulp is employed to do Microcrystalline Cellulose. The expense of making Microcrystalline Cellulose from wood is high. Bio-Based sources are mostly agricultural waste, producing little or less environmental impact than wood-sourced Microcrystalline Cellulose. Microcrystalline Cellulose is being made from Bio-Based sources using new manufacturing techniques. Bio-Based sources are also less expensive than wood ones.
As a result, Bio-based Microcrystalline Cellulose has a shorter overall production cost, resulting in a lower-end product. Reduced Microcrystalline Cellulose prices are likely to increase applications or higher volume use in many segments, boosting the worldwide growth of the microcrystalline cellulose market.
Market Trend: Several vital players invest a fair share of their revenue in research and development to boost their product portfolio, with market participants focusing on technological development and utilizing a product in several applications. For instance, Currently, wood pulp is used to make. The expense of making Microcrystalline Cellulose from wood is high. Bio-Based sources are mostly agricultural waste, producing little or less environmental impact than wood-sourced Microcrystalline Cellulose.
Cellulose has a lower overall production cost, resulting in a lower end-product. Reduced Microcrystalline Cellulose prices are likely to increase applications or higher volume use in many segments, boosting the worldwide growth of the microcrystalline cellulose market.
Is Asia-Pacific going to lead the market during the next 8 years period?
The Asia-Pacific region will likely lead the market with a 35% share in 2021. Microcrystalline cellulose demand in this area is expected to be driven by increased demand from the pharmaceutical and cosmetics sectors in China and India. The market in Asia-Pacific is expected to grow relatively faster in revenue in the coming years.
The Asia-Pacific region is home to the world’s largest producers of microcrystalline cellulose. Sigachi Industries Pvt. Ltd, Huzhou City Linghu Xinwang Chemical Co. Ltd, DuPont, Asahi Kasei Corporation, and J. Rettenmaier & Sohne GmbH + Co. KG is among the leading manufacturers of microcrystalline cellulose.
This expansion is driven primarily in the Asia-Pacific region by the infinite variety of consumer aspirations and industry innovations. The Asia-Pacific region has the highest demand for cosmetics, particularly luxury items. Over half of the skincare market was accounted for by the region.
Which country is expected to create the highest incremental dollar opportunity during the forecast period?
Over the forecast period, the Indian market is expected to grow at a healthy 6.8% CAGR creating the highest incremental dollar opportunity during the forecast period. Growth is attributed to the country’s increased production and consumption of processed food products and rising demand for personal care and cosmetic products.
MCC is an active ingredient used in both industries, expected to drive market demand. It is used as an anti-caking agent in many food and beverage products, including bakery and confectionery, dairy, and meat products. It is also used as a stabilizing and emulsifying agent in these products, boosting sales in the food and beverage industry.
Which Application segment is expected to create high demand during the forecast period?
The food and beverage industry is expected to continue to be the largest consumer of MCC during the assessment period. Manufacturers are attempting to diversify their applications in food and nutrition products by introducing innovative and ultra-fine variants, which is expected to boost market growth.
Which Material Type held the largest share in the Microcrystalline Cellulose Market?
Increasing R&D investments across the pharmaceutical industry would aid in drug formulation implementation. With its adaptation for industrial purposes, non-wood based microcrystalline cellulose is growing at a significant CAGR. The segment’s penetration would be driven by a decrease in wood supply combined with increased demand for pulp from emerging economies in Asia Pacific, Africa, and Latin America.
The market is moderately consolidated, with the top 5 players holding a significant share in the market. Key market players are investing in expanding their market footprint to remain competitive in the industry. Key players invest in acquisitions, mergers, new product development, and expansions. Key players are investing significantly to bolster their revenue growth by applying the MCC compound in various emerging application fields.
Some of the key developments that have taken place in the Micro Crystallin Cellulose market include:
List of some of the key players present in the MCC Market:
Segments Covered in Report
By Region and Country:
Global Micro Crystallin Cellulose Market 2017-2030: Report Coverage and Highlights
|Historical Data Available for||2017-2021|
|Market Analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key Regions Covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key Countries Covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key Segments Covered||By Source, By Application, By Process, and By Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
The global market of Micro Crystalline Cellulose has been forecasted to reach a value of US$ 1,027.9 Mn by the end of the projected period.
The Pharmaceutical industry is expected to grow at a CAGR of 6.8% between 2022-2032.
Asia-Pacific is expected to dominate the global market accounting for more than 35% of the overall demand for Microcrystalline Cellulose in terms of value.
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