USA emerges as a key player in the global microcrystalline cellulose market, driven by the booming food & beverages industry.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 16, 2023 /EINPresswire.com/ -- 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.

Recent Developments

Microcrystalline cellulose (MCC) is experiencing increased demand in the food and beverage industry, serving as a versatile plant-derived ingredient, widely used for its thickening, emulsifying, binding, and anti-cracking properties, offering an excellent alternative to fats and aligning with the rising consumer preference for plant-based products.

Microcrystalline cellulose (MCC) demonstrates diverse industrial applications, serving as a soil conditioner in agriculture, density controller in detergents, adhesive in general industries, rubber production substitute, and dye industry absorber, with a shift towards sustainable sources like cotton, bamboo, corn, banana, and soybean crops due to environmental concerns associated with wood-based production.

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

Authors by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

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About Future Market Insights (FMI)

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