PUNE, India, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The Microcrystalline Cellulose Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global microcrystalline cellulose market size was estimated to be US$ 900 million in 2019 and is expected to reach US$ 1.75 billion by 2030 at an expected CAGR of 6.3%. Derived from pulp of fibrous plants, microcrystalline cellulose is a partially depolymerized cellulose prepared by treating alpha-cellulose with mineral acids. Microcrystalline cellulose is widely used across food processing in ice cream, meringue, confections, whipped toppings and pharmaceutical industries as a binder in cosmetics and pharmaceuticals. The monocrystalline cellulose extends starches, controls ice crystal formation and stabilizes foams, thereby witnessing strong demand from pharmaceutical and food & beverage industries.
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The pharmaceutical industry is expanding globally with increased demand for advanced drugs fuelled by prevalence of infectious diseases and expanding geriatric population. Monocrystalline cellulose acts as diluent and binding agent across wide range of drug formulations and thus, is witnessing prominent demand. Another factor fuelling the growth of microcrystalline cellulose market is expanding food & beverage industry fuelled by increased demand for packaged and processed food. Fuelled by consistent demand for bulking and texturizing to improve shelf life of packaged food products, the demand for microcrystalline cellulose is anticipated to witness steady growth during the forecast period. However, high cost of manufacturing and availability of alternatives such as pectin, carboxymethylcellulose, guar gum, and xanthan gum is anticipated to impede the growth of microcrystalline cellulose market in coming years. The global microcrystalline cellulose market is expected to witness steady single-digit growth close to 5.0% during the forecast period.
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Increased demand for non-wood based microcrystalline cellulose to drive market growth in coming years
The global microcrystalline cellulose market is segmented on the basis of type, application, and geography. Based on type, the global microcrystalline cellulose market is segmented into wood based microcrystalline cellulose and non-wood based microcrystalline cellulose. The wood based microcrystalline cellulose contributed a dominating share to the global market in 2019 and is expected to witness steady growth during the forecast period. The non-wood based microcrystalline cellulose is anticipated to grow significantly during the forecast period owing to increasing investment in development of cost efficient and improved quality microcrystalline cellulose.
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Increased demand for advanced drugs to drive the growth of global microcrystalline cellulose market
Based on application, the global microcrystalline cellulose market is segmented into food & beverages, pharmaceuticals, personal care, and others. The application of microcrystalline cellulose in food & beverage processing contributed a significant share to the global market owing to strong demand for processed food globally. The pharmaceutical segment is anticipated to be the fastest growing segment during the forecast period owing to increased investment in expansion of pharmaceutical manufacturing across the globe.
Based on geography, the global microcrystalline cellulose market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe contributed a dominating share to the global microcrystalline cellulose market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to strong demand from pharmaceutical industry. Increasing investment in development of new and advanced drugs across major European countries is anticipated to contribute towards the growth of Europe microcrystalline cellulose market in coming years. Asia Pacific contributed a prominent share to the global microcrystalline cellulose market in 2019 and is expected to the fastest growing region during the forecast period owing to expanding pharmaceutical and food & beverage industries across major countries.
Major players active in the global microcrystalline cellulose market include Accent Microcell Pvt. Ltd., Asahi Kasei Corporation, Avantor Performance Materials, Inc., BLANVER FARMOQUÍMICA LTDA, DFE Pharma GmbH & Co. KG, FMC Corporation, J. RETTENMAIER & SÖHNE GmbH + Co KG, JUKU ORCHEM PRIVATE LIMITED, Libraw Pharma MINGTAI CHEMICAL CO., LTD., and Sigachi Industrial Pvt. Ltd.
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