ID: MRFR/CnM/4165-CR | March 2021 | Region: Global | 169 pages
Microcrystalline Cellulose Market is anticipated to register a CAGR of 6.78% to reach USD 1,204.7 Million by the end of 2027.
Microcrystalline cellulose (MCC) is a refined wood pulp used as an anti-caking agent, an emulsifier, a fat substitute, a texturizer, an extender and a bulking agent. It is commonly used in the form of tablets or supplements. It is produced by controlled hydrolysis of highly purified alpha-cellulose, obtained from naturally occurring wood cellulose with mineral acids.
Microcrystalline Cellulose Market is anticipated to register a significant growth rate during the review period. Growing demand for MCC as pharmaceutical excipients is driving the growth of this market. Furthermore, the growing food & beverage industry, changing consumer lifestyles, rising per capita disposable income, and increasing purchasing power of the people are fueling the growth of the microcrystalline cellulose market.
Microcrystalline cellulose is also used in personal care and cosmetic products, creating lucrative opportunities for market players. However, the availability of microcrystalline cellulose substitutes is expected to restrain the growth of this market.
Global Microcrystalline Cellulose Market Revenue, By Application, 2019 (USD Million)
Sources: MRFR Analysis
Global Microcrystalline Cellulose Market has been segmented based on Source, End-Use Industry, and Region.
Global Microcrystalline Cellulose Market has been categorized based on source into wood-based and non-wood based. Among these, the wood-based source segment accounted for more than 50% of the global market share in 2019. This polymer is widely used as a non-stick coating for pans and cookware, insulation of wiring in aerospace and electrical industries, medical appliances, and automotive and industrial products.
Based on the end-use industry, the microcrystalline cellulose market has been segmented into pharmaceutical, food & beverages, cosmetics & personal care, and others. In terms of value, the pharmaceutical segment dominated the global market with more than 40% market share in 2019 in terms of value and is anticipated to register a healthy CAGR of 7.36%. This is attributed to rising healthcare spending and an increase in cardiovascular disease among people. The food & beverage segment is expected to hold a significant market share in the global microcrystalline cellulose market.
Global Microcrystalline Cellulose Market Share, By Region, 2019 (%)
Sources: MRFR Analysis
Microcrystalline Cellulose Market has been studied across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of more than 40% market share in 2019, with a market value of approximately USD 587.3 million and is expected to grow at a faster pace during the study period. The market growth can be attributed to the growing urbanization and increasing industrialization in the emerging economies of Asia-Pacific, especially in China, Japan, and South East Asian nations.
In 2019, North America held the second-largest market share. This is driven by the presence of established players in the region, with the US being the largest market. Growing demand for microcrystalline cellulose for pharmaceutical and food applications is propelling the market growth in Europe. For instance, according to International Trade Administration (ITA), in 2017, the pharmaceutical industry manufactured products in Germany were valued at USD 37.40 billion, with an increase of about 4.7% compared to the previous year. The pharmaceutical market is also expected to reach a value of USD 82.26 billion by 2021, as per the same source.
Key players operating in the global microcrystalline cellulose market are DuPont, Asahi Kasei Corporation, JRS Pharma, Roquette Frères, Mingtai Chemical Co., Ltd., Accent Microcell Pvt. Ltd., JRS Pharma, Pharmatrans-Sanaq AG, DFE Pharma, Weiming Pharmaceutical MFG. Co., Ltd, and Sigachi Industries Pvt. Ltd.
The global market is highly competitive, with all the players competing to gain maximum market share. Various key players in the market are engaged in R&D activities and technological advancements to enhance their global position and product portfolio. Furthermore, expansion in lucrative regional markets, government regulations, and healthy growth of the pharmaceutical and food processing industry are the key factors that hamper the global market growth.
Global Microcrystalline Cellulose Market, By Type
Global Microcrystalline Cellulose Market, By End-use Industry
Global Microcrystalline Cellulose Market, By Region
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Frequently Asked Questions (FAQ) :
North America is going to fetch the maximum market share for the Microcrystalline Cellulose (MCC) Market.
The global Microcrystalline Cellulose (MCC) Market the have players like Dupont (the U.S.), Blanver (Brazil), FMC Corporation (the U.S), Mingtai Chemical Co. Ltd. (Canada), Mitsubishi Chemical Corporation (Japan), JRS PHARMA (the U.S.), Avantor (the U.S.), Accent Microcell Pvt. Ltd (India), Asahi Kasei Corporation (Japan), FrieslandCampina (the Netherlands), Libraw Pharma (India), DFE Pharma (Germany), Huzhou City Linghu Xinwang Chemical Co., Ltd (China), Sigachi Industries Pvt. Ltd. (India), and Shandong Xinda Biotechnology Co., Ltd (China).
Players would transform the Microcrystalline Cellulose (MCC) Market by implementing tactical changes like mergers, production plans, product launch, collaborations, acquisitions, advertising, better R&D, and others to secure growth for the pentaerythritol market.
Asia Pacific would record the fastest growth during the forecast period (2017-2023).
Rising demand for the low-fat packaged food to inspire better growth for the Microcrystalline Cellulose (MCC) Market.