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 Market Overview
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 is purified cellulose that has partly depolymerized particles. It combines mineral acids with alpha-cellulose which is obtained as a pulp from fibrous plant content. Air, dilute acids, and most organic solvents are generally insoluble. However, it is partially soluble in a 20% alkali solution. It has a wide variety of applications in prescription excipients and can be used specifically for dry powder tableting. Pharmaceuticals and cosmetics are the major end-user industries of microcrystalline cellulose. The ongoing pandemic has altered the face of the beauty industry. The lockdown imposition and other restrictions, international travel bans, and retail business closures, sales, purchases, and usage have fallen across many beauty segments. However, the pharmaceutical industry experienced an increase in production due to the COVID-19 pandemic as the medicines used in hospitals worldwide have increased, thus increasing the demand for microcrystalline cellulose used in the production of drugs. Furthermore, government support in various pharmaceutical sector countries is expected to influence the market studied positively.
The demand for microcrystalline cellulose from the pharmaceutical industry across significant economies is expected to drive the demand for the market studied. On the flip side, the high manufacturing and production cost of microcrystalline cellulose is expected to hinder the market's growth. The APAC region will dominate the market with increasing manufacturing from the pharmaceutical industry in countries like India and China.
Microcrystalline Cellulose Market Revenue, By Application, 2019 (USD Million):
Sources: MRFR Analysis
Microcrystalline Cellulose Market has been segmented based on Source, End-Use Industry, and Region.
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 industry 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 Microcrystalline Cellulose Market.
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 Microcrystalline Cellulose 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 Microcrystalline Cellulose Market are
The Microcrystalline Cellulose 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.Recent Development News
Global Microcrystalline Cellulose Market, By Type
Global Microcrystalline Cellulose Market, By End-use Industry
Global Microcrystalline Cellulose Market, By Region
Available Additional Customizations
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Source, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.|
|Key Market Opportunities||Microcrystalline cellulose is also used in personal care and cosmetic products, creating lucrative opportunitie|
|Key Market Drivers||Growing demand for MCC as pharmaceutical excipients is driving the growth of this market.|
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 (2021-2030).
Rising demand for the low-fat packaged food to inspire better growth for the Microcrystalline Cellulose (MCC) Market.