During the 2017-2025 timeline, the global market for microcrystalline cellulose is expected to reflect a 1.5x increase in its revenue growth. In 2017, the global microcrystalline cellulose market was valued at a US$ 949 Mn and by the end of the assessment year (2025), it is estimated to touch a value of more than US$ 1,441 Mn, expanding at a value CAGR of 5.35% throughout the forecast period.
Global Microcrystalline Cellulose Market: Drivers and Restraints
Microcrystalline cellulose has large scale applications in the pharmaceutical, food and beverage, and personal care industries. In the food and beverage industry, microcrystalline cellulose is added to processed food to create a creamy and smooth feel in mouth. It is mostly used to prepare low-fat dairy products such as frozen yogurt, whipped cream, and ice cream. In the pharmaceutical industry, it is used as a filler, a disintegrating agent, an anti-sticking agent, an adsorbent, and a capsule diluent.
Growth in the consumption of processed food across the globe majorly drives the global microcrystalline cellulose market. Increase in the consumption of processed food has augmented the use of microcrystalline cellulose as an additive, which in turn boosts the market growth. Moreover, the consumption of pharmaceutical products, such as tablets and capsules, is expected to fuel the demand for microcrystalline cellulose.
However, volatile prices and availability of substitute products have restricted the growth of the global microcrystalline cellulose market. Conversely, rise in disposable income of people in developing economies of Asia-Pacific is anticipated to provide new opportunities for market players.
Global Microcrystalline Cellulose Market: Forecast by Type and Application
Based on source type, the global microcrystalline cellulose market is categorized into wood-based and non-wood-based segments. Non-wood-based microcrystalline cellulose is the most lucrative segment of the global microcrystalline cellulose market, owing to the cost-effectiveness of this synthesis method.
By application, the global microcrystalline cellulose market is divided into pharmaceutical, food and beverage, cosmetics and personal care, and others. Each application is deeply analyzed in the report on the basis of market share, value, growth, and other vital factors.
Global Microcrystalline Cellulose Market: Forecast by Region
Based on region, the global microcrystalline cellulose market is analyzed in relation to the growth in North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific microcrystalline cellulose market is expected to witness high growth during the forecast period due to the increasing demand for pharmaceutical products. Furthermore, the high demand for low-fat dairy products in the region is expected to boost the growth of microcrystalline cellulose market.
Global Microcrystalline Cellulose Market: Key Players
The key players profiled in this report are DowDuPont, Rayonier Advanced Material, FMC Corporation, Asahi Kasei Chemicals Corporation, Roquette, DFE Pharma GmbH & Co.KG, Accent Microcell Pvt. Ltd., JRS PHARMA GmbH & Co. KG, Sigachi Industries Pvt. Ltd., and Ming Tai Chemical Co. Ltd.
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