Global Microcrystalline Cellulose Market: Forecast till 2027
The global Microcrystalline Cellulose Market is expected to exhibit a healthy CAGR of 6.78% to surpass USD 1,204.7 Million by the forecast period 2027. Microcrystalline cellulose (MCC) is a refined wood mash utilized as an enemy of a building up specialist, an emulsifier, a fat substitute, a texturizer, an extender, and a building specialist. It is ordinarily utilized as tablets or enhancements. It is created by controlled hydrolysis of profoundly filtered alpha-cellulose, acquired from normally happening wood cellulose with mineral acids. Microcrystalline cellulose is also applicable in personal care and cosmetic products, creating profitable opportunities for market players.
Microcrystalline Cellulose Market is expected to witness a substantial market growth rate during the forecast period. The regional market growth is driven by the increasing demand for MCC as pharmaceutical excipients. Moreover, the increasing food & beverage industry, changing consumer lifestyles, growing per capita disposable income, and rising purchasing power of the people are expected to witness the largest market growth of the microcrystalline cellulose market during the forecast period. However, the availability of microcrystalline cellulose substitutes is expected to restrain the growth of this market.
Global Microcrystalline Cellulose Market has been classified into Source, End-Use Industry, and Region.
Based on source type, the Global Microcrystalline Cellulose Market has been divided into wood-based and non-wood-based. The wood-based source segment is expected to register the highest market growth owing to 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.
In terms of the end-use industry, the microcrystalline cellulose market has been classified into pharmaceutical, food & beverages, cosmetics & personal care, and others. The pharmaceutical segment led the global market with more than 40% market share in 2019. among people. The food & beverage segment is evaluated to hold a significant market share in the global microcrystalline cellulose market.
Geographically, the Microcrystalline Cellulose Market has been spread across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific accounted for the largest market share of more than 40% market in 2019, with a market value of approximately USD 587.3 million. The regional market growth is driven by the increasing urbanization and growing industrialization in the developing economies of Asia-Pacific, especially in China, Japan, and southeast Asian nations.
North America held the second-largest market share owing to the existence of established players in the region, with the US being the largest market.
The Major 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.
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