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The microcrystalline cellulose (MCC) market size is estimated to grow at a CAGR of 6% between 2022 and 2027. The market size is forecast to increase by USD 401.24 million. The growth of the market depends on several factors such as the growth of the pharmaceutical industry, the rapid growth in online sales of microcrystalline cellulose products, and the increase in research and development activities.
This microcrystalline cellulose market report extensively covers market segmentation by application (pharmaceutical, food and beverage, cosmetics and personal care, and others), material (wood-based and non-wood-based), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the microcrystalline cellulose market growth is the growth of the pharmaceutical industry. There is an increasing adoption of microcrystalline cellulose across the pharmaceutical industry for different purposes such as stabilizers, binders, film-forming agents, suspension agents, disintegrants in tablet formulations, and in the formulation of other therapeutic bases. Additionally, it is mainly used as an excipient in the pharmaceutical industry.
Moreover, there is an increasing usage of microcrystalline cellulose in the manufacturing of pharmaceutical products including tablets, capsules, sachets, and others. Furthermore, the significant growth of the pharmaceutical industry in developing countries including China, Brazil, and India is expected to positively impact the microcrystalline cellulose (MCC) market growth. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the microcrystalline cellulose market growth is the growth of non-wood-based microcrystalline cellulose. The microcrystalline cellulose that is manufactured by using non-wood sources will have a lesser environmental impact when compared to wood-sourced microcrystalline cellulose. Moreover, some of the main ingredients for manufacturing these microcrystalline celluloses are agricultural waste and non-wood sources and they are relatively cheaper than the wood sources, leading to cheaper end-products.
Therefore, the cheaper price of microcrystalline cellulose will fuel the increasing consumption of microcrystalline cellulose across different segments. Hence, such factors are positively impacting the microcrystalline cellulose (MCC) market. Therefore, it is expected to drive the market growth during the forecast period.
The availability of substitutes for microcrystalline cellulose is one of the key challenges hindering the microcrystalline cellulose market growth. There are several substitutes for microcrystalline cellulose such as carboxymethyl cellulose (CMC), kappa-carrageenan, and croscarmellose sodium (CCS) which can be extensively used across the food and beverage industry for the purpose of stabilizing emulsions like ice creams and baking products. As a result, there is a decline in demand for microcrystalline cellulose.
Moreover, there is a growing preference among consumers towards other affordable and easily available alternatives for similar requirements. Hence, the easy availability of other alternatives of microcrystalline cellulose fulfilling the same purpose can negatively impact the microcrystalline cellulose (MCC) market. Hence, such factors are expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Microcrystalline Cellulose Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accent Microcell Pvt. Ltd: The company offers microcrystalline cellulose which is used as a texturizer, an anti-caking agent, a fat substitute, an emulsifier, an extender, and a bulking agent in food production.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pharmaceutical segment is estimated to witness significant growth during the forecast period. One of the main factors that is significantly contributing to the growth of the global microcrystalline cellulose market is the growth of the pharmaceutical industry. There is extensive use of microcrystalline cellulose as an excipient in the pharmaceutical industry, especially in the form of solid dose-like tablets that contain excellent compressibility properties.
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The pharmaceutical segment was the largest segment and was valued at USD 379.78 million in 2017. The main advantage of microcrystalline cellulose is that it can bind, stabilize, and be used as a film-forming agent, suspension agent, and disintegrant in tablet formulations, ointments, and other forms of topical bases. Additionally, the microcrystalline cellulose used in the pharmaceutical industry is essentially distributed as a white, freely flowing fibrous power and utilized as a binding agent in pharmaceutical formulations and drug preparations including tablets, capsules, sachets, and others. Therefore, the increasing manufacturing of pharmaceutical products is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to market players is Europe. Some of the main countries in Europe which are leading producers and consumers of microcrystalline cellulose include Germany, France, Italy, and Russia. The growing demand for pharmaceutical products in Europe is expected to positively impact the market growth in the region.
Additionally, there is an increasing adoption of microcrystalline cellulose across the food and beverage industry in the region as a food additive to increase the nutritive value of dietary supplements and energy drinks. The main use of microcrystalline cellulose across the food and beverage industry is as a stabilizing, suspending, and thickening agent in food and beverages. It is expected to have an increase in the usage of microcrystalline cellulose across the food and beverages industry in countries such as France, Germany, Italy, Russia, and Spain as these countries use food additives in food items to enhance their texture and taste. Hence, such factors are expected to drive market growth in Europe during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global microcrystalline cellulose market witnessed a significant slowdown due to a halt in operations across all industries such as cosmetics and personal care, paints and coating, and others in Europe. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of manufacturing and distribution activities in all the end-user industries, like food and beverage, cosmetics and personal care, and others. Such factors are expected to drive the market during the forecast period.
The microcrystalline cellulose market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Microcrystalline Cellulose Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2023-2027 |
USD 401.24 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.55 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accent Microcell Pvt. Ltd., Amishi Drugs and Chemicals Pvt Ltd, Asahi Kasei Corp., Ashok Chem Pharma International, Avantor Inc., CelluTech Pharma Pvt. Ltd., Chemfield Cellulose Pvt. Ltd., DuPont de Nemours Inc., Foodchem International Corp., J RETTENMAIER and SOHNE GmbH and Co KG, Libraw Pharma Excipients Pvt. Ltd., Maple Biotech Pvt. Ltd., MINGTAI CHEMICAL CO. LTD, NB Entrepreneurs, Pharmatrans Sanaq AG, Quadra Chemicals Ltd., Roquette Freres SA, Royal FrieslandCampina NV, Sigachi Industries Ltd., and SixRing Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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