Wilmington, Delaware, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The microcrystalline cellulose industry size stood at US$ 1.2 billion in 2022. A CAGR of 7.0% is expected from 2023 to 2031, reaching US$ 2.1 billion in 2031. As consumers become more aware of health and wellness, dietary supplements are becoming increasingly popular. As a binding agent and because of its inert nature, microcrystalline cellulose is used in supplements.
Microcrystalline cellulose may be used in new applications and manufactured in improved ways amid ongoing research and development. Bringing innovations to the market can help drive the growth of the market. Due to the trend towards sustainable and eco-friendly products, there is an increasing interest in bio-based and renewable materials. Plant-derived microcrystalline cellulose fits with this trend, and sustainable alternatives could be growing in popularity.
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A variety of industries use microcrystalline cellulose and regulatory approvals and guidelines may influence market dynamics. A manufacturer's compliance with quality and safety standards can affect the growth of their business. Microcrystalline cellulose is utilized in diverse industries by investing in research and development. There is potential for innovative applications in 3D printing, coatings, and biomedical fields by exploring its potential in these areas.
Providing customized formulations and tailoring microcrystalline cellulose products to meet industry needs is another opportunity. The advantage of this approach is that manufacturers can tailor their products to meet the unique needs of different sectors, enabling them to reach a wider market.
Global Microcrystalline Cellulose Market: Growth Drivers
- Microcrystalline cellulose remains a major ingredient in tablet formulations in the pharmaceutical industry. Increasing healthcare needs and global aging impact the use of microcrystalline cellulose, influenced by pharmaceutical products. Microcrystalline cellulose, as a food additive, gives a variety of processed foods their stability and texture.
- Convenience, processed foods, texture, and quality are in high demand in the food and beverage industry. The cosmetics and personal care industries are finding ways to use microcrystalline cellulose in creams, lotions, and powders. This ingredient is adopted because of its versatility and ability to enhance product texture. Microcrystalline cellulose production processes and applications are continuously innovated through research and development activities.
- Microcrystalline cellulose manufacturers have been exploring ways of improving the functionality and quality of this product, which may lead to potential market advancements. The trend towards sustainability influences plant-derived materials like microcrystalline cellulose. Increasing consumer and industry preference for eco-friendly products may influence market demand for microcrystalline cellulose.
Global Microcrystalline Cellulose Market: Key Players
The microcrystalline cellulose market report concludes with the company profiles section that includes key information such as company overview, financial overview, strategies, portfolio, segments, and recent developments. Most of the firms are adopting new technologies and strategies, and investing significantly in R&D activities.
- Asahi Kasei Corporation
- DuPont
- Sigachi Industries Limited
- DFE Pharma GmbH
- Accent Microcell
- Avantor Inc.
- Quadra Chemicals
- JRS Pharma
- Huzhou City Linghu Xinwang Chemical Co.
- FMC Corporation
Key Findings of the Market Report
- Based on raw materials, wood wood-based products are projected to drive demand for microcrystalline cellulose.
- Liquid form is anticipated to drive demand for microcrystalline cellulose.
- Europe held the largest market share for microcrystalline cellulose in 2022.
- Germany is a major market for microcrystalline cellulose in Europe.
- North America will hold the second-largest market share in 2022.
- Pharmaceutical and food & beverage companies drive the global microcrystalline cellulose market.
- A growing number of medical applications are expected to drive the demand for microcrystalline cellulose.
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Global Microcrystalline Cellulose Market: Regional Landscape
- Pharmaceutical formulations using microcrystalline cellulose are common in Europe, where the pharmaceutical industry is well established. Increasing healthcare demands and an aging population are likely to drive the demand for microcrystalline cellulose in Europe.
- As a texturizer and bulking agent, microcrystalline cellulose finds its use in the food and beverage industry in Europe for a variety of applications. The demand for microcrystalline cellulose is influenced by consumer preferences, processed food demand, and innovations in food products.
- Manufacturers in Europe must comply with stringent regulatory standards. Different industries may experience a decline in demand for MCC if regulatory requirements or approvals change. The health and wellness trend in Europe may lead to the use of microcrystalline cellulose in dietary supplements and other consumer products.
Key Developments
- In September 2023, Nitika Pharmaceuticals Specialties, a manufacturer of excipients, opened a microcrystalline cellulose (Tabcell) plant near Nagpur. Microcrystalline cellulose is manufactured at the largest facility in the country.
- In December 2023, Roquette, one of the world's leading providers of functional pharmaceutical and nutraceutical ingredients, launched three new excipient grades. Microcrystalline cellulose MICROCEL 103 SD and MICROCEL 113 SD, which were introduced at CPHI Barcelona, offer unique moisture-protective and stabilizing properties, giving pharmaceutical manufacturers greater flexibility in drug delivery methods.
Global Microcrystalline Cellulose Market: Segmentation
By Raw Material
- Wood Based
- Non Wood Based
By Form
- Powder
- Liquid
By Grade
- Grade 101
- Grade 200
- Grade 301
- Grade 302
- Others
By Application
- Medicine
- Food Products
- Cosmetics
- Dyes and Pigments
- Others
By End Use
- Pharmaceutical
- Food & Beverages
- Personal Care
- Paints & Coatings
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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