New York, USA, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The microcrystalline cellulose market was estimated at USD 1,122.46 million in 2023. The market valuation is expected to be USD 2,095.05 million by 2032, registering a staggering CAGR of 7.2% during the forecast period of 2024-2032.
What is Microcrystalline Cellulose?
Microcrystalline cellulose is a clarified wood pulp that appears as a white, free-flowing powder. Chemically, it is a motionless substance, is not debased during digestion, and has no substantial absorption. In extensive aggregate, it offers dietary magnitude and may cause laxative influence. It is commonly utilized excipient in the pharmaceutical industry. It has outstanding resilient attributes and is utilized in solid dose configurations such as tablets. Tablets can be configured that are dense but dissolve speedily. It is also detected in several processed food commodities and might be used as an anti-caking agent, stabilizer, texture transformer, and suspending instrument amidst other usages.
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Key Market Stats:
- Microcrystalline cellulose market size was valued at USD 1122.46 million in 2023.
- The market is anticipated to grow from USD 1201.26 million in 2024 to 2095.05 million by 2032.
- The market is expected to exhibit a CAGR of 7.2% during the forecast period.
Major Findings from the Report:
- The market for microcrystalline cellulose is expected to increase significantly due to it being utilized as a binder, bulking agent and disintegrant in pharmaceutical tablets and capsules.
- The microcrystalline cellulose market segmentation is mainly based on source, form, grade, end-use, and region.
- North America registered as the largest market share.
Microcrystalline Cellulose Market Drivers and Trends:
- Growing Demand from Pharmaceutical Industries: The market is encountering secured growth due to the growing demand from the pharmaceutical industry propelled by the growing pervasiveness of detrimental illnesses and the requirement for inventive drug expression. The food and beverage industry also contributes to the market growth, especially in low-fat and low-calorie commodities, where MCC behaves as a fat proxy and texture consolidation.
- Growing Geriatric Population: The surging pharmaceutical industry demand is pushing the market CAGR due to its securing attributes, solidity, and security depiction. The industry is encountering strong development pushed by geriatric populations, growing healthcare requirements, and the growing pervasiveness of detrimental illnesses.
- Growing Usage as Texturizer: The surge in the food and beverage industry notably influences the demand for the market due to its multipurpose attributes. MCC is extensively utilized as a texturizer and fat restorer, rendering it as an important constituent in several food commodities. Its capacity to enhance the appearance and solidity of food items without appending calories renders it an essential material in the food and beverage sector, improving the microcrystalline cellulose market demand.
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Industry’s Prominent Players:
- Ankit Pulps and Boards
- Apollo Scientific Ltd
- Asahi Kasei Corporation
- Azelis
- DFE Pharma
- Fengchen Group Co., Ltd.
- GODAVARI BIOREFINERIES LTD.
- International Flavors & Fragrances Inc. (IFF)
- JRS PHARMA
Geographical Landscape:
North America accounted for the most microcrystalline cellulose market share. This is a result of the region's entrenched and strong pharmaceutical sector, which is one of the prominent administrations of MCC. The region's concentration on research and development, together with the existence of prominent pharmaceutical firms, pushes the demand for high-standard excipients such as MCC.
Moreover, due to the concentration towards surfacing markets in Eastern Europe and beyond, the European region is anticipated to grow at the quickest rate over the forecast period, with a robust compound annual growth rate (CAGR).
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Market Segmentation:
Microcrystalline Cellulose Market – Source Based Outlook:
- Wood Based
- Non-Wood Based
Microcrystalline Cellulose Marke – Form Based Outlook:
- Liquid
- Powder
Microcrystalline Cellulose Market – Grade Based Outlook:
- Grade 101
- Grade 102
- Grade 200
- Grade 301
- Grade 302
- Others
Microcrystalline Cellulose - End Use Based Outlook:
- Pharmaceutical
- Food & Beverages
- Paints and Coatings
- Cosmetics & Personal Care
- Others
Microcrystalline Cellulose - Regional Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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