New York, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global microcrystalline cellulose market size is slated to expand at ~6% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 1.85 billion by the end of 2035, up from a revenue of ~USD 920 million in the year 2022.backed by the consistently evolving pharmaceutical industry worldwide. For instance, India is known for its affordable vaccines and generic medications and is the largest provider of generic drugs globally. A total of USD 40 billion is invested in the Indian pharmaceutical industry worldwide. Microcrystalline cellulose is used in tablet formulations owing to its superior compressibility properties, which allow for the tablet to be compressed into the desired shape and size.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4614
Additionally, it is used as a strong dry binder, tablet disintegrant, absorbent, filler or diluent, lubricant, and anti-adherent, making it an ideal excipient for pharmaceutical manufacturing. Additionally, it is non-toxic, non-allergenic, and has excellent flow properties, making it an ideal excipient for pharmaceutical manufacturing. The increasing development of pharmaceutical products is expected to drive the market.
Microcrystalline Cellulose Market: Key Takeaways
- In North America, the market is expected to grow at the fastest rate
- The Non Wood Based segment is expected to garner the highest growth in the market
- Market in Asia Pacific to grow at a highest rate
Increased Popularity of 3D Printing Along with the Use of Biodegradable Materials to Boost Microcrystalline Cellulose Market Growth
3D printing technology has facilitated the rapid expansion of the 3D printing industry, making it easier to produce products. In spite of the pandemic, the 3D printing industry increased by 7% to nearly USD 12 billion in 2020. The 3D printing industry is forecast to grow at an exponential rate between 19% and 26% per year, according to various analysts. The use of bio-composites, such as microcrystalline cellulose, reduces the need for energy and materials associated with traditional manufacturing processes, since 3D printing can be done more quickly and with less material waste. The demand for such composites is owing to their low toxicity and easy disposal, which reduces environmental hazards and prevents the accumulation of hazardous substances. In addition, the microcrystalline cellulose acts as a filler, helping to fill in the pores and gaps in the 3D structure and creating a smoother surface. The microcrystalline cellulose also absorbs energy, which helps to reduce the warping and cracking of the 3D printed structures. In addition, it helps to create a more uniform and consistent 3D printed structure.
Microcrystalline Cellulose Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rise in Dietary Supplement Consumption and Increasing Obesity to Drive Growth in the North American Region
The microcrystalline cellulose market in the North America region is estimated to garner the largest revenue by the end of 2033, backed by the increase in the consumption of diet supplements and a need for low-fat food owing to a growing obese population in the region. An estimated 37% of American adults suffer from obesity. Overweight is another problem faced by 32% of American adults. Approximately two-thirds of American adults are overweight or obese. MCC is a great alternative to traditional fats as it is lower in calories, fat, and cholesterol, which makes it a healthier option for people looking for a fat-free or low-fat alternative. Additionally, it has a neutral flavor and does not affect the taste or texture of food, making it a popular choice among food manufacturers. Moreover, consumers in the region are increasingly gravitating towards beauty and personal care products, as they become more aware of the importance of grooming and personal appearance. This is further augmented by the rising disposable income among middle-class households in the region, allowing them to spend more on such products. Approximately 26 million Americans use moisturizer and lotion on their faces 15 times a week or more. As microcrystalline cellulose becomes increasingly popular as a thickening agent in cosmetic products, such as moisturizers, sunscreens, and foundations, the microcrystalline cellulose market for the product is expected to grow dramatically. It also helps to bind ingredients together and give products a smooth, creamy texture.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-4614
Rise in Incidences of Various Diseases to Drive the Growth in the Asia Pacific Region
The microcrystalline cellulose market in Asia Pacific region is estimated to garner highest CAGR by the end of 2033 backed by increasing prevalence of diseases and rapid growth of pharmaceutical manufacturing companies. In an analysis of the infection rate in India, the study revealed that more than 34% of the total sick population suffers from infectious diseases. Also, a reported 22% of the elderly in India are diagnosed with at least one chronic disease. The demand for microcrystalline cellulose is directly related to the demand for pharmaceuticals, as it is one of the most commonly used ingredients in the production of drugs. As diseases become more prevalent, and with government and insurance policies that make medications more affordable, consumers become more likely to purchase medications, which in turn increases the demand for microcrystalline cellulose. Additionally, the availability of medicine in the region is also a contributing factor to the demand for microcrystalline cellulose, as it is a critical ingredient in the production of drugs. Moreover, research and development spending by companies amid an increase in pharmaceutical and drug development demand, as well as pharmaceutical companies' persistent efforts to provide patients with cutting-edge medicines, are also expected to boost regional market growth. For instance, Alembic Pharma develops, manufactures, and markets pharmaceutical products, including formulations and APIs. There are three R&D facilities at the company. Company R&D spending in fiscal 2021 amounted to 15% of turnover.
Microcrystalline Cellulose, Segmentation by Application
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
The food & beverage segment in microcrystalline cellulose market is anticipated to hold the largest revenue by the end of 2033 owing to the rapid expansion of the food industry as a result of a shift in lifestyles leading to an increase in demand for convenience foods. It was observed that fast food restaurants comprise 196,600 businesses in the United States as of 2021. Additionally, the fast food industry has generated USD 798 billion in revenue globally through 2021, and 37% of Americans, nearly 50 million people consume fast food every day. Consumers are increasingly inclined towards healthy eating and are looking for more innovative, nutritional, and convenient food options. This has led manufacturers to develop products with improved nutritional values that are easy to prepare and have a longer shelf life. MCC is widely used in the food industry as it is tasteless and odorless, does not change the flavor of the food, and is an effective thickener, emulsifier, and stabilizer. It also helps to reduce fat and sugar content in food products, which is increasingly desired by consumers. Additionally, it helps to improve the texture and shelf life of food products, making them more appealing and convenient. Hence, the growing popularity of MCC in the food and beverage industry is expected to augment segment growth over the forecast period.
Request for Customization of this Report @ https://www.researchnester.com/customized-reports-4614
Microcrystalline Cellulose, Segmentation by Raw Material Source
- Wood-Based
- Non-Wood-Based
The non-wood based segment in microcrystalline cellulose market is anticipated to hold the largest revenue by the end of 2033. Non-wood sources are seen as a more sustainable alternative to traditional wood-based MCC production as non-wood sources are more abundant, require less energy to produce, and result in less waste. Furthermore, non-wood sources can produce higher-quality MCC than wood-based sources. Non-wood-based MCC is produced from agricultural waste, which is abundant and relatively inexpensive compared to other raw materials like wood. Consequently, it is much more cost-effective than wood-based MCC, which allows manufacturers to pass the savings along to consumers. Furthermore, a reduction in wood supply and increased prices of lumber are expected to increase the use of wood substitutes such as agricultural residues, which are an excellent substitute for the production of Microcrystalline Cellulose, thus enhancing segment growth. It has been observed that lumber prices have increased 15% so far in 2023 after a significant decline in 2022. In addition, agricultural residues, such as corn stover, are abundant and renewable, making them an attractive choice for the production of Microcrystalline Cellulose.
Few of the well-known industry leaders in the microcrystalline cellulose market that are profiled by Research Nester are DowDuPont, Asahi Kasei Chemicals Corporation, Rayonier Advanced Materials, Roquette, DFE Pharma GmbH & Co.KG, JRS Pharma GmbH & Co.KG, Avantor Performance Materials Inc., Gujarat Microwax Limited, Sigachi Industrial Pvt. Ltd., Huzhou City Linghu Xinwang Chemical Co., Ltd., and other key market players.
Recent Development in the Microcrystalline Cellulose Market
- A division of FMC Corporation specializing in health and nutrition has been acquired by DowDuPont. Through the acquisition, the company has expanded its capabilities in the area of pharmaceutical excipients. Also, the acquisition allowed the company to gain new ingredients for MCC.
- DFE Pharma GmbH & Co.KG has entered into an agreement with DKSH Management Ltd. to distribute its products in eight European countries, including Denmark, Finland, Norway, Sweden, Switzerland, France, and the UK. As part of the agreement, DKSH was appointed as the distributor of DFE's Pharma grade MCC for the pharmaceutical industry.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.