Far-Fetched Applications of Microcrystalline Cellulose across Various End-use Industries to Bring Considerable Growth; Microcrystalline Cellulose Market to Expand at CAGR of ~6% between 2019 and 2027: TMR

ALBANY, N.Y., July 23, 2020 /PRNewswire/ -- Microcrystalline cellulose is ubiquitously used among a variety of applications across end-users such as pharmaceuticals, food and beverages, personal care, and others. The exhilarating use of microcrystalline cellulose in pharmaceuticals may bring extensive growth opportunities for the microcrystalline cellulose market. Enhancing disposable income of individuals and rapid urbanization across developing economies may assist in providing good growth for the microcrystalline cellulose market.

Based on the aforementioned parameters, Transparency Market Research (TMR) predicts a CAGR of ~6% for the global microcrystalline cellulose market across the forecast period of 2019-2027. The valuation of the global microcrystalline cellulose market may cross US$ 1.46 bn by 2027.

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The rapid escalation in population numbers across emerging economies in turn brings expansive growth opportunities for the food and beverage industry, thus bringing tremendous growth for the microcrystalline cellulose market. This is because of the use of cellulose across various food products. The lockdown period has also led to individuals focusing on their health. Therefore, this factor has triggered a rise in the consumption of nutraceuticals. As microcrystalline cellulose is an important component in nutraceuticals, it may experience a great rise in the growth rate.

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Microcrystalline Cellulose Market: Key Revelations

• The pharmaceuticals and food and beverage segment acquired more than 50% of market share in 2018; it is expected to continue at the same rate across the forecast period of 2019-2027
• Cosmetic care and personal care applications may gain an upper hand in growth and may prove to be a significant growth contributor for the microcrystalline cellulose market
• Europe and North America held a prominent growth share in terms of region in 2018
• Wide-ranging demand for pharmaceuticals from the U.S. and the growing influence of processed food industry in Western Europe may serve as prominent growth indicators for the microcrystalline cellulose market

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Microcrystalline Cellulose Market: Growth Propellers

The microcrystalline cellulose market may gain extra stars of growth across the forecast period of 2019-2027 on the back of the rising popularity of biological leavening agents and the growing demand for packaged food.

• The prominence of microcrystalline cellulose component in the manufacturing of pharmaceutical products such as capsules, tablets, and pellets may serve as positive growth influencers for the microcrystalline cellulose market
• The use of microcrystalline cellulose in numerous food items such as canned meat, ice cream, frozen food, and condiments for stabilizing them may bring promising growth opportunities for the microcrystalline cellulose market
• Microcrystalline cellulose is used widely in the production of skin care products and cosmetics and may bring noticeable growth for the microcrystalline cellulose market across the forecast period of 2019-2027

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Microcrystalline Cellulose Market: Growth Restrainers

Microcrystalline cellulose is mainly obtained from purified cotton and hardwood, as they contain maximum cellulose content. The production cost etched with the deriving of microcrystalline cellulose from these materials may serve as a sore eye for stakeholders contributing to thegrowth of the microcrystalline cellulose market. Many raw materials are being tested for checking the cellulose content. Numerous sources have a varied percentage of cellulose content. This aspect proves to be an obstacle for the production of cellulose, thus dampening the growth of the microcrystalline cellulose market.

In addition, neck-to-neck competition from substitutes like carboxymethylcellulose, pectin, xanthan gum, etc may hamper the growth rate of the microcrystalline cellulose market.

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Global Microcrystalline Cellulose Market: Segmentation

By End-Use

• Food and Beverage
• Pharmaceutical
• Personal Care
• Other End-uses

By Region

• North America
• Europe
• Asia Pacific
• Middle East
• Latin America

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Wax Market - The report points out that the rising base of end-use industries such as adhesives, rubber, cosmetics, packaging, candles, and wood and fire-logs is driving the global wax market. The growing demand from the packaging and cosmetics industries is particularly contributing towards the growth of the market. However, the closure of Group I base oil refineries will inhibit the growth of the global wax market during the forecast horizon.

Carboxymethyl Cellulose Market - The global carboxymethyl cellulose market was valued at ~US$ 1 Bn in 2019 and is anticipated to expand at a CAGR of 3.5% from 2020 to 2030. Characteristics of carboxymethyl cellulose such as thickening ability, rheology modification, water retention, filtration reduction, and binding ability are expected to drive the demand for carboxymethyl cellulose in the near future. Asia Pacific accounted for a major share of the global carboxymethyl cellulose market in 2019.

Cellulose Ether Market - The cellulose ether market is anticipated to expand at a significant pace during the forecast period, owing to unique properties of cellulose ether, which cannot be substituted with any other, economical alternative. Additionally, the availability of raw materials required for the production of cellulose ether and low cost of production can propel the global demand for cellulose ether during the forecast period.

Cellulose Acetate Fiber Market - In terms of region, the Cellulose Acetate Fiber Market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific was leading consumer of cellulose acetate fibers in past few years. China had the largest consumption of Cellulose Acetate Fiber Market in the region. Countries such as Japan, ASEAN, and India are also likely to exhibit excellent growth over the coming years.

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