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
- Food and Beverage
- Personal Care
- Other End-uses
- North America
- Asia Pacific
- Middle East
- Latin America
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