Press release
Microcrystalline Cellulose Market to Cross USD 2.1 billion at a CAGR of 7.0 % by 2031
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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Market Segmentation
By Service Type
Direct Compression
Dry Powder
Wet Granulation
Others
By Sourcing Type
Wood-Based
Non-Wood Based
By Application
Pharmaceuticals
Food & Beverages
Cosmetics & Personal Care
Others
By Industry Vertical
Healthcare
Food Processing
Personal Care & Cosmetics
Others
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Regional Analysis
North America: Dominates the market due to high demand in pharmaceuticals and food & beverage industries.
Europe: Significant growth due to stringent regulations favoring the use of safe and natural additives.
Asia-Pacific: Expected to witness the highest growth rate, driven by rapid industrialization, urbanization, and increased consumer spending on healthcare and cosmetics.
Latin America and Middle East & Africa: Emerging markets with substantial growth potential due to increasing industrial activities and rising health awareness.
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Market Drivers and Challenges
Market Drivers
Increasing Pharmaceutical Production: The growing prevalence of chronic diseases is boosting pharmaceutical production, where MCC is widely used as a binder.
Rising Demand for Processed Foods: Urbanization and lifestyle changes are driving demand for processed and convenience foods, increasing the need for MCC as an additive.
Growth in Cosmetic Industry: The expanding cosmetic and personal care market relies heavily on MCC for its bulking and stabilizing properties.
Health and Wellness Trends: Rising health consciousness is leading consumers to prefer products with natural and safe ingredients like MCC.
Market Challenges
Raw Material Price Volatility: Fluctuating prices of raw materials, particularly wood pulp, can impact the cost structure of MCC.
Stringent Regulatory Requirements: Compliance with stringent regulations for food and pharmaceutical products can pose challenges for market players.
Competition from Substitutes: Availability of alternative substances can pose a threat to market growth.
Market Trends
Innovation in Pharmaceutical Applications: Development of advanced formulations and drug delivery systems incorporating MCC.
Sustainable Sourcing: Increasing focus on environmentally sustainable and non-wood-based sources of MCC.
Expansion in Emerging Markets: Companies are expanding their footprint in emerging economies to tap into new opportunities.
Technological Advancements: Improvements in production technologies to enhance the quality and functionality of MCC.
Future Outlook
The future of the microcrystalline cellulose market looks promising with continued growth anticipated across all regions. Innovations in applications and sustainable sourcing practices are expected to drive market expansion. The pharmaceutical and food & beverage sectors will remain the primary consumers, while emerging markets offer new growth opportunities.
Key Market Study Points
Understanding the impact of regulatory changes on MCC production and application.
Analysing the cost structure and pricing trends of MCC.
Identifying growth opportunities in emerging markets.
Assessing the competitive landscape and key player strategies.
Competitive Landscape
The microcrystalline cellulose market is highly competitive, with key players including FMC Corporation, DuPont, DFE Pharma, and Asahi Kasei. These companies are focusing on product innovation, strategic partnerships, and expansion into new markets to maintain their market position.
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Recent Developments
FMC Corporation: Expanded its production capacity to meet growing demand in the pharmaceutical sector.
DuPont: Launched a new range of MCC products targeting the food and beverage industry.
DFE Pharma: Announced a strategic partnership with a major pharmaceutical company to develop innovative drug formulations.
Asahi Kasei: Invested in sustainable sourcing initiatives to enhance its product portfolio.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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