Global microcrystalline cellulose market is estimated to be valued at US$ 1,029.2 Million in 2021, according to the Global Microcrystalline Cellulose Market Report, by Source Type (Wood Based, Non-wood Based), By End Use Industry (Pharmaceutical, Food & Beverages, Cosmetics & Personal Care and Others) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global microcrystalline cellulose market was valued at US$ 1,029.2 Million in 2021. The microcrystalline cellulose market is expected to register a CAGR of 6.7% over the forecast period (2022–2030) to reach US$ 1,846.5 Mn by 2030. The major factor propelling growth of this market is, growing application of microcrystalline cellulose in the pharmaceutical industry. This is attributed to high compressibility of microcrystalline cellulose (MCC), which provides hard texture to a tablet that dissolves quickly. In addition to this, it is widely used as a filler and binder in drug formulations, owing to its strong binding properties. Furthermore, microcrystalline cellulose is used as an anti-caking agent, stabilizer, and texture modifier in several processed food products such as frozen desserts, dairy, and bakery products. This wide application of microcrystalline cellulose is anticipated to confer a boost to the global microcrystalline cellulose market during the forecast period..
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Key Trends and Analysis of the Global Microcrystalline Cellulose Market:
- Based on source type, the global microcrystalline cellulose market is segmented into wood based and non-wood based. Non-wood based segment includes bacteria, fungi, marine animals, and algae. Non-wood based MCC segment is anticipated to record a substantial growth over the forecast period. This is, owing to increasing use of this type of MCC over wood-based as it is cost-effective.
- Among end-use industries, pharmaceutical segment accounted for the largest share in the global market of MCC, in 2021. This is due to extensive usage of MCC in a wide range of oral dosage such as tablets, capsules, and pellets. In addition to this, steadily growing demand for MCC, in food processing industry is expected to boost growth of market over the forecast period.
Key Takeaways of the Global Microcrystalline Cellulose Market:
- Based on source type, the global microcrystalline cellulose market is segmented into wood based and non-wood based. Non-wood based segment includes bacteria, fungi, marine animals, and algae. Non-wood based MCC segment is anticipated to record a substantial growth over the forecast period. This is owing increasing use of this type of MCC over wood-based as it is cost-effective.
- Among end-use industries, pharmaceutical segment accounted for the largest share in the global market of MCC, in 2021. This is due to extensive usage of MCC in a wide range of oral dosage such as tablets, capsules, and pellets. In addition to this, steadily growing demand for MCC, in food processing industry is expected to boost growth of market over the forecast period.
- New Product launches, development of new technologies, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global microcrystalline cellulose market. In December 2021, DFE Pharma, a global leading market player in pharmaceutical excipient solutions, had launched a virtual booth for the Chinese market to interact, connect and share experiences with its partners and customers. Through this virtual booth, the company’s customers can learn more about DFE Pharma’s portfolio in biopharma, inhalation and oral solutions dosage as well as the company’s latest innovative approaches including continuous manufacturing and 3D printing of various biologics.
