Microcrystalline Cellulose Market Size, Share, Demand and Trends by 2022-2028
The global microcrystalline cellulose market is expected to create an opulent growth opportunity in the global arena by exhibiting a stable CAGR of 4.7% throughout the forecast period from 2022 to 2028. Sales in the global microcrystalline cellulose market are valued at US$ 619.80 Mn in 2022 and are expected to surpass US$ 818 Mn in 2028.
According to the detailed analysis by Future Market
Insights, the variation between the BPS values observed in the Microcrystalline
Cellulose market in H1, 2022 - Outlook over the first half of 2022 Projected
reflects a spike of 20 basis point share. However, compared to the first half
of 2021, the market is expected to gain about 90 BPS in the first half of 2022.
Future Market Insights has presented a half-yearly
growth comparison forecast for the microcrystalline cellulose market’s key
developments and other prominent market aspects. The demand for
microcrystalline cellulose is on the rise due to its extensive end-use
application in industries such as cosmetics & personal care,
pharmaceuticals, and food & beverages among others.
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Key
Takeaways
- Sales
in the microcrystalline cellulose market are expected to surge over the
forecast years due to drastic changes in consumer preference for
plant-based ingredients in cosmetics and personal care products. Owing to
these shifting consumer preferences have led to a higher demand for
microcrystalline cellulose in the global market.
- The
innovation of non-wood-based alternatives crafted from agricultural waste
has augmented growth in the microcrystalline cellulose market.
Furthermore, its rising demand in various industries including paints
& coatings, personal care & cosmetics, and pharmaceuticals is
expected to continue steering the growth of the market.
- The
food & beverage sector is expecting to surge in demand for
microcrystalline cellulose owing to the growing demand for processed food
like bakery products and dinner ready-to-eat food are expected to drive
growth in the market. Its increased usage in meat products, bakery &
confectionery, and dairy products will push sales in the market.
- The
rapid demand for microcrystalline cellulose witnessed an opulent growth
during the first half of the forecast period from the pharmaceuticals
industry due to its increasing utilization in pharmaceuticals drugs &
medicines production. In addition to that, the surging demand for
processed food is another vital reason to bolster growth in the market
size.
- Microcrystalline
cellulose is derived from refined wood pulp and is widely used as a fat
substitute, anti-caking agent, texturizer, extender, emulsifier, and
bulking agent in various food and beverage products. Besides its usage in
the food & beverage industry, microcrystalline cellulose finds
applications in the pharmaceutical sector in the production of chewable
tablets and topical ointments.
- Rising
demand for the personal care & cosmetics industry is creating
lucrative growth opportunities in the microcrystalline cellulose market.
Competitive
Landscape
Manufacturers and key market players are heavily investing
in technology to integrate microcrystalline cellulose (MCC) as an exfoliating
agent in the personal care products such as face washes, body scrubs, and
foaming powders.
The key market trends that are willing to accelerate
microcrystalline cellulose market growth facilitate enhancements through
acquisitions, expansions, and collaborations along with hefty investment in
research & development.
Amidst the global pandemic, pharmaceutical companies
have surged their research and development efforts in order to help the
development of novel drugs and other active pharmaceutical ingredients (APIs)
which will propel the market growth across the forecast period.
More
Insights into the Microcrystalline Cellulose Market
The North American region is expected to register
opulent growth over the forecast period, as the market accounts for 24.9% of
the total revenue share in the global market in 2022. The United States market
is expected to grow at a robust CAGR of 4.6% over the assessment period.
The United Kingdom is expected to dominate the global
microcrystalline cellulose market by securing around 67.4% of the total market
share in 2022. According to FMI reports, the U.K. is projected to surge at a
3.1% CAGR with the ongoing expansion of the pharmaceutical and healthcare
sectors. These factors will continue boosting the market across the assessment
period.
India is projected to showcase lucrative growth
opportunities across the forecast period by exhibiting a healthy CAGR of 7.1%
throughout the forecast period. The increasing production and consumption of
processed and ready-to-eat foods have led to a surge in the microcrystalline
cellulose market in developing countries like India.
Microcrystalline
Cellulose Market by Category
Material:
- Wood-Based
- Non-Wood
Based
Applications:
- Food
& Beverages
- Pharmaceuticals
- Cosmetics
& Personal Care
- Paints
& Coatings
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia
- Oceania
- Middle
East & Africa
Browse
Full Report: https://www.futuremarketinsights.com/reports/microcrystalline-cellulose-market
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