The global Microcrystalline Cellulose Market is estimated to be valued at US$ 1171.73 Mn or Million in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Microcrystalline cellulose is a partially depolymerized cellulose prepared by treating alpha cellulose obtained as a pulp from fibrous plant material with mineral acids. It is commonly used as a diluent, binder, glidant and anti-caking agent in pharmaceutical formulations.
Market key trends:
One of the key trends in the microcrystalline cellulose market is its increasing usage in dietary supplements and functional foods. Microcrystalline cellulose is widely used in dietary supplement tablets and capsules as an excipient and binder. It helps improve the flow properties and processing of supplements. The growing health consciousness and demand for nutritional and dietary supplements is thus augmenting the demand for microcrystalline cellulose. Additionally, microcrystalline cellulose is a popular fat substitute used in low-fat and reduced-calorie food products. It helps texturize foods and mimics the feel of fat in the mouth. The rising health concerns and demand for healthy and low-fat foods is fueling the adoption of microcrystalline cellulose in food applications.
SWOT Analysis
Strength: Microcrystalline cellulose has wide application in various industries such as food & beverage, pharmaceutical, and personal care which drives its demand. It is tasteless, odorless and chemically inert in nature.
Weakness: Fluctuation in raw material prices affects the cost of production of microcrystalline cellulose. Stringent regulations regarding use of excipients in pharmaceutical formulations.
Opportunity: Growing demand for microcrystalline cellulose in emerging economies of Asia Pacific due to rapid industrialization provides huge growth opportunities. Increasing investments in research & development of advanced grades of microcrystalline cellulose.
Threats: Availability of substitute products and easy availability of substitutes like starch may hamper the growth of microcrystalline cellulose market.
Key Takeaways
The global Microcrystalline Cellulose Market Demand is expected to witness high, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand from pharmaceutical industry. Microcrystalline cellulose finds wide application as an excipient in tablet making and is commonly used as a binder and disintegrant.
Regional analysis
Asia Pacific dominates the global microcrystalline cellulose market and is expected to grow at the fastest rate during the forecast period. Rapid industrialization and growing pharmaceutical industry in India and China drives the market in the region. Countries like Japan, South Korea are also significant consumers of microcrystalline cellulose in the region.
North America is another major market for microcrystalline cellulose owing to well-established pharmaceutical industry in U.S. and Canada. Europe holds substantial share in the global market.
Key players operating in the Microcrystalline Cellulose market are Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, Asahi Kasei Corporation, Dupont, Avantor Inc., Sigachi Industries Pvt. Ltd, Foodchem International Corporation, Quadra Chemicals, Maple Biotech Pvt. Ltd., Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Accent Microcell Pvt. Ltd., RanQ, and Chemfield Cellulose
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
