The Microcrystalline Cellulose Market is in trend by rising demand from the food industry.
Microcrystalline cellulose is a partially depolymerized cellulose produced from wood pulp or cotton linters. It is widely used as an inert substance and diluent in pharmaceutical products. Microcrystalline cellulose reduces intra- and intermolecular hydrogen bonding in tablets and thereby improves the dissolution properties of poorly water-soluble drugs. Additionally, it also offers excellent binding properties, lubrication, and low porosity.
The Global Microcrystalline Cellulose Market is estimated to be valued at US$ 13a49.84 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
Key players operating in the Microcrystalline Cellulose are Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc., Abbott, PacBio, Zymo Research Corporation, Oxford Nanopore Technologies plc, Tecan Trading AG, Hamilton Company, ZS Genetics, Inc. LI-COR, Inc. The growing demand from the food and pharmaceutical industries are the major factors driving the growth of the microcrystalline cellulose market. With increasing health awareness, the demand for low-calorie and sugar-free food products is rising significantly. Microcrystalline cellulose is widely used as a bulking agent, fat substitute, textures maker, stabilizer, and anti-caking agent in various processed food products. Several companies are also expanding their production facilities globally to cater to the increasing demand.
The Microcrystalline Cellulose Market Size is witnessing significant growth owing to the increasing demand from the food industry. The rising consumption of low-calorie and sugar-free food products is a major factor augmenting market growth. Microcrystalline cellulose is widely used as a bulking agent, fat substitute, and texturizing agent in processed food. Regulatory agencies worldwide have approved the usage of MCC in food products due to its non-nutritive properties.
Several pharmaceutical companies are also expanding their production facilities globally to meet the increasing demand from pharmaceutical manufacturers and nutraceutical industries. For instance, in 2022, Asahi Kasei Bioprocess expanded its microcrystalline cellulose (MCC) production facility in Mobara, Japan, to cater to the demand from pharmaceutical and food industries. Key players are also focusing on strategic partnerships with industries to develop customized solutions.
Market key trends
One key trend gaining traction in the microcrystalline cellulose market is the increasing adoption of plant-based filler materials. Conventional binders and excipients used in pharmaceuticals and nutraceuticals such as lactose and sucrose are associated with certain disadvantages such as toxicity, low solubility, and instability under varying humidity. Microcrystalline cellulose is emerging as a superior substitute that helps overcome such issues and provides excellent binding and compacting properties. Moreover, being plant-based, MCC does not involve animal testing or extractive sources, making it appealing to vegan and environmentally-conscious consumers. This plant-based filler trend is expected to drive innovations and open lucrative growth opportunities for microcrystalline cellulose producers in the coming years.
Porter’s Analysis
Threat of new entrants: New companies will face high costs for manufacturing facilities and purchase of raw materials.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like cellulose ethers and pozzolanas.
Bargaining power of suppliers: Few companies source materials and have expertise in manufacturing process, increasing supplier power.
Threat of new substitutes: Substitutes like cellulose ethers and pozzolanas pose threat by targeting same applications.
Competitive rivalry: Companies compete on manufacturing cost and product quality.
Geographical regions of concentration:
North America holds largest market share due to established food and pharmaceutical industries. The region witnesses high demand from major end users such as food, pharmaceutical and personal care industries.
Fastest growing region:
Asia Pacific exhibits fastest growth on back of increasing health consciousness, growing food processing industry and strong economic development in countries such as China and India. Expanding pharmaceutical industry also supports regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
