NEW YORK, Sept. 13, 2021 /PRNewswire/ — Reports and Data has published its latest report titled “Microcrystalline Cellulose (MCC) Market Size, Share and Industry Analysis, By Source Type (Non-Wood Based, Wood-Based), By End-Use (Binder/Diluent, Bulking Agent, Emulsifiers, Stabilizer, Anti-Caking Agent, Others), By Application (Pharmaceutical, Food & Beverage, Cosmetics & Personal Care, Paints & Coatings, Others) And by Region, Forecast to 2028.”
According to latest analysis by Reports and Data, the global monocrystalline market size was USD 985.2 million in 2020 and is expected to reach US 1,561.4 million in 2028 and register a revenue CAGR of 5.80% over the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Microcrystalline Cellulose (MCC) is a naturally occurring polymer and is a commonly used excipient in the pharmaceutical industry. Microcrystalline cellulose has excellent compressibility properties and is widely used in solid forms such as tablets that are hard, but can dissolve quickly, and this has increased its demand in the pharmaceutical sector. MCC is also used in processed food products as texturizer, anti-caking agent, emulsifier, fat substitute, and bulking agent. Increasing awareness regarding benefits of microcrystalline cellulose has further boosted its demand. In cosmetics, microcrystalline cellulose acts as a filler, thickening and emulsifying agent, and is used in a number of hair and skin care products.
Microcrystalline cellulose refers to refined wood pulp and is extensively used in plaque assays to determine viral count and as a viable option in place of carboxymethylcellulose. Over the recent past, extensive R&D has been conducted expand application scope of MCC. Microcrystalline cellulose is a viable alternative to higher calorie ingredients and is one of the most widely used food additives. Addition of MCC to food products can alter or influence texture without interfering with flavor and this has led to increasing adoption in the food and beverages industry. In addition, microcrystalline cellulose adds dietary bulk and body to food without adding calories and this increases the physical satisfaction of consumer without calorie count-related concerns.
High costs associated with microcrystalline cellulose is expected to restrain growth of the market to a certain extent over the forecast period. However, development of newer microcrystalline cellulose-based products with enhanced physical properties to address growing requirements of the food and beverages industry is expected to open up new opportunities for players in the market.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Wood-based segment to lead revenue growth:
Wood-based segment is expected to register robust revenue CAGR over the forecast period attributed to its increasing application as fat substitute, texturizer, and bulking agent. Wood-based microcrystalline cellulose is widely used in the production of pharmaceutical drug formulations such as tablets and vitamin supplements.
Binder/diluent segment to account for largest revenue share:
Binder/diluent segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing demand for MCC as a binding agent in the biopharmaceutical industry.
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Food & beverage segment supporting market growth:
Food & beverage segment is expected to register significantly robust revenue growth over the forecast period, attributed to increasing application of MCC as a bulking agent in processed foods such as ice cream and whipped cream, increasing demand for processed and fast foods, and increasing use as a dietary fiber. Microcrystalline cellulose offers benefits such as enhances gastrointestinal track and lipid metabolism and improves stability of food products and this has further boosted its use in the food and beverages industry.
Europe to account for largest revenue share:
Europe is expected to account for a significantly large revenue share over the forecast period owing to increasing demand for and consumption of processed foods, frozen food and beverages, and preserved foods among consumers in the region. Rapid progress in the pharmaceutical sector, increasing number of product launches, and presence of major market players are some other factors contributing to revenue growth of the market.
Asia Pacific to register fastest revenue growth:
Asia Pacific is expected to register a robust revenue CAGR over the forecast period, attributed to increasing demand for personal care products due to increasing disposable income among consumers, rising need for healthy, fat-free, and low-calorie food products, and expansion of pharmaceutical and food & beverages industries in countries in the region.
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Major Companies in the report:
- Rayonier Advanced Materials
- Asahi Kasei Chemicals Corporation
- JRS Pharma GmbH & Co. Kg
- DFE Pharma GmbH & Co. Kg
- Sigachi Industrial Pvt. Ltd.
- Avantor Performance Materials Inc.
- Gujarat Microwax Limited
- Huzhou City Linghu Xinwang Chemical Co., Ltd.
For the purpose of this report, Reports and Data has segmented the global monochloroacetic acid market on the basis of process type, product type, applications, and region:
Source Type Outlook (Revenue, USD Million; 2018 – 2028)
- Non-Wood Based
End-Use Outlook (Revenue, USD Million; 2018 – 2028)
- Bulking Agent
- Anti-Caking Agent
Application Outlook (Revenue, USD Million; 2018 – 2028)
- Food & Beverages
- Cosmetics & Personal Care
- Paints & Coatings
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Region Outlook (Revenue, USD Million; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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