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