The global Microcrystalline Cellulose Market size was USD 434.6 Million in 2022 and is expected to reach USD 734.25 Million in 2032, and register a rapid revenue CAGR of 6% during the forecast period. Increasing senior population and awareness about health and wellbeing and rising demand for MCC from food and pharmaceutical industries are major factors driving market revenue growth.
Major user for MCC is the pharmaceutical industry and MCC use is rising as a result of rapid expansion of the generic medication market. MCC functions as a binder, disintegrant, and filler in tablet formulations as an excipient. Excellent homogeneity, flowability, and compressibility are provided, all of which are necessary for producing high-quality tablets. In powdered formulations, MCC is also utilized as an anti-caking ingredient to keep the powder from clumping. In addition, rising demand for generic medications and trend of self-medication is another factor driving revenue growth of the market.
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Top Companies: Rayonier Advanced Materials, Dowdupont, Asahi Kasei Chemicals Corporation, JRS Pharma GmbH & Co. Kg, Roquette, DFE Pharma GmbH & Co.Kg, Sigachi Industrial Pvt. Ltd., Avantor Performance Materials Inc., Gujarat Microwax Limited and Huzhou City Linghu Xinwang Chemical Co., Ltd.
Further Key Finding from the Report Suggestion:
- The Microcrystalline Cellulose market held a market share of USD 985.2 Million in 2020 and forecasted to grow at a rate of 5.80% during the forecast period.
- In regards to Source type, the Wood Based segment generated a higher revenue of USD 545.5 Million in 2018, with a growth rate of 5.4% during the forecast period. Factors like its extensive preference among commercial MCC producers due to the advantage of manufacturing MCCs with desired chemical properties by opting for different wood sources, as different woods have varied combinations of alpha-cellulose, contributes to the revenue generated by the Wood-Based segment.
- In context to the End-use, the Binder/Diluent segment generated the highest revenue of USD 363.7 Million in 2018, with a CAGR of 6.2% during the forecast period. The continuous expansion of the pharmaceutical sector and rising demand for the cellulose in the industry wherein it is extensively used in oral capsules and tablets as a binder/diluent contributes to the revenue generated by the Binder/Diluent segment.
- In regards to the Application, the Pharmaceutical segment held the largest market share of 45.0% in 2018, with a growth rate of 6.3% during the forecast period. Factors like the rising geriatric population, associated expansion of the pharmaceutical industry, elevated demand for the cellulose in the industry due to its advantages like minimal reactivity with carrying drugs, contributes to the market share occupied by the Pharmaceutical segment.
- In context to region, Asia Pacific is forecasted to witness the fastest growth rate of 7.0% during the forecast period, which is projected to occupy 29.0% of the market by 2026. The growth rate experienced by the Asia Pacific region is attributed to the growth of the personal care sector, increasing geriatric population, and associated rise in use of cellulose in the pharmaceutical industry.
Microcrystalline Cellulose market is segmented into:
Source Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Non-Wood Based
End-use Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Bulking agent
- Anti-Caking Agent
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Food & Beverage
- Cosmetics & Personal Care
- Paints & coatings
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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