Carboxymethyl Cellulose Is Estimated To Witness High Growth Owing To Increasing Applications In Food & Beverages Sector
Carboxymethyl cellulose or CMC is a cellulose derivative with carboxyl groups (-COOH) bound to some of the hydroxyl groups of the glucopyranose monomers that make up the cellulose backbone. It is highly soluble in hot and cold water and is commonly used as a thickening, stabilizing, or emulsifying agent in foods and cosmetics. It is primarily used to increase viscosity, control syneresis, inhibit crystallization of fats in aqueous dispersions, stabilize emulsions and foams, and increase shelf life of products.
The global carboxymethyl cellulose Market is estimated to be valued at US$ 1201.83 Mn or Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Carboxymethyl cellulose is witnessing high demand from food & beverages industry owing to its increasing applications in several products such as soups, sauces, dressings, baked goods, dairy products, meat products, and beverages. It is used in dairy products as a stabilizing and thickening agent and helps inhibit syneresis in products like yogurt. In baked goods such as cake mixes and powdered desserts, it acts as a stabilizer, moisture retainer and emulsifier. It is also used in various meat products such as sausages and patties as a binder and water retention agent. In beverages, it is used to maintain product stability, mouthfeel and suspend solid particles like fruit or herbs. These factors are driving the growth of the carboxymethyl cellulose market. Additionally, growing health consciousness among consumers is also fueling the demand for CMC as a substitute for fat and sugar in low-calorie foods, thus propelling the market growth over the forecast period.
SWOT Analysis
Strength: Carboxymethyl Cellulose has various applications in the food and beverage industry which is expected to drive its demand in the forecast period. It can be blended into various products such as sauces, salad dressings, syrups and baked goods to improve texture and appearance. Its water retention and binding properties allow it to improve yield and decrease costs for food manufacturers.
Weakness: The price volatility of raw materials used to produce CMC can adversely impact its overall production costs. Additionally, stringent environment regulations regarding its disposal can increase compliance costs for manufacturers.
Opportunity: Growth of end use industries such as paints & coatings, oil & gas along with rising demand for organic and sustainable products are expected to create new opportunities. Additionally, deployment of novel production technologies and expansion in emerging economies will support market growth.
Threats: Presence of alternative hydrocolloids and intensifying competition among existing players are key challenges. Shift towards use of natural ingredients by consumers and sustainable substitutes developed by new entrants can threaten future demand.
Key Takeaways
The global carboxymethyl cellulose Market is estimated to be valued at US$ 1201.83 Mn or Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
The global Carboxymethyl Cellulose market growth is expected to witness high growth. Regional analysis related content comprises fastest growing region of Asia Pacific is expected to dominate the market. China, India, Japan and Southeast Asian countries are major producers and consumers in the region due to rapidly growing industries.
Key players related content comprises Key players operating in the Carboxymethyl Cellulose market are Accenture, Deloitte Consulting LLP, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG, McKinsey & Company, Bain & Company, Boston Consulting Group (BCG), T. Kearney, Oliver Wyman, Alvarez & Marsal, GEP, Protiviti, Ayming, Expense Reduction Analysts. They are focusing on new product development, mergers & acquisitions and capacity expansion strategies to gain competitive edge
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