Microcrystalline cellulose is widely used as an excipient in pharmaceutical products as it is chemically inert and improves the compression properties of tablets and the stability of capsules. It is also used as an anti-caking agent in food products, improves texture, and enhances shelf life. Microcrystalline cellulose is commonly used as a thickening and stabilizing agent in food and cosmetics. The global microcrystalline cellulose market is estimated to be valued at US$ 1349.84 Bn in 2023 and is expected to exhibit a CAGR of 11 % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanded applications of microcrystalline cellulose across industries have significantly contributed to the growth of the market. Microcrystalline cellulose possesses excellent binding, suspended, controlled release and emulsification properties which makes it suitable for use across pharmaceutical, food, cosmetics and several other industries. In the pharmaceutical industry, microcrystalline cellulose has emerged as a preferred excipient due to its suitable compressible property into tablets. It has also gained acceptance in the personal care industry where it is used as an anti-caking agent in powders. The growing penetration of microcrystalline cellulose across diverse applications has propelled the market growth over the forecast period.
Segment Analysis
The global microcrystalline cellulose market is dominated by the food & beverage sub-segment. Microcrystalline cellulose is widely used as a stabilizer and thickening agent in various food products such as ice creams, deserts, milk powder, baked goods, and dressings. It enhances texture, shelf-life and stability in many food items. The food & beverage industry accounts for over 35% of the total microcrystalline cellulose consumption due to growing demand for processed and packaged foods across the globe.
Key Takeaways
The Global Microcrystalline Cellulose Market Share is expected to witness high growth between 2024 to 2031.
The Asia Pacific region is projected to grow at the fastest pace during the forecast period. Factors such as developing food processing industry, expanding pharmaceutical sector and rising health consciousness among consumers, especially in emerging countries like China and India, are fueling the demand for microcrystalline cellulose in Asia Pacific.
Key players operating in the microcrystalline cellulose market 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. Thermo Fisher Scientific Corporation is one of the leading players due to its wide range of genomic instruments and reagents utilized for NGS applications.
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https://www.newswirestats.com/microcrystalline-cellulose-market-size-share-growth-outlook-2023/
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