Asia-Pacific is regarded as the manufacturing hub of CMC (carboxymethyl cellulose). Lucrativeness of Asia-Pacific carboxymethyl cellulose market will continue to remain higher compared to other regions during the forecast period. Demand for carboxymethyl cellulose is expected to remain significant in the Asia-Pacific food and beverage industry, underpinned by occupancy of comparatively higher consumption base. Furthermore, rapidly increasing cases of chronic ailments in Asia-Pacific has resulted in growing demand for the pharmaceuticals, thereby creating growth avenues for carboxymethyl cellulose market. According to Fact.MR, approximately two-fifth of carboxymethyl cellulose market value share will be owned by Asia-Pacific by the end of 2028.
Japan and China are regarded as two amongst the most lucrative economies in APAC carboxymethyl cellulose market as larger base of local manufacturers are concentrated in these countries that supply carboxymethyl cellulose at comparatively lower costs. Developed countries such as North America are depending on Asia-Pacific for importing carboxymethyl cellulose, in order to cater to their internal demand. APAC carboxymethyl cellulose market is mainly driven by growing purchasing power, rising middle-class and development of organized retail across regions such as ASEAN and India. China is expected to take the lead by holding approximately 46.6% market value in Asia-Pacific carboxymethyl cellulose market. In addition Asia-Pacific carboxymethyl cellulose market is likely to expand at a moderate 4.6% CAGR over the course of period from 2018 to 2028.
FDA has approved carboxymethyl cellulose as a disintegrant for the pharmaceutical products as the carboxymethyl cellulose benefits in improving the dissolving ability of drugs, thereby augmenting their meant effect. This in turn drives the demand and supply for carboxymethyl cellulose across pharmaceutical industry.
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Rising disposable income and changing lifestyle of consumers across diverse countries in Asia-Pacific such as Malaysia, China and India are anticipated to boost the growth of pharmaceutical and cosmetics industries in the forthcoming years. Key manufacturers in Asia-Pacific cosmetics industry are making heavy investments in R&D as well as are focusing on implementing new product branding. Various other marketing strategies for accelerating personal care sales is also being taken up by the Asia-Pacific cosmetics industry manufacturers. The aforementioned factors are expected to significantly drive the growth of APAC carboxymethyl cellulose market in the forthcoming years.
Fcat.MR is of the point of view that carboxymethyl cellulose market will expand at an approximately 5.1% CAGR over the course of period from 2018 to 2028. Growing inclination of consumers towards low-fat and gluten-free food is likely to significantly drive the revenue growth of carboxymethyl cellulose market during the forecast period on a global basis. Texture enhancement and protein solubility extension are the main aspects contributing towards demand for carboxymethyl cellulose that makes it sought-after amongst the food manufacturers, with ice-creams indicated as the top application area.
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Food and beverage industry is expected to spearhead carboxymethyl cellulose market during the forecast period, with the oil drilling industry trailing the former industry. Factors such as water retaining agent, mud stabilizer, high degree of substitution and viscosity are the main aspects contributing towards demand for carboxymethyl cellulose that has resulted in its augmenting adoption in the oil drilling industry.
Rapidly increasing demand for the processed food and beverages is likely to remain high on the back of new business models and fast-moving lifestyle of the consumers, resulting in constant transformation across food retail industry. Manufacturers in carboxymethyl cellulose market are utilizing carboxymethyl cellulose as the cold stabilizers across frozen food and beverage products, resulting in cutting down of high expenditure on the other costly cold stabilizers.
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