End-use industries in the microcrystalline cellulose market such as food and beverages, cosmetics, personal care and pharmaceutical industries extensively utilize the physiochemical and other properties of microcrystalline cellulose. These use it as emulsifier, anticaking agent, and texturizer. Most prominently its use as excipients in wide range of drug formulations is spurring revenue generation in the microcrystalline cellulose market. In cosmetics and personal care industry, microcrystalline cellulose is used for wide range of applications, notably as binders and fat substitute.
Food and beverages and pharmaceutical industries accounted for a combined share of more than half of the shares in the microcrystalline cellulose market in 2018.
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The global valuation of the microcrystalline cellulose market was pegged to rise at CAGR of ~ 6% between 2019 and 2027, and surpass the worth of US$ 1.46 Bn by the period-end.
Key Findings of Microcrystalline Cellulose Market
- Pharmaceuticals and food & beverage held more than 50% share in global microcrystalline cellulose market in 2018
- Cosmetics and personal care segment is expected to expand at remarkable pace during 2019 – 2027
- Powder grade microcrystalline cellulose is gaining traction among manufacturers in Southeast Asia
- Rising application in food and beverages industry will propel Asia Pacific market to expand at promising CAGR during the forecast period
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Microcrystalline Cellulose Market: Key Driving Factors and Promising Avenues
- Use of microcrystalline cellulose in plethora of applications in pharmaceutical, food and beverages, cosmetics and personal care industries spur revenues in the market.
- Packaged food manufacturers have been utilizing microcrystalline cellulose as an anticaking agent, texturizer, and binder to keep the products fresh for longer period.
- Sheer pace of urbanization has spurred the demand for packaged food products, especially among populations in the developing world.
- Growing preference of cosmetic formulations that are based on natural ingredients among worldwide population is boosting the microcrystalline cellulose market. The ingredient is used not only to improve the performance of cosmetic products but also reduce the side effects.
- Pharmaceutical industry is offering abundant avenues to players in the market. Microcrystalline cellulose is gaining widespread excipients for manufacturing tablets, capsules, sachets, and pellets.
- Worldwide, food and beverages industry is witnessing the mounting concern of obesity pandemic. This has fuelled the popularity of low-fat food. This, in turn, has spurred the demand for microcrystalline cellulose in boosting the nutritional profile of packaged food.
- Incidence of cardiovascular diseases and other chronic diseases has spurred the demand for healthy food, thereby boosting the demand potential in the microcrystalline cellulose market.
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Microcrystalline Cellulose Market: Regional Landscape
Regionally, North America and Europe have been accounting for a promising revenue share in the microcrystalline cellulose market. A large proportion of the demand has come from the food and beverages industry and in drug making. Further, these regional markets are utilizing microcrystalline cellulose for developing novel cosmetic formulations.
The uptake in the food and beverages industry is more prominent in Asia Pacific countries. The revenue generation in the regional market has gained substantially from the considerable consumption of packaged food products in several countries. These include Thailand, India, Mexico, South Africa, South Korea, and China.
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