Increasing demand for ready-to-eat food and dairy products is significantly affecting demand for packaging products. With its property of being eco-friendly and recyclable, MCF fibers remains the best choice as a raw material for packaging products. Furthermore, increasing modern retail and consumer preference towards convenience food while meeting regulatory policies are poised to spur MCF fiber market growth. The market is anticipated to expand at a CAGR of 14% over the forecast period. MCF fiber is seen as a suitable alternative for plastic products. The packaging and paper industry has experienced substantial market penetration for MFC. The use of MFC in paper applications reduces the use of raw materials, as its bio-degradable nature makes the paper sustainable.
The outbreak of nCoV-19 has impacted demand for global packed food, as a result of nation-wide lockdowns. Significant effects on production and supply chain of ready-to-eat foods have been experienced. However, resumption of production activity will result in exponential increase in demand for paper and dairy products and will open up numerous market opportunities for MFC fiber at global level.
The global MFC fiber market is estimated to register a growth 0.7% in 2021 over 2020, to reach 15.3%. The market outlook remains very positive over the coming years, and is projected to register an impressive 14% CAGR from 2021 to 2031.
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Key Takeaways of Global Micro Fibrillated Cellulose (MFC) Fiber Market
- The global micro fibrillated cellulose (MFC) fiber market is expected to create a value opportunity of around US$ 250 Mn during the forecast period.
- Micro fibrillated cellulose (MFC) fiber as a performance enhancer will continue to dominate demand in Micro Fibrillated Cellulose (MFC) Fiber market, accounting for more than two-third of the global share.
- The global market for micro fibrillated cellulose fiber is anticipated to witness an upsurge in emerging countries such as India, China, Japan and Singapore, owing to mounting demand for dairy and other ready to eat food.
- Europe is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 17 Mn and is expected to show prolific expansion over the forecast period.
- ·Micro fibrillated Cellulose (MFC) Fiber used in paper industry shall continue dominance in the market accounting for more than half of global market share by 2030, with growth rate of 11% over the forecast period.
“Ascending demand for ready-to-eat food and dairy products is poised to drive the demand of Micro fibrillated Cellulose (MFC) Fiber, backed by its bio-degradable properties”, says a Fact.MR analyst.
Capacity Expansions and Collaborations with End-Use Industries to remain Key Strategies for Global Players
Capacity expansions are expected to increase production volume in the midterm forecast. This will create strategic advantages that will help MFC manufacturers maintain their market share and also reduce prices, leading to greater market penetration. For instance, Borregaard, announced the start-up of the world’s first commercial 1,000 tones MFC manufacturing facility in Sarpsborg, Norway. Furthermore, collaborations with end-use industry players is seen as the most efficient strategy for global players. Stora Enso Oyj’s collaboration with End-Use industries like Elopak, has led to the use of MFC in milk cartons of which a 100 Million packages have already sold in the Eastern European Markets.
More Valuable Insights on Microfibrillated Cellulose (MFC) Fiber Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global microfibrillated cellulose (MFC) fiber market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2021-2031. The study delivers essential insights on the microfibrillated cellulose (MFC) fiber market on the basis of application (barrier films and Performance Enhancer (rheology modifier, thickening agent and strengthening agent)) and end-use industry (paper, packaging, food, paints & coatings, personal care and others) across seven major regions.
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