The global microcrystalline cellulose market is estimated to be valued at US$ 1171.73 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Microcrystalline cellulose is a particulate derived from plant fiber that acts as a key binding and bulking agent in many pharmaceutical and food products. It is chemically inert, insoluble in water and gastrointestinal fluids and tasteless. These properties make microcrystalline cellulose useful as an excipient and functional additive in wide range of products.
Market key trends:
One of the key trends in the microcrystalline cellulose market is its increasing applications in pharmaceutical industry. Microcrystalline cellulose is widely used as an excipient and functional additive in pharmaceutical products like tablets, capsules and other solid oral dosage forms. It acts as a binder, disintegrant, emulsifier and stabilizer in drug formulations. It helps improve compressibility and flowability of powder blends during tablet manufacturing. The steadily growing pharmaceutical industry globally is driving increased demand for microcrystalline cellulose. Its chemically inert and non-reactive nature makes it suitable for sensitive drug molecules to achieve optimal drug delivery. These advantages are expected to further fuel its consumption in pharmaceutical applications.
Segment Analysis
The microcrystalline cellulose market is dominated by food and beverage sub-segment, which accounted for more than 30% share of the overall market in 2023. Microcrystalline cellulose is widely used as an excipient in food and beverages owing to its texture modification, stabilization, and moisture retention properties. It enhances the appearance and taste of various food products such as baked goods, savory snacks, dairy, and meat products.
Key Takeaways
The global Microcrystalline Cellulose Market Analysis is expected to witness high, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand from the food and pharmaceutical industries.
Regional analysis
Asia Pacific dominated the global market with around 40% share in 2023 owing to robust growth of end-use industries in China, India, and other developing nations. Rapid urbanization and changing lifestyle are stimulating the demand for processed and packaged food products in the region.
Key players
Key players operating in the microcrystalline cellulose market are Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, Asahi Kasei Corporation, Dupont, Avantor Inc., Sigachi Industries Pvt. Ltd, Foodchem International Corporation, Quadra Chemicals, Maple Biotech Pvt. Ltd., Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Accent Microcell Pvt. Ltd., RanQ, and Chemfield Cellulose. The global market is highly fragmented with the presence of various domestic and international players who are investing in expanding their production capacities to cater to the growing demand.
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