Microcrystalline cellulose is a partially depolymerized form of cellulose produced from wood pulp, cotton linters, etc. via acid hydrolysis. It is widely used in various industries such as food, pharmaceutical, personal care, and others due to its high compressibility, excellent disintegration properties, and high oil and fat absorption capacity. Microcrystalline cellulose helps improve texture, reduce calorie content, and mask unpleasant tastes in foods. In pharmaceuticals, it is widely used as a diluents, binders, fillers, swelling agents, thickeners, etc.
The Global Microcrystalline Cellulose Market is estimated to be valued at US$ 1349.84 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
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. Growing consumer preference for healthier food options along with rising chronic disease burden is driving the demand for microcrystalline cellulose in various application industries. Technological advancements have improved the production process and application scope of microcrystalline cellulose.
Market Trends
Rising Demand for Low-Calorie Food Products- With growing health consciousness among consumers, the demand for low-calorie, low-fat food products is witnessing strong growth. Microcrystalline cellulose helps reduce calories and fat content in various foods. This is expected to drive its demand from the food industry.
Growing Pharmaceutical Industry in Emerging Nations- Emerging nations like India, China, Brazil, etc. are witnessing rapid development of their pharmaceutical industries. This provides significant opportunities for microcrystalline cellulose suppliers as it is widely used as an excipient in tablet and capsule formulations.
Market Opportunities
Increasing Product Innovation- Companies are investing in R&D to develop new grades and particle sizes of microcrystalline cellulose suitable for various novel applications. This is expanding the scope of the product.
Potential in Cosmetic Industry- Microcrystalline cellulose has started finding applications as a natural thickening agent in cosmetic creams, lotions, etc. The rising demand for natural cosmetic ingredients provides opportunities.
Impact of COVID-19 on Microcrystalline Cellulose Market Size
The outbreak of COVID-19 has significantly impacted the microcrystalline cellulose market. Following the onset of pandemic, strict lockdowns were imposed across various countries which led to temporary closures of manufacturing facilities. This disrupted the supply chain and logistical operations, affecting the availability of microcrystalline cellulose. The demand from end-use industries such as food & beverage and pharmaceutical also witnessed a decline due to reduced manufacturing activity during the initial months of 2020. However, with easing of restrictions, the market is recovering steadily supported by measures undertaken by key players to stabilize supply. Furthermore, the pandemic boosted demand for pharmaceutical products, which drove consumption of microcrystalline cellulose as an excipient in drug formulations. Looking forward, efforts to develop COVID vaccines and therapeutics will support market growth over the forecast period. However, future virus mutations and outbreaks may continue posing challenges.
North America is concentrated for Microcrystalline Cellulose Market in terms of value. The region accounts for over 35% share of the global market revenue owing to well-established pharmaceutical industry and large food processing sector. Moreover, presence of leading manufacturers in the US and Canada has made North America a key production base.
Asia Pacific represents the fastest growing region for Microcrystalline Cellulose Market. Expanding healthcare infrastructure along with rising incomes in developing countries such as India and China is driving consumption of pharmaceutical products. Also, burgeoning food processing industry on the back of growing population is boosting the regional market.
Moving ahead, companies should focus on strengthening supply chain and explore new application areas like nutraceuticals to offset challenges posed by pandemic situation. Ensuring stable supply through strategic partnerships will be crucial for sustaining growth momentum in the microcrystalline cellulose market over the forecast period.
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