Cellulose is the prime component of plant cell. Microcrystalline cellulose is partially depolymerized cellulose, obtained from wood pulp. It is also formed through some of the fungi, bacteria, algae or marine animals. It is insoluble in water and is primarily used as bulking and anticaking agent in production of food products. It is also used as a texturizer, emulsifier and as an extender in application such as pharmaceutical or personal care products. Wide usage of microcrystalline cellulose in manufacturing food products coupled with growing of the pharmaceutical excipient industry is driving the demand of microcrystalline cellulose market across the globe.
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Microcrystalline Cellulose Market Segmentation
Global microcrystalline cellulose market is segmented on the basis of application which includes pharmaceutical, food & beverage, cosmetics & personal care and others (paints and coating). Microcrystalline cellulose is widely used in various food products, which includes dairy products, desserts, baked goods and frozen food. Microcrystalline cellulose act as a bulking agent and fat substitute, and also helps in enhancing and maintaining consistency of the food product, which is expected to support the growth of food product in microcrystalline cellulose market. Pharmaceutical is expected to show a substantial growth over the forecast period. This growth is attributed to the wide usage of microcrystalline cellulose in pharmaceutical products. It can be used in every kind of oral dosage such as capsules, pellets, tablets, sachets, and others. In addition, microcrystalline cellulose is highly used as texturizer and thickening agent in cosmetics and personal care products, which is expected to support the demand of microcrystalline cellulose in cosmetics and personal care products in the near future.
Global microcrystalline cellulose market is also segmented on the basis of raw material source. This includes wood and non-wood. Among both of these segment non-wood based microcrystalline cellulose is expected to show healthy growth over the forecast period.
Geographically North America is well established market in microcrystalline cellulose market. The region is expected to contribute highest in terms of revenue. In North America, U.S. is expected to account for major market share followed by Canada. Europe is expected to show a substantial growth over the forecast period. Growing pharmaceutical industry in the European countries is expected to be the driving factor for microcrystalline cellulose market in the near future. Developing region such as Asia Pacific is predicted to show a healthy growth during the forecast period. Cheap and easy availability of raw material, regulatory support, and increasing huge demand for pharmaceutical products in the region is expected to be the driving factor for microcrystalline cellulose during the forecast period.
Globally, microcrystalline cellulose market is highly fragmented due to the presence of large number of global and regional manufacturers. The production of microcrystalline cellulose is largely concentrated in Asia-Pacific and Europe. Moreover it has been found that China the major manufacturer of microcrystalline cellulose in the world followed by and U.S., due to which these countries are expected to be the major contributor in terms of revenue in microcrystalline cellulose market. However, the production of microcrystalline cellulose is shifting to Asia-Pacific, especially to China, due to the low cost of raw materials and cheap labor cost in the country.
Microcrystalline Cellulose Market Drivers
Increased acceptance of microcrystalline cellulose as an excipient in food industry coupled with the growth of the global pharmaceutical industry is expected to drive the demand of global microcrystalline cellulose market during the forecast period. Moreover, increasing demand for low fat food and processed food is also expected to fuel the growth of microcrystalline cellulose market over the forecast period.
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Microcrystalline Cellulose Market Key Players
Some of the major players operating in microcrystalline cellulose market includes FMC Corporation, Juku Orchem Private Limited, DuPont, Blanver Farmoquimica Ltda., JRS Pharma, Libraw Pharma, Avantor Performance Materials, Accent Microcell Pvt. Ltd, DFE Pharma GmbH & Co. Asahi Kasei Corporation, Mingtai Chemical Co. Ltd., and Sigachi Industries Pvt. Ltd., among others.