Microcrystalline Cellulose Market Growth Analysis | 2023-2028

Market Insights

The microcrystalline cellulose market was estimated at USD 901.57 million in 2022 and is likely to grow at a CAGR of 7.02% during 2023-2028 to reach USD 1355.44 million in 2028.

Want to know more about the market scope? Register Here

What is microcrystalline cellulose?

Microcrystalline cellulose mainly refers to wood pulp that is refined in nature and is used in different applications such as an anti-caking agent, extender, and many others.

Microcrystalline cellulose is also available as a non-wooden base along with the wooden base. Food & beverage, pharmaceutical, cosmetics, and others are the industries where it is used.

Key Players

Some of the key players in the global market are-

• Asahi Kasei Chemicals Corporation
• Avantor Performance Materials Inc.
• Accent Microcell Pvt. Ltd.
• Anhui Sunhere Pharmaceutical Excipients Co., Ltd.
• DFE Pharma GmbH & Co.Kg
• The Dow Chemical Company
• Foodchem International Corporation
• Gujarat Microwax Limited
• Huzhou City Linghu Xinwang Chemical Co., Ltd.
• JRS Pharma GmbH & Co. Kg. 

Market Dynamics

The prime factors that are contributing to the growth of the global market are-

• Growing pharmaceutical industry: Microcrystalline cellulose is widely used in the pharmaceutical industry as a binder, disintegrant, and filler in tablets, capsules, and other solid dosage forms. The increasing demand for pharmaceutical products, driven by factors such as population growth and rising healthcare expenditures, is fueling the demand for MCC.
• Rising consumer demand for healthy and functional foods: Microcrystalline cellulose is used as a bulking agent, stabilizer, and fat substitute in various food products. With the increasing consumer focus on health and wellness, there is a growing demand for foods with added dietary fiber and reduced fat content, which is driving the demand for MCC in the food industry.
• Advancements in the cosmetics and personal care industry: Microcrystalline cellulose is used in cosmetic and personal care products as a texture enhancer, absorbent, and emulsion stabilizer. The expanding cosmetics and personal care industry, coupled with the growing consumer preference for natural and eco-friendly ingredients, is boosting the demand for MCC in this sector.
• Technological advancements in MCC production: The development of advanced manufacturing techniques and processes for microcrystalline cellulose has improved its quality, functionality, and cost-effectiveness. These advancements have increased production efficiency and expanded the application scope of MCC, driving its market growth.
• Regulatory support for sustainable and eco-friendly materials: Microcrystalline cellulose is derived from renewable sources, primarily cellulose obtained from wood pulp or agricultural residues. As governments and regulatory bodies worldwide emphasize sustainability and eco-friendly practices, MCC's use as a natural, biodegradable, and renewable material is gaining prominence, driving its market growth.

Want to have a closer look at this market report? Click Here

Segment Analysis

By Source Type

The microcrystalline cellulose market is segmented into wood-based and non-wood-based. The wood-based segment dominated the market in 2022, in terms of both value and volume and is expected to maintain its dominance during the forecast period. The chemical properties of MCC yielded from various wooden sources differ owing to the variance in the composition of alpha-cellulose in different kinds of wood obtainable. Commercially available microcrystalline cellulose is largely formed from wood-based sources.

By Application Type

The market is segmented into food & beverage, pharmaceutical, cosmetics & personal care, and others. The Pharmaceutical Application segment dominated the market in 2022, and it is likely to lead the market in the coming five years as well.

Regional Insights

Europe accounted for the largest market for microcrystalline cellulose in 2022. The market is majorly driven by the rising investments in drug development and the incessant efforts of pharmaceutical companies to deliver premium-quality products.

Further, the economic repossession and the rise in the employment rate are the prime factors for the growth of the processed-food industry in the region, which in turn, corroborates the development of the market in the food & beverage application. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Know the high-growth countries in this report. Register Here.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The microcrystalline cellulose market is segmented into the following categories.

By Source Type

• Wood-Based
• Non-Wood Based

By Application Type

• Food & Beverage
• Pharmaceutical
• Cosmetics & Personal Care
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Click Here, to learn the market segmentation details.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.