Portland, OR, Feb. 16, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global microcrystalline cellulose market garnered $401.1 million in 2021 and is estimated to generate $712.9 million by 2031, manifesting a CAGR of 5.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $401.1 million |
| Market Size in 2031 | $712.9 million |
| CAGR | 5.9% |
| No. of Pages in Report | 710 |
| Segments covered | Drying process, Application, Source Type, and Region |
| Drivers | Well-established pharmaceutical industry |
| Growing consumer demand for personal grooming products | |
| Opportunities | Increase in the population in both developed & developing economies, rise in import & export of various cosmetics & skincare products, and up-gradation in technology in the pharmaceutical industry |
| Restraints | High manufacturing and production costs of microcrystalline cellulose |
| Availability of specific substitutes for microcrystalline cellulose such as carboxymethyl mcc, kappa-carrageenan, and others |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a moderate impact on the growth of the global microcrystalline cellulose market. Rise in Covid-19 cases compelled consumers to buy MCC-based capsules, medications, tablets, and personal hygiene products
- This trend has continued post pandemic as well.
- The research provides detailed segmentation of the global microcrystalline cellulose market based on drying process, application, source type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on the drying process, the spray drying process segment held the highest share in 2021, accounting for more than three-fourths of the global microcrystalline cellulose market revenue, and is expected to continue its leadership status during the forecast period. The same segment is expected to register the highest CAGR of 6.0% from 2022 to 2031. The report also discusses the bulk drying segment.
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Based on application, the pharmaceutical segment accounted for the highest share in 2021, for more than one-third of the global microcrystalline cellulose market revenue, and is expected to continue its lead during the forecast period. The food and beverage segment, however, would manifest the fastest CAGR of 6.5% during the forecast period. The cosmetics and personal care, and other segments were also assessed in the study.
Based on source type, the wood-based segment accounted for the highest share in 2021, holding more than four-fifths of the global microcrystalline cellulose market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The non-wood-based segment, however, is estimated to grow at the highest CAGR of 6.3% in 2031.
Based on region, Europe held the largest share in 2021, contributing to around one-third of the global microcrystalline cellulose market revenue, and is projected to maintain its dominant share in terms of revenue during the forecast period. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.5% during the forecast period. The other regions analyzed in the study include North America and LAMEA.
Leading players in the global microcrystalline cellulose market analyzed in the research include FMC Corporation, Anhui Shanhe Pharmaceutical Excipients Co., Ltd., DowDupont Inc., Accent Microcell Pvt. Ltd, Ming Tai Chemical Co. Ltd, Chemfield Cellulose, Foodchem International Corporation, Cellutech Pharma, Asahi Kasei Chemicals Corporation, Sigachi Industries Pvt. Ltd, Maple Biotech Pvt. Ltd., JRS PHARMA GmbH and Co. KG, DFE Pharma, Ankit Pulps, Quadra Chemicals., Roquette, NB Entrepreneurs, ASHOK CHEM –PHARMA, Amishi Drugs And Chemicals Pvt Ltd, Huzhou City LinghuXinwang Chemical Co., Ltd.
The report provides a detailed analysis of these key players in the global microcrystalline cellulose market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, product portfolio, operating segments, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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