Global microcrystalline cellulose market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Microcrystalline cellulose (MCC) is a term used for refined wood pulp and is used as a bulking agent, a texturizer, an extender, an anti-caking agent, an emulsifier, and a fat substitute in food production. It is exclusively used in vitamin tablets or supplements and in plaque assays as a substitute to carboxymethyl cellulose.
The factors that are playing a major role in the growth of microcrystalline cellulose (MCC) industry are the developing processed food industries across the globe, the rising pharmaceutical companies, and the acceptance of microcrystalline cellulose as a pharmaceutical excipient. However, the presence of alternatives for specific pharma and food & beverage applications may restrain the overall market in the years to come. Microcrystalline cellulose market is segmented based on source type, application, and region.
Non-wood-based and wood-based are the source types that could be explored in microcrystalline cellulose industry in the forecast period. In terms of volume and value, the wood-based type sector accounted for the significant share of microcrystalline cellulose (MCC) market and is estimated to lead the overall market in the years to come.
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The market may be categorized based on applications like cosmetics & personal care, pharmaceutical, food & beverage, and others that could be explored in the forecast period. The pharmaceutical sector accounted for the substantial share of microcrystalline cellulose industry and is estimated to continue its dominance in the years to come. The reason could be the rising use of microcrystalline cellulose in the quick release of tablets and liquid dosage forms, chewable & effervescent tablets, and others.
Globally, Europe accounted for the substantial share of microcrystalline cellulose market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the high investments in drug development, the rise in employment rate, pharmaceutical industries initiative to offer superior-quality products, and economic retrieval.
North America and the Asia Pacific are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of microcrystalline cellulose in this region.
The key players of the microcrystalline cellulose industry are DFE Pharma GmbH & Co.KG, Dow DuPont, Roquette, Asahi Kasei Chemicals Corporation, and Rayonier Advanced Materials. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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