Microcrystalline Cellulose Market to 2024- Global Analysis and Forecast by Technology, Material used and Applications

According to Global Market Insights, Inc., Microcrystalline Cellulose Market size is anticipated to be valued at over USD 1.2 billion by 2024. Microcrystalline Cellulose (MCC) market outlook is driven by predominant product usage across some of the major industries such as pharmaceutical, food & beverage, personal care, paints and coatings, etc. Improving standard of living owing to persistent socio-economic development across the globe will profoundly influence the microcrystalline cellulose (MCC) market growth.

The personal care industry accounts for a significant percentage of overall fast-moving consumer goods (FMCG) market. Owing to extensive demand for personal care products, India personal care industry alone accounts for 22% of the FMCG market presently. In the light of the same, the increasing deployment of MCC in various personal care products will thus augment MCC market trends in the forthcoming years.

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Widespread deployment owing to the product’s multi-faceted characteristics has enabled it to be used as an abrasive, absorbent, adhesive, binder, emulsion stabilizer, anti-caking ingredient, slip modifier, film former, viscosity improving agent, opacifying agent and many more, which will drive the MCC industry outlook.

Though high extraction cost could be a restraining factor for the global microcrystalline cellulose market, technological advancements in the extraction methods may overcome these challenges during the forecast period. As per estimates, MCC market from wood is presumed to witness CAGR of about 5.5% through 2024. Wood extracted MCC product finds extensive applicability as a fat alternate, an extender, bulking agent, texturizer, etc., in some of the prominent industries such as cosmetics, food, pharmaceutical, paper, polymer composites, etc.

Microcrystalline Cellulose (MCC) market share from non-wood sources is predicted to grow at 6% CAGR through 2024. Non-wood sources include all wood alternatives such as reed stalks, wheat and rice straws, jute, soya bean husk, groundnut husk, sugarcane bagasse, coconut shells, and various other sources. Products extracted from these non-wood sources displays excellent physical and spectroscopic properties when compared with the products obtained from wood-based sources.

Moreover, the increasing awareness to stop deforestation coupled with rising challenges of global warming will promote MCC production from non-wood sources, thus substantially influencing the microcrystalline cellulose (MCC) market size by 2024.

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The product is an excellent constituent of several skin, hair, nail and other cosmetic products, pertaining to its valuable dermal attributes. Being an opacifying agent, the product reduces the transparent appearance of cosmetic products mostly used in different makeup kits for effectively hiding blemishes. Furthermore, anti-caking properties of the product prevent lumping of the powdered or granular substance, fostering its application in the cosmetic application share.

The food & beverage sector in the MCC market is likely to attain a CAGR of 5.5% through 2024. The growth is credited to extensive product adoption as a stabilizing agent for preparing different types of hot and cold food items. Additionally, it also finds application as an anti-caking agent in bakery products to improve water retention and reduce food calories. Rising health awareness coupled with growing shift toward chemical free foods will drive product demand across food industry, subsequently impacting on MCC market size by 2024.

The U.S microcrystalline cellulose (MCC) market is bound to witness substantial gains from the pharmaceutical applications through 2024. Excellent compressibility nature of the product allows its incorporation into various pharmaceutical drugs to produce almost every forms of oral dosage including tablets, capsules, pellets and sachets.

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Increasing investments toward pharmaceutical R&Ds will encourage product penetration further driving Microcrystalline Cellulose (MCC) market demand. As per the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the total R&D investment in the U.S pharmaceutical industry accounted for over USD 60 billion in 2016.

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