Global Microcrystalline Cellulose Market ?Global Industry Growth, Trends, and Forecast (2023-2029)

Report Summary

TheGlobal Microcrystalline Cellulose Market size was valued at USD 7.98 in 2022 and is expected to reach USD 12.08 by 2029, at a CAGR of 6.1%
Microcrystalline Cellulose Market Overview:

Microcrystalline cellulose (MMC) is the fine, odorless white color power extracted using a plant-derived ingredient, which suits industrial needs such as an anti-cracking agent, fat replacer, absorbing agent, emulsifier, texturizer, bulking agent, and most common agent in vitamin supplements. Microcrystalline cellulose is primarily used in the cosmetics, food and beverages, and pharmaceuticals market. The food and beverages industry holds more than a 25% consumption rate of theGlobal microcrystalline cellulose industry. Asahi Kasei has completed the construction of its second plant for microcrystalline cellulose, to underline its commitment to reaching substantially growing demand. The microcrystalline cellulose (MMC) industry is segmented into wood-based and non-wood-based source, increasing awareness about environment-friendly substance are driving the market for non-wood-based Microcrystalline Cellulose and is expected to hold the largest share of the market by the end of the forecast period. The European region market is predicted to grow with the highest CAGR throughout the forecast period.Microcrystalline Cellulose Market Scope and Methodology:

The microcrystalline cellulose market report delivers a comprehensive analysis of the market structure along with estimations of the various segments and their sub-segments with in-depth analysis. The report covers the analysis of restraints, opportunities, challenges, and risks with the help of SWOT analysis and Porter?s Five Forces analysis, which are standard and prominent full-proof methods to provide analysis of the market. Key insights covered in the report include the in-depth market status, market share, growth rate, future trends, market drivers, revenue generation, and entry barriers.

This Microcrystalline cellulose industry report was made by collecting primary and secondary research methods. The market is divided into six major segments ? By Source, Application, Drying process, Type, Extraction method, and region. Segment-wise analysis helps to gain insights into the core target consumers and their habits, for manufacturers. The microcrystalline cellulose market report has a precise and accurate analysis of market trends, future developments, market segments, and competitive analysis which suits the needs of all sizes of businesses in the industry.
Microcrystalline Cellulose Market Dynamics:

Market Growth Drivers:

Microcrystalline cellulose is widely used as an active pharmaceutical ingredient in the pharmaceutical market and is also used as a stabilizer, binder, suspension agent, and film-formation agent. Microcrystalline cellulose is one of the important excipients used in tablet formation when in a dry state. It is extensively used within drug preparation and used in tablets, capsules, and sachets formation, and used as a binding agent in the pharmaceutical formulation process are the key factors predicted to create a positive impact on the Microcrystalline Cellulose Market.

The wide adoption of microcrystalline cellulose in Food and Beverage production creates a positive impact on the market. Microcrystalline cellulose is extensively used in the market as an anti-caking, fat replacer, suspending agent, and stabilizer and also helps to produce low-fat dairy products, frozen yogurt, whipped cream, and ice cream. The food and beverage market is growing with a CAGR of 6.5%Globally and is expected to drive the Microcrystalline Cellulose Market growth.

The reinforcement of polylactic acid and bio-composites in 3D printing provides improved tensile and thermal strength with less waste production. This induces the growth of the non-wood-based MCC manufacturing market growth.

Market Growth Restrains:

The availability of substitutes in the food, beverage, and pharmaceutical application are restraining the Microcrystalline Cellulose Market growth. The availability of substitutes such as carboxymethyl cellulose, croscarmellose sodium, and kappa-carrageenan. However, the current market prices for those substitutes are predicted to reduce their demand to a certain position. Considering the market in the long term the availability of substitutes for MCC has been expected to have less impact on the market. But the production and manufacturing costs for microcrystalline cellulose are predicted to hinder the Microcrystalline Cellulose Market growth within the forecast period.

Market Opportunity:

The microcrystalline cellulose source is segmented into wood-based and non-wood-based methods. The production of wood-based MCC is more costly. The non-wood-based MCC is sourced from agricultural waste that has less impact on the environment than wood base MCC. Hence, the overall production and manufacturing cost for non-wood microcrystalline cellulose is cheaper, which results in a low cost of end-product, helps to reduce overall prices, and is expected to boost the growth and consumption rate of the Microcrystalline Cellulose Market within a forecast period.

Market Challenges:

The manufacturing of microcrystalline cellulose includes several steps before achieving the final product, the cost of raw material, and the procedure impact the cost of the final product. Reduction in the raw material anticipating the high demand for the product. Distinguishing the low-cost technics for the production of MCC is one of the critical challenges for Microcrystalline Cellulose Market manufacturers.
Microcrystalline Cellulose Market Segment Analysis:

Based on the Application: By Application, the segment is divided into food and beverage, pharmaceutical, cosmetics, and personal care. The pharmaceutical and food and beverage segment held the major Microcrystalline Cellulose Market share of 45% percent in 2021 and is predicted to show the same growth within the forecasted period. Also, the low compaction in the substitute products and the large application range within the food and beverage segment help to boost the market growth and offers new opportunities for the future.

Based on the source type: By source, the Microcrystalline Cellulose Market segment is divided into the wood-based, and non-wood-based types. The wood-based type is more costly compared to the non-wood type. The non-wood type is a source from agricultural waste that has less impact on the environment and it is a biodegradable wood base. Hence, the overall production and manufacturing cost for non-wood microcrystalline cellulose is chipper. The incising awareness about environment-friendly and biodegradable products creates new opportunities for the non-wood MCC market and will hold a large number of shares within the forecast period.

Based on the Extraction Method: The extraction method segment includes acid hydrolysis, enzymatic hydrolysis, and microbial hydrolysis. The acid hydrolysis method is widely used for the extraction of microcrystalline cellulose, as it required a shorter duration than other methods, also acid hydrolysis is a continuous process rather than a batch process, the lower amount of chemical used in acid hydrolysis results in the cost-effectiveness of the method, this method gives more fine particles compared to other methods used to extract MCC.

Also, the report includes analysis by region, drying process, and type. The in-depth micro study of all segments is included in the report with qualitative and quantitative data which give inside into the market for new opportunities and trends of the Microcrystalline Cellulose Market etc.
Microcrystalline Cellulose Market Competitive Landscape:

Detailed profiles of the microcrystalline cellulose market key players are included in the report to evaluate their product offerings, recent developments, strategies, and financials.

Sigachi is one of the world?s leading producers of microcrystalline cellulose, with a total revenue of 655.9 Mn. in 2021. The company plans to foray into the production of Croscarmellose Sodium (CCS) CCS is a modified sodium carboxymethyl cellulose used as a disintegrant in pharmaceutical formulations and provides long-term stability. Sigachi Industries is scouting for acquisitions of active pharmaceutical ingredient (API) manufacturing units to expand its reach in the market.

Accent Microcell Private Limited operates as a pharmaceutical company. The Company offers microcrystalline cellulose, magnesium stearate, cross-carmellose sodium, and cellulose powder. Accent microcell Pvt. Ltd. Provides microcrystalline cellulose power based on color, solubility, PH, etc. The total revenue for Accent Microcell Pvt. Ltd. is USD 5.9 Mn for this financial year.

Asahi Kasei currently manufactures Ceolus, a microcrystalline cellulose used primarily in pharmaceuticals as a tablet binder in Nobeoka, Miyazaki, Japan. Rather than the standard-type product, Ceolus has a lineup of KG series that greatly enhances the compatibility of tablets and the UF series that combines compatibility and flowability. Asahi Kasei has completed the construction of its second plant for microcrystalline cellulose, with the new facility company underlining its commitment to reaching substantially growing demand. The total revenue for 2022 is USD 21.906 Mn.

In theGlobal Microcrystalline Cellulose Market report, we provide strategies for individual players with their mergers and acquisition, followed by the company profile. This section provides the user with key player operations and launches, collaborations, and expansion. The microcrystalline Cellulose market is organic and received low investment as they are cost-effective, that?s why Microcrystalline Cellulose is widely preferred in the pharmaceutical industry. This may affect and provide new opportunities in the market.
Microcrystalline Cellulose Market Regional Insights:

The microcrystalline cellulose market is segment