Microcrystalline Cellulose Market size is expected to cross USD 1.9 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of microcrystalline cellulose was over USD 1.02 Billion. The market’s growth is expected to be stimulated in the coming years by the increased use of MCCs for medicinal products. In the manufacture of tablet formulations for the pharmaceutical industry, a 20%90% MCC concentration is used according to recent estimates. Additionally, the growth of the market is expected to be driven by the surging use of MCCs in paints, detergents, coatings, and dyes. According to recent data, in the United States, more than 860 million gallons of paint were consumed in 2021.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~ 6% |
|
Base Year Market Size (2023) |
~ USD 1.02 Billion |
|
Forecast Year Market Size (2036) |
~ USD 1.9 Billion |
|
Regional Scope |
|
Raw Material Source (Wood-Based, Non-Wood-Based)
The non-wood-based segment is estimated to hold 58% share of the global microcrystalline cellulose market in the year 2036. The increase in the use of other sources than wood to produce microcrystalline cellulose, i.e. cotton fibers, palm hulls, oil palm forest residue, corn cobs, cotton fibers, wheat hull, soya bean, and alfa fiber, has primarily contributed to this segment's growth. Furthermore, market segment growth is also being driven by increased demand for food and beverage products throughout the world. As a result, by 2023, India's food and beverages sector are estimated to be worth more than USD 960 billion.
Application (Food & Beverages, Pharmaceutical, Cosmetics & Personal Care)
Microcrystalline cellulose market from the pharmaceutical segment is expected to garner a significant share of around 36% in the year 2036. There has been a growing use of MCC within the pharmaceutical sector for different purposes. Among other things, MCC is used as a binder, film-forming agent, disintegrant, and suspension agent in pharmaceutical excipients. In the years to come, segment growth is projected to be driven by an increase in the number of chemical companies that produce excipients and formulations needed for tablet preparation.
Our in-depth analysis of the global MCC market includes the following segments:
|
Raw Material Source |
|
|
Application |
|
European Market Forecast
The microcrystalline cellulose market in Europe is projected to hold share of about 34% during the forecast period. The growth of the market in the region can be propelled by the growing use of MCCs in food processing as an essential ingredient for cakes, ice cream, gel and canned foodstuff production over the forecast period. For example, according to Eurostat, Germany imported 26% of the total volume of canned beans imported into Europe in 2021. By value, it imported about EUR 114.1 million worth of canned beans into Germany in 2021.
North American Market Statistics
The North America microcrystalline cellulose market is projected to be the largest with a share of about 28% by the end of 2036. Increasing investments by large market players in the field of drug development and research programs can largely be attributed to this growth. Market growth is estimated to be driven by the rising incidence of gastrointestinal problems in people adopting new food habits, as well as an increasing consumption of sugary beverages.
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?