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CHEMICALS AND ADVANCED MATERIALS

Microcrystalline Cellulose Market Analysis by Raw Material Source (Wood-based, and Non-wood-based); and by Application (Food & Beverage, Pharmaceutical, and Cosmetics & Personal Care) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • DowDuPont – DowDuPont acquired the health & nutrition business segment of FMC Corporation. The acquisition helped the company expand its capabilities in the pharma excipient space. The acquisition also benefitted the company in terms of gaining new ingredients for MCC.
  • DFE Pharma GmbH & Co.KG – DFE Pharma GmbH & Co.KG signed a distribution agreement with DKSH Management Ltd., for the distribution of its products in eight European countries, namely, France, Switzerland, the UK, Ireland, Denmark, Finland, Norway, and Sweden. According to the agreement, DKSH was appointed as the distributor for DFE's Pharma grade MCC, targeting the pharmaceutical industry.

Global Microcrystalline Cellulose Market Highlights Over 2023 – 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

 ~ USD 620 Million

Forecast Year Market Size (2033)

~ USD 918 Million

The global microcrystalline cellulose market is estimated to garner a revenue of nearly USD 918 Million by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of around USD 620 Million in the year 2022. The growth of the market can be attributed primarily to the expansion of the chemical industry worldwide. For instance, the Indian chemical industry accounted for nearly USD 170 billion in the year 2019 and is anticipated to reach around USD 300 billion by 2025. 

Microcrystalline-Cellulose-Market-Analysis

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Microcrystalline cellulose is used in the pharmaceutical industry as a stabilizer, binder, film-forming agent, suspension agent, and disintegrant in tablet formulations, ointments, and other topical therapeutic bases. Microcrystalline cellulose is one of the most important and widely used excipients in the pharmaceutical industry. It is a key diluent and is used as a binding agent in pharmaceutical formulations. It is extensively used in drug preparations such as tablets, capsules, sachets, and so on. The growing production of pharmaceutical products is further driving the global microcrystalline cellulose market. It is observed that, the Indian pharmaceutical industry is the world's third largest by volume and 14th largest in terms of value. Total Annual Turnover of Pharmaceuticals industry was USD 360955237 for the year 2019-2020.

Global Microcrystalline Cellulose Market: Growth Drivers and Challenges

Growth Drivers

  • Expanding Pharmaceutical Industry across the Globe – MCC is one of the most important and widely used excipients in the pharmaceutical industry, which is expanding all over the world. The pharmaceutical sales in oncologics accounted to nearly USD 100 billion in 2021.
  • Increasing Research Expenditure – The growth of the global microcrystalline cellulose market, over the forecast period, can be further ascribed to the rising investments in the R&D activities to continuously bring up more feasible solutions for medical procedures. According to research reports, since 2000, global research and development expenditure has more than tripled in real terms, rising from approximately USD 680 billion to over USD 2.5 trillion in 2019.
  • Increasing Expansion of Chemical Industry across the Globe – Global chemical industry garnered revenue of nearly USD 4 trillion around the world in the year 2021.
  • Increasing Government Support in Chemicals – For instance, within the Union Budget 2022-23, the Indian government allocated approximately USD 27 million to the Department of Chemicals and Petrochemicals.
  • Growing Food & Beverage Industry – Edible grocery sales were valued at nearly USD 2.9 trillion in 2021 and are expected to grow by approximately 600 billion by 2026.

Challenges

  • Availability of substitutes
  • Lack of Expert Professionals
  • High Production Cost

The global microcrystalline cellulose market is segmented and analyzed for demand and supply by application into food & beverage, pharmaceutical, and cosmetics & personal care. Out of these segments, the pharmaceutical segment is expected to hold the highest growth by the end of the year 2033. The growth of the segment can be attributed to the existence of a huge patient pool that requires pharmaceutical treatment. Moreover, rising healthcare expenditure per capita on healthcare is also estimated to add to the growth of this segment in the market. As per The World Bank, current health expenditure of the year 2019, accounted to 9.83% of global GDP.

Major Macro-Economic Indicators Impacting the Market Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Microcrystalline Cellulose Market Regional Synopsis

Regionally, the global microcrystalline cellulose market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033. The factors that contribute to the expansion of the market in this region is the increasing adoption of microcrystalline cellulose for a wide range of applications such as treatment of NCDs, in the pharmaceutical industry. It was observed that, in 2018, 51.8% (129 million) of civilian, noninstitutionalized adults had been diagnosed with at least 1 of 10 selected chronic or NCD conditions.

Microcrystalline-Cellulose-Market-Scope

The global microcrystalline cellulose market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global microcrystalline cellulose market includes the following segments:

By Application

  • Food & Beverage
  • Pharmaceutical
  • Cosmetics & Personal Care

 

By Raw Material Source

  • Wood-Based
  • Non-Wood-Based

Top Featured Companies Dominating the Global Microcrystalline Cellulose Market

  • DowDuPont
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Asahi Kasei Chemicals Corporation
  • Rayonier Advanced Materials
  • Roquette
  • DFE Pharma GmbH & Co.KG
  • JRS Pharma GmbH & Co.KG
  • Avantor Performance Materials Inc.
  • Gujarat Microwax Limited
  • Sigachi Industrial Pvt. Ltd.
  • Huzhou City Linghu Xinwang Chemical Co., Ltd.

 

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