Microcrystalline Cellulose Market 2019: With Top Key Player and Countries Data: Trends and Forecast 2023, Industry Analysis by Regions, Type and Applications
Microcrystalline Cellulose Market Synopsis:
Microcrystalline cellulose is gaining popularity across industries and is expected to witness increased consumption over the next couple of years. Market Research Future (MRFR) has studied the global microcrystalline cellulose market and found out that it is anticipated to expand at a moderate CAGR over the assessment period. The market growth is expected to be driven by rising adoption of the cellulose in the pharmaceutical industry. Increasing prevalence of diseases is fueling demand for research & development of new drugs. The accelerating use of microcrystalline cellulose in the development of drugs is expected to aid the proliferation of the market.
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The growth of the food & beverage industry is projected to have a favorable impact on the expansion of the microcrystalline cellulose market. It is in high demand across the industry as a bulking agent and fat substitute. The shift in consumer behavior towards low-fat packaged food products owing to rising health consciousness is anticipated to catalyze the growth of the microcrystalline cellulose market over the next few years. It is also used in frozen food, which is witnessing high demand over the world. It is further expected to catapult the market on an upward trajectory. In addition, the growing demand from the personal care industry is poised to unleash developmental opportunities to be capitalized on in the foreseeable future.
Market Segmentation:
By raw material, the global microcrystalline cellulose market has been bifurcated into wood and non-wood. The non-wood segment holds tremendous growth potential and is expected to exhibit a significant rise in the growth curve over the next few years.
On the basis of end-user, the microcrystalline cellulose market has been segmented into pharmaceuticals, food & beverage, cosmetics & personal care, and others.
Regional Analysis:
The global microcrystalline cellulose market, by region, has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa (MEA). North America is expected to dictate the growth pattern of the global market backed by advancements in the pharmaceuticals and food industries. The U.S. is anticipated to become the most prominent country-level microcrystalline cellulose market of the region followed by Canada. The U.S. Pharmacopeial Convention has recognized the compound as an excipient. It is projected to act as a growth catalyst for the regional market. On the other hand, Europe’s microcrystalline cellulose market is expected to be driven by the expansion of the cosmetic and personal care industries. The prime sub-markets in the region are Germany, U.K, France, and Italy.
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Competitive Dashboard:
The noted players operating in the global microcrystalline cellulose market are FMC Corporation (the U.S), Dupont (the U.S.), Mingtai Chemical Co. Ltd. (Canada), Huzhou City Linghu Xinwang Chemical Co., Ltd (China), Blanver (Brazil), Avantor (the U.S.), JRS PHARMA (the U.S.), Mitsubishi Chemical Corporation (Japan), FrieslandCampina (the Netherlands), Asahi Kasei Corporation (Japan), Accent Microcell Pvt. Ltd (India), Sigachi Industries Pvt. Ltd. (India), DFE Pharma (Germany), Libraw Pharma (India), and Shandong Xinda Biotechnology Co., Ltd (China).
Industry News:
In October 2018, the U.S. Food and Drug Administration (FDA) has granted approval for Xofluza, with the generic name of baloxavir marboxil, for patients over 12 years affected by flu. The ingredients include microcrystalline cellulose along with other compounds.
In September 2018, a biopharmaceutical company pioneering in cannabinoid therapeutics, C3® International, has announced the launch of Idrasil. It is the first prescription medical cannabis in a pill for pain management and contains microcrystalline cellulose as an additional ingredient.
In September 2018, Optinose, a specialty pharmaceutical company focused on ENT / Allergy, has introduced XHANCE™ nasal spray for nasal polyps. Microcrystalline cellulose forms to be key constituent of the spray.
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