Surge in usage of MCC as an additive in the manufacturing of processed foods drives the growth of the global microcrystalline cellulose market.
OREGON, PORTLAND, UNITED STATES, August 23, 2021 /EINPresswire.com/ — The global microcrystalline cellulose market generated $937.0 million in 2017, and is estimated to reach $1.45 billion by 2025, witnessing a CAGR of 5.5% from 2018 to 2025. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in usage as an additive in the manufacturing of processed foods drives the growth of the global microcrystalline cellulose (MCC) market. However, availability of substitute products in the market and volatile prices of MCC hinder the growth of the market. Furthermore, growing adoption of non-wood based MCC is expected to create new opportunities for the market players.
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• The demand for microcrystalline cellulose is likely to increase during the Covid-19 pandemic as it is broadly used as additive in manufacturing of daily essential products such as processed food and medicines.
• The revenue generated from the cosmetics & personal care segment is likely to decrease during the Covid-19 pandemic outbreak due to supply shortage of raw materials such as MCC amid lockdown.
The report offers a detailed segmentation of the global microcrystalline cellulose market based on source type, application, and region.
Based on source type, the wood-based segment contributed to the largest share in 2017, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, non-wood-based segment is estimated to portray the highest CAGR of 6.7% during the forecast period.
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Based on application, the cosmetics & personal care segment accounted for the largest share in 2017, holding more than two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, food & beverage segment is expected to register the highest CAGR of 6.1% from 2018 to 2025.
Based on region, Europe contributed the highest share, accounting for more than one-third of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 6.2% from 2018 to 2025.
Leading market players analyzed in the research include Rayonier Advanced Material, DowDuPont, Asahi Kasei Chemicals Corporation, FMC Corporation, DFE Pharma GmbH & Co.KG, Roquette, JRS PHARMA GmbH & Co. KG, Accent Microcell Pvt. Ltd., Ming Tai Chemical Co. Ltd., and Sigachi Industries Pvt. Ltd.
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Source: EIN Presswire