JERSEY CITY, N.J., July 22, 2021
The rise in demand for processed food and beverages in developing regions such as Asia-Pacific drives market expansion. Furthermore, a constant increase in the consumption of pharmaceutical items such as tablets and capsules supplements market expansion
JERSEY CITY, N.J., July 22, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Microcrystalline Cellulose Market" By Source Type (Wood-based and Non-wood-based), By Application (Pharmaceutical, Food & Beverage, Cosmetics & Personal Care), and By Geography. According to Verified Market Research, the Global Microcrystalline Cellulose Market was valued at USD 1.02 Billion in 2020 and is projected to reach USD 1.90 Billion by 2028, growing at a CAGR of 8.2% from 2021 to 2028.
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Browse in-depth TOC on "Microcrystalline Cellulose Market"
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Global Microcrystalline Cellulose Market Overview
The MCC market is being driven by the growing pharmaceutical industry. MCC is used as a stabilizer, binder, film-forming agent, suspension agent, and disintegrant in tablet formulations, ointments, and other topical treatment bases in the pharmaceutical industry. MCC is a critical and commonly utilized excipient in the pharmaceutical industry. It serves as a diluent and a binding agent in pharmaceutical formulations. It is often used in pharmaceutical formulations such as pills, capsules, and sachets. The increased manufacture of pharmaceutical items is driving the worldwide MCC market even further.
Emerging markets like China, Brazil, and India are rapidly growing markets that are expected to boost MCC demand even further. Microcrystalline cellulose is utilized in the manufacturing of a variety of food products, and it is favored as a hot and cold stabilizer in ice cream, canned meat, frozen food, and seasoning. The main component of the formula is cellulose, which is commonly regarded as a dietary fiber. It is used in nutritional and functional foods to improve the operation of the fat metabolizing gastrointestinal tract and expression enzymes.
In 2020, the worldwide foodservice market will be worth 3.5 trillion US dollars coupled with the increase in population which is growing at a rate of around 1.05% per year. As a result of these causes, demand for microcrystalline cellulose is increasing.
Key Developments in Microcrystalline Cellulose Market
The major players in the market are DowDuPont (US), Rayonier Advanced Materials (Finland), Roquette (France), Avantor Performance Materials Inc. (US), Gujarat Micro wax Limited (India), Sigachi Industrial Pvt. Ltd. (India), Huzhou City Linghu Xinwang Chemical Co., Ltd. (China), Asahi Kasei Chemicals Corporation (Japan), JRS Pharma GmbH & Co.KG (Germany), and DFE Pharma GmbH & Co.KG (Germany).
Verified Market Research has segmented the Global Microcrystalline Cellulose Market On the basis of Application, Source type, and Geography`.
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