Global Microcrystalline Cellulose Market is likely to be valued at USD 1,240.7 Million by the end of 2027, registering a 6.78% CAGR during the forecast period.
Microcrystalline cellulose is a widely used binder and filler (diluents) in drug formulations due to its strong binding performance. It is used as a binder/filler in capsule and oral tablet formulations, including wet granulation and direct compression processes. Moreover, MCC is the most commonly used excipient for direct compression. Furthermore, due to its low residual die wall pressure and low coefficient of friction, MCC is used as a disintegrant and lubricant.
Another major driver of the microcrystalline cellulose market is the sustainable growth of demand in the processed food industry.
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MRFR recognizes the following companies as the Key Players in the Global Microcrystalline Cellulose Market — DuPont, Asahi Kasei Corporation, JRS Pharma, and Roquette Frères, Mingtai Chemical Co., Ltd., Accent Microcell Pvt. Ltd., JRS Pharma, Pharmatrans-Sanaq AG, DFE Pharma, Weiming Pharmaceutical MFG. Co., Ltd and Sigachi Industries Pvt. Ltd.
Global Microcrystalline Cellulose Market has been segmented based on Source, End-Use Industry, and Region.
Based on the source, the global microcrystalline cellulose market has been segmented into wood-based and non-wood-based. Among these, the wood-based segment accounted for a larger market share of 76.7% in 2019. The segment is also expected to exhibit a higher CAGR of 7.01% during the forecast period. The higher share and high growth of the market is attributed to the wide availability of raw material and established production technology
Based on the end-use industry, the microcrystalline cellulose market is segmented into pharmaceuticals, food beverages, cosmetics personal care, and others. The pharmaceutical segment was valued at USD 320.8 million in 2019 and is projected to be valued at USD 521.1 million by the end of 2027 growing at a CAGR of 7.36% during the forecast period. The food beverages segment is expected to account for the second-largest share of the global microcrystalline cellulose with a value of USD 248.8 million in 2019.
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Key Findings of the Study
- Global Microcrystalline Cellulose Market is anticipated to reach a value of USD 1,204.7 Million by 2027, with a CAGR of around 6.78% during the forecast period.
- Asia-Pacific emerged as the leading and fastest-growing region for this market. The regional market growth can be attributed to the growing urbanization and increasing industrialization in the developing economies of Asia-Pacific, particularly in China, Japan, and Southeast Asian countries.