The players in the global microcrystalline cellulose market are gaining valuable incremental opportunities over the period of COVID-19 pandemic. This trend is further propelled by rising research and development activities in fields such as pharmaceutical, as well as healthcare. Furthermore, manufacturers are also focusing on enhancing their capacities of manufacturing coatings and water-based paints to diversify revenue streams. In addition to this, rising demand within the global microcrystalline cellulose market can also be ascribed to rising applications of microcrystalline cellulose in various personal care products, including gentle foaming enzyme powders, as well as cleansing powders. According to a recent professional intelligence survey, the global microcrystalline cellulose market is projected to rise at a CAGR of 5.2% over the forecast period of 2021 to 2031.
Growing demand for products in the global microcrystalline cellulose market from the food and beverages sector, as an additive for various products, including dairy and ice creams, meat and fish, and bakery and confectionery, is thrusting growth in the market. Furthermore, the advent of non-wood sourced microcrystalline cellulose products is also creating significant revenue grab opportunities in the market.
Microcrystalline Cellulose Market – Key Findings of the Report
- Increasing Demand from Pharmaceutical Sector: The solutions offered by players and stakeholders working in the global microcrystalline cellulose market are used as active pharmaceutical ingredients or APIs and excipients in the pharmaceutical sector. This trend can be ascribed to properties of the microcrystalline cellulose of high potential for dilution, as well as its ability to effectively bind other materials in the drug formulation. The products in the global microcrystalline cellulose market also help in offering precision in terms of dosage, boosts the drugs’ stability, and enhances its solubility. These properties attract attention of pharmaceutical stakeholders.
- Growing Trend of Using Non-Wood Microcrystalline Cellulose: Over the past few years, an emerging trend of using non-wood sourced microcrystalline cellulose products has revolutionized the global microcrystalline cellulose market. These non-wood sourced products are considered to be environmentally friendly and are more easily available. Some of these key non-wood sources include cotton linters, cotton fabric waste, coconut shells, jute, alfa fiber, rice husk, orange mesocarp, roselle fiber, Indian bamboo, ramie, biomass residue of oil palm, sorghum stalks, and soybean husks.
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Source: PR Newswire