Market Research Report
Microcrystalline Cellulose (MCC) Market by Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care), Raw Material Source (Wood-based, Non-wood - based), and Region (North America, Europe, APAC, RoW) - Global Forecasts to 2024
|Published by||MarketsandMarkets||Product code||922273|
|Published||Content info||119 Pages
Delivery time: 1-2 business days
|Microcrystalline Cellulose (MCC) Market by Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care), Raw Material Source (Wood-based, Non-wood - based), and Region (North America, Europe, APAC, RoW) - Global Forecasts to 2024|
|Published: December 20, 2019||Content info: 119 Pages||
"The MCC market is projected to register a CAGR of 7.0% from 2019 to 2024, in terms of value"
The microcrystalline cellulose (MCC) market is projected to grow from USD 938 million in 2019 to USD 1,315 million by 2024, at a CAGR of 7.0%, between 2019 and 2024. MCC is widely used in pharmaceutical, food & beverage, and cosmetic & personal care applications. As it is chemically inert and not absorbed in the human body, it is widely used in the pharmaceutical and food & beverage applications as a thickener, stabilizer, binder, dispersant, and bulking & anti-caking agent. The growth of the pharmaceutical application has also helped increase the demand for MCC as it is widely used in the form of excipient. Apart from this, the significant demand from the emerging economies is one of the major opportunities in the MCC market.
However, the availability of substitutes for specific food & beverage and pharmaceutical applications restrains the growth of the market.
"The non-wood segment is projected to register the highest CAGR from 2019 to 2024, in terms of both value and volume"
Non-wood-based MCC is being increasingly used in the MCC market, primarily because of the high demand for non-wood-based MCC from various applications, such as pharmaceutical and food & beverage. The cost of MCC produced from non-wood-based source is very low compared to the wood-based MCC as the raw material used for the manufacture of non-wood-based MCC is basically agricultural waste, which is available at very low prices.
"Pharmaceutical to be the fastest-growing application of MCC market during the forecast period"
The MCC market in the pharmaceutical application is witnessing a high growth rate. The growth of the global MCC market is dependent on the growth of the pharmaceutical excipient market. MCC acts as a filler, binder, disintegrant, suspending agent, lubricant, and glidant in pharmaceutical manufacturing. It is used in the direct compression method as it reduces the production cost. MCC is an essential component in every form of oral dosage, which includes pellets, capsules, tablets, and sachets.
"The MCC market in APAC is projected to register the highest CAGR, between 2019 and 2024, in terms of both value and volume"
The MCC market in APAC is projected to register the highest CAGR during the forecast period, in terms of both value and volume. This growth can be attributed to the increasing demand for MCC from the region's growing pharmaceutical, food & beverage, and cosmetics & personal care applications, which are extensively using MCC.
This report covers the MCC market and forecasts the size of the market until 2024. The report includes the segmentation of the market based on application, source type, and region. Porter's Five Forces analysis and key market dynamics, such as drivers, restraints, challenges, and opportunities influencing the growth of the MCC market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
This report is also expected to help stakeholders understand their competitors and gain insights to enhance their position in the MCC market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments, expansions, partnerships, and acquisitions.
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.