Microcrystalline Cellulose (MCC) Market to experience an impressive growth of 8.2% during 2020-2025
January 27, 2020
Microcrystalline Cellulose (MCC) Market is likely to witness an impressive CAGR of 8.2% during the forecast period. The global MCC market is majorly driven by the growing demand for processed food and rising production of pharmaceutical and cosmetic & personal care products.
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Microcrystalline Cellulose (MCC) Market Segment Insights:
By Source Type:
Based on the source type, the market is segmented as wood-based and non-wood based. The wood-based segment dominated the market in 2018, in terms of both value and volume, and is expected to maintain its dominance during the forecast period. The chemical properties of MCC yielded from various wooden sources differ owing to the variance in the composition of alpha-cellulose in different kinds of wood obtainable. Commercially available MCC is largely formed from wood-based sources.
By Application Type:
Based on the application type, the market is segmented as food & beverage, pharmaceutical, cosmetics & personal care, and others. The pharmaceutical application segment dominated the market in 2018, and it is likely to lead the market in the coming five years as well.
By Region:
In terms of regions, Europe accounted for the largest market for MCC in 2018. The market is majorly driven by the rising investments in drug development and the incessant efforts of the pharmaceutical companies to deliver premium-quality products. Further, the economic repossession and the rise in the employment rate are the prime factors for growth of the processed-food industry in the region, which in turn, corroborates the development of the market in the food & beverage application. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the microcrystalline cellulose market are Asahi Kasei Chemicals Corporation, Avantor Performance Materials Inc., Accent Microcell Pvt. Ltd., Anhui Sunhere Pharmaceutical Excipients Co., Ltd., DFE Pharma GmbH & Co.Kg, The Dow Chemical Company, Foodchem International Corporation, Gujarat Microwax Limited, Huzhou City Linghu Xinwang Chemical Co., Ltd., and JRS Pharma GmbH & Co. Kg.
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- Key success factors
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