Market Overview:
The global Microcrystalline Cellulose (MCC) Market is anticipated to experience significant growth during the forecast period, with a predicted revenue CAGR of 6%. In 2022, the market size was USD 434.6 million and is projected to reach USD 734.25 million in 2032. The market is primarily driven by the increasing senior population, health and wellness awareness, and growing demand from the food and pharmaceutical industries.
The pharmaceutical industry is the major user of MCC, and its use is growing due to the rapid expansion of the generic medication market. MCC is used as an excipient in tablet formulations, providing excellent homogeneity, flowability, and compressibility, and functions as a binder, disintegrant, and filler. It is also used as an anti-caking agent in powdered formulations. Furthermore, the rising demand for generic medications and the trend of self-medication is propelling the market growth.
The food industry is another significant consumer of MCC, using it as a bulking agent, texturizer, and stabilizer in various food products such as baked goods, dairy products, and confectionery. The demand for MCC in the food sector is increasing as there is a growing need for functional food products that provide extra nutritional value and health benefits. Additionally, MCC is used as a fat substitute, helping to reduce the fat content of food items without affecting their flavor or texture. Furthermore, the growing interest in health and wellness and the rising demand for low-fat food items are expected to drive market growth.
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Microcrystalline Cellulose (MCC) Market: Segmentation
Factors driving the market revenue growth include the increasing senior population and rising awareness about health and wellbeing. The demand for MCC from the food and pharmaceutical industries is also increasing.
The pharmaceutical industry is the major user of MCC, and the market for MCC is growing due to the rapid expansion of the generic medication market. MCC is used as an excipient, functioning as a binder, disintegrant, and filler in tablet formulations. It provides excellent homogeneity, flowability, and compressibility, which are essential for producing high-quality tablets. In powdered formulations, MCC is utilized as an anti-caking ingredient to prevent the powder from clumping. The rising demand for generic medications and the trend of self-medication are also driving the revenue growth of the market.
Apart from the pharmaceutical industry, the food industry is also a major consumer of MCC. MCC is used in various food products, such as baked goods, dairy products, and confectionery, as a bulking agent, texturizer, and stabilizer. The need for MCC in the food sector is increasing due to the rising demand for functional food items that provide extra nutritional value and health advantages. MCC is also used as a fat substitute, helping to lower the fat content of food items without compromising their flavor or texture. The increasing interest in health and wellbeing, as well as the rising demand for low-fat food items, are expected to further drive market revenue growth.
The report covering the market for MCC provides insights into company rankings, the competitive landscape, growth factors, and trends. The market is segmented by source outlook, which includes wood-based and non-wood based sources, and by application outlook, which includes pharmaceutical, food beverage, cosmetics personal care, and others. The regional scope of the report covers North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.
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Microcrystalline Cellulose (MCC) Market: Strategic Developments
FMC Corporation, a leading agriculture sciences company, announced a partnership with Arable Labs, Inc. in 2021. Their joint initiative involves introducing a digital solution that utilizes in-field data to enhance crop yield and quality. The partnership aims to encourage the adoption of sustainable farming practices through the utilization of advanced technology and data analytics.
In 2020, Asahi Kasei Corporation, a Japanese chemical company, acquired Veloxis Pharmaceuticals, Inc., a Danish biopharmaceutical company. The acquisition aimed to broaden Asahi Kasei Corporation's product range in the pharmaceutical sector and fortify its market position.
Also in 2020, BASF SE, a leading chemicals company, announced a partnership with Givaudan SA to create innovative fragrances and flavors. The partnership seeks to capitalize on the strengths of both companies to produce unique and sustainable products that meet the changing needs of consumers and customers.
Microcrystalline Cellulose (MCC) Market: Competitive Landscape
The global Microcrystalline Cellulose (MCC) market report includes several major companies that are contributing to the market growth. These companies are FMC Corporation, Dupont de Nemours, Inc., Asahi Kasei Corporation, BASF SE, Avantor, Inc., DFE Pharma, JRS Pharma GmbH Co. KG, Mingtai Chemical Co., Ltd., Microcrystalline Cellulose (MCC) Manufacturer, and BLANVER FARMOQUIMICA LTDA. These companies are focusing on developing new products, expanding their product portfolios, and investing in research and development activities to meet the growing demand for MCC from various end-use industries. They are also adopting various strategies such as partnerships, collaborations, and mergers and acquisitions to enhance their market position and stay competitive in the market. With the increasing demand for MCC, these companies are expected to continue playing a crucial role in the growth of the global MCC market.
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