by The global Microcrystalline Cellulose Market is estimated to be valued at US$ 1171.73 Mn or Million in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Microcrystalline cellulose is widely used in solid dosage forms of pharmaceutical industry as it has excellent compressibility, binding and dilution properties. It helps in enhancing the flow properties and manufacturability of the tablets. MCC also acts as an anti-sticking agent during compression, prevents the tablets from sticking to punches and dies of the tablet press machine. Widespread applications of Microcrystalline cellulose in several dosage forms including tablets, capsules, injectables have accelerated the growth of pharmaceutical industry globally.
Market Overview:
Microcrystalline cellulose is a partial depolymerized form of cellulose obtained from plants or wood pulp. It has nano-sized particles which provide it excellent compressibility, binding and dilution properties. MCC finds wide applications as an excipient in pharmaceutical, food and other industries. In pharmaceutical industry, it is commonly used as a tablet binder, disintegrant and diluent in the manufacturing of tablets and capsules. Other applications include use in cosmetics, food, paints & coatings industries as a thickening and stabilizing agent. Key advantages of microcrystalline cellulose include stiffness to tablets, enhanced compressibility, compatibility with wide range of active pharmaceutical ingredients and cost efficiency.
Market key trends:
One of the key trends in the Microcrystalline Cellulose Market Size is rising adoption in nutraceutical and functional food industries. MCC is increasingly replacing other excipients in dietary supplement formulations owing to its compatibility, stability and disintegration properties. It is widely used as an additive, thickening & stabilization agent in functional foods, dietary supplements, nutritional bars and sports nutrition products. Growth of nutraceuticals and functional foods globally is expected to surge the demand for microcrystalline cellulose during the forecast period. Second major trend is increasing investments by market players towards development of advanced MCC grades and formulations having customized properties to cater varied application requirements across industries.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires large capital investment for microcrystalline cellulose production plants and established distribution networks. However, low brand loyalty increases the threat.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes and undifferentiated products leading to a price-sensitive market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials used are plant-based and commonly available.
Threat of new substitutes: The threat of new substitutes is high as alternative excipients for various applications can be developed.
Competitive rivalry: High.
Key Takeaways
The global microcrystalline cellulose market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand from the pharmaceutical industry.
North America dominates the market and is expected to continue its dominance over the forecast period driven by the rising healthcare expenditure and the presence of major pharmaceutical companies in the region. Asia Pacific is expected to show the fastest growth rate owing to rising generic drug manufacturing and increasing healthcare investments in countries like India, China, and Japan.
Key players operating in the microcrystalline cellulose market include Huzhou City Linghu Xinwang Chemical Co., Ltd., Rayonier Advanced Materials, DFE Pharma, Mingtai Chemical Co., Ltd, JRS Pharma, Asahi Kasei Corporation, Dupont, Avantor Inc., Sigachi Industries Pvt. Ltd, Foodchem International Corporation, Quadra Chemicals, Maple Biotech Pvt. Ltd., Anhui Sunhere Pharmaceutical Excipients Co., Ltd., Accent Microcell Pvt. Ltd., RanQ, and Chemfield Cellulose.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
