Transparency Market Research, New York: End-use industries in the microcrystalline cellulose market such as food and beverages, cosmetics, personal care and pharmaceutical industries extensively utilize the physiochemical and other properties of microcrystalline cellulose. These use it as emulsifier, anticaking agent, and texturizer. Most prominently its use as excipients in wide range of drug formulations is spurring revenue generation in the microcrystalline cellulose market. In cosmetics and personal care industry, microcrystalline cellulose is used for wide range of applications, notably as binders and fat substitute.
Food and beverages and pharmaceutical industries accounted for a combined share of more than half of the shares in the microcrystalline cellulose market in 2018.
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The global valuation of the microcrystalline cellulose market was pegged to rise at CAGR of ~ 6% between 2019 and 2027, and surpass the worth of US$ 1.46 Bn by the period-end.
Key Findings of Microcrystalline Cellulose Market
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Microcrystalline Cellulose Market: Key Driving Factors and Promising Avenues
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Microcrystalline Cellulose Market: Regional Landscape
Regionally, North America and Europe have been accounting for a promising revenue share in the microcrystalline cellulose market. A large proportion of the demand has come from the food and beverages industry and in drug making. Further, these regional markets are utilizing microcrystalline cellulose for developing novel cosmetic formulations.
The uptake in the food and beverages industry is more prominent in Asia Pacific countries. The revenue generation in the regional market has gained substantially from the considerable consumption of packaged food products in several countries. These include Thailand, India, Mexico, South Africa, South Korea, and China.
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Microcrystalline Cellulose Market: Competitive Landscape
Most of the shares in the microcrystalline cellulose market are concentrated in the hands of few large and medium-scale companies. Most manufacturers are domiciled in Europe and the U.S. Small players are eyeing considerable revenue streams in Asia Pacific. Players are leaning on product innovations to consolidate their position. Some players are focusing on reducing the cost of production and are seeking cost-effective sources. Several of the emerging and established players are stressing on expanding their production facilities.
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The Microcrystalline Cellulose Market can be segmented as follows:
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