Global Microcrystalline Cellulose (MCC) Market is Anticipated to Reach US$ 936.3 Mn by 2020: Transparency Market Research
Transparency Market Research has released a new market report titled “Microcrystalline Cellulose (MCC) Market for Food and Beverage, Pharmaceutical, Personal Care and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” According to the report, the global MCC market was valued at US$ 632.9 Mn in 2013 and is projected to reach US$ 936.3 Mn by 2020, expanding at a CAGR of 5.8% from 2014 to 2020.
Microcrystalline cellulose is mostly used in the pharmaceutical and food and beverage industries owing to its broad range of properties. This makes it suitable to be used as a bulking agent. MCC is used as a binding agent in tablets and other medical formulations in the pharmaceutical industry. Additionally, MCC has been approved by the U.S. Pharmacopeial Convention, and has been deemed to be a safe excipient in the pharmaceutical industry. Besides pharmaceutical applications, food industry is considered to be the primary consumer of MCC. It is widely used in bakery, beverages, dairy products, dressings, and sauces segments due to its wide range of properties. In terms of regions, North America was the largest segment of the global MCC market in 2013, due to the growth of pharmaceutical and food and beverage industries in the U.S. In terms of volume, North America accounted for more than 30% of the global MCC market in 2013.
The MCC market in North America is primarily driven by the rising consumption of MCC in the U.S. Pharmaceutical and food and beverage industries in the U.S. are expanding at a significant rate owing to the gradual recovery of the economy. Furthermore, the usage of MCC in these two industries in U.S. is increasing at a rapid pace owing to the suitable properties of MCC. Pharmaceutical companies in the U.S. are extensively using MCC as an excipient in the preparation of tablets, capsules, sachets and pellets. Furthermore, major players in the fast food industry in the U.S. are using MCC in a wide range of low fat food items. MCC has also been approved by the U.S. Food and Drug Administration (U.S. FDA) as a safe food ingredient. Additionally, people in the U.S are rapidly shifting towards low fat food items due to increasing health awareness. These factors are driving the demand for MCC in the U.S. and subsequently in North America.
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Asia Pacific is projected to be the fastest growing market for MCC during the forecast period. Rising demand for MMC in Asia Pacific would primarily be driven by rapid increase in the consumption of MCC in countries in Asia such as China, India, Malaysia, Thailand and Vietnam. Global players in the pharmaceutical industry are steadily shifting their manufacturing base to the developing countries in Asia to benefit from the skilled and cheap labor. Furthermore, multinational fast food chains are expanding their business in Asia to tap growing needs of the continuously rising population, especially the younger generation. These factors are expected to propel the demand for MCC in Asia Pacific in the next few years. The MCC market in RoW is also anticipated to expand noticeably in the near future, while the MCC market in Europe is projected to experience sluggish growth due to slow recovery of the region from the economic crisis.
Key players operating in the MCC market include Asahi Kasei Corporation, BLANVER FARMOQUÍMICA LTDA, FMC Corporation, DFE Pharma GmbH & Co. KG, J. RETTENMAIER & SÖHNE GmbH + Co KG, Libraw Pharma, JUKU ORCHEM PRIVATE LIMITED, Sigachi Industrial Pvt. Ltd., Avantor Performance Materials, Inc., MINGTAI CHEMICAL CO., LTD. and Accent Microcell Pvt. Ltd.
The report segments the global MCC market as:
Microcrystalline Cellulose Market: End-user Segment Analysis
· Food and Beverage
· Personal are
· Others (including paints & coatings, etc.)
Microcrystalline Cellulose Market: Regional Analysis
· North America
· Asia Pacific
o Southeast Asia
o South Asia
o Rest of Asia
· RoW (South America, Africa and the Middle East)