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Increasing demand for processed foods and beverages in developing regions such as the Asia-Pacific region is driving market expansion. In addition, the consumption of medicines such as tablets and capsules continues to increase, and the supplement market is expanding
Jersey City, New Jersey, July 22, 2021/PRNewswire/ - Verified Market Research recently released a report, "Microcrystalline Cellulose Market" by source type (wood-based and non-wood-based), By application (pharmaceutical, food and beverage), cosmetics and personal care) and by geography. According to Verified Market Research, the global microcrystalline cellulose market is valued at US$1.02 billion in 2020 and is expected to reach US$1.90 billion by 2028, with a compound annual growth rate of 8.2% from 2021 to 2028.
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Global Microcrystalline Cellulose Market Overview
The MCC market is being driven by the growing pharmaceutical industry. MCC is used in the pharmaceutical industry as a stabilizer, adhesive, film-forming agent, suspending agent and disintegrant in tablets, ointments and other topical treatment matrices. MCC is a key and commonly used excipient in the pharmaceutical industry. It is used as a diluent and binder in pharmaceutical preparations. It is commonly used in pharmaceutical preparations such as pills, capsules and sachets. The increase in pharmaceutical production is further driving the global MCC market.
Emerging markets such as China, Brazil and India are fast-growing markets and are expected to further drive MCC demand. Microcrystalline cellulose is used in the manufacture of various foods and is favored as a cold and heat stabilizer in ice cream, canned meat, frozen foods and condiments. The main ingredient of the formula is cellulose, which is generally considered a dietary fiber. Used in nutrition and functional foods to improve the fat metabolism of the gastrointestinal tract and the expression of enzymes.
In 2020, the global catering service market will reach 3.5 trillion U.S. dollars, and the population will grow at an annual rate of about 1.05%. For these reasons, the demand for microcrystalline cellulose is increasing.
Major developments in the microcrystalline cellulose market
The main players in the market are DowDuPont (USA), Rayonier Advanced Materials (Finland), Roquette (France), Avantor Performance Materials Inc. (USA), Gujarat Microwax Limited (India), Sigachi Industrial Pvt. Ltd. (India), Huzhou Linghu Xinwang Chemical Co., Ltd. (China), Asahi Kasei Chemicals Corporation (Japan), JRS Pharma GmbH & Co.KG (Germany) and DFE Pharma GmbH & Co.KG (Germany).
Validated market research segments the global microcrystalline cellulose market based on application, source type, and geographic location.
Use proven market intelligence to visualize the microcrystalline cellulose market: Verified market intelligence is our BI-supporting platform to tell the story of this market. VMI provides in-depth forecasting trends and accurate insights into more than 20,000 emerging and niche markets to help you make key decisions that affect revenue for a brilliant future.
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