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NEWARK, Del, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The global microcrystalline cellulose market is expected to create an opulent growth opportunity in the global arena by exhibiting a stable CAGR of 4.7% throughout the forecast period from 2022 to 2028. Sales in the global microcrystalline cellulose market are valued at US$ 619.80 Mn in 2022 and are expected to surpass US$ 818 Mn in 2028.
According to the detailed analysis by Future Market Insights, the variation between the BPS values observed in the Microcrystalline Cellulose market in H1, 2022 - Outlook over the first half of 2022 Projected reflects a spike of 20 basis point share. However, compared to the first half of 2021, the market is expected to gain about 90 BPS in the first half of 2022.
Future Market Insights has presented a half-yearly growth comparison forecast for the microcrystalline cellulose market's key developments and other prominent market aspects. The demand for microcrystalline cellulose is on the rise due to its extensive end-use application in industries such as cosmetics & personal care, pharmaceuticals, and food & beverages among others.
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Manufacturers and key market players are heavily investing in technology to integrate microcrystalline cellulose (MCC) as an exfoliating agent in the personal care products such as face washes, body scrubs, and foaming powders.
The key market trends that are willing to accelerate microcrystalline cellulose market growth facilitate enhancements through acquisitions, expansions, and collaborations along with hefty investment in research & development.
Amidst the global pandemic, pharmaceutical companies have surged their research and development efforts in order to help the development of novel drugs and other active pharmaceutical ingredients (APIs) which will propel the market growth across the forecast period.
More Insights into the Microcrystalline Cellulose Market
The North American region is expected to register opulent growth over the forecast period, as the market accounts for 24.9% of the total revenue share in the global market in 2022. The United States market is expected to grow at a robust CAGR of 4.6% over the assessment period.
The United Kingdom is expected to dominate the global microcrystalline cellulose market by securing around 67.4% of the total market share in 2022. According to FMI reports, the U.K. is projected to surge at a 3.1% CAGR with the ongoing expansion of the pharmaceutical and healthcare sectors. These factors will continue boosting the market across the assessment period.
India is projected to showcase lucrative growth opportunities across the forecast period by exhibiting a healthy CAGR of 7.1% throughout the forecast period. The increasing production and consumption of processed and ready-to-eat foods have led to a surge in the microcrystalline cellulose market in developing countries like India.
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Microcrystalline Cellulose Market by Category
Explore wide-ranging Coverage of FMI's Chemicals And Materials Market Insights Landscape:
Carboxymethyl Cellulose Market: The carboxymethyl cellulose market is valued at US$ 1.71 Bn in 2021. It is set to grow at 5.2% CAGR through 2027.
Microcrystalline Wax Market: Microcrystalline wax market increasing inclination towards the natural waxes, highly preferable wax properties such as elasticity, melting point, and flexibility favor the growth.
Cellulose Derivative Market: The global cellulose derivative market size reached a valuation of US$ 5,873.4 Million in 2022. The expanding demand for various industry and wide ranges of applications are projected to be the market's primary growth drivers.
Methyl Cellulose Market: Methyl cellulose is a hydrophilic white powder chemical compound derived from cellulose. It exhibits non-irritating, non-toxic, and non-allergic effects.
Nanocrystalline cellulose Market: Nanocrystalline cellulose is classified as a key evolving renewable nanomaterial that is likely to create huge influence on numerous end-user industries.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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