Microcrystalline cellulose is a partially depolymerized cellulose that is commonly used as a diluent, disintegrant and binder in pharmaceutical tablets and capsules. It helps in extending product shelf life and enhancing drug stability. Additionally, microcrystalline cellulose is often used as an excipient, compression aid and anti-caking agent in baked foods and animal feed. It acts as a bulking agent, texturizer and stabilizer in various food products. The global microcrystalline cellulose market is estimated to be valued at US$ 1349.84 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The microcrystalline cellulose market is primarily driven by its wide applications in the pharmaceutical industry. Around 60% of all manufactured drugs contain microcrystalline cellulose as it plays a crucial role in improving drug functionality. It boosts product shelf life, increases binding capacity and facilitates controlled drug release from tablets and capsules. Additionally, growing use of microcrystalline cellulose as an excipient and food additive has augmented its demand from various end use industries. Furthermore, expanding elderly population and increasing prevalence of chronic diseases have boosted pharmaceutical sales, thus positively impacting the microcrystalline cellulose market size.
SWOT Analysis
Strength: Microcrystalline cellulose is widely used as a binder, diluent, filler and disintegrant in pharmaceutical formulations due to its excellent compressibility and flow properties. It does not affect drug stability and has a neutral taste and odor. Many manufacturers produce microcrystalline cellulose of different grades tailored for various applications.
Weakness: The purity and properties of microcrystalline cellulose can vary depending on the wood pulp source and manufacturing process. This variability poses challenges for consistent performance in products. The cost of microcrystalline cellulose increases substantially with higher purity grades required for certain applications.
Opportunity: Growing consumption of dietary supplements and functional foods around the world is boosting demand for microcrystalline cellulose as an excipient. It is also finding increasing usage in cosmetics and personal care products as a thickening and structuring agent. Emerging applications in 3D printing offer new opportunities.
Threats: Strict regulatory norms and certifications required for excipients used in pharmaceutical formulations can restrict market access. Price fluctuation of wood pulp raw materials impacts production costs. Substitute excipients pose competition.
Key Takeaways
The Global Microcrystalline Cellulose Market Share is expected to witness high growth.
Regional analysis: Asia Pacific dominates the market currently due to large production and consumption in countries like China and India. North America and Europe are other major markets driven by widespread excipient and dietary supplement usage.
Key players operating in the microcrystalline cellulose market are Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc., Abbott, PacBio, Zymo Research Corporation, Oxford Nanopore Technologies plc, Tecan Trading AG, Hamilton Company, ZS Genetics, Inc. LI-COR, Inc. These companies manufacture different grades of microcrystalline cellulose and focus on expanding production capacities to meet the growing demand worldwide.
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