Market Size of Microcrystalline Cellulose Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Microcrystalline Cellulose (MCC) Market Analysis
During the time frame of the forecast, the microcrystalline cellulose market is expected to register a CAGR of over 6%.
Pharmaceuticals and cosmetics are the major end-user industries of microcrystalline cellulose. The coronavirus (COVID-19) pandemic altered the face of the beauty industry. As a result of months of consumer lockdowns, international travel bans, and retail business closures, sales, purchases, and usage fell across many beauty segments. However, the pharmaceutical industry experienced an increase in production due to the COVID-19 pandemic as the medicines used in hospitals around the world increased, thus increasing the demand for microcrystalline cellulose, which was used in the production of drugs. Furthermore, government support in various countries in the pharmaceutical sector is expected to positively influence the market studied.
- In the short term, demand for the market under consideration is likely to be driven by the growing demand for microcrystalline cellulose from the pharmaceutical industry in major economies around the world.
- On the other hand, the high costs of making microcrystalline cellulose are likely to slow the growth of the market that was studied.
- With more pharmaceutical products being made in countries like India and China, the Asia-Pacific region is expected to have the largest share of the market.
