Microcrystalline Cellulose Market Trends

Growth Drivers

• Increasing Demand for Gluten Free Food Products Globally-Market growth in the years to come is expected to be enhanced by an increase in the number of people with intestinal problems and a higher incidence of celiac disease. In the coming years, there has been an increasing number of people who have allergies to different food products around the world. Due to celiac disease or severe gluten allergy, the proportion of Americans needing free food was more than 28% in 2019.
• Rising Consumption of Hair and Skin Care Products- As young people become more conscious about their appearance, haircare, and skincare products have become part of routine grooming for them. More than 37 % of the world's consumers are using facial beauty products every day, based on a report from 2023.
• Increasing Growth in the Textiles Industry- There has been an increased demand for textiles in household products, which required microcrystalline cellulose. In 2021, it is estimated that the export value of textiles, fibers and clothing in the United States will reach US$ 28 billion, as compared to USD 24 billion in 2020.

Challenges

• Availability of Alternatives Such as Cotton Crops, Corn, Banana Bamboo Farming, and Soybean Crops- In order to reduce the cost of production, which is expected to bring in a very attractive price compared with wood or not-wood pulp products, it is foreseen that MCC will be produced from another plant-based product. The growth of markets worldwide is expected to be hindered by these factors. It is also estimated that market growth will be hindered by high raw material prices and the production process.
• Environment challenges and restrictions from government are factors which may hinder the growth of the market
• New Advancements in the Pharma Industry with a Lot of New Excipients could be a restraining factor