When it comes to the manufacturing of cosmetic products there are number of prerequisites. Majority of these are foretold requirements with respect to the properties actions, and structure of the main ingredients. Microcrystalline cellulose has number of favorable properties and that has helped in the overall development of the global market in recent years. Numerous chemical technologies have matured and shaped over the last ten years. As a result of these studies and research, microcrystalline cellulose market is thriving.
Developments in Food Industry to Propel Market Growth
The European Union (EU) has suggested some amendments about the laws related the usage of microcrystalline cellulose to the EFSA Panel on Food Additives. Currently, the substance is being used as a prominent food additive across the Europe region. Numerous other laws and ordinances in relation to the usage of microcrystalline cellulose have been issued across different nations. All these factors have contributed significantly in pushing up the popularity of microcrystalline cellulose. The developments in the food industry across the globe are also important factor helping to fuel the development of the global microcrystalline cellulose market.
One of the key trends that has emerged in the global microcrystalline cellulose market in recent years is the increasing popularity of biological leavening agents. Product managers and investors in the global market are concentrating on different sectors such as ethylcellulose, carboxymethyl cellulose, microcrystalline cellulose, and methylcellulose among others. These products have gained the status of new and innovative ingredient across a broad range of industries.
Expanding Production Capacities is Key for Market Players
The competitive landscape of the global microcrystalline cellulose market is a fragmented one. There are multiple leading players in the market who are vying to reach the top spot. This has thus created ample competition in the global microcrystalline cellulose market, which in turn, is expected to prove beneficial for its overall development. These leading companies in the global microcrystalline cellulose market are concentrating on expanding the production and manufacturing capabilities to previously untapped regional markets.
Some of the leading companies in the global microcrystalline cellulose market include names such as FMC Corporation, Sigachi Industrial Pvt. Ltd., J. Rettenmaier & Sohne GmbH + Co. KG, Juku Orchem Pvt. Ltd., Accent Microcell Pvt. Ltd., and Asahi Kasei Corporation among others.
With such developments happening in the global microcrystalline cellulose, the research report projects the valuation of the market will soar up to US$936.3 mn by the year 2020. The growth of the market will be achieved with the help of a strong CAGR of 5.8% over the duration of the projection period of 2014 to 2020. Initially, the market recorded a valuation of US$632.9 million in the year 2013.
The global microcrystalline cellulose market is segmented on the basis of:
- Food and Beverage
- Personal Care
- Other End-uses
- South America
- North America
- The Middle East and Africa
- Asia Pacific
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