The MCC market is projected to grow from USD 938 million in 2019 to USD 1,315 million by 2024, at a CAGR of 7.0%, between 2019 and 2024. The growing production of pharmaceutical products is driving the global MCC market. MCC has been recognized as one of the most useful filler/binder excipients for direct compression. Over the years, MCC has gained widespread acceptance as a co-processed excipient owing to its high-dilution potential and excellent compatibility at low pressures.
The MCC market, by source type, is divided into two segments-wood-based and non-wood-based. The non-wood-based segment is expected to witness the highest CAGR, in terms of both value and volume, during the forecast period. There is a high demand for low-cost MCC from various applications, ranging from pharmaceutical to food & beverage. This is driving the demand for non-wood-based MCC, globally.
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MCC is being used increasingly in various applications, such as pharmaceutical, food & beverage, and cosmetics & personal care. The pharmaceutical application is expected to grow at the highest CAGR, in terms of both value and volume. MCC is a vital component that is used in every form of oral dosage, which includes pellets, capsules, tablets, and sachets,. Almost all the major pharmacopeias (USP, EP, BP, IP, JP, and others) have identified MCC as safe for use as an inactive ingredient in pharmaceutical formulations. MCC is increasingly being used in quick release tablets & liquid dosage forms, sustained-release multiparticulates & matrix tablets dosage forms, topical formulations, and chewable & effervescent tablets.
Increasing demand from emerging economies is one of the major opportunities for the market. China, India, and Brazil are expected to drive the demand for MCC in the next five years. Majority of the demand is expected to be from pharmaceutical and food applications, owing to the high growth of manufacturing activities in these countries.
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Europe is estimated to be the largest market for microcrystalline cellulose in 2019, in terms of value.
Europe is the largest MCC market, in terms of value, in 2019. The European region is segmented into Germany, France, the UK, Switzerland, Italy, and Spain. The overall market growth of the region is driven mainly by the increasing investments in drug development and the continuous efforts of pharmaceutical companies to offer superior-quality products. In addition, the economic recovery and the increase in employment rate are the growth factors for the processed food industry in the region, which, in turn, supports the growth of the MCC market in the food & beverage application.
Key players operating in the MCC market are DuPont (US), Asahi Kasei Chemicals Corporation (Japan), Rayonier Advanced Materials (US), Roquette (France), and DFE Pharma GmbH & Co.KG (Germany), among others.
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