Changing consumer purchasing behavior has shown inclination toward naturally-sourced products. The adequacy of natural products and health & wellness benefits associated with them are factors aiding the popularity of natural plant-sourced cellulose gel. Customer preferences have been influenced toward natural products, with people increasingly suffering from various diseases and being allergic to synthetic products. Manufacturers are increasingly offering naturally-sourced products, including cellulose gel, especially for high growth consumer product segments such as food products, cosmetics, personal care, and pharmaceutical products.
- For instance, India-based Godavari Biorefineries Ltd. has introduced sugarcane-based micro-crystalline cellulose gel for use in pharmaceutical, food, and cosmetics industries.
As such, the global cellulose gel market is expected to exhibit a significant value CAGR of over 7% over the forecast period of 2020 to 2030.
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Key Takeaways from Cellulose Gel Market Study
- Developed regions of North America and Europe, together, account for 53% value share of the global cellulose gel market. This is attributable to higher demand for cellulose gel from food & beverages and pharmaceutical industries in these regions.
- The pharmaceutical industry is the biggest consumer of cellulose gel with a market value share of 41.5%, owing to the bio-based multifunctional property of cellulose gel that makes it versatile for pharmaceutical products.
- The bakery and confectionery industry is expected to witness the highest incremental value opportunity during the forecast period, attributable to its properties such as stabilizing, gelling, and thickening, as well as retaining air for volume of bakery products.
- By source, wood-based cellulose gel dominates the global cellulose gel market with 90% of market value share. However, non-wood based cellulose gel is expected to exhibit a significant value CAGR of 8% over the forecast period, owing to its lower price as compared to wood-based cellulose gel.
- The COVID-19 outbreak has created an anxious situation among food & beverage manufacturers, but steady demand for cellulose gel, owing to its property of increasing the shelf life of products, is expected to have minimal impact on the growth of the market.
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Global Cellulose Gel Market: Competitive Landscape
Key players in the global cellulose gel market landscape are focusing on merger activities to gain synergies of operations and increase their presence and share in the global market.
- In 2019, DuPont de Nemours, Inc. entered into merger agreement with IFF worth US$ 45.4 billion. This merger would enable both companies to strengthen their positions across key nutrition and other categories.
- In 2018, Asahi Kasei Corporation announced its alliance with SPI Pharma, Inc. for the distribution of its Ceolus microcrystalline cellulose in the U.S. and Canada.
Manufacturers operating in the cellulose gel market are also investing to increase production capacities in order to cater to increasing demand for cellulose gel in the global market.
- In 2019, Roquette Frères incorporated a new research & development unit in Lithuania, to drive its long-term vision for innovation.
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