The global cellulose nanocrystals market was valued at $55.7 million in 2021, and is projected to reach $315.8 million by 2031, growing at a CAGR of 19% from 2022 to 2031.
Nanocrystals of cellulose are chemical aggregates that can be combined to generate a crystalline form of the medicine surrounded by a thin layer of surfactant. They have several applications in materials research, chemical engineering, quantum dots for biological imaging, and nanomedicine for medication delivery. Nanocrystals can also be stacked and put to flexible substrates to produce solar panels. They have also been utilized in the production of filters that convert crude oil into diesel fuel.
The growth of cellulose nanocrystals in biomedical engineering is expected to enhance by key factors such as development in Artificial Intelligence (AI) technology, and high investment in R&D for expansion of the biomedical industry has enhanced the market growth. In addition, increased crop yields, rise in production of drug, and surge in demand for genetically modified plants in developed and developing countries are expected to increase the demand for cellulose nanocrystals.
Fluorescence imaging using nanocrystals has been employed in gene identification, protein analysis, enzyme activity evaluation, element tracing, cell tracking, early-stage illness diagnosis, and monitoring real-time therapy effects in medical imaging. Philips announced the introduction of an AI-enabled MR imaging portfolio in November 2021, intending to improve the efficiency and sustainability of radiology operations by speeding up MR tests. These factors together act as the key drivers responsible for the growth of the cellulose nanocrystals market during the forecast period.
Cellulose nanocrystals have a wide range of applications in various end-use industries. However, the production process of cellulose nanocrystals requires extensive technical expertise. Furthermore, the higher price of cellulose nanocrystals has enforced manufacturers to opt for substitute products. The manufacturing of cellulose nanocrystals for a given purpose necessitates high-end technology. Nanocellulose production has not yet been marketed on a significant scale due to a lack of competence. Furthermore, the few companies that manufacture cellulose nanocrystal materials hold patents on their technologies which requires a considerable initial investment. These factors are restraining the overall growth of the cellulose nanocrystal market during the forecast period.
Rise in population across the globe, increase in disposable income among people, and rapid shift in the consumer preference for packaged food have enhanced the performance of the cellulose nanocrystal market. Moreover, the increase in food processing activity has escalated the food packaging industry. For instance, according to a report published by the Indian Ministry of Food Processing Industry in August 2022, the contribution of the food processing sector has increased continuously with Gross Value Added (GVA) in the food processing sector from Rs.1.34 lakh crore in 2014-15 to Rs. 2.37 lakh crore in 2020-21 at a (CAGR) of 9.97%.
Cellulose nanocrystal is widely used in the low-calorie replacement for carbohydrate additives. According to an article published by the National Library of Medicine, cellulose nanocrystals are primarily obtained from naturally occurring cellulose fibers and they are biodegradable and renewable in nature because of that it is also considered as thickeners, flavor carriers, and suspension stabilizers in a wide variety of food products. These factors are expected to enhance the cellulose nanocrystal market; thus, offering the most remunerative opportunities during the forecast period.
Nanocrystals of cellulose are chemical aggregates that can be combined to generate a crystalline form of the medicine surrounded by a thin layer of surfactant. They have several applications in materials research, chemical engineering, quantum dots for biological imaging, and nanomedicine for medication delivery. Nanocrystals can also be stacked and put to flexible substrates to produce solar panels. They have also been utilized in the production of filters that convert crude oil into diesel fuel.
The growth of cellulose nanocrystals in biomedical engineering is expected to enhance by key factors such as development in Artificial Intelligence (AI) technology, and high investment in R&D for expansion of the biomedical industry has enhanced the market growth. In addition, increased crop yields, rise in production of drug, and surge in demand for genetically modified plants in developed and developing countries are expected to increase the demand for cellulose nanocrystals.
Fluorescence imaging using nanocrystals has been employed in gene identification, protein analysis, enzyme activity evaluation, element tracing, cell tracking, early-stage illness diagnosis, and monitoring real-time therapy effects in medical imaging. Philips announced the introduction of an AI-enabled MR imaging portfolio in November 2021, intending to improve the efficiency and sustainability of radiology operations by speeding up MR tests. These factors together act as the key drivers responsible for the growth of the cellulose nanocrystals market during the forecast period.
Cellulose nanocrystals have a wide range of applications in various end-use industries. However, the production process of cellulose nanocrystals requires extensive technical expertise. Furthermore, the higher price of cellulose nanocrystals has enforced manufacturers to opt for substitute products. The manufacturing of cellulose nanocrystals for a given purpose necessitates high-end technology. Nanocellulose production has not yet been marketed on a significant scale due to a lack of competence. Furthermore, the few companies that manufacture cellulose nanocrystal materials hold patents on their technologies which requires a considerable initial investment. These factors are restraining the overall growth of the cellulose nanocrystal market during the forecast period.
Rise in population across the globe, increase in disposable income among people, and rapid shift in the consumer preference for packaged food have enhanced the performance of the cellulose nanocrystal market. Moreover, the increase in food processing activity has escalated the food packaging industry. For instance, according to a report published by the Indian Ministry of Food Processing Industry in August 2022, the contribution of the food processing sector has increased continuously with Gross Value Added (GVA) in the food processing sector from Rs.1.34 lakh crore in 2014-15 to Rs. 2.37 lakh crore in 2020-21 at a (CAGR) of 9.97%.
Cellulose nanocrystal is widely used in the low-calorie replacement for carbohydrate additives. According to an article published by the National Library of Medicine, cellulose nanocrystals are primarily obtained from naturally occurring cellulose fibers and they are biodegradable and renewable in nature because of that it is also considered as thickeners, flavor carriers, and suspension stabilizers in a wide variety of food products. These factors are expected to enhance the cellulose nanocrystal market; thus, offering the most remunerative opportunities during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cellulose nanocrystals market analysis from 2021 to 2031 to identify the prevailing cellulose nanocrystals market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cellulose nanocrystals market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cellulose nanocrystals market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source Type
- Wood
- Straw
- Cotton
- Others
By Application
- Biomedical
- Pulp and Paper
- Food and Beverages
- Cosmetics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Anomera, Inc.
- GranBio
- CelluForce
- CelluComp
- Melodea Ltd
- Nanocrystacell
- Kruger Inc.
- Sappi
- Blue Goose Refineries
- innotech alberta
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CELLULOSE NANOCRYSTALS MARKET, BY SOURCE TYPE
CHAPTER 5: CELLULOSE NANOCRYSTALS MARKET, BY APPLICATION
CHAPTER 6: CELLULOSE NANOCRYSTALS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Cellulose Nanocrystals Market," the cellulose nanocrystals market was valued at $55.7 million in 2021, and is estimated to reach $315.8 million by 2031, growing at a CAGR of 19% from 2022 to 2031.Cellulose nanocrystals are unique nanomaterials are derived from the pulp of fibrous plant material, a natural polymer, cellulose, and other sources. The nanocrystal is a depolymerized cellulose obtained by treating alpha-cellulose with mineral acids and acid hydrolysis that consist of cylindrical, elongated, less flexible, and rod-like nanoparticles. It acts as an anti-caking agent, texturizer, emulsifier, and binding agent. Cellulose nanocrystal finds a wide range of applications in pharmaceuticals, food & beverages, cosmetics, pulp and paper, textiles, and others.
The utilization of wood-based cellulose nanocrystals has increased in the cosmetics, paper industry, food & beverages, and the pharmaceutical industry due to its excellent tissue substituent and binding agent. This may act as one of the key drivers responsible for the growth of cellulose nanocrystals in the wood-based segment. The rise in population across the globe, increase in disposable income among people, and rapid shift in the consumer preference for several types of fruit juices & carbonated drinks have enhanced the performance of the food and beverages industry. It is widely used as a stabilizer, a low-calorie replacement for carbohydrate additives that are used as thickeners, flavor carriers, and suspension stabilizers during the production process of processed food. Wood-based cellulose nanocrystals can be consumed as a natural source of dietary fiber. This is projected to drive the growth of the wood-based cellulose nanocrystal market during the forecast period.
The demand for capsules, drugs, medical-grade products, tablets, and others is expected to grow in the coming years as the pharmaceutical industry across the globe is in its growth phase. Therefore, cellulose nanocrystal is anticipated to increase the overall potential sales of the pharmaceutical industry. For instance, according to an article published by India Brand Equity Foundation in December 2022, the pharmaceutical market is expected to increase at a CAGR of 37% from 2020 to 2025 to reach US$50 billion. Cellulose nanocrystal finds a wide range of opportunities in nanomedical applications where it is used in tissue substituents, antibacterial agents, biosensors, and bioimaging agents. In addition, derivatives of cellulose nanocrystals are used as a thickening agent of pharmaceutical solutions and disperse systems such as emulsions and suspensions. This factor is projected to drive the market growth during the forecast period
Habitual consumption of cellulose nanocrystal may have adverse effects on human health. For instance, according to an article published by MedLab International Inc., too much consumption of cellulose nanocrystal can have unwanted side effects as the stomach and blood system cannot absorb it correctly. It may cause energy loss, headaches, and forgetfulness. This may act as a challenging factor for the growth of the cellulose nanocrystal market.
Moreover, surge in awareness about healthy lifestyle and rise in concern about organic and low-calorie supplements among youngsters have enhanced the growth of the cellulose nanocrystals market where it is used a low-calorie replacement for carbohydrate additives and suspension stabilizers. This factor is ecpected to oofer most lucrative opportunities in the furture.
The biomedical sector is one of the booming sectors across the globe. This is due to the rise in population, increase in R&D activities, advancement in technology, and surge in focus on the sector. For instance, according to an article published by Invest India in January 2023, India’s biotechnology industry crossed $80.12 billion revenue and growing 14% in 2022. These factors are expected to boost the overall demand for cellulose nanocrystals in the market. The dry binding properties of cellulose nanocrystal are used as a tissue substituent, antibacterial agents, and bioimaging agents. In addition, it is widely used in the pharmaceutical industry as a diluent in the formulation of drugs and capsules. The major advantage of using cellulose nanocrystal is its binding capacity, chemical purity, and low reactivity. This is projected to drive the market growth in the coming years.
For the purpose of analysis, the global cellulose nanocrystal scope covers segmentation based on source type, application, and region. The report provides information on source types in which the market is divided into all wood, straw, cotton, and others. Furthermore, the applications covered in the study include biomedical, pulp and paper, food and beverages, cosmetics, and others. In addition, it analyzes the current market trends across different regions, such as North America, Europe, Asia-Pacific, and LAMEA.
The report highlights numerous factors that influence the growth of the global cellulose nanocrystal market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain the intense competition in the industry.
The major players operating in the global cellulose nanocrystal market are Anomera, Inc., Blue Goose Refineries, CelluComp, CelluForce, GranBio, innotech alberta, Kruger Inc., Melodea Ltd, Nanocrystacell, and Sappi.
Companies Mentioned
- Anomera, Inc.
- GranBio
- CelluForce
- CelluComp
- Melodea Ltd
- Nanocrystacell
- Kruger Inc.
- Sappi
- Blue Goose Refineries
- innotech alberta
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 403 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 55.7 million |
| Forecasted Market Value ( USD | $ 315.8 million |
| Compound Annual Growth Rate | 18.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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