The global sales of microfibrillated cellulose fiber is growing swiftly with an impressive CAGR of ~ 13.6% through 2029, propelled by the paper and packaging industries worldwide. With the growing trend of clean label and ecofriendly packaging solutions, the demand for microfibrillated cellulose fiber is likely to propel over the forecast period. Moreover, rising investments in research & development activities to develop cost effective production technology and collaboration of prominent players with end-use industry giants is further going to stimulate the growth of global microfibrillated cellulose fiber market.
Demand for microfibrillated cellulose fiber is anticipated to witness tremendous growth owing to increased demand for sustainable packaging in diverse industries such as cosmetics & personal care, and food and beverages. The global sales of microfibrillated cellulose fiber is estimated to surpass a value of ~US$ 300 Mn by 2029.
“With the rising trend of sustainable packaging, microfibrillated cellulose fiber will go mainstream with manufacturers focusing on expansion of production capacity and collaboration with industry giants,” says the Fact.MR analyst.
Key Takeaways of the Microfibrillated Cellulose Fiber Market Study
- Emerging packaging applications such as personal care & cosmetics and food packaging will fuel value growth by 3.3X through 2029
- Barrier film applications among other microfibrillated cellulose applications are estimated to surpass US$120 Mn by 2029 end owing to its advanced barrier properties and growing demand for MFC film for packaging applications
- Fact.MR reports that demand for paper and packaging end use industry of microfibrillated cellulose fiber collectively accounts for over one-third of the global consumption
- Paints and Coatings among other end-use industries is likely to witness a striking growth of ~15-16% throughout the assessment period (2019-2029)
- As compared to developing regions, the sales of microfibrillated cellulose fiber are envisaged to be higher in the countries of North America and Europe. However, developing countries such as India and China are anticipated to gain lucrative profits in the coming years.
Key Segments of Microfibrillated Cellulose Fiber Market
- Barrier Films
- Performance Enhancers
- Rheology Modifiers
- Thickening Agents
- Strengthening Agents
- End-use Industry
- Paints & Coatings
- Personal Care