Cellulose Nanocrystals Market By Source Type (Wood, Straw, Cotton, Others), By Application (Biomedical, Pulp and Paper, Food and Beverages, Cosmetics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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.
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
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook