The carboxymethyl cellulose market size accounted for approximately USD 1.7 billion in 2022 and is projected to register a CAGR of ~4% from 2022 to 2030 to reach 2.3 billion in 2030.
Market Insights and Analyst View:
Carboxymethyl cellulose is a cellulose derivative with a carboxymethyl group bound to one of the hydroxyl groups of the cellulose polymer. It is commonly used in various industries, including food, pharmaceuticals, and cosmetics, due to its excellent thickening, stabilizing, and emulsifying properties. In the food & beverages industry, there is a rising demand for carboxymethyl cellulose as it acts as an effective thickening agent, enhancing the viscosity and texture of the food products such as sauces, dressings, dips, and beverages. It helps to stabilize the emulsions, preventing the separation of ingredients in products like salad dressings, ice creams, and frozen desserts. It also has water retention properties, preventing the formation of ice crystals in ice creams and frozen desserts and improving moisture retention in bakery products. Thus, various benefits of carboxymethyl cellulose in food & beverage formulations are driving its demand in the industry, propelling the carboxymethyl cellulose market growth.
The rising population, increasing urbanization, and changing lifestyles of people are some of the key factors driving the growth of the global food & beverages industry. There is a rising consumption of convenience food due to hectic lifestyles and extended working schedules. Carboxymethyl cellulose is witnessing high demand from food & beverage manufacturers due to its stabilizing, emulsifying, and thickening properties. Thus, the rapid growth of the global food & beverage industry coupled with the increasing popularity of carboxymethyl cellulose as a food additive are driving the carboxymethyl cellulose market growth.
Growth Drivers and Challenges:
The rising demand for carboxymethyl cellulose from the pharmaceutical industry due to its stabilizing and binding properties drives the carboxymethyl cellulose market. Carboxymethyl cellulose (CMC) is a valuable ingredient in various pharmaceutical applications:
- Carboxymethyl cellulose (CMC) acts as a binder in tablet formulations, which helps to hold all the ingredients together. It also acts as a disintegrant, aiding in the tablet's breakdown for efficient drug release.
- CMC is used in various pharmaceutical formulations as a viscosity modifier, enhancing the stability and ease of administration, especially in suspensions and syrups.
- Carboxymethyl cellulose stabilizes the emulsions and suspensions, ensuring that the pharmaceutical formulations remain well-dispersed and uniform.
- In some drug delivery systems, CMC is used to control the release of active pharmaceutical ingredients (APIs), providing a sustained and controlled release of optimal therapeutic effects.
- It is used in eye drops and ointments as a viscosity modifier and stabilizer, improving the retention of the product on the ocular surface.
- In wound care products, CMC contributes to the formation of gels and ointments, aiding the protection and healing of wounds.
- CMC can also be used to enhance the bioavailability of poorly water-soluble drugs by improving their solubility and dissolution rate.
- CMC is also GRAS-approved (Generally Recognized as Safe) by the Food and Drug Administration (FDA), making it suitable for pharmaceuticals without any significant safety concerns.
Thus, the wide range of applications of carboxymethyl cellulose (CMC) in the pharmaceutical industry drives its demand, fostering the carboxymethyl cellulose market development.
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Carboxymethyl Cellulose Market: Strategic Insights
Market Size Value in US$ 1.7 billion in 2022 Market Size Value by US$ 2.3 billion in 2030 Growth rate CAGR of ~4% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Carboxymethyl Cellulose Market: Strategic Insights
| Market Size Value in | US$ 1.7 billion in 2022 |
| Market Size Value by | US$ 2.3 billion in 2030 |
| Growth rate | CAGR of ~4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The "Global Carboxymethyl Cellulose Market" is segmented based on application and geography. Based on application, the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care & cosmetics, oil & gas, paper & pulp, detergents, and others. The market based on geography is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
Based on application, the carboxymethyl cellulose market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care & cosmetics, oil & gas, paper & pulp, detergents, and others. The food & beverages segment is expected to hold a majority of the market share in 2022, and the personal care & cosmetics segment is projected to witness the fastest CAGR from 2022 to 2030. The personal care & cosmetics industry is witnessing rapid growth due to rising demand for products such as shampoos, conditioners, moisturizers, gels, lotions, and cosmetics. The changing lifestyle of people, rising interest in self-grooming and self-care, and availability of a wide range of personal care and cosmetics of different brands across the retail shelves are the key factors driving the global personal care & cosmetics industry. Carboxymethyl cellulose (CMC) is becoming an integral part of personal care and cosmetic formulations as it acts as a viscosity modifier, stabilizer, film-forming agent, texture enhancer, and suspending agent. Thus, the rapid growth of the personal care industry coupled with increasing demand for CMC due to its various benefits are driving the growth of the carboxymethyl cellulose market.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
Based on geography, the carboxymethyl cellulose market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The Asia Pacific carboxymethyl cellulose market is expected to grow significantly over the forecast period. The booming food & beverages industry due to increasing population, urbanization, and rising demand for convenience food provides strong growth potential to the carboxymethyl cellulose market across the Asia Pacific. Moreover, with the expansion of the pharmaceuticals industry across the Asia Pacific and rising awareness of health and well-being among people due to the increasing prevalence of lifestyle diseases, the demand for pharmaceutical ingredients, including CMC, is increasing, driving the market growth.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the carboxymethyl cellulose market are listed below:
- In July 2020, Nouryon completed the acquisition of J.M. Huber Corp's carboxymethyl cellulose (CMC) business. The acquisition will help Nouryon broaden its CMC product portfolio, which will help cater to a broader customer base across various geographies.
- In February 2023, Nippon Paper Industries Co Ltd announced the establishment of a carboxymethyl cellulose manufacturing facility in Hungary, which is one of the popular materials used in lithium-ion batteries of electric vehicles. The expansion of its manufacturing and sales facility in Hungary will help the company strengthen its rapidly growing supply chain in Europe.
COVID-19 Impact:
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverages, personal care & cosmetics, textile, paper, and oil & gas industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020.
Many industries that use CMC, such as textile manufacturing, paper & pulp, and oil & gas, experienced slowdowns and temporary closures, leading to a decline in demand for CMC, which hampered the carboxymethyl cellulose market growth to a large extent. Moreover, changes in customer purchase patterns, including reduced spending on nonessential items, impacted industries such as personal care & cosmetics, which also affected the growth of the carboxymethyl cellulose market due to reduced demand. However, the increase in demand for pharmaceuticals & dietary supplements that prevent various infections and diseases and ensure well-being led to an increase in demand for pharmaceutical ingredients, including carboxymethyl cellulose, which propelled the market growth. Also, increased demand for packaged food items due to hygiene concerns also had a positive impact on CMC demand as it is one of the widely used food additives in various products such as bakery and confectionery, dairy and frozen desserts, and meat snacks, among others.
In 2021, various economies resumed operations as several governments announced relaxation in the previously imposed restrictions, positively impacting the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap. All these factors had a positive impact on the growth of the carboxymethyl cellulose market.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global carboxymethyl cellulose market are Nouryon, Ashland, International Flavors & Fragrances Inc, Daicel Corporation, DKS Co. Ltd., CP Kelco, Akzo Nobel NV, Dow, Ingredion, and J. RETTENMAIER & SÖHNE GmbH + Co KG among others. These market players are adopting strategic development initiatives to expand, further driving the carboxymethyl cellulose market growth. These companies are adopting various strategies such as merger & acquisition, partnership, collaboration, new product development, and plant capacity expansion to increase their carboxymethyl cellulose market share.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. Akzo Nobel N.V.
2. Ashland
3. Daicel Corporation.
4. DKS Co. Ltd.
5. J.M. Huber Corporation
6. Lamberti S.p.A.
7. NIPPON PAPER INDUSTRIES CO., LTD.
8. Qingdao Tianya Chemical Co., Ltd
9. The Dow Chemical Company
10. USK KIMYA CORP.
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