Cellulose Gel Market to Reach $2.3 Billion, Globally, by 2031 at 4.5% CAGR: Allied Market Research

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Nov 28, 2022, 07:30 ET

Increase in use of cellulose gel products in the food & beverage and the oil-drilling industry, and the rise in millennial expenditure on packaged food & beverages drive the global cellulose gel market growth.

PORTLAND, Ore., Nov. 28, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Cellulose Gel Market by Source (Wood Pulp, Refined Cotton), by Application (Food & beverages, Oil & Refining, Pharmaceutical, Paint Industry & Textile, Cosmetics and Personal Care Industry, Paper Coating & Household Care, Others), by Property (Thickening Agent, Stabilizer, Binder, Anti-Repository Agent, Lubricator, Emulsifier, Excipient): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global cellulose gel industry generated $1.5 billion in 2021, and is estimated to reach $2.3 billion by 2031, witnessing a CAGR of 4.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increase in use of cellulose gel products as a thickening agent and stabilizer in ice-creams, milk, and baked food, fat-reduced food products and gluten-free products, candy preparation, as an emulsifier in products like margarines, chewing gums, and peanut butter, as an adhesive agent in the production of pencils, paper boxes, and mosquito coils, as an ingredient of drilling mud in the oil-drilling industry, and the rise in millennial expenditure on packaged food & beverages drive the growth of the global cellulose gel market. However, a decline in raw material for the production of cellulose gel hamper the global market growth. On the other hand, the use of cellulose gel as a clean label present new growth opportunities for the global market in the coming years.

Covid-19 Scenario

The outbreak of COVID-19 negatively impacted the cellulose market in 2020, as sales of companies reduced and operations were halted.
The implementation of stringent rules and the practice of maintaining social distancing across the globe impacted the domestic and international production negatively, thereby hampering the overall market growth.
The pandemic led manufacturers to focus more on online sales of cellulose to reach a large consumer base. The market is now gradually recovering with the pandemic situation improving and life getting back to normalcy.

The wood pulp segment to rule the roost during the forecast period

Based on source, the wood pulp segment was the largest market in 2021, contributing to nearly two-thirds of the global cellulose gel market share, and is expected to maintain its leadership status during the forecast period. This is because cellulose wood pulp (CP) is the most abundant, renewable, and inexpensive lignocellulosic material consisting of D-glucopyranose units, which is widely used in the paper and agricultural industries. On the other hand, the refined cotton segment is projected to witness the fastest CAGR of 5.2% from 2022 to 2031. Cotton cellulose is one of the most commonly used organic polymers in several industries, for instance, in textile industries, it is woven into clothes, socks, towels, and other nontextile materials such as tents and coffee paper.

The food & beverages segment to maintain its dominance during the forecast period

Based on application, the food & beverages segment held the largest market share of one-third of the global cellulose gel market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the largest CAGR of 5.8% from 2022 to 2031. Cellulose gel is found in a variety of popular food and beverage products, including dairy products, yogurts, alternative protein drinks and juices, a vegan replacement for gelatin in candies, and bakery products and fillings.

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Asia-Pacific to maintain its dominance and achieve the fastest growth by 2031

Based on region, North America was the largest market in 2021, capturing more than one-third of the global cellulose gel market share. The growth in the region can be attributed to huge demand for convenience diet and thriving food & beverages industry in the region. However, Asia-Pacific cellulose gel market is expected to lead in terms of revenue and manifest the fastest CAGR of 5.5% during the forecast period. This is due to the rise in potential application of cellulose in the Chinese and Indian markets. The rapid expansion of nutraceuticals in the Indian market led to the increased demand for protein over the years and this drives the demand for cellulose gel in the region. Moreover, there is an increase in the demand for cellulose gel in Asia-Pacific, owing to its use in food & beverages industry.

Leading Market Players

Ashland Global Specialty Chemicals Inc.
Cellulose Solutions Private Limited
E. I. du Pont de Nemours and Company
J. Rettenmaier & Söhne GmbH + Co KG
J.M. Huber Corporation
Libraw Pharma
Mingtai Chemical Co., Ltd.
Sigachi Industries Limited
Somaiya Group
Spectrum Chemical Mfg. Corp.

The report analyzes these key players of the global cellulose gel market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: http://bit.ly/3GMMCeJ

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