The global carboxymethyl cellulose market size isexpected to reach USD 2.23 billion by 2028, exhibiting a CAGR of 4.2% between
2021 and 2028. The rising demand for ready-to-cook food products will create
lucrative opportunities for this market in the forthcoming years, states
Fortune Business Insights, in a report, titled “Carboxymethyl Cellulose(CMC) Market, 2021-2028.” The market size stood at USD 1.60 billion in2020.
The restrictions on mobility and othergovernment regulations have boosted the demand for packed and ready-to-cook
foods during the outbreak. Concerns about food availability and safety during
the pandemic's start led to a surge in demand for food items such as primary
foods, convenience foods, and secondary processed foods. As a consequence,
demand for food stabilizers, thickening agents, and other components used in
food processing increased, further propelling this market.
Source:
COVID-19 Impact:
The COVID-19 epidemic severely harmedthe worldwide economy. The food distribution system is regarded as one of the
most important sectors of the economy, and the outbreak has been found to
influence the entire operation from field to consumer. The food industry's
production, distribution, and supply activities were significantly affected,
which is currently a major cause for concern. Employee restrictions, federal
regulations, food trade barriers, changes in consumer desire, and financial
strain due to an unexpected halt in production and distribution operations
affected the market. Despite the unprecedented demand for food during the
epidemic, food chain participants such as farmers, suppliers, distributors, and
retailers continue to struggle amid the global pandemic.
Driving Factor:
Surging Demand for Food Additives toAid Expansion
Because of the high demand from thefood industry, the Carboxymethyl Cellulose market is expected to develop
significantly. One of the primary factors driving the market is the rising
demand for food additives such as thickening agents, stabilizers, and viscosity
modifying agents. CMC powder, for example, is used in the manufacture of ice
cream.
Market Segments:
Based on application, the market isclassified into food & beverages, oilfield, paper & pulp, detergents,
coatings, and others. The increasing demand for detergents due to their
exceptional properties of sodium carboxymethyl cellulose will aid the segment’s
growth. Furthermore, the adoption of CMC in oil drilling activities as
thickening agent for water retention in drilling mud is another segment
experiencing growth.
What does the Report Include?
The market report includes a detailedassessment of various growth drivers and restraints, opportunities, and
challenges that the carboxymethyl cellulose market will face during the
projected horizon. Additionally, the report provides comprehensive research
into the regional developments of the market, affecting its growth during the
forecast period. It includes information sourced from the advice of expert
professionals from the industry by our research analysts using several
methodologies.
