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 other government regulations haveboosted 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 harmed the worldwide economy. Thefood 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 to Aid Expansion
Because of the high demand from the food industry, theCarboxymethyl 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. The use of CMCX removes
the need for churners and salt ice mixes, which are commonly employed in the
production of ice cream. Furthermore, rising demand for premixes, bread items,
instant noodles, meat products, sauces, fast-frozen meals, and other
ready-to-cook and ready-to-eat items is driving up demand for carboxymethyl
cellulose.
Market Segments:
Based on application, the market is classified 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.
Geographically, the market is classified into North America, AsiaPacific, Europe, Latin America, and the Middle East and Africa.
What does the Report Include?
The market report includes a detailed assessment of various growthdrivers 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. The competitive landscape
offers further detailed insights into strategies such as product launches,
partnerships, mergers and acquisitions, and collaborations adopted by the
companies to maintain the market stronghold between 2021 and 2028.
Regional Insights:
High Demand for Convenience Food to Augment Growth in Asia Pacific
The market size in Asia Pacific stood at USD 0.69 billion in 2020and is expected to expand due to the increasing demand for convenience food
products. The presence of huge oil reserves will contribute to the growth of
the market in North America. Whereas the heavy demand from paper & pulp
sector can spur opportunities for the market in Europe.
