According to Global Market Insights, Inc., “Carboxymethyl Cellulose (CMC) Market size was over USD 1.2 billion in 2016, with projected gains over 4% CAGR between 2017 and 2024.” In an era where adoption of biodegradable, sustainable, and renewable polymers is being consistently propagated, carboxymethyl cellulose (CMC) market stands as a chief beneficiary, as the material is obtained from natural wood cellulose.
Given the fact that CMC possesses exceptional water retention, absorption, and thickening properties, it is being increasingly preferred across the aforementioned end use segments. Subject to these excellent material properties, various regulatory agencies across the globe have been approving the utilization of CMC as a stabilizer in food and beverages sector. This trend has, in turn, boosted the growth prospects of the overall carboxymethyl cellulose (CMC) industry in the recent times.
Citing an instance to validate the efficacy of the aforementioned statements, the Food Safety and Standards Authority of India (FSSAI) issued a detailed notification in 2014 that proposed to allow CMC to be used as a stabilizer in Ready to Serve beverages. Apparently, the national regulator further mandated that every package of these beverages would be required to cite the quantity of CMC that is being used with other ingredients.
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Moreover, given that the polymer has found wide-spread popularity as a viscosity modifier and thickener, it is also being increasingly utilized to stabilize emulsions in ice-cream and gluten free products. Industry experts claim that such regulatory overview would certainly leave a significant influence on the overall carboxymethyl cellulose (CMC) market in the forthcoming years.
Food and beverage segment to exhibit lucrative growth opportunities for carboxymethyl cellulose (CMC) market participants
Elaborating further, it would be prudent to mention that carboxymethyl cellulose (CMC) market has been witnessing commendable traction, as the polymer is biodegradable and can be incinerated after use which makes it an environment friendly material. Apparently, this has led to CMC garnering immense popularity, of late, across a vast expanse of business verticals including pharmaceuticals, detergents & laundry, food & beverage, pulp & paper, oil & gas, and personal care. Out of all these segments, food & beverage sector has been contributing vigorously toward carboxymethyl cellulose (CMC) industry size expansion. In fact, as per reliable estimates, food & beverage segment led the overall end use domain of this business sphere in the year 2016.
Considering the diverse usability of CMC as an emulsifying and thickening agent, the material is being increasingly used in processed meat, bakery products, white wine, condiments, frozen desserts, diet foods, dairy products, soups & sauces, and salad dressings, etc. Moreover, the rising demand for food products prepared with natural ingredients has emerged as one of the pivotal factors to impel the carboxymethyl cellulose (CMC) market. Apparently, driven by the robust requirement for these materials in the processed food formulations, the food & beverage segment of carboxymethyl cellulose (CMC) industry is forecast to register a commendable CAGR of about 4% over 2017-2024, as per authentic estimates.
The latest trend emerging in the carboxymethyl cellulose (CMC) market is of prominent manufacturers including Ashland, Dai-Ichi Kogyo Seiyaku Co. Ltd, Lamberti S.P.A., J.M. Huber Corporation, Akzo Nobel B.V., and Triveni Chemicals focusing on expanding their production capabilities. The industry further anticipates strategic collaborations, mergers and acquisitions that would undeniably enhance its profitability and expand the consumer base.