Regionally, carboxymethyl cellulose market is deemed to witness an exceptional prominence in Asia Pacific. The food and beverage sector, in this belt, has indeed, proliferated at a rapid pace over the past decade. India and China have emerged to be two of the lucrative regions for CMC market investment. In fact, having recognized the potential opportunities, some of the leading companies have been taking substantial moves to call their bets on emerging economies, which by extension is fueling the regional carboxymethyl cellulose market share.
Say for instance, Cargill, one of the leading food service providers, has recently made it to the front page with its huge investment of USD 240 million in India food processing industry. Few months prior to this, Symrise, Germany based flavors & fragrance producer has inaugurated an innovation center in Singapore with an aim to reinforce its stance in APAC food and nutrition market. With more number of hefty investments in the regional food space, the growth scope of carboxymethyl cellulose market is certain to widen over the recent years. Reportedly, APAC carboxymethyl cellulose market procured almost 40% of the global share in 2016.
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The profitability quotient of carboxymethyl cellulose market is forecast to witness a dynamic shift over the ensuing years, with food and beverage sector playing a pivotal role in the changing scenario. The product serves a plethora of roles in processed food formulations – as a thickener, viscosity modifier, and stabilizer.
With the changing global trend toward fat-free, ready to eat foods, commercialization scale of carboxymethyl cellulose industry has indeed witnessed an appreciable ascent over the recent years. Testament of the fact is the maximum share held by food and beverage applications in the market in 2016. If reports are to be relied, this particular business vertical is forecast to witness a y-o-y growth of 4% over 2017-2024.
It is important to mention here that the growing obese populace has much to contribute in the overall industry share, given the paradigm shift this demography has brought in consumer food patterns. According to WHO’s latest report, worldwide obesity rate has approximately become three-fold since 1975.
It has also been speculated that almost 1.9 billion adults across the globe were found overweight in 2016, out of which nearly 650 million were marred obese. In the same year, approximately 41 million children within the age group of 0 to <5 years were diagnosed with obesity. The astoundingly mammoth prevalence is undoubtedly prompting food manufacturers to incorporate CMC in food processing on grounds of its exceptional water retention, fat replacement, and absorption properties.
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Pertaining to its extensive health benefits, various regulatory organizations are also promoting utilization of CMC as a stabilizer in food & beverage sector. Say for instance, Food Safety and Standards Authority of India (FSSAI), few years back, issued a notification that dealt with changes in Food Safety and Standard norms for labelling carboxymethyl cellulose.
As per revised regulation, every new packet of ready to eat beverages having CMC as an ingredient would now need to mention the amount of carboxymethyl cellulose being utilized in the content. As per experts’ opinion, such regulatory oversight is bound to leaven impactful influence in carboxymethyl cellulose market trends.
As far as the competitive spectrum is concerned, the overall business space is witnessing a proactive participation of renowned biggies like Ashland, USK Kimya A.S., Nippon Paper Industries, Patel Industries, Daicel Corporation, and Qingdao Tianya Chemical Co. Ltd.
It is prudent to take a note here that these giants on ground of their already established brand names, experience a strong foothold in the carboxymethyl cellulose market, which in turn is blocking the way for new entrants. Amidst the dynamically charged share battle among the giants, production capacity enhancement remains the pivotal parameter defining the sustainability and profitability quotients of this fraternity.
Browse key industry insights spread across 298 pages with 302 market data tables & 25 figures & charts from the report, “Carboxymethyl Cellulose (CMC) Market” in detail along with the table of contents: