The global nanocellulose market size was valued at USD 351.5 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 20.1% from 2023 to 2030.
The growth is attributable to the rise in demand for various applications and the shifting trend for using bio-based goods are the factors responsible to drive demand for product. Due to its various qualities, such as increased paper machine efficiency, better filler content, lighter base mass, and higher freeness, nanocellulose is suitable for the producing a wide range of products. The paper industry uses nanocellulose as a prominent sustainable nanomaterial additive owing to its high strength, strong oxygen barrier performance, low density, mechanical qualities, and biocompatibility among the available bio-based resources. Additionally, the construction of materials, aqueous coating, and others are some of the major uses of nanocellulose composite materials.
The U.S. is the largest market for nanocellulose in North America contributing a considerable amount to global revenue. People in the U.S. are concerned about their health, which has greatly aided the use of MFC (Micro fibrillated Cellulose) and CNF (Cellulose nanofibers) in the production of functional food products thus increasing the demand for nanocellulose in the country.
Gather more insights about the market drivers, restrains and growth of the Nanocellulose Market
Nanocellulose Market Report Highlights
• The growth is attributed majorly due to the shifting trend towards sustainable packaging materials over synthetic materials
• Europe dominated the global market in 2022 with a revenue share of 35%. This is attributed to increased industrialization and awareness of the usage of lighter and stronger packaging materials, derived from biodegradable sources, as well as technological advancements in this region
• Cellulose Nanofibers (NFC, MFC) type segment dominated the market in 2022 contributing 50% to the global revenue. This is because when compared to other fibers, CNF is the most flexible, longest, and has the largest surface area
• Pulp & paperboard application segment was the largest application segment in terms of revenue as it contributed 25% to the global revenue share. This is attributable to the high demand for alternate environment-friendly and durable packaging material.
• The market is consolidated with the presence of a few players globally. Companies are investing in R&D to develop innovative products in-lined with the stringent environmental norms
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• The global biotech ingredients market size was valued at USD 2.17 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2030.
• The global cellulose fiber market size was valued at USD 40.22 billion in 2023 and is projected to grow at a CAGR of 6.1% from 2024 to 2030.
Nanocellulose Market Segmentation
Grand View Research has segmented the global nanocellulose market report based on type, application, and region:
Nanocellulose Type Outlook (Revenue, USD Million; Volume, Tons; 2018 - 2030)
• CNF (NFC, MFC)
• Bacterial Cellulose
• CNC
Nanocellulose Application Outlook (Revenue, USD Million; Volume, Tons; 2018 - 2030)
• Pulp & Paperboard
• Composites
• Pharmaceuticals & Biomedical
• Electronics
• Food & Beverages
• Others (Textile, Paints, cosmetics, Oil & Gas, Cement)
Nanocellulose Regional Outlook (Revenue, USD Million; Volume, Tons; 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o Netherlands
o France
o Finland
o Norway
o Sweden
o Switzerland
o Spain
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o Thailand
o Malaysia
o Singapore
• Central & South America
o Brazil
o Colombia
o Chile
• Middle East & Africa
o Saudi Arabia
o South Africa
o Israel
o Iran
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