Global Nanocellulose Market
As stated in our extensive report; the Global Nanocellulose Market accounted for USD 319.5 Million in the year 2021.
The worldwide food and beverage industry’s steady growth has increased the demand for efficient packaging solutions. A growing number of food and beverage packaging materials are using Nanocellulose because of its eco-friendly qualities. The substance has anti-microbial qualities and is biodegradable, non-toxic, easily disposed of, flexible, and translucent. Because of this, packaging made of Nanocellulose is highly recommended for the food and beverage industry. It is anticipated that the developing Asia-Pacific personal care market will further boost product demand in the upcoming years. In addition, rising socioeconomic circumstances have led to higher consumer expenditure in a few additional nations, India, Malaysia, South Korea, Thailand, and Indonesia.
Key factors influencing Nanocellulose Market Growth
The growth of the global Nanocellulose market can be attributable to the following:
- The lightweight packaging sector is experiencing a rise in demand for biodegradable packaging, and Nanocellulose is a renewable and affordable material that can meet that demand. In addition, the packaging industry is increasingly demanding it due to its strength and stretchability.
- The food and beverage sector has been expanding quickly, which helps the Nanocellulose sector grow even faster.
- The development of the Nanocellulose sector is anticipated to pick up speed in the future due to rising government requirements for sustainable development and increased public awareness of biodegradability.
- Stronger attributes of the paper made with Nanocellulose, such as improved printing quality, less transparency, and reduced porosity, along with lower manufacturing costs, are driving up demand for Nanocellulose in the paper and pulp business.
- Since the COVID-19 pandemic broke out, Nanocellulose has seen increased demand from the biomedical and pharmaceutical industries, fueling the market’s growth.
North America Region to Lead the Market
North America Nanocellulose market is getting higher with maximum market share in the forecast period. The expansion of the regional market is linked to the North American region’s expanding commercial building industry and renovation activities. It is also anticipated that the quickly growing food and beverage, cosmetics, and paints and coatings industries will further fuel the expansion of the Nanocellulose market in the North American region.
The entire Nanocellulose market will be positively impacted by the strong demand for sustainable products with improved material science and private and government support for Nanocellulose research in developed nations.
Some of the key players in the Global Nanocellulose Market include- Cellu Force (Canada), Fiber Lean (Germany), Nippon Paper Industries Co. Ltd. (Japan), Kruger Inc. (Canada), Borregaard AS (Norway), CelluComp (UK), Melodea Ltd. (Israel) and others.