The global nanocellulose market size is anticipated to showcase potential growth owing to the increasing concerns regarding the sustainability from the packaging industry, observes Fortune Business Insights™ Nanocellulose has applications in various industries including cement and composites, textile, and paper and packaging. The global nanocellulose market size was USD 291.53 million in 2019 and is projected to reach USD 1,053.09 million by 2027, exhibiting an exhilarating CAGR of 19.9% during the forecast period.

The nanocellulose market is experiencing significant growth driven by rising demand across various industries such as paper and pulp, food and beverages, pharmaceuticals, and personal care. Nanocellulose, a biodegradable and renewable material, offers excellent mechanical properties and is increasingly being recognized for its sustainability and environmental benefits.

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Drivers & Restraints:

Increasing Applications in Packaging Industry to Boost Growth

Rising concerns about the environmental impact of packaging materials are expected to drive the growth of the nanocellulose market. For example, the U.S. Environmental Protection Agency reports that packaging materials contribute to around 28.1% of total municipal solid waste in the U.S., with a large portion consisting of non-degradable plastics. The growing use of nanocellulose as a sustainable alternative in packaging is key to this trend. Additionally, the extensive application of nanocellulose in the textile industry is anticipated to further boost demand. However, the high production cost associated with nanocellulose remains a limiting factor for market growth.

Market Segmentations:

The nanocellulose market is segmented based on type, application, and region:

By Type:

• Nanocrystalline Cellulose (NCC): This segment is witnessing the highest growth due to its excellent reinforcing properties and its potential use in composites and nanomaterials.

• Nanofibrillated Cellulose (NFC): Widely used in paper and pulp, packaging, and coating applications due to its excellent mechanical and barrier properties.

• Bacterial Nanocellulose (BNC): This niche segment is gaining traction in biomedical applications, including wound dressings, tissue engineering, and drug delivery systems.

By Application:

• Paper & Pulp: Nanocellulose is used as an additive to enhance paper strength, reduce material usage, and improve recyclability. The paper industry remains the largest consumer of nanocellulose.

• Composites: Nanocellulose is used in various composite materials for automotive, aerospace, and construction industries due to its lightweight and high strength properties.

• Food & Beverages: Nanocellulose is increasingly being used as a stabilizer and emulsifier in food products, as well as for biodegradable packaging solutions.

• Pharmaceuticals & Cosmetics: The rising demand for biocompatible materials in drug delivery and cosmetic formulations is contributing to the growth of nanocellulose in this segment.

• Others: Includes electronics, textiles, paints, and coatings.

Regional Insights:

Europe led the nanocellulose market in 2019 with a value of USD 108.77 million, driven by the abundant wood supply in Eastern Europe and its strong manufacturing sectors like automobiles, textiles, and cosmetics.

Asia-Pacific, valued at USD 43.16 million in 2019, is expected to see significant growth due to the presence of key industries such as food, cement, textiles, and paper in countries like China, South Korea, and India.

Competitive Landscape-

• In April 2020, Celluforce announced that Celluforce NCC, a gelling agent produced by the company, is suitable for the manufacturing of hydro-alcoholic gels, thereby replacing the traditionally used acrylates and carbomers. This makes the agent suitable in making gel-based sanitizers while providing an invisible layer of cellulose on hands for protecting damaged skin.

Key Players:

Key players operating in the nanocellulose market includes Fiberlean Technologies (UK), Kruger, Inc. (Canada), Borregard (Norway), Nippon Paper Group (Japan) , Celluforce (Canada), Stora Enso (Finland), Norske Skog ASA (Norway), The University of Maine (U.S.), Research Institutes of Sweden (RISE) (Sweden), GranBio (Brazil), CelluComp (UK), Other Key Players.

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