The global nanocellulose market is anticipated to grow at a significant CAGR of 19.5% during the forecast period. The nanocellulose market is driven by the increased interest of companies in CNF due to its strong and lightweight properties. CNF is produced by taking out cellulose such as wood fiber and separating it to form a fine nanosized fiber. Market players are inclined toward the commercialization of CNF, which is expected to bolster market growth. For instance, in June 2021, Yokogawa Bio Frontier Inc. commenced the sale of 100% plant-derived sulfated cellulose nanofiber (S-CNF). Initially, the company offered samples to potential customers and finally scaled up production for commercial sale of S-CNF material to customers majorly in the chemical and material industry. 

The COVID-19 pandemic has impacted almost every country on the globe. During the past years, the nanocellulose market has grown at a rapid pace due to researchers and firms working to design new applications for these materials. COVID-19 has impacted the nanocellulose demand specific to the pulp and paper industry. The demand for papers declined, as the consumers were restricted to touch the articles such as magazines and newspapers the consumption of noncellular also decreased. Though the demand for nanocellulose decreased in papers, firms started making PPE such as masks and gowns out of pulp which resulted in the rise in demand for nanocellulose. Owing to its application in various industries the market is expected to grow post-COVID-19. 

Segmental Outlook 

The global nanocellulose market is segmented based on the types and applications. Based on the types, the market is sub-segmented into CNC, CNF, MFC, NFC, and BNC. Based on the application, the market is sub-segmented into pulp & paper, healthcare, electronics, oil & gas, packaging, and others (cosmetics, food & beverages). The above-mentioned segments can be customized as per the requirements. Among the types, the CNF sub-segment is expected to hold a significant share in the nanocellulose market due to the increased use of CNF in the manufacturing of textile and filter materials. 

The CNF is Expected to Hold a Prominent Share in the Global Nanocellulose Market

The CNF is a material that has various applications such as filter material, high gas barrier packaging material, electronic devices, food & beverage, cosmetics, and healthcare due to its physical properties. Owing to the increasing health concerns the demand for CNF has increased in the manufacturing of food products. Further, plastic packaging preserves food and vegetables from damage but it also creates a significant extent of waste. In such cases, CNF works as an alternative, as commercial producers already use reused lignocellulosic sources such as tissue for CNF creation. Additionally, Swiss Federal Laboratories for Materials Science and Technology, Dubendorf, Switzerland, and colleagues prepared superior quality CNFs from carrot pomace for usage as a spray covering for food packing applications. Pomace is a hard filtrate produced once the juice is dug out from fruits, vegetables, or plants. Due to its ability to protect fruits and vegetables with no wastage, the market for nanocellulose is expected to grow. 

Regional Outlooks

The global nanocellulose market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Europe is anticipated to hold a significant share in the global nanocellulose market owing to an increase in demand for automotive production and lightweight passenger cars.

Global Nanocellulose  Market Growth, by Region 2022-2028

The Asia-Pacific Region is Anticipated to Grow at the Fastest CAGR over the Forecast Period

Among the regions, the Asia-Pacific is anticipated to grow at a remarkable pace over the forecast period. The growth is attributed due to the rising demand for composites and packaging material. The demand for nanocellulose is expected to increase in countries such as India, China, Japan, Vietnam, and South Korea caused owing to the continuously rising demand for lightweight components in the automobile industry. For instance, the nano cellulose vehicle project was launched at Kyoto University in Japan in 2016. The project aimed to utilize CNF material and reduce the weight by 10% in automobiles by 2020. Due to this, the market is the fastest growing in the Asia-Pacific region. 

Market Players Outlook

The major companies serving the global nanocellulose market include American Process International LLC, anomera.ca, ASAHI KASEI CORP., Blue Goose Biorefineries Inc., Borregaard AS, CelluComp Ltd., CelluForce, and FiberLean Technologies Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2020, CelluForce signed a commercial agreement for 10 years to generate multi-million dollar sales with a multinational company in the cosmetics sector. Under the contract, the international customer is approved for global exclusiveness for the commercialization of CNC-based cosmetic products. CNC in cosmetic applications is environment friendly due to which it is used in various hydroalcoholic gel production as a biodegradable gelling agent which can result in increased demand for CNC.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global nanocellulose market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.