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.
Get a Free Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/nanocellulose-market-104565
What factors are driving the growth of the nanocellulose market?
The increasing adoption of nanocellulose in the packaging industry is a key driver. Rising concerns over environmental sustainability, especially the high contribution of non-degradable plastics to municipal solid waste (28.1% in the U.S.), are pushing manufacturers to explore eco-friendly alternatives like nanocellulose. Additionally, expanding applications in the textile industry are further boosting demand.
What challenges is the nanocellulose market facing?
High production costs remain a significant restraint, limiting widespread adoption despite its advantages in sustainability and performance.
How is the nanocellulose market segmented by type?
What are the key applications of nanocellulose?