Sellbyville, DE -- (SBWIRE) -- 11/06/2018 -- GMI presents a most up-to-date research on "Nanocellulose Market – Global Industry Analysis, Size, Share, Products (Nanofibrillated Cellulose, Nanocrystalline Cellulose, Bacterial Nanocellulose), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait) and Forecast 2017 – 2024".

Nanocellulose Market size will likely surpass USD 1 billion by 2024; according to a new research report by Global Market Insights, Inc. Nanocellulose industry is driven by its applications in the food & beverage packaging materials, due to its exceptional characteristics which help prevent the food content spoilage and blocks the oxygen entry in it. Moreover, the product is used to substitute polystyrene-based foams and also helps improving the shelf life, thus improving the overall food quality.

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An innovative packaging technology well known as "active packaging" integrates the usage of these nanocellulose in packaging materials which aid to regulate the food bacterial external contamination. This technology is fascinating a huge attention in the food packaging industry due to the rising buyer demands for preservative-free and minimum processed eatables. Furthermore, the nanocellulose market will further be augmented by the integration of nanomaterials in food packaging. This will lead to a reduction in food waste as it preserves the freshness of packed food.

Another driving factor for nanocellulose market is the Asia Pacific region which has a vast growing population with enormous rising income levels of consumers. Increasing number of developing countries in this region, coupled with exponential growth rates will spur the personal care and cosmetics industry in Asia Pacific. People living in the developing countries of this region have started to improve their lifestyles and standard of living due to the growth in the corporate culture. This has led to increasing awareness of personal grooming and hygiene. Rising use of cosmetic products, fragrances, and other personal care products will propel the cosmetic and personal care industry, eventually boosting the market in future.

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In the nanocellulose market, nanofibrillated cellulose segment is said to gain the highest share of over USD 540 million by 2024 owing to its superior properties. Bacterial nanocellulose will grow at a highest CAGR of over 40% to capture a market share close to USD 27 million by 2024.

The composites segment is said to gain market share slightly lesser than 40% by the end of the forecast spell wing to its huge applications. In terms of revenue, the food and beverage segment is said to surpass USD 90 million by 2024 in the overall nanocellulose market. In terms of revenue, oil & gas segment is said to grow at a highest CAGR in the future years.

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Some of the major players in the nanocellulose market include Melodea Ltd., Nippon Paper Group, Kruger, Daicel FineChem, Innventia, Sappi, American Process Inc., Asahi Kasei Corporation, Stora Enso, CelluComp Ltd., and others.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.