Powdered Cellulose Industry Analysis in Korea

A Complete Study of Powdered Cellulose in Korea from 2023 to 2033

According to our industry analysis, the total sales of powdered cellulose in Korea is set to garner a revenue of around USD 9.10 million in 2023. The demand for powdered cellulose in Korea is expected to rise at 11% CAGR over the next ten years, concluding at USD 25.84 million by 2033.

Attributes	Details
Industry Size of Korea in 2023	USD 9.10 million
Expected Industry Size of Korea by 2033	USD 25.84 million
Forecasted CAGR between 2023 to 2033	11.0%

Key Insights on the Powdered Cellulose Sector of Korea

• With a 9.6% CAGR between 2018 and 2022, the demand for powdered cellulose in Korea reached USD 8.24 million in 2022.
• Uses of powdered cellulose as a dietary fiber for weight loss, intestinal health, and better digestion is becoming more recognized in Korea.
• Powdered cellulose has become a useful ingredient in Korea for many food items, such as dairy, processed meals, and baked goods.

Key Trends Influencing the Demand for Powdered Cellulose in Korea

• Powdered cellulose is becoming popular in Korea as a functional food with high nutrients but low calories at the same time. It is also now a popular choice among customers and food producers who want to make products with lower calorie counts without affecting the taste and quality of the product.
• Packaged food producers can appeal to health-conscious consumers in Korea by incorporating powdered cellulose into their food formulations, offering nutritious ingredients. The increased use of powdered cellulose as a texturizing ingredient for meat analogs, improving mouthfeel and structure, has also driven its demand in recent years.
• The application of powdered cellulose in the pharmaceutical sectors of Korea is also rising as it is inherently gluten-free as well as allergen-free. So, the noteworthy expansion of pharmaceutical industries in Korea is poised to boost the demand for powdered cellulose throughout the forecast years.

Category-wise insights

Powdered Cellulose in the Food Grade Segment is Performing Better in Korea

The food-grade segment is anticipated to capture around 34.5% of total powdered cellulose sales in Korea in 2023.

Powdered Cellulose in Korea based on Grade Type	Food Grade
Total Share (2023)	34.5%

Food-grade cellulose is a highly useful ingredient in the food manufacturing industry for improving the texture, moisture retention, and shelf life of prepared food items. Therefore, this segment is projected to expand further to satisfy the growing need for adaptable ingredients, given the surging food industry in the country.

Soft or Hard Wood Pulp Provides for Higher Production of Powdered Cellulose

Soft or hardwood pulps, being more readily available, contribute to a significant portion of powdered cellulose production in Korea, expected to capture around 34.2% in 2023.

Powdered Cellulose in Korea based on Source Type	Soft and Hard Wood Pulp
Total Share (2023)	34.2%

Soft and hardwood pulp, the sources of powdered cellulose, are frequently byproducts of the agricultural sector, making them the cheaper source segment. Also, utilizing these sustainable and renewable resources aligns with the growing trends of ecologically favorable and responsible consumerism.

Competitive Landscape

The overall competitive landscape for powdered cellulose manufacturers and sellers in Korea is relatively less competitive than in other parts of the world. Some long-established industries capture a sizable share of the total powdered cellulose demand in the country. As Korean citizens are looking for packaged food products with fewer ingredients and clear labels, powdered cellulose suppliers in the country are adopting this trend more.

Recent Developments in the Powdered Cellulose Industry in Korea

• Global fiber maker Lenzing and Hyosung Advanced Materials of Korea partnered in September 2020 to create a sustainable line of performance textiles using their fibers and yarns. This new product line, under the brand name 'Home Everywhere,' was released during the pandemic period to provide consumers with cozy, eco-friendly, and stylish sportswear and loungewear. Three fabric concept groups make up this collection, combining a range of distinctive blends of multipurpose spandex, polyester, and nylon fibers from Hyosung with the cellulose fibers from Lenzing.
• In October 2023, Lotte Chemical Corporation held ‘CEO IR Day’ to declare plans in response to the quick changes in the petrochemical industry's fundamentals in Korea and the world. LOTTE Fine Chemicals aims to establish itself as a "global top 10 specialty company" by 2030, by enhancing high-value specialty materials in its chemical manufacturing industries. It also revealed its plans to increase its cellulose production capacity to become the world leader in the green materials sector.

Key Players Offering Powdered Cellulose in Korea

• Borregaard Korea Co., Ltd.
• Daesun Specialty Chemicals Co., Ltd.
• Dongwha Chemical Co., Ltd.
• Hanwha Total Chemicals Co., Ltd.
• Hyosung Advanced Materials Co., Ltd.
• Keongdeung Industrial Co., Ltd.
• Kolon Industries, Inc.
• LG Chem, Ltd.
• Lotte Chemical Corp.
• Namyang Fine Chemical Co., Ltd.
• OCI Chemical Corp.
• POSCO Chemical Co., Ltd.
• Samsung SDI Co., Ltd.
• Ssangyong Chemicals Co., Ltd.
• SK Chemicals Co., Ltd.
• DKS Co., Ltd.

Scope of the Report

Attribute	Details
Estimated Industry Size in 2023	USD 9.10 million
Projected Industry Size by 2033	USD 25.84 million
Anticipated CAGR between 2023 to 2033	11.0% CAGR
Historical Analysis of Demand for Powdered Cellulose in Korea	2018 to 2022
Demand Forecast for Powdered Cellulose in Korea	2023 to 2033
Report Coverage	Industry Size, Industry Trends, Analysis of key factors influencing the adoption of Powdered Cellulose in Korea, Insights on Global Players and their Industry Strategy in Korea , Ecosystem Analysis of Local and Korea Providers
Key Companies Profiled	Borregaard Korea Co., Ltd.; Daesun Specialty Chemicals Co., Ltd.; Dongwha Chemical Co., Ltd.; Hanwha Total Chemicals Co., Ltd.; Hyosung Advanced Materials Co., Ltd.; Keongdeung Industrial Co., Ltd.; Kolon Industries, Inc.; LG Chem, Ltd.; Lotte Chemical Corp.; Namyang Fine Chemical Co., Ltd.; OCI Chemical Corp.; POSCO Chemical Co., Ltd.; Samsung SDI Co., Ltd.; Ssangyong Chemicals Co., Ltd.; SK Chemicals Co., Ltd.; DKS Co., Ltd.
Key Provinces Analyzed while Studying Opportunities in Powdered Cellulose in Korea	South Gyeongsang; North Jeolla; South Jeolla; Jeju

Key Segments Covered in Korea Powdered Cellulose Industry Survey

By Grade Type:

• Food
• Pharmaceutical
• Industrial
• Other Grades

By Functionality Type:

• Thickener
• Stabilizer
• Emulsifier
• Gelling
• Coating Agent
• Other Functionalities

By Source Type:

• Soft and Hard Wood Pulp
• Cotton Linter Pulp
• Bamboo
• Wheat Straw Pulp
• Other Sources

By End Use Application:

• Food & Beverage Industry
  • Bakery & Confectionery
  • Meat & Poultry Product
  • Sauces & Dressings
  • Beverages
  • Processed Food
  • Dairy Products
  • Others
• Pharmaceuticals Industry
• Cosmetics Industry
• Construction Industry
• Chemical Industry
• Leather Industry
• Textile Industry
• Paper Industry
• Other End Use Applications

By Key City/Province:

• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju

Frequently Asked Questions

At what Rate is the Powdered Cellulose Adoption is growing in Korea?

The anticipated CAGR for powdered cellulose in Korea through 2033 is 11.0%.

How big will the Powdered Cellulose Business in Korea?

Powdered cellulose business revenue in Korea is likely to be around USD 25.84 million by 2033.

What is the Key Strategy for Powdered Cellulose Companies in Korea?

Powdered cellulose suppliers are targeting pharmaceutical sector to boost sales.

Which is the Leading Powdered Cellulose Grade Type in Korea?

Food Grade powdered cellulose accounts for 34.5% revenue share in Korea in 2023.

Which Source of Powdered Cellulose has Higher Production in Korea?

Soft and hard wood pulp currently provides for 34.2% of total production in Korea.