NEWARK, Del, March 22, 2023 (GLOBE NEWSWIRE) -- As of 2033, the global market for sugar-based excipients is expected valued at US$ 1707.46 million, growing at a CAGR of 4.8%. In 2023, the market was valued at US$ 1068.41 million. This rise in market value is due primarily to the increased use of combination-processed excipients.
It is anticipated that the rapid growth of the global generics market due to the patent expiration of several blockbuster drugs, as well as the increasing development of orally disintegrating tablets (ODTs) will propel the growth of this market. Co-processed excipients are used to enhance the dissolution, bioavailability, and solubility of recently developed active pharmaceutical ingredients (APIs).
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A growing market for orally disintegrating tablets is booming as their popularity and development grow. Unlike traditional tablets, orally disintegrating tablets dissolve on the tongue instead of being swallowed whole. As the number of elderly and pediatric patients increases, so does the need for orally disintegrating tablets.
“Increasing utilization of co-processed excipients, patent cliffs for sugar excipients, and advancements in orally disintegrating tablets (ODTS) are factors driving sugar-based excipients market growth.” says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
- The sugar-based excipients market is expected to grow at a CAGR of 4.8% over the forecast period.
- According to estimates, the sugar-based excipients market in North America will remain strong throughout the length of the forecast period.
- In terms of type, the powder segment accounts for a significant share of the market since it is widely used in pharmaceutical applications.
- The actual sugar segment is projected to reach a revenue share of US$ 750.5 million by 2033 and is expected to expand at a CAGR of 4.4%.
- The U.S. sugar-based excipients market is expected to record a CAGR of 3.5% during the forecast period.
- China’s sugar-based excipients market is projected to reach revenues of US$ 258.5 million by 2033. This is expected to deliver the fastest CAGR of 6.7%.
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Competitive Landscape:
Several prominent companies dominate this market, including Ashland Inc., Associated British Foods Plc, BASF SE, Colorcon, Inc., Cargill, Inc., DFE Pharma, FMC Corporation, MEGGLE AG, Roquette Group, and The Lubrizol Corporation and others.
Excipient companies engage in a variety of key activities, including product launches, expansions, and distribution network expansions, as well as establishing global footprints through subsidiaries and partnerships.
Using these activities, manufacturers can gain a larger share of the market, expand their product portfolios, and expand their reach to different regions. They can also gain access to new markets and advanced technologies through partnerships with other companies. Major players also acquire companies, merge, and diversify their portfolios.
Recent Developments:
- In September 2022, Roquette acquired Crest Cellulose, an Indian company that manufactures pharmaceutical and nutraceutical excipients. By acquiring Crest Cellulose, Roquette is gaining access to a larger market and expanding its portfolio of excipients. This acquisition gives Roquette a more comprehensive range of excipients and allows Roquette to gain more market share in India.
- In July 2022, DFE Pharma introduced Lactohale 400, a lactose-free, non-GMO, plant-based excipient that can be used in tablets, capsules, and granules. It is a lactose-free, non-GMO, plant-based excipient. To meet the increasing demand for natural, sustainable excipients in the nutraceutical and pharmaceutical industries, the product was developed.
- The Roquette Group (France) has developed a wide range of sugar-based excipients that are proven to work in the industry. In Lestrem, France, the Roquette Group opened a pharmaceutical application development center. With this upgraded facility, the company was able to develop excipients and active ingredients more effectively.
For the growing demand for excipient products as well as services in Shanghai, China, DFE Pharma (Germany) opened a new sales office.
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Sugar-based Excipients by Category
By Product, the Sugar-based Excipients Market is Segmented as:
- Actual Sugar
- Sugar alcohols
- Artificial sweeteners
By Type, the Sugar-based Excipients Market is Segmented as:
- Powders
- Direct Compression Sugars
- Crystals
- Syrups
- Others
By Functionality, the Sugar-based Excipients Market is Segmented as:
- Fillers and Diluents
- Flavoring Agents
- Tonicity Agents
- Others
By Formulation, Sugar-based Excipients are segmented as:
- Oral
- Parenteral
- Topical
- Others
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Table of Content
1. Executive Summary | Sugar-based Excipients Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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About Future Market Insights, Inc.
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