Selbyville, Delaware, Sept. 07, 2021 (GLOBE NEWSWIRE) -- As per the latest report published by Global Market Insights Inc., the Cyclodextrin Market was estimated at $260 million in 2020 and is slated to exceed $390 million by 2027, registering a CAGR of 5.5% from 2021 to 2027. The research report offers a detailed analysis of market size & estimations, drivers & opportunities, wavering market trends, major investment pockets, competitive scenarios, and top winning strategies.
Cyclodextrins are sugar molecules made from starch, which have a hydrophilic outer shell and a lipophilic cavity. Cyclodextrin also has anti-aging properties and thus, witnesses high demand among cosmetics manufacturers. It is widely utilized for producing cosmetics & personal care products like creams, face masks, and lotions, among others, which is anticipated to support market growth over the forthcoming years. Meanwhile, the growing popularity of dietary supplements across the world to bolster overall immunity is expected to further propel market growth in the upcoming years.
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Gamma cyclodextrin is used in several medicines as a pharmaceutical excipient. As a result, prevalent product application in the pharmaceutical sector is set to impel the growth of the gamma type segment in the future. The cyclodextrin market from the gamma type segment is projected to attain a valuation of more than USD 155 million by the end of 2027.
Key reasons for cyclodextrin market growth:
- Increasing usage in cosmetic & personal care products.
- Prevalent adoption in the food & beverage sector.
- Rising consumer preference for dietary supplements.
- Mounting demand in the pharmaceutical industry.
2027 forecasts show the ‘food & beverage’ segment retaining its dominance:
With respect to application, the food & beverage segment is anticipated to grow at a CAGR of over 5.5% through the forecast period. Cyclodextrins possess low immunogenicity and toxicity, which makes them compatible with food products. They also enhance the sensorial qualities of food products and improve the final product’s appeal, which has escalated the popularity of cyclodextrin among food & beverage manufacturers. Additionally, they prevent contamination, thereby considerably increasing the shelf life of final products. Thus, prominent demand for fortified foods due to mounting health concerns, coupled with rising incidences of illnesses, is likely to accelerate segmental growth through the analysis period.
Europe to continue its top status in terms of revenue
The Europe cyclodextrin market is foreseen to observe substantial growth by 2027, progressing at around 5.5% CAGR through the forecast timeframe. Consumers are increasingly adopting healthy diets and eating habits for improving their immune systems and bolstering overall health. Subsequently, escalating need for functional and fortified food & beverage products, along with extensive usage of cyclodextrin as a food additive and an excipient, is speculated to foster regional market outlook over the following years.
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Impact of COVID-19 pandemic on cyclodextrin market:
The COVID-19 outbreak expedited research efforts to identify effective therapeutic methods to battle the novel coronavirus. For instance, Gilead Sciences, Inc., the American biotech giant, discovered and developed Remdesivir (GS-5734), a promising antiviral agent for the treatment of the COVID-19 infection marketed as ‘Veklury’. Remdesivir consists of the excipient sulfobutylether-beta-cyclodextrin (SBECD), which has proliferated market demand recently. Furthermore, studies also suggested that the use of mouthwash containing ß-cyclodextrin (beta-cyclodextrin) and citrox could help reduce the dissemination of SARS-CoV-2, the COVID-causing virus, which has also stimulated product adoption during the pandemic.
Leading market players:
Major companies in the cyclodextrin industry include Cyclolab, Merck KGaA, Shandong Xinda Biotechnology Co., Ltd., Zhonglan Industry Co., Ltd., Wacker Chemie AG, Roquette Frères, Ottokemi, Central Drug House, Zibo Qianhui Biological Technology Co., Ltd., and Salvavidas Pharmaceutical Pvt. Ltd., among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
