by The global Glucose Excipient Market is estimated to be valued at US$ 1,058.2 million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The global Glucose Excipient Market is witnessing significant growth due to the increasing demand in various industries such as pharmaceuticals, food and beverages, and chemicals. Glucose excipients are widely used as sweeteners, binders, fillers, and preservatives in the production of various pharmaceutical products. The growing pharmaceutical industry, driven by factors such as population growth, aging population, and advancements in drug delivery systems, is expected to propel the market growth.
However, stringent regulations related to the manufacturing and use of glucose excipients and the high cost associated with their production are some of the major obstacles in the market. Manufacturers are focusing on developing innovative production techniques to overcome these challenges and meet the growing demand for glucose excipients.
Market Key Trends:
One key trend in the Glucose Excipient Market is the increasing popularity of natural and organic excipients. With the rising demand for clean label and natural products, pharmaceutical and food industries are increasingly using natural excipients, including glucose derived from natural sources such as fruits and vegetables. For example, Roquette Frères offers a range of glucose excipients derived from corn and other natural sources.
This trend is driven by consumers’ increasing demand for clean label products and a shift towards healthier alternatives in pharmaceutical and food products. Natural and organic excipients offer benefits such as enhanced stability, improved solubility, and reduced side effects. Manufacturers are capitalizing on this trend by expanding their product portfolios with natural and organic offerings.
Segment Analysis:
The Glucose Excipient Market Scope is segmented based on the application of glucose in various industries. The pharmaceutical segment dominates the market, accounting for the largest market share. Glucose excipients are extensively used in the pharmaceutical industry as sweeteners, solvents, binders, and fillers in tablet formulations, syrups, and injections.
The pharmaceutical industry’s increasing investment in research and development activities and the growing demand for innovative drug formulations are driving the dominance of this segment. Glucose excipients offer advantages such as improved drug stability, enhanced drug release, and ease of formulation. As a result, the pharmaceutical segment is expected to continue its dominance in the market during the forecast period.
Key Takeaways:
– The global Glucose Excipient Market is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing demand from the pharmaceutical industry.
– The Asia-Pacific region is projected to be the fastest-growing and dominating region in the market. This can be attributed to factors such as a large population base, rising disposable income, and increasing healthcare expenditures in countries like China and India.
– Key players operating in the global Glucose Excipient Market include Roquette Frères, Cargill, Incorporated, Ingredion Incorporated, Archer Daniels Midland Company, Grain Processing Corporation, Merck KGaA, DFE Pharma, Hilmar Ingredients, Karo Syrup, Gulshan Polyols Ltd., Tereos Group, Tate & Lyle PLC, Suzhou Hope Technology Co., Ltd., The Honjo Chemical Corporation, and MAFCO Worldwide LLC.
These key players are focusing on product development, strategic collaborations, and mergers and acquisitions to expand their market presence and cater to the growing demand for glucose excipients.
In conclusion, the global Glucose Excipient Market is witnessing significant growth driven by factors such as the increasing demand from the pharmaceutical industry and the rising popularity of natural and organic excipients. Despite challenges such as stringent regulations and high production costs, manufacturers are striving to meet the growing demand for glucose excipients and capitalize on the market opportunities.
