Global Glucose Excipient Market Is Estimated To Witness High Growth Owing To Increasing Demand from Pharmaceutical and Food Industries
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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Glucose excipients are widely used in the pharmaceutical and food industries as a filler or binder in tablets and capsules and as a sweetener or moisture-retaining agent in food products. The increasing demand for pharmaceutical and food products, coupled with the growing need for safe and effective excipients, is expected to drive the growth of the glucose excipient market. The versatility and compatibility of glucose excipients with various active pharmaceutical ingredients (APIs) and food ingredients make them a preferred choice among manufacturers. Moreover, glucose excipients offer enhanced stability and improved bioavailability of drugs, which further boosts their adoption in the pharmaceutical industry.
Market Dynamics:
1. Driver: Increasing Demand from the Pharmaceutical Industry
The pharmaceutical industry is experiencing rapid growth globally, driven by factors such as an aging population, increasing prevalence of chronic diseases, and advancements in drug development. Glucose excipients play a crucial role in the manufacturing of tablets and capsules by providing the necessary binding and disintegration properties. Additionally, glucose excipients act as bulking agents to facilitate the production of smaller-sized tablets or capsules, thereby improving patient compliance. With the rising demand for pharmaceutical products, the demand for glucose excipients is expected to witness significant growth.
2. Driver: Growing Demand from the Food Industry
The food industry is witnessing a surge in demand for natural and healthy food products. Glucose excipients are used as sweeteners, humectants, and stabilizers in a variety of food products such as confectioneries, beverages, bakery items, and dairy products. Glucose excipients not only enhance the taste and texture of food products but also help in extending their shelf life. Moreover, the increasing consumer preference for clean label and organic food products is expected to drive the demand for glucose excipients in the food industry.
SWOT Analysis:
Strengths:
1. Versatility and compatibility with various active pharmaceutical and food ingredients.
2. Enhanced stability and improved bioavailability of drugs.
Weaknesses:
1. Availability of alternative excipients in the market.
2. Competitiveness among manufacturers leading to pricing pressures.
Opportunities:
1. Increasing research and development activities for the development of innovative and multifunctional glucose excipients.
2. Growing adoption of glucose excipients in novel drug delivery systems and personalized medicine.
Threats:
1. Stringent regulatory requirements for excipient approval.
2. Fluctuating prices of raw materials.
Key Takeaways:
The global Glucose Excipient Market Scope is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing demand from the pharmaceutical and food industries. The pharmaceutical industry, driven by factors such as an aging population and increasing prevalence of chronic diseases, is expected to be the key driver of market growth. The Asia Pacific region is expected to be the fastest-growing and dominating region, owing to the presence of a large consumer base and a thriving pharmaceutical industry. Key players operating in the global glucose excipient market include Roquette Frères, Cargill, Incorporated, Ingredion Incorporated, Archer Daniels Midland Company, and Grain Processing Corporation, among others. These players focus on expanding their product portfolios and investing in research and development activities to cater to the growing demand for glucose excipients.
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