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:
Glucose excipients are widely used in the pharmaceutical industry as an inactive ingredient in various formulations. They serve as a source of energy and have excellent compressibility and binding properties, making them suitable for tablet manufacturing. Glucose excipients find applications in oral solid dosage forms, liquid formulations, and parenteral formulations. They are also used in the food and beverage industry as a sweetening agent and a source of carbohydrates.
Market Dynamics:
1. Increasing demand from the pharmaceutical industry: The pharmaceutical industry is witnessing significant growth, driven by factors such as the increasing prevalence of chronic diseases, aging population, and advancements in drug formulations. Glucose excipients are extensively used in pharmaceutical formulations as fillers, binders, and disintegrants, thereby driving the demand in the market.
2. Growing focus on clean-label products: Consumers are increasingly demanding clean-label products, which are free from artificial additives and preservatives. Glucose excipients are natural and non-toxic, making them a preferred choice for clean-label formulations. This trend is expected to drive the market growth as manufacturers incorporate glucose excipients in their products to meet consumer demands.
Segment Analysis:
The solid dosage forms segment dominates the glucose excipient market, accounting for the largest market share. This can be attributed to the wide usage of glucose excipients in tablet formulations for their excellent compressibility and binding properties. The liquid formulations segment is also witnessing growth, primarily driven by the increasing demand for liquid-based pharmaceutical formulations.
PEST Analysis:
Political: The pharmaceutical industry is subject to various regulations and policies imposed by governments to ensure product safety and quality.
Economic: The increasing healthcare expenditure and demand for pharmaceutical products contribute to the growth of the glucose excipient market.
Social: The rising awareness about healthcare and the growing aging population are key social factors driving the demand for pharmaceutical products.
Technological: Advancements in drug delivery systems and pharmaceutical formulations are creating opportunities for the utilization of glucose excipients.
Key Takeaways:
1. 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 industry.
2. North America is the fastest-growing and dominating region in the glucose excipient market, driven by the presence of major pharmaceutical companies and increasing investments in R&D.
3. Key players operating in the global glucose excipient market are 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.
In conclusion, the increasing demand from the pharmaceutical industry and the growing focus on clean-label products are driving the growth of the global glucose excipient market. The dominance of solid dosage forms and the favorable political, economic, social, and technological factors further contribute to the market’s expansion. North America emerges as the fastest-growing region in this market, and key players are continuously innovating to meet the evolving market demands.
