Alcohol Excipients Market – Global Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2030
Overview
The Alcohol Excipients Market is expected to reach USD 3.85 billion by 2030, thanks to growth in the pharmaceutical segment. The report analyzes market dynamics by region and end-user industries.
Alcohol Excipients Market Overview:
The alcohol excipients market was valued at USD 2.47 Bn. in 2023 , and it is expected to reach USD 3.85 Bn. by 2030 with a CAGR of 6.5% during the forecast period.
An excipient is a substance that is formulated alongside a medication's active ingredient for long-term stabilization, bulking up solid formulations that contain potent active ingredients in small amounts, or conferring a therapeutic enhancement on the active ingredient in the final dosage form, such as a steroid.
An excipient's intended function is to act as the carrier (vehicle or basis) for the active substance, or as a component of the carrier, and to contribute to product attributes such as stability, biopharmaceutical profile, appearance, and patient acceptability, as well as the ease with which the product can be manufactured. For example, cetyl alcohol, glycerol, ethanol, are some of the vital alcohol excipients in the market especially consumed by the pharmaceutical industry for drug production.
To know about the Research Methodology :- Request Free Sample Report
The report has covered the market trends from 2018 to forecast the market through 2030. 2023is considered a base year however 2023 numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Alcohol Excipients Market Dynamics:
Strict investigations relating to a drug examination across the globe:
Drug development has been hampered by the FDA's (Food and Drug Administration) and the European Medicines Agency's (EMA) changing regulatory circumstances. Several legislative measures are being considered that would address innovative ways to reduce the cost of prescription medications. Similarly, the FDA and the EMA have issued multiple recalls in recent years due to an increased focus on drug production quality. As a result, the rigorous studies associated with drug testing are likely to drive the usage of certain excipients in the development of effective medications across the major economies like China, Germany, the United States, and others.
Emerged COVID-19 pandemic:
The growing emphasis on the quick development of COVID-19 vaccines and medicinal medicines is driving the market growth. Excipients are important in the creation of biologics as they support keeping the medicine stable during storage and processing. The utilization of appropriate biopharmaceutical excipients allows for the creation of novel medicines and dependable pharmaceutical products to combat the pandemic.
Organizations supporting the development of COVID-19 vaccinations struck a long-term supply deal with large pharmaceutical companies. Pfizer Inc., for example, signed a five-year deal with Croda International for lipid-based excipients to be consumed in the manufacture of Pfizer's COVID-19 vaccine in November 2020. Moderna also signed a supply agreement with Corden Pharma in May 2020 for the large-scale production of lipid excipient for the development of Moderna's COVID-19 vaccine, mRNA-1273.
Ongoing collaborations:
Major organizations and government agencies are working together to expand the use of new excipients. For example, the United States Food and Drug Administration (FDA) launched a pilot program in December 2019 to examine innovative biopharmaceutical excipients. Several firms afterward backed the proposal, including AstraZeneca, Regeneron, and Janssen, in support of the FDA's plan to assess innovative biopharmaceutical excipients.
Regeneron highlighted several new excipients that have the potential to improve public health, such as hydrophobic salts, which can help to lower the viscosity of highly concentrated antibody compositions. Thus, these ongoing collaborations are expected to provide lucrative growth opportunities for the market over the forecast period.
Alcohol Excipients Market Segment Analysis:
Based on Product, the alcohol excipients market is segmented into three types as follows, sorbitol, glycerin, and others.
In 2023, the sorbitol segment was dominant and held xx% of the overall market share in terms of revenue. Alcohol excipients are being widely used in the pharmaceutical sector around the world, and their rising medical applications are driving the market growth. The sorbitol segment is expected to dominate the market over the forecast period concerning its increasing consumption in the pharmaceutical industry.
Based on Application, the alcohol excipients market is segmented into four types as follows, pharmaceutical, personal care, cosmetics, and others.
In 2020, the pharmaceutical segment was dominant and held more than 70% of the overall market share in terms of revenue. The reason behind the dominance was the emergence of the COVID-19 pandemic, which made all the pharmaceutical organizations emphasize the production of medicines and vaccines to overcome the pandemic.
During the COVID-19 pandemic, the pharmaceutical segment experienced tremendous growth and generated annual revenue of USD $1270 billion in 2020 and the trend is expected to continue over the forecast period increasing the consumption of alcohol excipients globally.
Alcohol Excipients Market Regional Insights:
In 2023, the Asia Pacific region was dominant and held more than xx% of the overall market share in terms of revenue. The growth of the alcohol excipients market in these regions has been supported by the presence of major players like Cipla, Pfizer, Novartis, AstraZeneca, and others in the production of drugs. An increasing population leading to rising health issues and greater demand for high-quality drugs have also supported the market's development in this region.
The North American market held a considerable xx% of the overall market share in 2023 and is expected to grow at a CAGR of approximately xx% during the forecast period.
The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
Alcohol Excipients Market Scope: Inquire before buying
| Global Alcohol Excipients Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 2.47 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 6.5% | Market Size in 2030: | USD 3.85 Bn. |
| Segments Covered: | By Product | Sorbitol Glycerin Others |
|
| By Application | Pharmaceutical Personal care Cosmetics Others |
||
Alcohol Excipients Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Alcohol Excipients Market, Key Players
1. Associated British Foods
2. Archer Daniels Midland
3. J.M. Huber Corporation
4. Dow Chemical
5. FMC Corporation
6. BASF SE
7. Abitec Corporation
8. Evonik Industries
9. Merck AG
10. Novozymes
11. Purdue Pharma
12. Solvay
13. Sterling Biotech
14. USG
15. Mitsubishi Chemical Performance Polymers
16. Lubrizol Corporation
17. Avantor Performance Materials
18. Nitta Gelatin
19. Others
Frequently Asked Questions:
1. What is the forecast period considered for the Alcohol Excipients market report?
Ans. The forecast period for the alcohol excipients market is 2024-2030.
2. Which key factors are hindering the growth of the Alcohol Excipients market?
Ans. The strict rules and regulations about drug examinations are key factors expected to hinder the growth of the market during the forecast period.
3. What is the compound annual growth rate (CAGR) of the Alcohol Excipients market for the next 6 years?
Ans. The alcohol excipients market is expected to grow at a CAGR of 6.5% during the forecast period (2024-2030).
4. What are the key factors driving the growth of the Alcohol Excipients market?
Ans. The emerged COVID-19 pandemic and increased emphasis on the production of the high-quality drug are the key factors expected to drive the growth of the market during the forecast period.
5. Which are the worldwide major key players covered for the Alcohol Excipients market report?
Ans. Associated British Foods, Archer Daniels Midland, J.M. Huber Corporation, Dow Chemical, FMC Corporation, BASF SE, Abitec Corporation, Evonik Industries, Merck AG, Novozymes, Purdue Pharma, Solvay, Sterling Biotech, USG, Mitsubishi Chemical Performance Polymers, Lubrizol Corporation, Avantor Performance Materials, Nitta Gelatin, and Others.