PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498780
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498780
Cyclodextrin Market size was valued at USD 321.09 million in 2023, expanding at a CAGR of 5.92% from 2024 to 2032.
Cyclodextrins are widely used in pharmaceuticals for drug delivery, solubility enhancement, and stability improvement, driving demand in the pharmaceutical sector. Cyclodextrins are utilized in cosmetics for encapsulation and controlled release of active ingredients, catering to the growing demand for multifunctional and high-performance cosmetic products. Regulatory restrictions and guidelines regarding the usage of cyclodextrins in different industries can pose challenges to market players, impacting market growth. Investments in research and development for the development of novel cyclodextrin derivatives and applications can create opportunities for market players to differentiate their products and capture new markets.
Cyclodextrin Market- Market Dynamics
Increasing Demand in the Pharmaceutical Industry
Cyclodextrins are cyclic oligosaccharides composed of glucose units, and they possess a hydrophobic cavity that can encapsulate hydrophobic molecules, forming inclusion complexes. Cyclodextrins can enhance the solubility of poorly water-soluble drugs by encapsulating them within their hydrophobic cavity, thus improving their bioavailability and efficacy. The pharmaceutical industry's increasing focus on developing novel drug formulations, improving drug solubility and bioavailability, and enhancing patient compliance has fueled the demand for cyclodextrin. Moreover, the growing prevalence of chronic diseases and the need for more effective therapeutic solutions further drive the utilization of cyclodextrin in pharmaceutical products. The National Centre for Advancing Translational Science (NCATS) of the National Institutes of Health (NIH) launched the Therapeutics for Rare and Neglected Diseases (TRND) program in 2010. The program's goal is to promote drug discovery and development for rare and neglected tropical diseases using a collaborative model involving the NIH, academic scientists, nonprofit organizations, and pharmaceutical and biotechnology companies.
Cyclodextrin Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.92% over the forecast period (2024-2032)
Based on product type segmentation, Alpha-Cyclodextrin was predicted to show maximum market share in the year 2023
Based on end-use industry segmentation, the Pharmaceutical Industry was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Cyclodextrin Market is segmented on the basis of Product Type, Application, End-Use Industry, and Region.
The market is divided into three categories based on product type: Alpha-Cyclodextrin, Beta-Cyclodextrin, and Gamma-Cyclodextrin. Beta Oil category, which held the greatest share of the market. Because beta-cyclodextrin is more widely available and less expensive than other cyclodextrins, it is commonly used in the production of injectable pharmaceuticals such as Remdesivir. For these reasons, it is predicted that the Beta segment will continue to hold its top spot during the forecast period. Meals can benefit from the addition of beta cyclodextrins to enhance their final quality.
The market is divided into six categories based on the end-use industry: Pharmaceutical Industry, Food & Beverage Industry, Cosmetics & Personal Care Industry, Chemical Industry, Agricultural Industry, and Others. The pharmaceutical segment held the greatest portion of the market. The pharmaceutical segment is expected to continue growing at the quickest CAGR and hold its top spot during the forecast period due to the use of cyclodextrins to make poorly soluble medications more water-soluble in pharmaceutical and nutraceutical products. Furthermore, they mitigate the bothersome side effects of gastrointestinal drugs. Its high degree of drug compatibility and use in pharmaceutical formulations are explained by these factors.
Cyclodextrin Market- Geographical Insights
North America is the region with the most market share, primarily due to the United States, Canada, and Mexico. The market for cyclodextrin is driven by the rise in dietary supplements due to the prevalence of chronic diseases and hectic lifestyles. Europe is a major player in the cyclodextrin industry, which is primarily driven by the food and beverage and pharmaceutical industries. To improve the quality of products, cyclodextrins are added to food and utilized in a variety of pharmaceutical formulations. The pharmaceutical industry in North America extensively uses cyclodextrins for drug delivery systems, solubility enhancement, and stabilization of compounds. The growing trend towards healthier and functional foods boosts the demand for cyclodextrins in this sector.
Wacker Chemie AG is a leading manufacturer with a strong portfolio in the cyclodextrin market, particularly known for its extensive research and development capabilities. Companies are into continuous research and development activities aimed at improving the functionality and efficiency of cyclodextrins, particularly in pharmaceuticals for drug delivery systems and in food for enhancing the solubility and stability of ingredients. Ashland Global Holdings Inc. is known for its comprehensive portfolio, Ashland provides various grades of cyclodextrins, catering to different industries including pharmaceuticals, food and beverages, and cosmetics. Collaborations and partnerships with research institutions and other companies help in expanding product portfolios and market reach. Joint ventures and mergers also play a significant role in shaping the competitive landscape.
In August 2021, ReVision Therapeutics, Inc. and Aequus Pharmaceuticals Inc. announced that they would be working together to develop a treatment for Stargardt's illness. ReVision is a privately held biopharmaceutical firm that specializes in the research and commercialization of novel therapeutics for uncommon ocular disorders.
GLOBAL CYCLODEXTRIN MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Wacker Chemie AG
Roquette Freres
Merck KGaA
Cyclolab
Cayman Chemical Company
Ligand Pharmaceuticals
Ashland Global Holdings Inc.
Wellona Pharma
Tokyo Chemical Industry Co., Ltd.
Mengzhou Hongji Biology Co.
Nihon Shokuhin Kako Co., Ltd.
Others