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Sugar-Based Excipients Market Growth Analysis | 2023-2028
Sugar-Based Excipients Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
Sugar-Based Excipients Market is segmented by Product (Actual Sugars, Sugar Alcohols, Artificial Sweeteners), by Type (Powder/Granule, Crystal, Syrup), by Functionality (Filler & Diluent, Tonicity Agents, Other), by Formulation (Oral Formulations, Parenteral Formulations, Topical Formulations) and by Region - COVID-19 Impact Analysis and Forecast to 2028.
The sugar-based excipients market was estimated at USD 1.22 billion in 2022 and is likely to grow at a CAGR of 4.15% during 2023-2028 to reach USD 1.57 billion in 2028.
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Sugar-based excipients can be defined as excipients that are most used in oral medication. It is primarily used for medicines directed to children. It finds usage in various applications including sucrose, saccharin sodium, glycerol, sorbitol, and others.
COVID-19 Impact
The COVID-19 outbreak posed significant challenges for the healthcare sector across geographies. It impacted the growth of the sugar-based excipients market as supply chain disruptions due to trade restrictions affected the product availability on demand.
The growth of the sugar-based excipients market is primarily driven by its widespread use as an active pharmaceutical ingredient in drug formulation. The rapid growth of the generics market and the increasing prevalence of chronic diseases are likely to add to the market growth substantially during the review period. In addition to this, the expanding growth of the pharmaceutical industry in developing countries is likely to create lucrative opportunities for the players operating in the global market in the coming years.
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Key players operating in the market are:
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Formulation Type Analysis |
Oral Formulations, Parenteral Formulations, Topical Formulations |
The oral formulations segment accounted for the largest market share in 2022 and is projected to register a significant CAGR during the review period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
North America accounted for the largest market share in 2022 and is expected to register a significant CAGR during the review period. |
Based on formulation, the market has been segmented into oral formulations, parenteral formulations, and topical formulations. The oral formulations segment accounted for the largest market share in 2022 and is projected to register a significant CAGR during the review period. The segment growth can be attributed to the increasing development of orally disintegrating tablets (ODTs).
Geographically, the market in North America accounted for the largest market share in 2022 and is expected to register a significant CAGR during the review period. The market growth can be attributed to the presence of an established pharmaceutical industry coupled with increasing spending on orally disintegrating tablets. The market in Asia-Pacific is expected to be driven by the increasing growth of the pharmaceutical industry in developing countries, particularly China and India.
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This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The sugar-based excipients market is segmented into the following categories.
By Product Type
By Type
By Functionality Type
By Formulation Type
By Region
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Sugar-based excipients can be defined as excipients that are most used in oral medication. It is primarily used for medicines directed to children. It finds usage in various applications including sucrose, saccharin sodium, glycerol, sorbitol, and others.
The sugar-based excipients market was estimated at USD 1.22 billion in 2022.
The sugar-based excipients market is likely to reach USD 1.57 billion in 2028.
The sugar-based excipients market is likely to grow at a CAGR of 4.15% during 2023-2028.
Ashland Global Specialty Chemicals Inc. (US), The Archer-Daniels-Midland Company (US), BASF SE (Germany), DFE Pharma (Germany), Roquette (France), Associated British Foods plc (UK), Cargill, Inc. (US), Colorcon Incorporated (US), FMC Corporation (US), The Lubrizol Corporation (US) and Meggle (Germany) are among the top players in the market.
The oral formulations segment is expected to register a significant CAGR in the market in the next five years.
North America accounted for the largest share of the market in 2022.
The growth of the sugar-based excipients market is primarily driven by its widespread use as an active pharmaceutical ingredient in drug formulation. The rapid growth of the generics market and the increasing prevalence of chronic diseases are likely to add to the market growth substantially during the review period. In addition to this, the expanding growth of the pharmaceutical industry in developing countries is likely to create lucrative opportunities for the players operating in the global market in the coming years.
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