Wilmington, Delaware , Feb. 12, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Cyclodextrin Market by Type (Alpha-Cyclodextrin, Beta-Cyclodextrin, and Gamma-Cyclodextrin), End-User Industry (Food, Pharmaceutical, Cosmetics and Personal Care, Chemical, Textile, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global cyclodextrin market valued was at $334.0 million in 2022 and is estimated to reach $579.6 million by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.
Prime determinants of growth
The global cyclodextrin market is driven by an increase in nutraceutical applications. Cyclodextrins are employed in the formulation of nutraceuticals, which are becoming increasingly popular due to growth in awareness of health and wellness. Cyclodextrins help enhance the bioavailability of certain nutrients, making them more effective in functional food and dietary supplements. As the nutraceutical market expands, the demand for cyclodextrins in this sector is expected to rise. However, high costs of production of cyclodextrin are projected to restrain the growth of the cyclodextrin market.
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Report coverage & details:
|Market Size in 2022
|Market Size in 2032
|No. of Pages in Report
|Type, End-User Industry, and Region.
|Increase in adoption of cyclodextrin in food and beverage industry Robust demand from the pharmaceutical sector
|Textile industry innovations Rise in technology-driven R&D activities
|High costs of organic chemicals
The beta-cyclodextrin segment to maintain its lead position during the forecast period.
By type, the beta-cyclodextrin segment accounted for the largest share in 2022, contributing to two-thirds of the global cyclodextrin market revenue. Beta-cyclodextrin is widely used in the pharmaceutical industry for drug delivery. Its ability to form inclusion complexes with various drugs helps improve their solubility, stability, and bioavailability. As pharmaceutical research continues to advance, the demand for beta-cyclodextrin in drug formulation is projected to increase.
The pharmaceuticals segment to maintain its lead position during the forecast period.
Based on the end-user industry, the pharmaceuticals segment accounted for the largest share in 2022, contributing to more than one-third of the global cyclodextrin market revenue. Pharmaceutical sector is recognized as the growing sector owing to surge in spending on development of highly efficient drugs where organic chemicals act as a major pharmaceutical solvent. For instance, according to a report published by India Brands Equity Foundation, the Indian pharmaceutical industry witnessed a growth of 17.7% in 2021 and is expected to grow by 22% by the end of 2022. This is expected to foster the growth of the cyclodextrin market during the forecast period.
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Asia-Pacific to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than four-ninths of the cyclodextrin market. North America boasts a robust pharmaceutical industry that consistently drives innovation. Cyclodextrins play a crucial role in drug delivery systems, addressing challenges related to the solubility and stability of certain drugs. The region’s emphasis on developing novel drug formulations and improving therapeutic outcomes contributes significantly to the demand for cyclodextrins in the pharmaceutical sector.
Leading Market Players: –
- Cambrex Corporation
- Cayman Chemical
- Wellona Pharma
- Wacker Chemie AG
- Tocopharm Co. Limited
- Roquette Frères
- Midas Pharma GmbH
- Ligand Pharmaceuticals Incorporated
- Cyclo Therapeutics, Inc
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The report provides a detailed analysis of these key players in the global cyclodextrin market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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