Press release
Alcohol Excipients Global Market Estimated to Surge at a CAGR of 9.6% to Reach $4.16 Billion By 2028 | Cargill Inc., Clariant AG, IMCD NV, Azelis Group NV, Kerry Group plc
Alcohol Excipients Market
As per the report, the alcohol excipients market size has grown strongly in recent years. It will grow from $2.63 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The alcohol excipients market size is expected to see strong growth in the next few years. It will grow to $4.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Rising Drug Consumption Fuels Growth In Alcohol Excipients Market
The increasing consumption of medical drugs is expected to propel the growth of the alcohol excipients market going forward. A medical drug is a chemical used to diagnose, treat, cure, or prevent disease or to improve health. The increase in the consumption of medical drugs can be attributed to the medicalization of everyday life, the aging population, and healthcare system incentives. Alcohol excipients help to enhance drug solubility, stability, transport, and palatability in pharmaceutical formulations and help ensure that medicinal medications are effective and well-received by patients. For instance, in December 2022, according to the Government of Canada, the sales of patented medications in Canada in 2022 amounted to $18.4 billion, marking a 5.7% increase compared to the preceding year. Therefore, the increasing consumption of medical drugs is driving the growth of the alcohol excipients market.
Innovations In Direct Compression Are Transforming the Alcohol Excipients Market
Major companies operating in the alcohol excipients market focus on developing innovative technologies, such as direct compression technology, to enhance efficiency and meet evolving industry demands. Direct compression is a tablet manufacturing technology that directly compresses powders, including alcohol-based excipients, into tablets without the requirement for granulation. For instance, in November 2022, Roquette Frères, a France-based chemical manufacturing company, launched PEARLITOL CR-H, a unique combination of hydroxypropyl methylcellulose (HPMC) and mannitol that Roquette created especially for direct compression in medicine tablet formulations. With the help of this novel excipient, active pharmaceutical ingredients (APIs) can be released gradually without conventional wet granulation techniques. Its unique formulation streamlines tablet manufacturing procedures by improving the powder mixture's flowability and compressibility while facilitating the development of controlled-release medications.
The alcohol excipients market covered in this report is segmented -
1) By Type: Sorbitol, Mannitol, Propylene Glycol, Glycerin, Other Types
2) By Application: Pharmaceutical, Personal Care, Cosmetics, Other Applications
3) By Distribution Channel: Direct Tender, Retail Sales, Other Distribution Channels
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Major companies operating in the alcohol excipients market are Cargill Inc., Archer Daniels Midland Company, The Dow Chemical Company, Honeywell International Inc., Mitsubishi Chemical Holdings Corporation, Merck KGaA, Kerry Group plc, Lonza Group Ltd., The Lubrizol Corporation, Clariant AG, IMCD NV, Azelis Group NV, Roquette Frères SA, Croda International Plc, BASF SE, ABITEC Corporation, Duchefa Farma B.V., Signet Chemical Corporation Pvt. Ltd., Pharm Rx Chemical Corporation, HRV Global Life Sciences Private Limited
Contents of the report:
1. Executive Summary
2. Alcohol Excipients Market Report Structure
3. Alcohol Excipients Market Trends And Strategies
4. Alcohol Excipients Market - Macro Economic Scenario
5. Alcohol Excipients Market Size And Growth
…..
27. Alcohol Excipients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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