Cyclodextrin Market Continues to Thrive with USD 579.6 Million by 2032

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.

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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.

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.

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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.

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.

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Leading Market Players: -

Cambrex Corporation

Cayman Chemical

Wellona Pharma

Wacker Chemie AG

Cyclolab

Tocopharm Co. Limited

Roquette Frères

Midas Pharma GmbH

Ligand Pharmaceuticals Incorporated

Cyclo Therapeutics, Inc

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.

For More Details: https://www.globenewswire.com/news-release/2024/02/12/2827189/0/en/Cyclodextrin-Market-Size-Worth-579-6-Million-by-2032-CAGR-5-7-AMR.html

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