As per MRFR analysis, the Plant Based Excipient Market Size was estimated at 2.52 (USD Billion) in 2022.
The Plant Based Excipient Industry is expected to grow from 2.71 (USD Billion) in 2023 to 5.4 (USD Billion) by 2032. The Plant Based Excipient Market CAGR (growth rate) is expected to be around 7.94% during the forecast period (2024 - 2032).
Key Plant Based Excipient Market Trends Highlighted
Plant-based excipients, derived from plant-derived materials such as cellulose, starch, and gums, are emerging as a sustainable and functional alternative to synthetic excipients in pharmaceutical formulations. The increasing demand for natural and organic ingredients, coupled with growing environmental concerns, is driving the growth of this market.
Key market drivers include advancements in extraction and processing technologies, which have improved the quality and purity of plant-based excipients, making them suitable for a wider range of applications. The rise of plant-based supplements and functional foods also creates opportunities for excipients derived from natural sources.
Recent trends include the development of novel excipients from plant byproducts and the growing adoption of plant-based excipients in controlled-release formulations. These advancements are expected to further propel the growth of the global plant-based excipient market in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Plant Based Excipient Market Drivers
Rising Demand for Plant-Based Products
The growing consumer preference for plant-based products is a major driver of the Plant Based Excipient Market Industry. As more people adopt vegan and vegetarian lifestyles, the demand for plant-based alternatives to traditional animal-derived ingredients is increasing. This trend is particularly evident in the food and beverage industry, where plant-based excipients are being used to create vegan and vegetarian versions of popular products such as cheese, yogurt, and ice cream.
In addition, the rising popularity of plant-based cosmetics and personal care products is also contributing to the growth of the Plant Based Excipient Market Industry. As consumers become more aware of the environmental and ethical concerns associated with animal-derived ingredients, they are increasingly seeking out plant-based alternatives that are both sustainable and cruelty-free. The growing demand for plant-based products is being driven by a number of factors, including: The increasing prevalence of vegan and vegetarian diets The growing awareness of the environmental and ethical concerns associated with animal agriculture The rising popularity of plant-based cosmetics and personal care products As a result of these factors, the Plant Based Excipient Market Industry is expected to continue to grow at a rapid pace in the coming years.
Technological Advancements
The Plant Based Excipient Market Industry is also being driven by technological advancements that are making it possible to produce plant-based excipients that are more affordable, functional, and sustainable. For example, new extraction and purification techniques are making it possible to produce plant-based excipients with a higher purity and concentration than ever before. In addition, advances in biotechnology are enabling the development of new plant-based excipients with tailored properties that can meet the specific needs of different applications.
Government Regulations
Government regulations are also playing a role in the growth of the Plant Based Excipient Market Industry. In many countries, governments are implementing regulations that restrict the use of animal-derived ingredients in food, beverage, and cosmetic products. These regulations are driving the demand for plant-based alternatives, and they are also creating a more favorable environment for the development and commercialization of plant-based excipients.
Plant Based Excipient Market Segment Insights
Plant Based Excipient Market Type Insights
The market is segmented by type into cellulose, starch, protein, polysaccharides, and others. Cellulose is the most commonly used plant based excipient, accounting for over 50% of the market share. It is a natural polymer that is derived from plants such as wood, cotton, and hemp. Cellulose is used as a binder, filler, and disintegrant in tablets, capsules, and other dosage forms. Starch is another commonly used plant based excipient, accounting for over 25% of the market share. It is a natural polymer that is derived from plants such as corn, wheat, and potatoes.
Starch is used as a binder, filler, and disintegrant in tablets, capsules, and other dosage forms. Protein is a plant based excipient that is derived from plants such as soy, pea, and wheat. It is used as a binder, filler, and disintegrant in tablets, capsules, and other dosage forms. Protein is also used as a coating agent for tablets and capsules. Polysaccharides are a group of plant based excipients that are derived from plants such as guar gum, locust bean gum, and xanthan gum. They are used as binders, fillers, and disintegrants in tablets, capsules, and other dosage forms.
Polysaccharides are also used as thickeners and stabilizers in liquid dosage forms. Others include a variety of plant based excipients that are used in the pharmaceutical industry. These include plant based oils, waxes, and fats. Plant based oils are used as lubricants and emollients in topical dosage forms. Plant based waxes are used as coatings and polishing agents for tablets and capsules. Plant based fats are used as suppository bases and ointment bases. The growth of the plant based excipient market is being driven by the increasing demand for natural and sustainable products in the pharmaceutical industry.
Plant based excipients are seen as a more sustainable alternative to synthetic excipients, which are often derived from petroleum-based materials. The plant based excipient market is expected to continue to grow in the coming years. This growth is being driven by the increasing demand for natural and sustainable products in the pharmaceutical industry. The market is also expected to benefit from the growing awareness of the health benefits of plant based products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Plant Based Excipient Market Source Insights
The Plant Based Excipient Market is segmented based on source into plant, animal, and synthetic. The plant-based segment is estimated to dominate the market in 2023, accounting for over 80% of the Plant Based Excipient Market revenue. This dominance is due to the increasing demand for natural and sustainable excipients in the pharmaceutical industry. The plant-based excipients offer several advantages, including biocompatibility, low toxicity, and cost-effectiveness. They are derived from various plant sources, such as cellulose, starch, and gums.
The animal-based segment is expected to witness moderate growth over the forecast period, primarily driven by the increasing demand for gelatin in the pharmaceutical and food industries. The synthetic segment is expected to grow at a steady pace, mainly due to the advancements in polymer chemistry and the development of new synthetic excipients with improved properties.
Plant Based Excipient Market Function Insights
The Function segment of the Plant Based Excipient Market is categorized into Fillers, Binders, Disintegrants, Lubricants, and Others. Fillers, the largest segment, held a market valuation of 1.24 billion USD in 2023 and is projected to reach 2.08 billion USD by 2032, exhibiting a CAGR of 6.7%. Binders, the second-largest segment, accounted for 0.87 billion USD in 2023 and is estimated to grow to 1.45 billion USD by 2032, with a CAGR of 6.4%. Disintegrants, Lubricants, and Others are expected to exhibit steady growth over the forecast period, contributing to the overall expansion of the Function segment.
Plant Based Excipient Market Application Insights
The Plant Based Excipient Market is segmented based on application into oral solid dosage forms, injectable dosage forms, topical dosage forms, and others. Among these, the oral solid dosage forms segment is expected to hold the largest market share during the forecast period. The growth of this segment can be attributed to the increasing demand for plant-based excipients in the pharmaceutical industry for the development of solid dosage forms such as tablets and capsules. The injectable dosage forms segment is also expected to witness significant growth due to the rising prevalence of chronic diseases and the increasing adoption of plant-based excipients in the development of injectable drugs.
The topical dosage forms segment is also expected to grow at a steady pace due to the increasing demand for plant-based excipients in the development of topical formulations such as creams, ointments, and gels. The others segment includes applications such as ophthalmic, nasal, and pulmonary drug delivery, and is expected to grow at a moderate pace during the forecast period.
Plant Based Excipient Market Regional Insights
The Plant Based Excipient Market report segments the regional Plant Based Excipient Market into North America, Europe, APAC, South America, and MEA. North America held the dominant position in the global market in 2023 and is expected to maintain its dominance throughout the forecast period. The region's large pharmaceutical and biotechnology industries, coupled with increasing demand for plant-based excipients in the nutraceuticals and cosmetics industries, drive market growth. The presence of key players, such as Ashland, Archer Daniels Midland Company, and Ingredion Incorporated, also contributes to the region's leading position.
Europe is another significant market for plant-based excipients, with a growing focus on natural and sustainable ingredients in various industries. The region's stringent regulatory framework regarding the safety and efficacy of excipients ensures the quality and reliability of plant-based excipients, driving their adoption in pharmaceutical and personal care applications. The APAC region is expected to witness the fastest growth in the global plant-based excipient market during the forecast period. The region's rapidly expanding pharmaceutical industry, coupled with increasing awareness of plant-based ingredients, is fueling market growth.
Countries such as China, India, and Japan are emerging as key markets for plant-based excipients, driven by growing disposable income and changing consumer preferences. South America and MEA are expected to experience steady growth in the plant-based excipient market. The increasing penetration of pharmaceutical and personal care products in these regions, along with a growing focus on sustainability, is driving demand for plant-based excipients. The presence of local manufacturers and suppliers in these regions also contributes to market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Plant Based Excipient Market Key Players And Competitive Insights:
Major players in Plant Based Excipient Market industry are focusing on expanding their product portfolios and gaining a competitive edge in the market. Leading Plant Based Excipient Market players are investing in research and development to innovate new products and technologies. The Plant Based Excipient Market is expected to witness significant growth in the coming years, owing to the increasing demand for plant-based products.
Plant Based Excipient Market development is being driven by the growing awareness of the benefits of plant-based ingredients and the increasing demand for natural and sustainable products. The Plant Based Excipient Market Competitive Landscape is characterized by the presence of several established players, as well as a number of emerging players.
Roquette is a leading provider of plant-based excipients. The company offers a wide range of excipients, including starches, cellulose, and gums. Roquette's excipients are used in a variety of applications, including pharmaceuticals, food, and personal care. The company has a strong global presence and several strategic partnerships with leading pharmaceutical companies.
Cargill is another major player in the Plant Based Excipient Market. The company offers a wide range of excipients, including starches, cellulose, and gums. Cargill's excipients are used in a variety of applications, including pharmaceuticals, food, and personal care. The company has a strong global presence and a number of strategic partnerships with leading pharmaceutical companies.
Key Companies in the Plant Based Excipient Market Include:
Plant Based Excipient Market Industry Developments
The global plant-based excipient market is projected to witness steady growth, driven by rising demand for plant-based products and increasing awareness of their benefits. Major players in the market are focusing on expanding their product portfolios and investing in research and development to cater to the growing demand.
Recent developments include the launch of new plant-based excipients by companies such as Ashland and Dow, as well as strategic partnerships and acquisitions to enhance market presence. Market expansion is also being driven by growing investments in the pharmaceutical and nutraceutical industries, which are key end-users of plant-based excipients. Overall, the market is expected to continue its upward trajectory, with increasing adoption of plant-based products and ongoing innovation in the industry.
Plant Based Excipient Market Segmentation Insights
Plant Based Excipient Market Type Outlook
Plant Based Excipient Market Source Outlook
Plant Based Excipient Market Function Outlook
Plant Based Excipient Market Application Outlook
Plant Based Excipient Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 2.52(USD Billion) |
| Market Size 2023 | 2.71(USD Billion) |
| Market Size 2032 | 5.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 7.94% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | DuPont, Ingredion, Cargill, Tate Lyle, Lonza Group, FMC, Wacker Chemie AG, Prinova Group, Croda International, BASF, Naturex, Kerry Group, Lubrizol, Ashland, Merck KGaA |
| Segments Covered | Type, Source, Function, Application, Regional |
| Key Market Opportunities | Growth in vegan and vegetarian population Rising demand for natural and sustainable products Technological advancements in plantbased excipient extraction and manufacturing Expansion into emerging markets Increasing health consciousness and preference for plantbased supplements |
| Key Market Dynamics | Rising demand for natural and sustainable excipients Technological advancements in extraction and purification processes Growing focus on personalized medicine Increasing awareness about nutraceuticals Expanding applications in cosmetics and personal care |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Plant Based Excipient Market was valued at approximately USD 2.71 billion in 2023.
The Plant Based Excipient Market is projected to reach approximately USD 5.4 billion by 2032, exhibiting a CAGR of 7.94% during the forecast period.
North America is expected to dominate the Plant Based Excipient Market throughout the forecast period due to increasing adoption of plant-based products and favorable regulatory policies.
Rising demand for plant-based products, growing awareness about the benefits of plant-based excipients, and increasing investments in research and development are the key factors propelling the market growth.
Some of the prominent players in the Plant Based Excipient Market include Ashland, Archer Daniels Midland Company, BASF SE, Cargill, Incorporated, and Ingredion Incorporated.
The pharmaceuticals segment is anticipated to account for the largest share of the Plant Based Excipient Market owing to the growing demand for plant-based excipients in drug formulations.
Asia Pacific is expected to witness the highest CAGR during the forecast period due to rising disposable incomes, changing lifestyles, and increasing awareness about health and wellness.
Limited availability of raw materials, stringent regulatory requirements, and intense competition from synthetic excipients pose major challenges to the growth of the market.
The COVID-19 pandemic had a moderate impact on the Plant Based Excipient Market, leading to temporary disruptions in supply chains and manufacturing processes.
Growing consumer preference for natural and sustainable products, advancements in extraction and purification technologies, and increasing collaborations between manufacturers and research institutions are key trends shaping the future of the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
