Plant-based Excipients Market Size, Share | Report 2023-2032
The global plant-based excipients market was valued at USD 1,789.60 million in 2022 and it is predicted to surpass around USD 2,726.46 million by 2032 with a CAGR of 4.3% from 2023 to 2032.
Key Pointers
Report Scope of the Plant-based Excipients Market
| Report Coverage | Details |
| Market Size in 2022 | USD 1,789.60 million |
| Revenue Forecast by 2032 | USD 2,726.46 million |
| Growth rate from 2023 to 2032 | CAGR of 4.3% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Roquette Frères; BASF Corporation; Lonza; DFE Pharma; Evonik; JRS PHARMA; Micro Powders Inc.; Henan Fumei Bio-Technology CO., LTD.; ADC; SpecializedRx; Cristalco |
The growth of the plant-based excipients market is attributed to the supportive initiatives by regulatory authorities to bring new excipients into the market and an increase in the R&D activities for new plant-based excipients are some major factors supporting market growth.
Growing innovations in animal-free substitutes in vegetarian pharmaceuticals have attracted the attention of vegetarian and vegan consumers. For instance, in March 2022, Paraveganio is the first medicinal product in the world to be registered with the Vegan Society’s Vegan Trademark. It is the world's first medicine to be certified to contain no animal-derived products. Paraveganio is a paracetamol product manufactured by Axunio and uses a plant-based source of the excipient magnesium stearate.
In September 2022, the U.S. FDA launched the Pilot Program for the Review of Innovation and Modernization of Excipients. The program emphasized creating a new pathway for manufacturers to obtain FDA review of novel excipients before their use in drug formulations. Through this program, the U.S. FDA intends to improve the development of excipient molecules to support the manufacturers. This is expected to improve the number of plant-based excipients entering the U.S. market in the coming years.
Governments in the MEA region have taken various initiatives to raise awareness about various diseases, especially infectious diseases and lifestyle diseases. This is expected to improve the adoption of pharmaceuticals, thus promoting the use of excipients in the region. There is a growing demand for halal products in the MEA region, as Islamic population does not eat pork. Owing to this reason, it is expected that the adoption of plant-based excipient products is likely to rise in MEA and thus support regional market growth.
Growing R&D for new methods and techniques for production of plant-based excipients has enhanced the manufacturer research activities with active areas of investigation. For instance, in March 2022, Evonik had increased plant-derived cholesterol supply, one of the critical components for the production of gene therapies & mRNA vaccines. The large-scale production of PhytoChol will meet the cholesterol market demand in Germany. This lipid is the key excipient in lipid nanoparticles used in COVID-19 vaccines.
Chemical Nature Insights
The carbohydrates segment held the largest share of 21.1% of market in 2022. These carbohydrates are widely used in tablet preparations. High demand for tablet formulation and increasing adoption of carbohydrates in tablet formulations are major factors boosting segment growth. Natural marine origin excipients are among the most commonly utilized in the formulation of various dosage forms. In pharmaceutical dosage form, a number of marine-based polysaccharides, including agar, chitosan, alginate, hyaluronan, carrageenan, and fucoidan, are used as carriers, binders, gelling agents, disintegrating agents, and drug release sustaining agents.
Some of the key factors driving the market for ethers as a solubilizer are increase in the demand for oral dosage forms. Due to their ease of administration, high patient compliance, flexibility in dosage form design, and affordability, oral dosage forms are the most popular pharmaceutical formulations and the most practical route of drug delivery. Yet, poor absorption of oral dosage forms is the main problem with their design. One of the main causes of decreased active pharmaceutical ingredient (API) bioavailability is an inadequate solubility profile. Solubilizers or solubilizing agents improve oral dosage form bioavailability by enhancing the solubility of poorly soluble medicines.
Application And Function Insights
The binders and diluents segment held the largest share of 20.74% of the market in 2022. The dominance of the segment is attributed to their use in formulation to impart flexibility or strengthen the bonding strength between particles. Binders help improve the gripping of substances in tablets and granules, which is crucial. They make sure the formulations are produced with the necessary physical strength and quantity. Natural binders are widely used as excipients in the pharmaceutical and food industries due to their low toxicity, biodegradability, ease of availability, low cost, and other benefits, which further propel the market growth around the world.
Film forming and coating agents are projected to grow at a lucrative rate over the forecast period. Players such as Roquette are introducing better solutions such as LYCOAT, a unique modified pea starch with exceptional properties. A film-forming polymer called LYCOAT was created especially for aqueous film coating for quick release. It dissolves quickly in water without lumping up or producing foam, allowing for quick preparation of the coating suspension.
Regional Insights
North America dominated the market with largest market share of 38.53% in 2022 and is expected to maintain its dominant position, in terms of share, throughout the forecast period. The rising awareness among the population regarding health and advantages offered by natural excipients, such as non-toxicity, high affordability, and easy availability, are further driving the growth of the regional market. Moreover, key players in the region are focusing on developing newer products to meet the rising demand for pharmaceuticals. For instance, in December 2022, Evonik announced the launch of PhytoSquene, which provides the market with a plant-based excipient alternative to animal-based excipients.
Asia Pacific is estimated to show the fastest growth in the market over the forecast period. This can be attributed to the owing to various factors, such as increasing healthcare reforms. Other factors contributing to the market growth are improving healthcare infrastructure, growing population, and a rising number of local companies entering the market. Presence of a large vegetarian and halal population in this region is a major factor propelling the market growth in this region.
Plant-based Excipients Market Segmentations:
By Chemical Nature
By Applications and Function
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Plant-based Excipients Market
5.1. COVID-19 Landscape: Plant-based Excipients Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Plant-based Excipients Market, By Chemical Nature
8.1. Plant-based Excipients Market, by Chemical Nature, 2023-2032
8.1.1. Carbohydrates
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Proteins
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Polymers
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Minerals
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Glycoside & Waxes
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Esters
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.7. Ethers & Carboxylic Acids
8.1.7.1. Market Revenue and Forecast (2020-2032)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Plant-based Excipients Market, By Applications and Function
9.1. Plant-based Excipients Market, by Applications and Function, 2023-2032
9.1.1. Binders & Diluents
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Glidants
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Lubricants & Disintegrants
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Film Forming & Coating Agents
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Plasticizers
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Suspending Agents
9.1.6.1. Market Revenue and Forecast (2020-2032)
9.1.7. Preservatives & Antioxidants
9.1.7.1. Market Revenue and Forecast (2020-2032)
9.1.8. Colorants & Flavoring Agents
9.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Plant-based Excipients Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.1.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.2.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.5.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Chemical Nature (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Applications and Function (2020-2032)
Chapter 11. Company Profiles
11.1. Roquette Frères
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Lonza
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. DFE Pharma
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Evonik
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. JRS PHARMA
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Micro Powders Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Henan Fumei Bio-Technology CO., LTD.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. ADC
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. SpecializedRx
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers