South Korea Plant-based Excipients Market Size & Outlook
South Korea plant-based excipients market, 2018-2030 (US$M)
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South Korea plant-based excipients market highlights
- The South Korea plant-based excipients market generated a revenue of USD 36.8 million in 2023 and is expected to reach USD 52.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, carbohydrates was the largest revenue generating chemical nature in 2023.
- Carbohydrates is the most lucrative chemical nature segment registering the fastest growth during the forecast period.
Plant-based excipients market data book summary
| Market revenue in 2023 | USD 36.8 million |
| Market revenue in 2030 | USD 52.6 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Carbohydrates |
| Fastest growing segment | Carbohydrates |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbohydrates, Proteins, Polymers, Minerals, Glycoside & Waxes, Esters, Ethers & Carboxylic Acids, Other Chemical Natures |
| Key market players worldwide | Basf SE, Lonza Group Ltd, Evonik Industries AG, Roquette America, JRS Pharma, Micro Powders, Fumeipharm, Cristalco |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global plant-based excipients market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan plant-based excipients market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 64.8 million by 2030.
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Plant-based Excipients Market Scope
Plant-based Excipients Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea plant-based excipients market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plant-based excipients market will help companies and investors design strategic landscapes.
Carbohydrates was the largest segment with a revenue share of 21.2% in 2023. Horizon Databook has segmented the South Korea plant-based excipients market based on carbohydrates, proteins, polymers, minerals, glycoside & waxes, esters, ethers & carboxylic acids, other chemical natures covering the revenue growth of each sub-segment from 2018 to 2030.
The country heavily relies on imports of pharmaceuticals. Owing to this, the market for pharmaceutical excipients in the country is relatively small as compared to other Asia Pacific countries. A significant number of people living in Korea have a vegetarian lifestyle.
The high burden of chronic illnesses due to animal products is expected to improve the number of people turning vegetarians over the forecast years, which is expected to boost the demand for plant-based excipients as they are less toxic, improve bioavailability, and are more economical as compared to animal-based excipients.
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Target buyers of South Korea plant-based excipients market databook
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Our clientele includes a mix of plant-based excipients market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea plant-based excipients market , including forecasts for subscribers. This country databook contains high-level insights into South Korea plant-based excipients market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea plant based excipients market size, by chemical nature, 2018-2030 (US$M)
South Korea Plant-based Excipients Market Outlook Share, 2023 & 2030 (US$M)
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