Plant-based Excipients Market Size, Share & Trends Analysis Report By Chemical Nature (Carbohydrates, Proteins, Polymers, Minerals), By Application, By Function (Binders & Diluents), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global plant-based excipients market size was estimated at USD 1,789.58 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.28% from 2023 to 2030. The market is witnessing growth due to factors such as regulatory support, rising R&D for natural and plant-based excipients, and increasing demand for halal, vegan, and vegetarian pharmaceuticals in the industry. In addition, plant-based excipients are non-toxic, economical, and easily available. This improves the adoption of plant-based excipients and is expected to further drive the market over the forecast period.

The growing trend of “animal-free pharmaceuticals” has led to the shift toward vegetarian, halal, and kosher pharmaceuticals. Moreover, ethical concerns or religious objections to the use of animal-based pharmaceutical products has led several companies to innovate plant-based excipients to eliminate animal-based pharmaceutical products. In addition, the potential benefit offered by plant-based excipients has urged several manufacturers to use more vegetarian alternatives for the pharmaceutical manufacturing process.

In recent years, plant-based excipients have elicited tremendous interest among market players as replacements for synthetic additives. Several novel products of plant origin, such as starch, alginates, agar, carrageenan, xanthan gum, gelatin, pectin, acacia, tragacanth, guar gum, and cellulose have witnessed increased demand for the market. These can be used as sustaining agents, binding agents, disintegrating agents, thickening agents/gelling agents, protectants, bases in suppositories, stabilizers, and/or coating materials.

Considering the consumer demand for natural products, and minimally processed pharmaceutical products, the market growth is being fueled by expansions in the pharma industry, acquisition, new product launches, as well as rising demand for new drug delivery systems & patent expiries of several blockbuster drugs. Moreover, players are focusing on acquisition, collaboration, and partnership to develop new plant-based excipients. For instance, in September 2022, Roquette announced the acquisition of Indian excipient manufacturer, Crest Cellulose. The acquisition will allow Roquette to continue its growth & meet increasing global demand for high-quality plant-based excipients, which are pharmacopeia-compliant, fully traceable solutions to solve the challenges in drug delivery.

As the demand for plant-based excipients is growing, the pharmaceutical industry is still struggling to find an alternative to standard products that are being used since decades. Cellulose and its derivatives (ester and ether) are among the excipients frequently used in pharmaceuticals to serve various purposes. Moreover, the pharmaceutical manufacturers face many challenges when approaching the management of excipient variability.

Chemical Nature Insights

The carbohydrates segment held the largest share of 21.09% 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 20.7% 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 peojected 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 themarket with largest market share of 38.5% 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.

Key Companies & Market Share Insights

The key players operating in the field of plant-based excipients are constantly focusing on changing existing and introducing novel products that are more efficient. For instance, in November 2022, JRS PHARMA launched the newest all-natural excipient: LUBRITAB RBW. It is developed as a lubricant for formulations of capsules & tablets. It is suitable for use in direct compression and continuous manufacturing, as well as in dry or wet granulation formulations. Some of the prominent players in the global plant-based excipients market include:

• Roquette Frères

• BASF Corporation

• Lonza

• DFE Pharma

• Evonik

• JRS PHARMA

• Micro Powders, Inc.

• Henan Fumei Bio-Technology CO., LTD

• ADC

• SpecializedRx

• Cristalco

Plant-based Excipients Market Report Scope

Global Plant-based Excipients Market Report Segmentation

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the plant-based excipients market on thechemical nature, application and functions, and region:

• Chemical Nature Outlook (Revenue, USD Million, 2018 - 2030)

  • Carbohydrates

  • Proteins

  • Polymers

  • Minerals

  • Glycoside & Waxes

  • Esters

  • Ethers & Carboxylic Acids

  • Others

• Applications and Function Outlook (Revenue, USD Million, 2018 - 2030)

  • Binders & Diluents

  • Glidants

  • Lubricants & Disintegrants

  • Film Forming & Coating Agents

  • Plasticizers

  • Suspending Agents

  • Preservatives & Antioxidants

  • Colorants & Flavoring Agents

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

    • Rest of Europe

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Rest of Latin America

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

    • Rest of Middle East and Africa