The Alcohol Excipients Market Size - $2.88 Billion In 2024

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 18, 2024 /EINPresswire.com/ -- The alcohol excipients market size has grown strongly in recent years, increasing from $2.63 billion in 2023 to $2.88 billion in 2024, at a compound annual growth rate (CAGR) of 9.4%. It will grow to $4.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period is attributed to the rising consumer preference for self-medication, growth in global healthcare spending, advancements in personalized medicine, the expansion of biologics, and increasing consumer awareness of health and wellness.

Increasing Consumption of Medical Drugs Drives Market Growth
The growing consumption of medical drugs significantly propels the alcohol excipients market. Alcohol excipients enhance drug solubility, stability, transport, and palatability, ensuring that medicinal medications are effective and well-received by patients. The increase in medical drug consumption is due to the medicalization of everyday life, an aging population, and healthcare system incentives. For example, in December 2022, the Government of Canada reported that sales of patented medications in Canada reached $18.4 billion, a 5.7% increase from the previous year.

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Key Players and Market Trends
Key players in the alcohol excipients market, such as Cargill Inc. and Archer Daniels Midland Company, are developing innovative technologies like direct compression technology to enhance efficiency. Roquette Frères, for instance, launched PEARLITOL CR-H in November 2022, a blend of hydroxypropyl methylcellulose (HPMC) and mannitol designed for direct compression in medicine tablet formulations. This novel excipient allows active pharmaceutical ingredients (APIs) to be released gradually without conventional wet granulation, improving powder flowability and compressibility, facilitating the development of controlled-release medications.

Alcohol Excipients Market Major Trends in the Market
Trends in the forecast period include a shift towards natural and plant-based alcohol excipients, advancements in controlled-release formulations, multifunctional excipients, and increased focus on personalized medicine. Technological advancements are also enhancing the capabilities and efficiency of alcohol excipients.

Alcohol Excipients Market Segments
• By Type: Sorbitol, Mannitol, Propylene Glycol, Glycerin, Other Types
• By Application: Pharmaceutical, Personal Care, Cosmetics, Other Applications
• By Distribution Channel: Direct Tender, Retail Sales, Other Distribution Channels

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the alcohol excipients market in 2023 and is expected to continue its dominance. The region's growing elderly population, increasing prevalence of chronic diseases, and rising investments in pharmaceutical R&D are key factors driving this growth.

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Alcohol Excipients Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Alcohol Excipients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on alcohol excipients market size, alcohol excipients market drivers and trends, alcohol excipients market major players, competitors' revenues, market positioning, and market growth across geographies. The alcohol excipients market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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