Chem Reports predicts that the Excipients Market was valued at USD xxxx units in 2025 and is projected to reach USD xxxx units by 2035, expanding at a CAGR of xx% during the forecast period.
Global Excipients Market Overview
The Global Excipients Market Report 2024 provides a comprehensive analysis of market dynamics, structural trends, value chain developments, and market size evolution. The study evaluates historical and current market performance to forecast future growth prospects from 2025 to 2035.
This research draws on both primary and secondary data sources and examines a wide range of factors influencing the market, including:
Excipients—non‑active components used in drug formulations—play a critical role in ensuring stability, bioavailability, manufacturability, and patient acceptability of pharmaceutical products. Growing demand for advanced drug delivery systems, biologics, and high‑performance formulations continues to drive global excipient consumption.
Impact of COVID‑19 on the Excipients Market
The COVID‑19 outbreak in late 2019 evolved into a global health emergency, disrupting supply chains, pharmaceutical manufacturing, and global logistics. The Excipients market experienced notable impacts in 2020, including:
Despite short‑term challenges, the market rebounded strongly as pharmaceutical production surged and global healthcare demand increased.
Global Excipients Market Segmentation
By Type
By Application
Regional Analysis
The market is segmented geographically into:
North America and Europe remain dominant markets due to strong pharmaceutical manufacturing bases, stringent regulatory frameworks, and high adoption of advanced excipients. Asia‑Pacific is expected to witness the fastest growth driven by expanding generic drug production, increasing healthcare investments, and rising demand for affordable medicines.
Top Key Players
Major companies operating in the Excipients market include:
These companies focus on product innovation, high‑purity excipient development, regulatory compliance, and strategic partnerships to strengthen their global market presence.
Segmentation Summaries
By Type
Organic Excipients
Organic excipients—including polymers, carbohydrates, and proteins—represent the largest segment due to their wide use in oral, topical, and controlled‑release formulations. They offer excellent biocompatibility, stability, and versatility. Common examples include cellulose derivatives, starches, sugars, and povidone. Their role in enhancing solubility, binding, and drug release profiles drives strong demand.
Inorganic Excipients
Inorganic excipients include minerals, salts, and metal oxides such as calcium phosphate, silica, and magnesium stearate. They are widely used as fillers, lubricants, glidants, and stabilizers. Their chemical stability and cost‑effectiveness make them essential in solid dosage forms and parenteral formulations.
By Application
Oral Formulations
The largest application segment. Excipients are used as binders, disintegrants, fillers, lubricants, and coating agents in tablets, capsules, and powders. Growth in generic drug production and patient‑friendly dosage forms supports this segment.
Topical Formulations
Includes creams, gels, ointments, and lotions. Excipients such as emulsifiers, humectants, and stabilizers enhance texture, absorption, and product stability. Rising demand for dermatology and cosmetic formulations drives growth.
Parenteral Formulations
Used in injectables, vaccines, and biologics. High‑purity excipients such as buffers, tonicity agents, and solubilizers are essential for safety and stability. Growth in biologics and biosimilars significantly boosts this segment.
Other Formulations
Includes ophthalmic, inhalation, and transdermal products. These applications require highly specialized excipients with strict regulatory compliance.
Market Drivers, Restraints & Opportunities
Market Drivers
1. Growth in Pharmaceutical and Biopharmaceutical Production
Rising demand for generics, biologics, and advanced therapies increases the need for high‑performance excipients.
2. Increasing Adoption of Novel Drug Delivery Systems
Controlled‑release, taste‑masking, and solubility‑enhancing excipients are in high demand.
3. Expansion of the Global Healthcare Sector
Aging populations and rising chronic disease prevalence drive pharmaceutical consumption.
4. Regulatory Emphasis on Drug Quality and Stability
Stricter standards encourage the use of high‑purity, multifunctional excipients.
Market Restraints
1. Stringent Regulatory Requirements
Excipients must meet strict safety, purity, and compatibility standards, increasing development costs.
2. High Cost of Specialty Excipients
Advanced excipients used in biologics and controlled‑release formulations can be expensive.
3. Limited Innovation in Some Excipient Categories
Many traditional excipients have reached maturity, slowing innovation in certain segments.
4. Supply Chain Vulnerabilities
Dependence on specific raw materials and global suppliers can lead to disruptions.
Market Opportunities
1. Rising Demand for Biologics and Biosimilars
Biopharmaceuticals require specialized excipients for stability and delivery, creating high‑value opportunities.
2. Growth in Emerging Markets
Asia‑Pacific and Latin America are expanding pharmaceutical manufacturing capacity.
3. Development of Co‑processed and Multifunctional Excipients
These enhance formulation efficiency and performance, appealing to manufacturers.
4. Increasing Use of Excipients in Nutraceuticals
The booming nutraceutical sector requires excipients for tablets, capsules, and functional foods.
Porter’s Five Forces Analysis
1. Threat of New Entrants — Moderate
High regulatory barriers and the need for specialized manufacturing limit new entrants, but growing demand attracts regional players.
2. Bargaining Power of Suppliers — Moderate
Suppliers of raw materials such as cellulose, minerals, and polymers hold moderate influence, especially during shortages.
3. Bargaining Power of Buyers — High
Pharmaceutical companies demand high‑quality excipients and often negotiate aggressively due to the availability of multiple suppliers.
4. Threat of Substitutes — Low to Moderate
While alternative excipients exist, substitution is limited by regulatory approvals and formulation compatibility.
5. Industry Rivalry — High
Competition is intense among global chemical and ingredient manufacturers focusing on purity, performance, and regulatory compliance.
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
1. Market Overview of Excipients
1.1 Excipients Market Overview
1.1.1 Excipients Product Scope
1.1.2 Market Status and Outlook
1.2 Excipients Market Size by Regions:
1.3 Excipients Historic Market Size by Regions
1.4 Excipients Forecasted Market Size by Regions
1.5 Covid-19 Impact on Key Regions, Keyword Market Size YoY Growth
1.5.1 North America
1.5.2 East Asia
1.5.3 Europe
1.5.4 South Asia
1.5.5 Southeast Asia
1.5.6 Middle East
1.5.7 Africa
1.5.8 Oceania
1.5.9 South America
1.5.10 Rest of the World
1.6 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth
1.6.1 Covid-19 Impact: Global GDP Growth, Projections
1.6.2 Covid-19 Impact: Commodity Prices Indices
1.6.3 Covid-19 Impact: Global Major Government Policy
2. Covid-19 Impact Excipients Sales Market by Type
2.1 Global Excipients Historic Market Size by Type
2.2 Global Excipients Forecasted Market Size by Type
2.3 Organic Excipients
2.4 Inorganic Excipients
3. Covid-19 Impact Excipients Sales Market by Application
3.1 Global Excipients Historic Market Size by Application
3.2 Global Excipients Forecasted Market Size by Application
3.3 Oral Formulations
3.4 Topical Formulations
3.5 Parenteral Formulations
3.6 Other Formulations
4. Covid-19 Impact Market Competition by Manufacturers
4.1 Global Excipients Production Capacity Market Share by Manufacturers
4.2 Global Excipients Revenue Market Share by Manufacturers
4.3 Global Excipients Average Price by Manufacturers
5. Company Profiles and Key Figures in Excipients Business
5.1 Ashland
5.1.1 Ashland Company Profile
5.1.2 Ashland Excipients Product Specification
5.1.3 Ashland Excipients Production Capacity, Revenue, Price and Gross Margin
5.2 BASF
5.2.1 BASF Company Profile
5.2.2 BASF Excipients Product Specification
5.2.3 BASF Excipients Production Capacity, Revenue, Price and Gross Margin
5.3 DOW
5.3.1 DOW Company Profile
5.3.2 DOW Excipients Product Specification
5.3.3 DOW Excipients Production Capacity, Revenue, Price and Gross Margin
5.4 Roquette
5.4.1 Roquette Company Profile
5.4.2 Roquette Excipients Product Specification
5.4.3 Roquette Excipients Production Capacity, Revenue, Price and Gross Margin
5.5 FMC
5.5.1 FMC Company Profile
5.5.2 FMC Excipients Product Specification
5.5.3 FMC Excipients Production Capacity, Revenue, Price and Gross Margin
5.6 Evonik
5.6.1 Evonik Company Profile
5.6.2 Evonik Excipients Product Specification
5.6.3 Evonik Excipients Production Capacity, Revenue, Price and Gross Margin
5.7 Lubrizol
5.7.1 Lubrizol Company Profile
5.7.2 Lubrizol Excipients Product Specification
5.7.3 Lubrizol Excipients Production Capacity, Revenue, Price and Gross Margin
5.8 Associated British Foods
5.8.1 Associated British Foods Company Profile
5.8.2 Associated British Foods Excipients Product Specification
5.8.3 Associated British Foods Excipients Production Capacity, Revenue, Price and Gross Margin
5.9 Croda International
5.9.1 Croda International Company Profile
5.9.2 Croda International Excipients Product Specification
5.9.3 Croda International Excipients Production Capacity, Revenue, Price and Gross Margin
5.10 Archer Daniels Midland
5.10.1 Archer Daniels Midland Company Profile
5.10.2 Archer Daniels Midland Excipients Product Specification
5.10.3 Archer Daniels Midland Excipients Production Capacity, Revenue, Price and Gross Margin
6. North America
6.1 North America Excipients Market Size
6.2 North America Excipients Key Players in North America
6.3 North America Excipients Market Size by Type
6.4 North America Excipients Market Size by Application
7. East Asia
7.1 East Asia Excipients Market Size
7.2 East Asia Excipients Key Players in North America
7.3 East Asia Excipients Market Size by Type
7.4 East Asia Excipients Market Size by Application
8. Europe
8.1 Europe Excipients Market Size
8.2 Europe Excipients Key Players in North America
8.3 Europe Excipients Market Size by Type
8.4 Europe Excipients Market Size by Application
9. South Asia
9.1 South Asia Excipients Market Size
9.2 South Asia Excipients Key Players in North America
9.3 South Asia Excipients Market Size by Type
9.4 South Asia Excipients Market Size by Application
10. Southeast Asia
10.1 Southeast Asia Excipients Market Size
10.2 Southeast Asia Excipients Key Players in North America
10.3 Southeast Asia Excipients Market Size by Type
10.4 Southeast Asia Excipients Market Size by Application
11. Middle East
11.1 Middle East Excipients Market Size
11.2 Middle East Excipients Key Players in North America
11.3 Middle East Excipients Market Size by Type
11.4 Middle East Excipients Market Size by Application
12. Africa
12.1 Africa Excipients Market Size
12.2 Africa Excipients Key Players in North America
12.3 Africa Excipients Market Size by Type
12.4 Africa Excipients Market Size by Application
13. Oceania
13.1 Oceania Excipients Market Size
13.2 Oceania Excipients Key Players in North America
13.3 Oceania Excipients Market Size by Type
13.4 Oceania Excipients Market Size by Application
14. South America
14.1 South America Excipients Market Size
14.2 South America Excipients Key Players in North America
14.3 South America Excipients Market Size by Type
14.4 South America Excipients Market Size by Application
15. Rest of the World
15.1 Rest of the World Excipients Market Size
15.2 Rest of the World Excipients Key Players in North America
15.3 Rest of the World Excipients Market Size by Type
15.4 Rest of the World Excipients Market Size by Application
16 Excipients Market Dynamics
16.1 Covid-19 Impact Market Top Trends
16.2 Covid-19 Impact Market Drivers
16.3 Covid-19 Impact Market Challenges
16.4 Porter?s Five Forces Analysis
18 Regulatory Information
17 Analyst's Viewpoints/Conclusions
18 Appendix
18.1 Research Methodology
18.1.1 Methodology/Research Approach
18.1.2 Data Source
18.2 Disclaimer
Global Excipients Market Segmentation
By Type
By Application
Regional Analysis
The market is segmented geographically into:
North America and Europe remain dominant markets due to strong pharmaceutical manufacturing bases, stringent regulatory frameworks, and high adoption of advanced excipients. Asia‑Pacific is expected to witness the fastest growth driven by expanding generic drug production, increasing healthcare investments, and rising demand for affordable medicines.
Top Key Players
Major companies operating in the Excipients market include:
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