Cyclodextrin Market

Cyclodextrin Market Outlook (2023 to 2033)

The Market for Cyclodextrin can be expected to grow at a value-based CAGR of ~6.3% and show an increase in revenue from US$ 8,676.5 in 2023 to around US$ 16,043.9 Million by 2033.

Cyclodextrin Consumption Analysis (2018 to 2022) Vs. Market Estimations (2023 to 2033)

The global cyclodextrin market has significantly grown to register a CAGR of ~5.6% in the historical period and was valued at US$ 8,676.5 Million in 2023. Cyclodextrins are crystalline, water-soluble, cyclic, non-reducing, oligosaccharides built up from six, seven, or eight glucopyranose units. Cyclodextrin is used in various industries as it contains highly versatile properties. The scope of the study covers the utilization of cyclodextrins throughout different applications including food, cosmetics, and pharmaceutical, among others.

Cyclodextrins are cyclic oligosaccharides consisting of glucopyranosyl units linked by α-(1,4) bonds. There are three types of cyclodextrin, namely, alpha-cyclodextrin, beta-cyclodextrin, and gamma-cyclodextrin. Beta-cyclodextrin is one of the primarily used cyclodextrins in different applications. Besides, cyclodextrin has numerous derivatives such as hydroxypropyl-ß- cyclodextrins, nonionic cyclodextrins, anionic cyclodextrins, mono-6-(fmoc-gln-otbu)-β-cyclodextrin, methyl-β-cyclodextrin (mixture of several methylated), and others. The availability of a high number of derivatives also increases the use of cyclodextrin in various end uses. Manufacturers is the cyclodextrin market are also increasingly introducing different derivatives for industries.

• For instance, in October 2018, Cyclolab introduced 6-monoguanidino-6-monodeoxy-βCD, which is a beta cyclodextrin derivative. The product is a unique and versatile compound and can be used in different applications.

The global market for cyclodextrin is estimated to reach an approximate valuation of US$ 16,043.9 Million in the forecast period.

What are the Key Trends in the Market for Cyclodextrin?

“Growing Inclusion of Cyclodextrin in Essential Oils”

The essential oil has become a major ingredient in various industries, such as cosmetics and personal care, aromatherapy, herbal medicines, and others. Cyclodextrin is being progressively utilized by essential oil manufacturers to retain the aroma. The essential oil contains two vital components - hydrocarbon and oxygenated compounds, which are responsible for the aromatic properties of oils. Furthermore, the availability of phytochemicals also plays an efficient role in its biological activities. Beta-cyclodextrin is applied in essential oils to protect them against the damaging effects of the environment, such as oxidation, degradation from heat and light, evaporation, and moisture, boding well for the expansion of the global cyclodextrin market size.

• For instance, in cinnamon oil and clove oil, cyclodextrin is added from a freeze-dying method. On the other hand, in camomile oil, lemon oil, lippia gracilis oil, and black pepper oil, beta-cyclodextrin is added by co-precipitation

“Growing Demand for Low-Cholesterol Food Products”

High cholesterol in the body may be responsible for cardiovascular diseases, which further rises the concern about bad cholesterol amount in food products. This has compelled food manufacturers to target the production of low-cholesterol food products. Cyclodextrin plays a vital role in the production process as its donut-shaped molecule structure attracts bad traps, bad cholesterol, and other fatty lipids in it. The use of cyclodextrins has increased to remove cholesterol from milk, butter, and other dairy products. Moreover, during the cholesterol extraction process, cyclodextrins do not affect the essential fatty acid composition.

“Increasing Drug Formulation for Infectious Disease”

As global concern about infectious diseases has grown, there has been increasing demand for therapeutic formulations for these diseases. Pharmaceutical companies are expanding their investments in the creation of more effective medications. Alpha and beta cyclodextrins are majorly used for the production of pharmaceutical products. Cyclodextrin increases the solubility and bioavailability of pharmaceutical products.

• For instance, in May 2020, Cyclolab teamed up with the University of California, Berkeley, Excivion to develop the antiviral potential of cyclodextrins against SARS-CoV-2, since, cyclodextrins became excipients for important drugs against cancer and viral infections.

“Cyclodextrin Used for Environmental Protection Aiding Market Growth”

Climate change has become a major concern for the world. Scientists and world leaders are welcoming all possible solutions to reduce climate change effects and protect the environment. Cyclodextrin also has a key use in environment protection, as it can reduce the amount of toxic chemicals that are generated during industrial production.

Trichlorfon, a toxic chemical, can be intoxicated, and 90% of the harmful material is eliminated by the addition of cyclodextrin complexes. Moreover, the inclusion of environmental contaminants with β-Cyclodextrin is found to be an effective solution to reduce the release of harmful chemicals into the environment. Increasing the use of cyclodextrin to protect the environment is offering a growth opportunity for the cyclodextrin market space.

“High Pricing of Cyclodextrin is Limiting Market Growth”

Cyclodextrin, which includes alpha- and gamma-cyclodextrin, is one of the most expensive chemicals. Cyclodextrin is known as a starch derivative and obtaining the cyclodextrin from starch is a costly process, which further impact the price of cyclodextrin derivatives. Moreover, less production outcome with limited supply is also a considerable factor that leads to high pricing of alpha-cyclodextrin and gamma-cyclodextrin. Since alpha and gamma-cyclodextrin are highly applicable in pharma and cosmetics applications, they can further affect the cost of finished products. Hence, the high price of cyclodextrin is impeding the growth of the cyclodextrin market.

Country-Wise Insights

What is the Value Share Held by Europe for the Cyclodextrin Market?

European countries are also prominent producers of cyclodextrin which is used in various applications. Moreover, the use of cyclodextrin in the pharmaceutical industry is also increasing in the region. With the use of cyclodextrins, stable aqueous solutions of insoluble compounds can be prepared without the use of organic co-solvents or surfactants and the rate of dissolution can be enhanced.

China currently holds a value share of 40.9% in the East Asian market and a valuation of US$ 153.6 Million in 2023.

What is the Demand Outlook in North American Region for Cyclodextrin?

The North America region holds 32.0% of the current market share and is valued at US$ 2,841.9 Million in 2023.

North America has a prominent cyclodextrin market share, attributable to the higher utilization of cyclodextrin in various end-use industries in the region. Cyclodextrin is witnessing high demand, especially from the cosmetics and personal care industry in the United States Key personal care product manufactures are adopting cyclodextrin due to its odour retention ability.

Category-Wise Insights

Which Application of Cyclodextrin Accounts the High Market Growth?

Based on the application, the global market cyclodextrin is segmented into food industry, cosmetic & personal care, and pharmaceutical, among others. Others includes the textile, food packaging, analytical chemistry, and others. The cosmetic & personal care segment is further sub segmented into skin care products, hair care products, and antiperspirant and deodrants.

The pharmaceutical industry is expected to grow at the highest CAGR of ~7.0% during the forecast period (2023-2033). Cyclodextrin molecules are considered GRAS and eco-friendly alternatives to various finishing, carrier, and stabilizing agents. Government support in various countries is estimated to have a positive influence on the cyclodextrin market.

The higher number of applications, availability as well as lower cost, prove advantageous factors for the growing cyclodextrin demand from the pharmaceutical sector. Furthermore, growing cyclodextrins use for infectious drug formulation is also a promising factor for the pharmaceutical industry. Thus, pharmaceutical manufacturers are actively looking into cyclodextrin, leading to its increasing demand in the global market. Additionally, some of the advantageous results of cyclodextrin and its derivatives in drugs are it improves ability from solid or semi-solid formulations, enhances stability, increases shelf-life, reduces side effects, and many others.

Competitive Dashboard

Key manufacturers are targeting product offerings especially towards manufacturers operating in the cyclodextrin industry. Multinational companies with a wide variety of products account for roughly 35-40% of the global cyclodextrin industry. Wacker Chemie AG, Cycolab, Roquette Frères, and Ashland, among others, are some of the major players operating in the global cyclodextrin market. Regional players account for a market share of 25-35%, while local players account for 10-20%. The latter is engaged in the business of providing cyclodextrin, operates at a small scale, and is more export-oriented.

• In July 2020, Wacker Chemie AG announced that its Alpha-cyclodextrins product Cavamax W6 improves the foaming of barista toppings. The company's product can enhance the foamy qualities of several beverages, including cappuccino, latte macchiato, and café au lait.
• In May 2019, Roquette Frères established its new R & D laboratory in Lithuania. The opening of the new center is part of the company’s plan to strengthen its presence in Northern Europe. New research labs are expected to provide benefits for customers, academia, and the local economy.
• Beta-cyclodextrin offered by Tocopharm Co. Limited is used to solubilize non-polar compounds such as fatty acids, lipids, and cholesterol. The product is an active ingredient of household odor eliminator. Beta-cyclodextrin is also founded in the ingredient list of personal care products such as toothpaste, skin creams, and dusting powders.
• Tokyo Chemical Industry Co., Ltd. offers 25 different cyclodextrin products, which include alpha-cyclodextrin, beta-dextrin, and gamma-dextrin. The company mainly manufactures cyclodextrin products in Japan and distributes across the globe.

Cyclodextrin Industry Report Scope

Cyclodextrin Industry Research by Category

By Type:

• Alpha-Cyclodextrin
• Beta-Cyclodextrin
• Gamma-Cyclodextrin

By Application:

• Food Industry
• Pharmaceutical
• Cosmetic & Personal Care
  • Skin Care Products
  • Hair Care Products
  • Antiperspirant and Deodrants
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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