The global cyclodextrin market is anticipated to grow at a significant CAGR of around 4.9% during the forecast period. The growing use of cyclodextrin in pharmaceutical industry is propelling  the market growth. Cyclodextrins are used to improve the aqueous solubility of poorly soluble drugs in pharmaceutical and nutraceutical products. They convert liquid drugs into microcrystalline powder or amorphous powder, which is then used to make tablets. They also reduce the irritation caused by gastrointestinal medications. Because of these factors, cyclodextrin has a high drug compatibility and is primarily used in pharmaceutical formulations. As it is less expensive and more readily available than other cyclodextrins, beta cyclodextrin is widely used in the production of Remdesivir injections as well. For instance, in March 2020, Gilead Sciences, Inc., an american biotech company, discovered and developed Remdesivir (GS-5734), a promising antiviral agent marketed as 'Veklury' for the treatment of COVID-19 infection. Overall, the COVID-19 is expected to have a moderate impact on the global cyclodextrin market's growth.

The increasing use of cyclodextrin in personal care products such as deodorants and antiperspirants from last few years has contributed significant share in the makret growth. Due to growing concern regarding use of chemical ingredients used in deodorants and antiperspirants, manufactueres are more focused towards using effective ingredients such as cyclodextrins, which in turn, creating huge scope for the market growth. 

Impact of COVID-19 Pandemic on Global Cyclodextrin Market

The COVID-19 pandemic had disrupted the manufacturing operations of various industries across the globe, which had drastically reduced the demand for cyclodextrin. Cyclodextrin has also become a major ingredient in the food processing and cosmetics and personal care industries, which has resulted in cyclodextrin use being reduced during the pandemic. Trade restrictions and disruptions in the supply chain have also hampered the growth of the cyclodextrin market. However, the COVID-19 pandemic has accelerated research efforts to find effective therapeutic methods for combating the COVID-19. The COVID-19 pandemic have a moderate impact on the global cyclodextrin market's growth.

Segmental Outlook 

The global cyclodextrin market is segmented based on the type and application. Based on the type, the market is sub-segmented into alpha- cyclodextrins, beta- cyclodextrins and gamma- cyclodextrins. Among these, beta-cyclodextrins segment is likely to show notable growth in the market during the forecast period. The growing demad for beta-cycodextrins in food industry as food additives to enhance the quality of the product is driving the market growth. Based on the application, the market is sub-segmented into the food and beverages, pharmaceuticals, cosmetics and personal care and others. 

Global Cyclodextrin Market Share by Application, 2020 (%)

The Food and Beverages Segment Projected to Hold Significant Share in the Global Cyclodextrin Market

Based on application, It is anticipated that the food and beverages segment will hold the significant share  in the global cyclodextrin market. Cyclodextrins have low immunogenicity and toxicity, making them suitable for use in food products. They also improve the sensorial qualities of food products and the overall appeal of the final product, which has increased the popularity of cyclodextrin among food and beverage manufacturers. Furthermore, they prevent contamination, extending the shelf life of final products significantly. As a result of mounting health concerns and rising illness incidences, prominent demand for fortified foods is expected to accelerate segmental growth during the forecast period. Moreover, the technological advancements along with emergence of new products are introducing cyclodextrin and its dervatives such as ?-Cyclodextrin a suitable compound for a broad range of applications in food & bevrages industry. 

Regional Outlooks

The global cyclodextrin market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  

Global Cyclodextrin  Market Growth, by Region 2021-2027

The North America Region Dominates the Major Share in the Global Cyclodextrin Market

Geographically, North America region dominated the makret by accounting highest share in 2020, and it is estimated that it will again going to dominate the makret with significant share inglobal cyclodextrin market, owing to the region's higher utilisation of cyclodextrin in various end-use industries. Cyclodextrin is in high demand, particularly in the cosmetics and personal care industries in the US. Due its ability to retain odour, cyclodextrin is being used by major personal care product manufacturers. Apart from these, the high prevalence of chronic diseases in the region has change consumer preference and choice whey it comes to buying chemical based food products. Consumer in the economies of the region are opting for natural ingredients based food supplemnts and diatery products and for this they are investing high amount. 

Market Players Outlook

The major companies serving the global cyclodextrin market include   and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In February 2021, RotaChrom Technologies has announced a partnership with Cyclolab Cyclodextrin Research and Development Laboratory Ltd. This strategic collaboration between Cyclolab and RotaChrom aims to develop a more efficient and cost-effective process for purifying Remdesivir, a widely used COVID-19 treatment option.

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

   • Key companies operating in the global cyclodextrin market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where’ in the market.