Pharmaceutical Excipients Market worth $15.99 billion by 2031 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Oct. 9, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the Pharmaceutical Excipients Market is projected to reach USD 15.99 billion by 2031 from USD 11.95 billion in 2026, at a CAGR of 10.2% during the forecast period.

Browse 1027 market data Tables and 60 Figures spread through 654 Pages and in-depth TOC on 'Pharmaceutical Excipients Market- Global Forecast to 2031'

Pharmaceutical Excipients Market Size & Forecast:

• Market Size Available for Years: 2026–2031
• 2026 Market Size: USD 11.95 billion
• 2031 Projected Market Size: USD 15.99 billion
• CAGR (2026–2031): 10.2%

Pharmaceutical Excipients Market Trends & Insights:

• Asia Pacific is the fastest-growing regional segment growing at a CAGR of 6.7% during the forecast period.
• The organic chemical products segment is expected to account for the largest share of 86.2% in 2025.
• The topical formulation segment by formulation is expected to grow at the highest CAGR from 2026 to 2031.

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The pharmaceutical excipients market is experiencing growth due to several key factors, such as the increasing demand for generic drugs and pharmaceutical products and increased R&D investments to develop novel excipients.

Recent advancements and regulatory shifts have significantly reshaped the pharmaceutical excipients market. The US FDA's Novel Excipient Review Pilot Program allows independent assessment of new excipients, accelerating innovation. The rise of biologics and mRNA therapies has increased the demand for lipid nanoparticles and advanced stabilizers, driving investments by companies like Evonik and BASF. Additionally, 3D printing technologies are fostering the development of printable excipients for personalized medicine. There is also growing interest in clean-label, plant-based excipients due to consumer and regulatory pressures. Together, these trends are pushing the industry toward safer, more functional, and highly specialized excipient solutions.

The organic chemicals segment accounted for the largest share, by product, in the pharmaceutical excipients market in 2025.

The global pharmaceutical excipients market is segmented by product type into three main categories: organic chemicals, inorganic chemicals, and other chemicals. Among these, organic chemicals comprise compounds primarily made up of carbon atoms bonded with other elements through covalent bonds. These substances are commonly used in pharmaceutical formulations due to their favorable chemical properties and compatibility with active pharmaceutical ingredients (APIs). One of the key advantages of organic chemicals is their generally non-toxic nature, making them safer for drug development and manufacturing. This characteristic is anticipated to significantly contribute to the growth of the organic chemicals segment within the excipients market. As the pharmaceutical industry continues to expand and innovate, the demand for safe and effective excipients is expected to rise. Consequently, the organic chemicals segment is likely to play a crucial role in propelling the overall pharmaceutical excipients market forward during the forecast period. The increasing focus on patient safety, regulatory compliance, and formulation efficiency further strengthens the market outlook for organic excipients. As a result, organic chemicals are positioned to remain a dominant and growing category in the global pharmaceutical excipients landscape over the coming years.

The lubricants & glidants segment will be the second-fastest-growing segment by functionality in the pharmaceutical excipients market.

The lubricants & glidants segment is expected to register the second-fastest growth rate in the pharmaceutical excipients market during the forecast period. This growth is largely driven by their critical role in improving manufacturing efficiency. Lubricants and glidants are essential in solid dosage formulations, particularly tablets and capsules, as they help reduce interparticle friction and minimize cohesion among powder particles. By improving powder flow, these excipients enable smoother tablet compression and encapsulation, leading to more consistent product quality and reduced production downtime. In high-speed manufacturing environments, where precision and efficiency are paramount, lubricants and glidants significantly decrease the risk of mechanical issues such as sticking, picking, or clogging equipment. Furthermore, the demand for scalable and cost-effective pharmaceutical production processes continues to rise, especially with the increasing global need for solid oral medications. These factors collectively contribute to the growing importance of lubricants and glidants in formulation development, making them a key segment with strong future potential in the evolving pharmaceutical excipients landscape.

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Asia Pacific is expected to grow at the highest CAGR in the pharmaceutical excipients market over the forecast period.

The market for pharmaceutical excipients is divided into six segments: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific region is expected to experience the fastest growth in the pharmaceutical excipients market over the forecast period. This expansion is primarily fueled by the rapid development of pharmaceutical manufacturing capabilities, advancements in research and development infrastructure, and increasing regulatory harmonization across key countries in the region. China, India, and South Korea are making substantial investments in domestic pharmaceutical production to meet local and global demand. The growing availability of skilled professionals and improvements in technical education have supported high-quality drug formulation. The surge in chronic and infectious diseases, combined with the increasing penetration of health insurance and improved access to healthcare services, is driving the consumption of pharmaceutical products. Strategic collaborations between regional firms and global pharmaceutical players further boost innovation and market growth. Together, these factors position Asia Pacific as a major hub for future growth in the global pharmaceutical excipients market.

Key Players

Leading players in the Pharmaceutical Excipients companies include Roquette Frères (France), ADM (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Inc. (US), Kerry Group plc (Ireland), MERCK KGaA (Germany),  Associated British Foods plc (UK), Wacker Chemie AG (Germany), Air Liquide (France), DOW (US), Berkshire Hathaway Inc. (US), Colorcon (US), DFE PHARMA (Germany), Actylis (US), Croda International Plc (UK), Gattefossé (France), JRS Pharma (Germany),  and Shin-Etsu Chemical Co., Ltd. (Japan).

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Pharmaceutical Excipients Market - Investment & funding +Merger & Acquisition

Investment and Funding Context

Investment activity in the pharmaceutical excipients market is increasingly concentrated around portfolio consolidation, expansion of specialty-excipient capacity, regional supply security, and formulation-enabling technologies. Large suppliers are directing capital toward functional polymers, pharmaceutical cellulose, high-purity biopharma ingredients, film coatings, inhalation excipients, and technical application centers rather than only adding commodity capacity. The objective is to strengthen positions in higher-value drug-delivery applications while reducing supply-chain risk for regulated pharmaceutical customers.

The funding profile of the market is dominated by strategic corporate investment and acquisition financing rather than venture-capital funding. The most significant recent transaction was Roquette's acquisition of IFF Pharma Solutions, which materially expanded Roquette's global excipient and drug-delivery portfolio. At the same time, companies including Evonik, BASF, Shin-Etsu Chemical, Colorcon, Croda, and DFE Pharma have continued to invest in manufacturing, quality infrastructure, formulation support, and regional capacity. These investments indicate that future competitive advantages will increasingly depend on scale, regulatory-grade manufacturing, customer proximity, and technical support in complex formulations.

Revenue Shift Context

The pharmaceutical excipients market is gradually shifting from a largely volume-driven revenue structure dominated by conventional excipients toward a broader mix of specialty, multifunctional, and formulation-enabling products. Revenue generation is increasingly influenced by the complexity of drug molecules, the growing number of poorly soluble APIs, expansion of modified-release and specialty formulations, adoption of biologics and peptide therapeutics, regulatory expectations, and the ability of suppliers to provide consistent quality, technical support, and secure global supply. Conventional products such as sugars, starches, mineral salts, and basic fillers continue to represent important revenue pools, while higher-value categories such as functional polymers, solubilizers, advanced coatings, cyclodextrins, co-processed excipients, and high-purity parenteral excipients are gaining importance.

As formulation complexity increases, revenue is expected to shift toward suppliers capable of offering differentiated excipient technologies, broad application coverage, regulatory documentation, and formulation-development support. Strategic acquisitions and portfolio expansion, such as Roquette's acquisition of IFF Pharma Solutions, are also reshaping competitive revenue distribution by consolidating specialty excipient capabilities under larger suppliers. Over the forecast period, growth is therefore expected to increasingly favor companies with strong positions in bioavailability enhancement, controlled release, oral peptide delivery, advanced coatings, high-purity excipients, and integrated formulation solutions, supported by reliable manufacturing networks and global customer reach.

Recent investment and funding activity

Recent investment and funding activity in the pharmaceutical excipients market reflects a clear shift toward capacity expansion, portfolio broadening, specialty excipient development, and geographic supply-chain strengthening. Leading suppliers are directing capital toward high-growth areas such as functional polymers, cellulose-based excipients, advanced coatings, high-purity grades, bioavailability-enhancing systems, and integrated formulation solutions, while acquisitions are being used to accelerate access to differentiated technologies and established customer bases. These investments are also aimed at improving manufacturing resilience, regulatory compliance, and regional availability, indicating that future competitive advantage will increasingly depend on both product innovation and the ability to provide reliable, scalable, and technically supported excipient supply.

PHARMACEUTICAL EXCIPIENTS MARKET: RECENT INVESTMENT AND FUNDING ACTIVITY

Company Revenue Share Details

The total market share of the top five players in the pharmaceutical excipients market is estimated at around 25–30%, indicating a competitive market with a moderately concentrated group of global suppliers alongside a large number of regional and specialty manufacturers. Leading companies include Roquette, ADM, BASF, Evonik, Ashland, Kerry Group, Associated British Foods, Wacker Chemie, Air Liquide, Lubrizol (Berkshire Hathway), Colorcon, DFE Pharma, Actylis, Croda, Gattefossé, JRS Pharma and Shin-Etsu Chemical, among others. These companies have established positions across major excipient categories, including carbohydrates, cellulose derivatives, functional polymers, polyols, surfactants, lubricants, coatings, solubilizers, controlled-release materials, and high-purity excipients used across oral, parenteral, topical, and other dosage forms.

The competitive landscape is shaped by differences in portfolio breadth, excipient functionality, regulatory and pharmacopeial compliance, manufacturing scale, geographic reach, technical support, supply reliability, and customer qualification status. The coexistence of large diversified chemical and ingredient companies with specialized excipient suppliers creates substantial scope for continued competition, acquisitions, portfolio expansion, capacity investments, and formulation partnerships. Competitive intensity is expected to increase over the forecast period as suppliers strengthen their positions in specialty and multifunctional excipients, solubility and bioavailability enhancement, modified-release systems, advanced coatings, oral peptide delivery, and high-purity parenteral applications, while also focusing on sustainable sourcing, regional supply security, and stronger formulation-development support.

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