Pune, India -- (SBWIRE) -- 08/09/2018 -- Sodium Starch Glycolate Market – Market Overview
Sodium Starch Glycolate is the sodium salt of carboxymethyl ether. It is colorless, odorless, and tasteless free-flowing powder. It is produced by carboxy methylation of natural food starches such as potato, corn, wheat, rice, and others. It is widely used in pharmaceutical industry as a disintegrant in formulation of tablets and capsules owing to its ability to absorb water rapidly. It is being increasingly used to treat various diseases such as cardiovascular, depression, headache, and other chronic diseases. It is also used as a thickener and stabilizer for wallpaper adhesives and food products namely snacks, meat products & juices respectively. It is also used in cosmetics and beauty products due to its properties such as longevity in moisturization and smoothness.
Amongst the type of raw material used, potato starch accounted for the largest market share in 2017 and expected to continue dominating over the forecast period 2018-2023 owing to its low cost and easy availability. Amongst the various application of Sodium Starch Glycolate, the pharmaceutical application accounted for the largest market share of 40% and expected to continue leading over the forecast period 2018-2023 owing to factors such as changing lifestyle, rising tobacco consumption, and unhealthy diet routine which is resulting in increasing cardiovascular diseases. For instance, according to World Health Organization (WHO), 31% of the global mortalities are due to cardiovascular diseases.
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North America emerged as the largest market of Sodium Starch Glycolate due to presence of several biotechnological & pharmaceutical companies and evolving automotive industry in the U.S. region. Pharmaceutical and adhesive applications are expected to be majorly driving the Sodium Starch Glycolate Market. Europe is another substantial region in this market due to the extensive research and development activities in the region and high healthcare spending. Additionally, the Innovative Medicine Initiative by European Union (EU) and EFPIA is driving the demand for the Sodium Starch Glycolate. The Asia Pacific region is following North America and Europe in terms of market consumption and expected to show exponential growth over the forecast period. Rapid growth of Indian pharmaceutical industry owing to high budget allocation of healthcare sector in "Union budget 2018" is majorly driving the regional Sodium Starch and Glycolate Market. According to the Indian Brand Equity Foundation, Indian pharmaceutical market is expected to be valued over USD 100 billion by 2025. Furthermore, growing per capita income and rising health awareness among the consumers across the Asia Pacific region is projected to fuel the product demand in the healthcare industry during the forecast period. The Middle East & Africa and Latin America is accounted for the least share due to slow overall regional development.
Sodium Starch Glycolate Market – Competitive Analysis
The global market of Sodium Starch Glycolate is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the properties of Sodium Starch Glycolate.
Industry/ Innovation/ Related News:
June 2017- Roquette acquire Blancer's Brazil-based Itacel, an excipient division to meet the growing market demand of binders, fillers, and disintegrants. This acquisition is expected to expand footprint of Roquette in North America, Brazil, and Latin America region. Roquette's agreement includes intecel's manufacturing plant with R&D facilities along with its employee.
January 2017- JRS Pharma expanded its disintegrants plant facility in Gujarat Microwax of India. This expansion project increases its capacity to double its original capacity.EXPLOTAB® Sodium Starch Glycolate and VIVASOL® Croscarmellose Sodium are the two disintegrants brands of JRS Pharma.
September 2017- Chinese company Yung Zip Chemical Ind. co., Ltd. made an agreement with Anshul Life sciences, India regarding the distribution of its DST brand of Sodium Starch Glycolate (SSG). DST® brand of SSG is equipped with all the necessary regulatory documents. Anshul Life Sciences is having sufficient stocks &services to cater to the customer requirements with continuous uninterrupted supplies.
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