Polyvinylpyrrolidone Market, 2022-2030 - Nippon Shokubai Co. Ltd., JH Nanhang Industrial Co. Ltd., The Dow Chemical Company, Merck KGaA
Growing Demand for Packaged Food to Drive Polyvinylpyrrolidone Market
The global polyvinylpyrrolidone
market is expected to exhibit steady progress over the forecast period from
2018 to 2023, says the latest research report from Market Research Future
(MRFR). The global polyvinylpyrrolidone market is mainly driven by the growing
demand for polyvinylpyrrolidone from the pharmaceutical, cosmetics, and food
and beverage industries as an excipient and stabilizer. The report provides an
in-depth look at the global polyvinylpyrrolidone market’s key drivers and
restraints, along with a detailed economic breakdown to relate the
polyvinylpyrrolidone market’s growth trajectory with prevalent economic trends.
The leading players in the polyvinylpyrrolidone market are also profiled in the
report.
Polyvinylpyrrolidone is primarily
used as an excipient in the pharmaceutical and cosmetics industries. Growth of
these two industries in recent years has been highly beneficial for the
polyvinylpyrrolidone market. Growing healthcare expenditure has resulted in
growing pharmaceutical production, leading to a growing demand for components
such as polyvinylpyrrolidone. Cosmetics are also becoming an important FMCG
product in recent years due to the growing demand in developing economies. This
is likely to remain a major driver for the global polyvinylpyrrolidone market
over the forecast period. Growing prevalence of respiratory conditions in
developed economies is also likely to drive the demand for excipients, thus
driving the polyvinylpyrrolidone market.
Competitive Analysis:
Leading players in the global
polyvinylpyrrolidone market include Nippon Shokubai Co. Ltd., JH Nanhang
Industrial Co. Ltd., The Dow Chemical Company, Merck KGaA, Thermo Fisher
Scientific, Alfa Aesar, Shanghai Yuking Water Soluble Material Tech Co. Ltd.,
Hangzhou Motto Science & Technology Co. Ltd., Zhangzhou HuaFu Chemical Co.
Ltd., BASF SE, and Ashland. Leading players in the polyvinylpyrrolidone market
are likely to focus on capacity expansion as well as mergers and acquisitions
in the years ahead to achieve growth through organic as well as inorganic
means.
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The food and beverage industry is
also likely to remain a key consumer for the global polyvinylpyrrolidone
market. Polyvinylpyrrolidone is widely used in food and beverages as a
stabilizer, leading to a growing demand from the polyvinylpyrrolidone market.
Growing demand for packaged food is likely to be a major driver for the global
polyvinylpyrrolidone market in the coming years.
Segmentation:
The global polyvinylpyrrolidone
market is segmented by grade, application, and region.
Based on the grade, the
polyvinylpyrrolidone market is segmented into PVP K-15, PVP K-30, PVP K-60, PVP
K-90, and PVP K-120.
On the basis of application, the
global polyvinylpyrrolidone market is segmented into pharmaceuticals,
cosmetics, food & beverage, adhesives, and others. The pharmaceutical and
cosmetic products industries hold the largest share in the global polyvinylpyrrolidone
market, followed by food and beverages and adhesives. Growing demand from the
pharmaceutical industry is likely to remain a key driver for the global polyvinylpyrrolidone
market over the forecast period.
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Regional Analysis:
North America is the leading
region in the global polyvinylpyrrolidone market, followed by Asia Pacific and
Europe. The strong presence of healthcare-related industries in North America
has been a major driver for the global polyvinylpyrrolidone market, as the
pharmaceutical industry in the U.S. and Canada has grown steadily over the last
several years. The growing pharmaceutical industry in North America is likely
to remain the leading driver for the global polyvinylpyrrolidone market over
the forecast period. The growing demand for cosmetics and personal care
products in North America is also likely to be a key driver for the polyvinylpyrrolidone
market. Consumers in North America are highly aware about advanced cosmetics
and personal care products, and are among the leading consumers of the same all
over the world. This has led a growing demand for components used in these
formulations, such as polyvinylpyrrolidone. The immense demand for packaged
foods in North America is also a major driver for the polyvinylpyrrolidone
market.
Asia Pacific is the second-largest
regional market for polyvinylpyrrolidone. The growing pharmaceutical and food
and beverage industries in Asia Pacific are the major reason for the growth of
the polyvinylpyrrolidone market. The growing pharmaceutical industry in China,
India, and other leading regional economies is likely to be a major driver for
the polyvinylpyrrolidone market over the forecast period.
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