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| Nutraceutical Excipient Market |
Market Overview
The nutraceutical excipient market deals in processing aids and carrier
substances utilized for the manufacture of dietary supplements and functional
foods. Dietary supplements containing herbal extracts, vitamins, minerals,
probiotics, and other functional ingredients are seeing increased demand
worldwide for their perceived health benefits. Nutraceutical excipients such as
thickeners, binders, coatings, preservatives, flavors, and diluents are crucial
for developing user-friendly dosage forms like tablets, capsules, gummies, and
powders packaging these active ingredients. They ensure proper solubility,
adherence to manufacturing equipment, absorption through the gastrointestinal
tract, and extended shelf life.
The Global
Nutraceutical Excipient Market is estimated to be valued at US$ 3087.7 Bn in 2024 and is expected
to exhibit a CAGR of 3.4% over the
forecast period 2024 to 2030.
Key Takeaways
Key players operating in the nutraceutical excipient are Arkema S.A., Evonik
Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj,
Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC,
Hansol Chemical, and Nouryon. These companies offer customized solutions
depending on end-use requirements through their broad product portfolios.
In terms of opportunities, the emerging economies of Asia Pacific and Latin
America are witnessing rising per capita incomes and health awareness. This is
expected to drive the demand for dietary supplements and correspondingly for
nutraceutical excipients in these regions. Additionally, the shifting focus
toward herbal and plant-based ingredients as opposed to synthetic ones provides
new options for nutraceutical excipient manufacturers as well.
Globally, nutraceutical excipient companies are investing in R&D to develop
innovative delivery systems. They are also executing partnerships and
acquisitions for geographic and product portfolio expansions. This will help
them strengthen their positions and cater to the demands of foreign markets.
Market Drivers
One of the key drivers for the Nutraceutical
Excipient Market Demand is the growing consumer inclination toward
preventive healthcare and consumption of dietary supplements for their
perceived benefits in reducing risks of lifestyle diseases. The COVID-19
pandemic further highlighted the significance of a balanced diet and nutrition
in boosting immunity. This increased the sales of supplements containing
immunity-boosting ingredients like vitamins C & D.
Market Restraints
Stringent regulatory framework and complex approval procedures for new
excipients and their applications can hamper market growth. Regulatory
authorities especially in developed regions insist on extensive clinical
testing data to approve novel excipient types or formulations. High costs and
lengthy approval cycles associated with this process are major restraints.
Additionally, inconsistent standards across regions also create compliance
challenges for manufacturers having global operations.
Segment Analysis
The nutraceutical excipient market is dominated by prebiotics & probiotics
sub-segment. Prebiotics & probiotics assist in the growth of beneficial
microorganisms such as bifidobacteria and lactobacilli while reducing the
threat of pathogenic bacteria in our gut. They are well recognized for their
roles in enhancing the bioavailability and stability of nutraceutical
ingredients as well as improving the shelf life of finished products.
Prebiotics & probiotics are widely utilized in different forms like powder,
tablets, capsules, and liquids in dietary supplements and functional foods.
Another growing sub-segment is Table Granulation Materials which are hugely
popular as low moisture binders that allow for significant cost reduction by
making processes more efficient and yields higher.
Global Analysis
The North America region leads the nutraceutical excipient market due to rising
health awareness and growing use of dietary supplements. Increasing lifestyle
diseases and consumer preference for preventive healthcare in the U.S. and
Canada drives the demand for nutraceutical excipients in the region. The Asia
Pacific region shows the fastest growth in the global market owing to the
expanding nutraceuticals industry in developing countries like India and China.
Rising per capita income and growing middle-class population creates lucrative
opportunities for manufacturers in the Asia Pacific. The European region also
presents a substantial market scope during the forecast period. Factors such as
growing aging population and focus on functional foods shall propel the Europe
nutraceutical excipient market.
For more insights, read- https://www.pressreleasebulletin.com/nutraceutical-excipient-market-trends-size-and-share-analysis/
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