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Nutraceutical Excipients Market Size, Industry Overview, Trends, Growth Drivers, Top Companies, and Forecast

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Nutraceutical Excipients Market Size, Industry Overview, Trends, Growth Drivers, Top Companies, and Forecast

June 03
17:50 2024
Nutraceutical Excipients Market Size, Industry Overview, Trends, Growth Drivers, Top Companies, and Forecast
Nutraceutical Excipients Market by Product Source (Organic Chemicals, Inorganic Chemicals), Functionality (Binders, Colorants, Flavors & Sweeteners), End Product, Formulation, Functionality Application and Region – Global Forecast to 2028

The nutraceutical excipients market size is projected to reach USD 6.1 billion by 2028 from USD 4.2 billion by 2023, at a CAGR of 7.7% during the forecast period in terms of value. Increased focus on preventive care and consumption of supplements has led to a rising demand for nutraceutical excipients.   Innovations in processing technologies are leading to the creation of excipients with improved characteristics. Techniques such as spray drying, freeze-drying, and granulation are enabling the production of excipients with better flowability, compressibility, and consistency.

Nutraceutical Excipients Market

Nutraceutical Excipients Market Drivers: Advancements in nanotechnology have brought forth a myriad of innovative features that are poised to significantly propel the growth of the nutraceutical excipients market

Advancements in nanotechnology have introduced numerous innovative features that are set to significantly boost the growth of the nutraceutical excipients market. Working at the nanoscale, nanotechnology provides unique and beneficial functionalities for developing excipients in the nutraceutical industry. Nano-sized excipients are crucial in improving the solubility and bioavailability of active ingredients, which enhances nutrient absorption and utilization in the body, thereby increasing the effectiveness of nutraceutical products. Additionally, nanoscale excipients offer greater stability for sensitive nutrients, protecting them from degradation and extending the shelf life of nutraceuticals, ensuring their effectiveness over extended periods. Furthermore, nanotechnology facilitates the creation of targeted delivery systems, allowing precise delivery of nutrients to specific body tissues or cells. This targeted approach optimizes the efficacy of nutraceuticals while reducing potential adverse effects.

Nutraceutical Excipients Market Trends

The nutraceutical excipients market has been experiencing notable trends driven by increasing consumer demand for health and wellness products, advancements in technology, and regulatory changes. Here are some key trends shaping the market:

1. Rising Demand for Functional Foods and Dietary Supplements

Consumer Awareness: Increasing awareness about health and wellness is driving the demand for functional foods and dietary supplements. Consumers are looking for products that provide additional health benefits beyond basic nutrition.

Aging Population: The aging global population is seeking products that can help manage age-related health issues, leading to a surge in demand for nutraceuticals.

2. Innovation in Excipients

Improved Bioavailability: There is a growing focus on excipients that enhance the bioavailability of active ingredients, ensuring better absorption and effectiveness of nutraceutical products.

Natural and Organic Excipients: Consumers are increasingly favoring natural and organic excipients over synthetic ones, aligning with the clean label trend.

3. Technological Advancements

Encapsulation Technologies: Advances in encapsulation technologies are improving the stability and controlled release of nutraceutical ingredients.

Nanotechnology: The use of nanotechnology in excipient formulation is enhancing the solubility and bioavailability of poorly soluble active ingredients.

4. Regulatory Developments

Stricter Regulations: Regulatory bodies are imposing stricter guidelines on the quality and safety of nutraceutical products, driving the demand for high-quality excipients.

Harmonization of Standards: Efforts towards the harmonization of standards across regions are influencing the market dynamics, with manufacturers aiming to meet global standards.

5. Personalization of Nutraceuticals

Customized Solutions: There is a growing trend towards personalized nutrition, where products are tailored to individual health needs. This requires excipients that can support the customization of formulations.

Data-Driven Formulations: The use of data analytics and AI to develop personalized nutraceuticals is becoming more prevalent, necessitating adaptable and versatile excipients.

6. Sustainability and Eco-Friendly Practices

Sustainable Sourcing: Companies are focusing on sustainably sourced excipients to meet the rising demand for environmentally friendly products.

Green Manufacturing: There is an increasing adoption of green manufacturing processes to minimize environmental impact and ensure sustainable production practices.

7. Market Expansion and Strategic Collaborations

Geographical Expansion: Companies are expanding their presence in emerging markets to tap into the growing demand for nutraceuticals.

Collaborations and Partnerships: Strategic collaborations between nutraceutical companies and excipient manufacturers are becoming common to foster innovation and expand product portfolios.

8. Emerging Ingredients

Probiotics and Prebiotics: The incorporation of probiotics and prebiotics in nutraceutical products is on the rise, necessitating specific excipients to maintain their stability and efficacy.

Botanicals and Herbal Extracts: There is an increasing use of botanicals and herbal extracts in nutraceutical formulations, driving the need for suitable excipients that can handle these complex ingredients.

9. E-commerce and Direct-to-Consumer Models

Online Sales Growth: The growth of e-commerce and direct-to-consumer models is impacting the nutraceutical market, with excipients playing a crucial role in ensuring product stability during distribution and storage.

Consumer Education: Online platforms are also serving as a means to educate consumers about the benefits of various excipients used in nutraceutical products.

By focusing on these trends, companies in the nutraceutical excipients market can better align their strategies to meet evolving consumer demands and regulatory requirements, thereby achieving sustained growth and innovation in the industry.

The Fillers & Diluents segment is expected to hold the second largest market share in the functionality segment of nutraceutical excipients market.

Fillers and diluents are essential components in formulations, providing bulk and ensuring consistent dosages. Their primary function is to create uniform tablet sizes, streamline manufacturing processes, and ensure even nutrient distribution. Some fillers and diluents are specifically designed to aid in the disintegration and dissolution of tablets or capsules, promoting efficient breakdown in the digestive system for optimal nutrient absorption. Additionally, they enhance the flow characteristics of formulations, improve ingredient binding, reduce powder segregation, and boost compaction properties during production. As a result, the fillers and diluents segment is expected to play a crucial role in the functionality segment of nutraceutical excipients.

North America to dominate the nutraceutical excipients market during the forecast period.

North America is projected to lead the nutraceutical excipients market from 2023 to 2028, driven by several key factors. The region’s well-established nutraceutical market, coupled with its strong pharmaceutical and nutraceutical industries, provides an excellent foundation for excipient innovation. Known for its pioneering advancements, North America consistently invests in research and development, creating cutting-edge excipients with enhanced functionality, improved bioavailability, and precise nutrient delivery. This ongoing dedication to innovation positions North America at the forefront, attracting global industry players. Additionally, the region benefits from a well-developed retail infrastructure, which ensures easy access to nutraceuticals through various distribution channels, including online platforms, specialty stores, and traditional supermarkets, thereby promoting the growth of the nutraceutical excipients market.

Top Nutraceutical Excipients Companies

The key players in this include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.

Key Questions Addressed by the Nutraceutical Excipients Market Report:

Which are the major companies in the nutraceutical excipients market? What are their major strategies to strengthen their market presence?

What are the drivers and opportunities for the nutraceutical excipients market?

Which region is expected to hold the highest market share?

Which are the key technology trends prevailing in the nutraceutical excipients market?

What is the total CAGR expected to be recorded for the nutraceutical excipients market during 2023-2028?

Browse Related Reports:

Nutraceutical Ingredients Market

Dietary Supplements Market

Personalized Nutrition Market

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