The Nutraceutical Excipient Market is estimated to be valued at US$3.4 billion in 2020 and is expected to exhibit a CAGR of 7.3% over the forecast period 2020 to 2025, as highlighted in a new report published by Coherent Market Insights.
The Nutraceutical Excipient Market refers to the market for substances used in the formulation of nutraceutical products. Nutraceuticals are products that provide health benefits beyond basic nutrition and are often consumed for their potential therapeutic effects. Nutraceutical excipients are used to enhance the stability, bioavailability, and taste of these products. These excipients play a crucial role in the development and production of various nutraceutical formulations, including tablets, capsules, powders, and liquids. The demand for nutraceuticals has been increasing due to the growing awareness about preventive healthcare and the rising prevalence of chronic diseases. The use of excipients in nutraceutical formulations helps improve the delivery of active ingredients and enhances the overall efficacy of these products.
The Nutraceutical Excipient Market is primarily driven by the growing demand for functional foods and the increasing health consciousness among consumers. The rise in chronic diseases, such as obesity, diabetes, and cardiovascular diseases, has led to a shift in consumer preferences towards healthier food options. Nutraceuticals, which are known for their potential health benefits, have gained significant popularity among consumers. This has created a demand for nutraceutical excipients that can improve the stability, taste, and bioavailability of these products. Additionally, advancements in processing technology and the development of innovative excipients are further driving the growth of the market. However, stringent regulations and the high cost of excipients may hinder market growth to some extent.
The nutraceutical excipient market can be segmented based on type, functionality, and region. In terms of type, the dominating segment is the binders segment. Binders are essential in the formulation of tablets and capsules as they help in holding the active ingredients together. The increasing demand for tablets and capsules in the pharmaceutical industry is driving the growth of the binders segment. Additionally, binders also contribute to the overall stability and integrity of the dosage form, making them a crucial component. Other segments include fillers & diluents, disintegrants, coatings, lubricants & glidants, and flavoring agents.
The nutraceutical excipient market is influenced by government regulations and policies related to the pharmaceutical and food industries. Stringent regulations regarding the quality and safety of excipients have led to the adoption of standardized manufacturing processes.
The economic factors driving the nutraceutical excipient market include the growing healthcare sector, increasing disposable income, and changing consumer preferences towards natural and organic products.
The rising awareness about health and wellness among consumers has resulted in an increased demand for nutraceutical products. Consumers are seeking excipients that are safe, reliable, and provide enhanced bioavailability of active ingredients.
Technological advancements in excipient manufacturing, such as the development of novel delivery systems and improved solubility enhancers, are driving the growth of the nutraceutical excipient market.
The global nutraceutical excipient market is expected to witness high growth, exhibiting a CAGR of 7.3% during the forecast period. This growth is attributed to the increasing demand for nutraceutical products, advancements in excipient technology, and supportive government regulations.
In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the nutraceutical excipient market. The region has a large population base, growing disposable income, and increasing health-consciousness among consumers. Additionally, the presence of key players in the region and strategic investments in R&D activities further contribute to the market growth.
Key players operating in the nutraceutical excipient market include DuPont, P&G Chemicals, Eastman Chemical Corporation, Huntsman Corporation, Kerry Group plc, ABF, Roquette Freres, Ingredion, Meggle, Hilmar Ingredients, JRS Pharma, Sensient, Innophos, Cargill, IMCD, Avantor Performance Materials, Zydus Wellness, BASF SE, Lubrizol Corporation, Colorcon Inc., Finar Limited, and Shin-Etsu Chemical Co., Ltd. These key players are focusing on product innovation, strategic collaborations, and geographic expansion to gain a competitive advantage in the market.