Market Overview:
The Nutraceutical Excipients Market is estimated to be valued at US$ 2,427.8 million in 2022 and is expected to exhibit a CAGR of 10.4% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The Nutraceutical Excipients Market involves the use of various excipients such as fillers, binders, lubricants, and disintegrants in the production of nutraceutical products. These excipients play a crucial role in enhancing the stability, solubility, bioavailability, and overall performance of nutraceutical formulations.
Market Dynamics:
The Nutraceutical Excipients Market is driven by various factors that are expected to fuel market growth in the coming years.
One of the key drivers is the increasing demand for functional food and dietary supplements among consumers. With growing awareness about the importance of a healthy lifestyle, consumers are increasingly inclined towards nutraceutical products to meet their nutritional needs.
Another driver is the rising prevalence of chronic diseases and the growing aging population. Nutraceutical products are known for their potential health benefits and preventive measures. This has led to increased demand for nutraceutical excipients in the pharmaceutical industry.
Overall, the Nutraceutical Excipients Market is expected to witness significant growth due to the increasing demand for functional food and dietary supplements, along with the rising prevalence of chronic diseases.
Market Key Trends:
The key trend in the nutraceutical excipients market is the increasing demand for functional and fortified foods. Consumers are becoming more health-conscious and are seeking products that offer additional nutritional benefits. Nutraceutical excipients play a crucial role in developing functional and fortified food products by enhancing their nutritional content, stability, and delivery. With the rising prevalence of chronic diseases and the growing demand for preventive healthcare, the market for functional and fortified foods is expected to witness substantial growth. Manufacturers are focusing on incorporating various nutraceutical excipients such as vitamins, minerals, fiber, and antioxidants to develop innovative products that cater to the changing consumer preferences and dietary needs.
SWOT Analysis:
Strength: Nutraceutical excipients offer enhanced stability and bioavailability to the functional and fortified food products, ensuring the delivery of desired health benefits to consumers.
Weakness: Limited awareness about the benefits of nutraceutical excipients among consumers and regulatory challenges regarding health claims on nutraceutical products.
Opportunity: The increasing aging population and rising healthcare costs are driving the demand for preventive healthcare products, creating lucrative opportunities for nutraceutical excipients manufacturers.
Threats: Stringent regulations and quality standards imposed by regulatory authorities and the availability of alternative ingredients may hinder the growth of the nutraceutical excipients market.
Key Takeaways:
The global nutraceutical excipients market is expected to witness high growth, exhibiting a CAGR of 10.4% over the forecast period of 2022-2030. This growth can be attributed to the increasing demand for functional and fortified foods, driven by rising health consciousness among consumers and the prevalence of chronic diseases.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the nutraceutical excipients market. The region has a well-established food and pharmaceutical industry, along with a high consumer inclination towards functional foods.
Key players operating in the nutraceutical excipients 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, partnerships, and acquisitions to expand their market presence and cater to the growing demand for nutraceutical excipients.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
