The rising awareness among people about maintaining their health with nutritional supplements is boosting the demand for nutraceutical excipients globally. Nutraceutical excipients are foodgrade non-active substances that serve as bulking and binding agents, coatings, disintegrants, and other essential functions in nutritional supplements and fortified foods. They help improve the functionality, stability, and absorption of active ingredients. Common nutraceutical excipients include gelatin, cellulose derivatives, and mineral salts. Nutritional supplements containing vitamins, minerals, fibers, proteins, omega-3 fatty acids, and herbal extracts are widely used. They promote digestive, heart, brain, and bone health.
The global nutraceutical excipient market is estimated to be valued at US$ 2680.29 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The extensive demand for nutraceutical supplements from health-conscious consumers is expected to drive the growth of the nutraceutical excipient market over the forecast period. Another key factor fueling the market growth is the increasing approvals and recommendations by health regulatory bodies and nutritionists regarding the health benefits of nutraceutical supplements. For instance, consumption of calcium and vitamin D supplements is widely recommended for bone health. Also, probiotic supplements are gaining popularity for maintaining gastrointestinal health. However, stringent regulatory norms for new product approvals may restrain the market growth. Nutraceutical excipient manufacturers need to comply with the guidelines of regulatory agencies like FDA and EMA.
Nutraceutical Excipient Market is dominated by the binder segment which holds around 35% share of the total market. Binders are used to enhance the functionality of other excipients by imparting binding properties to allow for tablet formation. They provide cohesiveness and integrity to the tablet without modifying the release profile of the drug. Some commonly used binders in nutraceutical formulations are pregelatinized starch, microcrystalline cellulose, and hydroxypropyl methylcellulose as they are cost-effective and provide good binding capacity.
Political: The nutraceutical market is regulated by government agencies and regulations. Any changes made by regulatory bodies to the approval process or new safety standards can impact the demand for excipients used in developing nutraceutical products.
Economic: As dietary supplements market continues to grow globally, demand for safes excipients to formulate nutraceutical products is also increasing. Rising disposable incomes drive higher spending on preventive healthcare and nutrition augmentation.
Social: Changing consumer preferences towards healthy lifestyle and focus on preventive healthcare is a major driving factor. People are more inclined towards natural remedies and supplements for various ailments over traditional medicines.
Technological: Excipient manufacturers are investing in R&D to develop novel excipients with enhanced functionality like modified release, targeted delivery, taste-masking etc. This allows formulators to come up with innovative nutraceutical products.
The Global Nutraceutical Excipient Market Size was valued at US$ 2680.29 million in 2023 and is expected to witness a CAGR of 6.3% during the forecast period of 2023 to 2030.
Regional analysis: North America dominates the market currently owing to increasing health supplement consumption and nutritional awareness. The Asia Pacific region is expected to witness the fastest growth over the forecast period due to rising health expenditure, large consumer base and growing disposable incomes in emerging countries like India and China.
Key players: Key players operating in the nutraceutical excipient market are 3M, Eko Devices, Thinklabs Medical, HD Medical Inc., and Welch Allyn. These companies are focusing on new product launches, collaborations and geographical expansion to consolidate their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it