Nutraceutical Excipients Market

Market Synopsis:

The Global Nutraceutical Excipients Market was valued at USD 3.21 Billion in 2022 and is expected to reach a value of USD 5.52 Billion by 2030. In the projected period, the Global Market is anticipated to grow and exhibit a Compound Annual Growth Rate (CAGR) of 7.00%.

The inert additives known as Nutraceutical Excipients are created with Active Pharmaceutical Ingredients (API) to bulk up solutions that include potent active agents. These Nutraceutical Excipients are used in standardized pharmaceutical-grade supplements. The term "nutraceutical" refers to food or food that has been fortified and is made from food sources that not only enrich the diet but also offer extra health advantages in addition to the actual nutritional content already present in meals. Medical foods, designer foods, functional foods, etc., are other words used to describe nutraceuticals. To provide better health conditions, they also assist in delivering medical benefits and aid in treating or preventing diseases. The market will expand during the projected period due to the rising demand for multipurpose excipients.

Nutraceuticals are very unstable by nature. As a result, there is a necessity to stabilize the physiochemical characteristics of nutraceuticals. This factor, in turn, is also expected to drive market growth. In addition, the development of the Nutraceutical Excipients Market is fueled by the usage of nanotechnology. The use of nanotechnology further enhances the functions of excipients. Furthermore, the growing demand for nutraceuticals and dietary supplements due to consumers' increased knowledge of lifestyle diseases also contributes to the market's expansion.

Along with increasing government initiatives and awareness campaigns, the increased use of excipients with multifunctional qualities is seen as an emerging trend among the leading players. Therefore, it is anticipated to open up new potential opportunities for the market.

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On the contrary, the possibilities for the market's expansion are constrained by the declining returns on Research and Development (R&D) investments and the high costs of clinical trials and registration. Moreover, the expense of demonstrating an excipient's efficacy through clinical studies is also relatively high and can seriously impede the commercialization of innovative excipients.

Market Segmentation:

The Nutraceutical Excipients Market is segmented on Functionality, Form, End Products, and Region. Based on the Functionality, the market is further segmented into Binders, Fillers & Diluents, Disintegrants, Coating Agents, Flavoring Agents, Lubricants, and Other Functionalities. Furthermore, based on the Form, the market is divided into Dry and Liquid. In addition, based on the End Products, the market is further bifurcated into Protein & Amino Acids, Omega-3 Fatty Acids, Vitamins, Minerals, Prebiotics, Probiotics, and Other End Products.

Based on Functionality:

The Dry Nutraceutical Excipients category dominated the market in 2021. In the forecast period, the Dry sector is also anticipated to boost market expansion. The Dry form's affordability and convenience in various applications can be credited for its popularity. In addition, the market for Dry beverage mixes is expanding due to rising customer demand for fortified beverages, customized blends, and dry beverage mixes with extra nutrients.

Based on End Products:

The Probiotics category dominated the market in 2021. In the forecast period, too, the market growth is anticipated to be boosted by the Probiotics sector. Consumers can benefit from Probiotics, which include yeast and healthy bacteria, because they improve digestion & gut health, nutrient absorption, immunity, and the likelihood of developing food allergies. Probiotic products are available in various formats, including yogurt, beverages, and dietary supplements in tablets and capsules.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

The Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. Due to the rise in income and purchasing power, increased consumer awareness of health & fitness, rapid middle-class population growth, and increased consumer demand for nutritional & healthy products, the region's food sectors, such as nutraceuticals, have promising prospects for diversification and growth. The large portion of this region is also attributed to the rising prevalence of chronic diseases like diabetes, cardiovascular diseases, cancer, and respiratory diseases; a sedentary lifestyle; growing public awareness of the connection between diet and health; rising healthcare costs; and the aging population.

Recent Developments:

• In April 2021, to meet the need of biopharmaceutical firms worldwide, DFE Pharma, a major player in pharmaceutical excipient solutions, launched a new product line called BioHale.
• In March 2020, to solidify its supremacy in China with the aid of CosBond's existing client base, Azelis Chemical Limited announced the acquisition of CosBond, a prominent specialty chemical and food ingredient distributor in China.

Competitive Landscape:

The key players in the Global Nutraceutical Excipients Market include- DuPont (US), BASF SE (Germany), Kerry Group PLC (Ireland), Ingredion PLC (US), Sensient Technologies (US), Associated British Foods (UK), Roquette Freres (France), Meggle Group Wasser (Germany), Cargill Inc (US), Ashland Global Holdings Inc (US), Seppic (France), Shin-Etsu Chemical Co Ltd (Japan), Fuji Chemical Industries Co. Ltd. (Japan), Pharmatrans Sanaq AG (Switzerland), Pioma Chemicals (India), Gattefosse (India), W.R. Grace & Co (US), Omya (Switzerland), Grain Processing Cor.p (US), Gangwal Chemicals Pvt. Ltd. (India), IMCD (Netherlands), Hilmar Ingredients (US), Innophos Holdings Inc (US), JRS Pharma (Germany), Biogrund GmbH (Germany), Pharma Line Int'l Corp. (South Korea), Jigs Chemical (India), Panchamrut Chemicals (India), Azelis Chemical Ltd. (Europe), Daicel Group (Japan) and others.

Segmentation of the Global Nutraceutical Excipients Market: