In terms of revenue, the Global Nutraceutical Contract Manufacturing Services Market is expected to reach 275.05 Million by 2030, growing at a CAGR (Compound Annual Growth Rate) of 12.5% from 2023 to 2030.
The nutraceutical industry is predicted to grow throughout the projection period thanks to CMOS's growing benefits, which include decreased overhead costs, improved delivery alternatives, and extensive lab testing. The market is further stimulated by CMO's increased production affordability and dependability. The overall nutraceutical contract manufacturing need is anticipated to increase due to rising health consciousness among consumers, accessibility to cutting-edge technology, and the expansion of contract manufacturing businesses in the area. The expansion of the nutraceutical contract manufacturing market is also anticipated to be further fueled by the development of regionally unique pharmaceutical and food sectors. The rise in chronic illnesses among women drives the development of novel nutraceuticals. Manufacturers are creating functional nutraceutical meals and drinks to cater to women at different phases of life. New development opportunities are anticipated due to the changing nutraceutical landscape for women.
Key Highlights from the Report
· Based on End-use, the functional food and beverage segment dominates the Nutraceutical Contract Manufacturing Services market with the maximum market share and will continue to dominate in the forecast period.
· In terms of region, Asia Pacific holds the significant market share within the Nutraceutical Contract Manufacturing Services market and will continue dominating during the forecast period.
The market for nutraceutical products is steadily expanding. The benefits of using nutraceuticals have become much more well-known in recent years. A market extension is expected to be aided by growing urbanization and rising spending on health-related products. Additionally, the nutraceutical business is receiving a boost from the rising prevalence of obesity, cardiovascular disease, and other chronic conditions. Market expansion is anticipated to be fuelled by the increasing demand for functional foods and nutraceutical supplements.
The healthcare sector is experiencing an increase in technological breakthroughs. There are many prospects for market participants to flourish thanks to the accessibility of new technology. During the projected period, contract manufacturing services are expected to assist the nutraceutical business more. The sector is anticipated to gain from enhanced shipping alternatives, thorough lab testing, and reduced administrative expenses. Furthermore, factors like increased dependability and economic production are projected to support market growth.
Functional foods and drinks and dietary supplements are the two market segments that are separated depending on the kind of product. From 2023 to 2033, the functional food and beverage market is expected to grow at an impressive CAGR. Functional meals and drinks provide several health benefits. In the upcoming years, its use is expected to increase due to the increased knowledge of these benefits. Rising demand is expected to boost contract manufacturing services in the nutraceutical industry. Consumption of healthy food and drinks increased significantly due to the coronavirus epidemic. Post-pandemic consumption of functional foods has grown in countries such as India, Japan, China, and South Korea.
The market for contract manufacturing services for dietary supplements is quite splintered. Players from both domestic and foreign markets are present in the market. Industry participants are attempting to expand into new regions by establishing new collaborations and purchasing companies. With agreements from nutraceutical contract manufacturing services, they are placing emphasis on extending their distribution networks. The increasing use of modern technology and the growing healthcare infrastructure are predicted to open up new investment opportunities for industry participants. The introduction of a nutraceutical made with cutting-edge production techniques is expected to improve the positions of market participants. For market participants, strategic alliances are anticipated to be advantageous.
The Global Nutraceutical Contract Manufacturing Services Market is Segmented as follows
- Dosage Forms
- Liquid Oral
- Powder In Sachet / Jar
- Energy Bars
- Other Suitable Forms (Diskettes)
- Dietary Supplements
- Functional Food & Beverages (Inclusive of Energy Drinks, Re-Constitutional One Shot Powder)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Nutraceutical Contract Manufacturing Services Market is
Ashland Glanbia PLC (Ireland), Herbalife International of America Inc. (U.S.), Biotrex Nutraceuticals (India), Martínez Nieto (Spain), Menadione (Spain), Nutra-Science Labs (U.S.), NUTRIVO (U.S.), American Health Foundations Inc. (U.S.), Gemini Pharmaceutical (U.S.), Biovencer Healthcare Pvt. Ltd. (India), Rain Nutrience (UK)
The Global Metal Coatings Market Scope can be Tabulated below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis