Nutraceutical Excipients Market Expected to Reach US$2,427.8 Million by 2023

Nutraceutical Excipients Market
Nutraceutical Excipients Market 


Market Overview:

The global nutraceutical excipients market is projected to reach a value of US$2,427.8 million in 2023, with a compound annual growth rate (CAGR) of 10.4% during the forecast period 2022-2030. Nutraceutical excipients are substances used in the formulation of nutraceutical products to enhance their stability, bioavailability, and effectiveness. These excipients play a crucial role in maintaining the quality, appearance, and consistency of nutraceutical products. The global market for nutraceutical excipients is driven by the increasing consumer demand for functional foods and dietary supplements, coupled with the rising awareness regarding the health benefits of nutraceutical products. Furthermore, advancements in excipient technologies and the development of novel excipients are anticipated to drive market growth in the coming years.

Market Key Trends:

Increasing Demand for Natural and Organic Nutraceutical Excipients
The growing trend towards clean-label products and consumer preferences for natural and organic ingredients are driving the demand for natural and organic nutraceutical excipients. Natural excipients sourced from plant and animal-based origins offer improved safety and bioavailability compared to synthetic counterparts. Companies operating in the nutraceutical excipients market are focusing on developing natural and organic excipients to cater to the increasing demand for clean-label and sustainable products. Such developments are expected to fuel the market growth of natural and organic nutraceutical excipients in the coming years.

Segment Analysis:

The nutraceutical excipients market can be segmented based on type, application, and region. Based on type, the market can be categorized into binders, fillers, disintegrants, coatings, lubricants, flavoring agents, and others. Among these, binders dominate the market due to their high usage in nutraceutical formulations. Binders are extensively used in tablet and capsule formulations to hold the ingredients together and provide the required cohesiveness. They also contribute to the desired release profile of the active pharmaceutical ingredients (APIs). The increasing demand for nutraceutical products in tablet and capsule forms is driving the dominance of the binders segment.

Key Takeaways:

The global nutraceutical excipients market is expected to witness high growth, exhibiting a Compound Annual Growth Rate (CAGR) of 10.4% over the forecast period (2022-2030). This growth is primarily attributed to the increasing consumer awareness regarding the benefits of nutraceutical products and their rising adoption for health and wellness purposes. The growing elderly population and the prevalence of chronic diseases further contribute to the market's growth.

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 pharmaceutical and dietary supplement industry, along with a high level of consumer awareness and purchasing power. The presence of key market players and stringent regulations for product safety and quality also contribute to the dominance of North America in the market.

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 players contribute significantly to the market's growth through new product development, mergers and acquisitions, and collaborations. Their strong distribution networks and extensive product portfolios help them maintain a competitive edge in the market.

Read More:

https://www.ukwebwire.com/nutraceutical-excipients-market-growing-demand-for-functional-ingredients-driving-market-growth/

 

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