The nutraceutical excipient market is experiencing significant growth due to the rising demand for dietary supplements and functional foods. Excipient materials play a crucial role in the formulation of nutraceutical products, influencing their stability, bioavailability, and overall effectiveness. This article delves into the current market size, share, and future growth prospects of the nutraceutical excipient market, forecasting trends up to 2031.
Global Nutraceutical Excipient Market size was valued at USD 4.4 billion in 2023 to USD 7.2 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).
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Nutraceutical Excipient Market Driver
- The market is expanding owing to developments in nanotechnology and drug delivery systems that solve issues with medication toxicity. In order to employ nanotechnology as a drug delivery method (DDS), there are two main strategies. The first strategy involves shrinking the size of nutraceutical medicine crystals to ensure improved solubility and bioavailability, while the second strategy involves using a type of nano-carrier to transport active components effectively.
- The main reasons propelling the growth of the nutraceutical excipient market are the rise in demand for fortified food items, rise in consumer health consciousness, and increased emphasis on preventative care which is boosting investments in goods or solutions.
- The prevalence of chronic diseases among consumers, poor nutrition, and rising public knowledge of illnesses and preventative treatment are all factors that are accelerating the expansion of the market.
- Additionally, the market is favourably impacted by the rising emphasis on preventive healthcare, changing consumer lifestyles, rising disposable income, expansion of food processing applications, and rising healthcare expenditures. Additionally, the projection period will see profitable prospects for companies in the nutraceutical excipient market due to the growing use of excipients with multifunctional features.
Market Segmentation
The nutraceutical excipient market can be segmented based on:
Global Nutraceutical Excipient Market is segmented based on the functionality, form, end use, and region.
- Based on functionality, the market is segmented into fillers diluents, binders, coating agents, disintegrants, lubricants, flavouring agents.
- According to form type, the market is bifurcated into dry and liquid.
- On the basis of end use, it is categorized into prebiotics, probiotics, proteins amino acids, minerals, vitamins, omega- 3 fatty acids.
- Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Nutraceutical Excipient Market Top Player's Company Profiles - Kerry Group PLC, Roquette Freres, Cargill, Inc., DuPont Nutrition Biosciences, Ingredion Incorporated, BASF SE, Archer Daniels Midland Company, Ashland Global Holdings Inc., Lubrizol Corporation, Innophos Holdings, Inc., DFE Pharma GmbH Co. KG, JRS Pharma GmbH Co. KG, IMCD N.V., Colorcon Inc., Sensient Technologies Corporation, SternMaid America LLC, Nitta Gelatin Inc., SPI Pharma Inc., Pharmatrans Sanaq AG, Gattefossé SAS
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The nutraceutical excipient market is poised for substantial growth over the next decade, driven by increasing health awareness, chronic disease prevalence, and ongoing innovations in formulation technologies. As the market evolves, companies that adapt to changing consumer preferences and regulatory landscapes will be best positioned to thrive. Stakeholders in the nutraceutical industry should remain vigilant to emerging trends and challenges to capitalize on the opportunities presented in this dynamic market.
