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Global Nutraceutical Excipient Market was valued at USD 3.7 billion in 2021, and it is expected to reach a value of USD 6.04 billion by 2028, at a CAGR of more than 7.25% over the forecast period (2022-2028).
Nutraceuticals are products that have both nutritional and medicinal benefits. A nutraceutical product is a chemical that has physiological advantages or provides defence against chronic illness. Excipients are inert chemicals that are included with active medicinal components to thicken solution that contain powerful active compounds in nutraceuticals. These nutraceutical excipients are used in pharmaceutical-grade, standardized supplements.
In the presence of heat, light, oxygen, and high humidity, a number of compounds included in nutritional supplements become unstable. Additionally, they may have a varying particle size distribution, poor flow, and a high bulk density. Nutraceuticals can be used to improve health, delay the onset of chronic illnesses, prolong life expectancy, or support the structure or functioning of the body. There are many different kinds of nutraceutical goods on the market, such as antioxidants, probiotics, prebiotics, nutritional supplements, and others. These things have been demonstrated to help prevent certain ailments when used in conjunction with exercise. The projection period has lucrative prospects for the participants in the nutraceutical excipient market due to the increased use of excipients with multifunctional capabilities.
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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.
Analysis by Functionality
The binder segment accounted for the highest market share in 2021. Excipients that act as binders, such those found in tablets, keep the components of a formulation together. With the use of binders, the required mechanical strength may be achieved in the production of tablets, powders, granules, and other goods. By binding the contents together, binders can also assist in adding volume to low-active dosage tablets, generating effective tablets with the right active ingredients. Binders are gaining popularity and are seeing an increase in consumption as an excipient in the nutraceutical business due to variables like adaptability and crucial necessity in improving product efficiency.
A sizeable portion of the market for nutraceutical excipients is occupied by fillers and diluents. A diluent is anything that thins. Some liquids can't simply be pumped because they are either too viscous or too thick to move from one place to another. This might be problematic since it might not be financially feasible to transfer these fluids at this time. Fillers increase the volume of a product and help consumers absorb minute active ingredients. The filler is added to the material to improve its functionality, increase its volume, weight, or both, and lower the cost of the solid material.
Analysis by Form
The dry form segment held the largest market share in 2021. This can be attributed to the affordability and ease of the dry form in a variety of applications which is responsible for its popularity. The market rise in the dry sector is being driven by rising consumer demand for fortified drinks and an increase in demand for dry beverage mixes with added nutrients, including customised blends. A large portion of the worldwide market share of approximately 3/5th of total share for dry nutraceutical excipients is attributable to the strong demand for solid state dietary or nutritional supplements. Additionally, manufacturers choose dry form over other forms the most. Due to this, manufacturers are using novel ways and releasing fresh dry dietary supplements and nutraceutical excipients.
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North America dominated the global nutraceutical excipient market in 2021, owing to the rising demand for dietary supplements and nutraceuticals in the region. Consumers' busy lifestyles and rising knowledge of the health advantages of nutritious foods, especially dietary supplements, have been cited as contributing causes to this growth. Excipients are now available for usage in novel and creative ways thanks to the introduction of new products and the application of technology. Consumption of prebiotics and probiotics has grown in the United States as a result of the rising prevalence of lifestyle disorders including obesity, diabetes, and others. As a result, there will be prospects for the use of nutraceutical excipients in the nation's food industry. Thus, sales of nutraceutical excipients will likely soar as a result of the trend toward health consciousness in the U.S.
Asia Pacific region is expected to accounted for the fastest growth rate during the forecast period. This can be attributed to growing pharmaceutical manufacturing in the region. To reduce their production costs, a lot of multinational pharmaceutical corporations are concentrating on growth in Asia-Pacific. China, India, and Japan are the main countries in this region. Because of the increase in income and purchasing power, the massive growth of the middle-class population, the rise in consumer awareness of health and fitness, and the rise in consumption of nutritional and healthy products, the region's food sectors, such as nutraceuticals, have promising prospects for growth and diversification. Due to the region's growing population, which increases the market need for these items, market participants are concentrating on the products in this region. The market is being significantly dominated by the growing population, which also drives up demand for nutraceutical excipients due to an increase in illnesses and issues. The Asia Pacific nutraceutical excipients market is thus anticipated to grow more rapidly as a result.
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Global Nutraceutical Excipient Market is fragmented and competitive due to the presence of major players. To maintain a competitive edge and increase their market position in the market, leading companies are increasingly focusing on implementing tactics such as adopting new technology, product developments, mergers and acquisitions, joint venture, alliances, and partnerships. Key players are using innovative production processes to meet the rising demand from various end users in the nutraceutical excipients market. Another important tactic used by market participants to stay ahead of the curve is portfolio expansion.
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According to our Global Nutraceutical Excipient Market analysis, the market is being significantly impacted by investments in goods or solutions due to the rise in fortified food product demand, rising consumer health consciousness, and expanding emphasis on preventative care. The demand for nutraceuticals is fueled by the trend of fitness awareness of health, middle-class consumers' rising disposable income, an ageing population, urbanisation that is speeding up, an increase in the prevalence of lifestyle-related diseases like high blood pressure, diabetes, and heart disease, inadequate nutrition as a result of the consumer's busy lifestyle, and the high cost of healthcare.
|Market size value in 2021||USD 3.7 billion|
|Market size value in 2028||USD 6.04 billion|
|Growth Rate||more than 7.25%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Nutraceutical Excipient Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Nutraceutical Excipient Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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