Nutraceutical excipients are substances that are added to food or used in the manufacture of dietary supplements and medications to provide certain technical, stabilizing, thickening, or other functions. Common nutraceutical excipients include fillers, binders, coatings, diluents, lubricants, and disintegrants. They are used to enhance the stability, bioavailability, functionality and overall acceptability of nutraceutical products.
The Nutraceutical Excipient Market is estimated to be valued at Us$ 2,680.29 Mn in 2023 and is expected to exhibit a CAGR Of 10% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The nutraceutical excipient market is primarily driven by increasing demand for functional food and dietary supplements across the globe. According to the Council for Responsible Nutrition (CRN), the U.S. dietary supplement market grew 9.5% in 2020 to $53 billion and projected to reach $63 billion by 2025. Dietary supplements play an important role in healthcare and disease prevention as it provides essential nutrients to support overall health and well-being. Rising health consciousness among consumers regarding benefits of dietary supplements is expected to boost the demand for nutraceutical excipients over the forecast period. Secondly, growing incidences of chronic diseases such as diabetes, cancer, hypertension and obesity have fueled the demand for dietary supplements enriched with functional ingredients which in turn will accelerate the growth of nutraceutical excipient market during the forecast period.
SWOT Analysis
Strength: Nutraceutical excipients help increase the bioavailability of active ingredients in supplements. They ensure stability and aid in the disintegration and absorption of supplements. They also help formulate supplements into convenient delivery forms like tablets, capsules etc.
Weakness: Developing novel excipients requires huge investment in R&D. Further, regulatory approval process for new excipients is lengthy and complex. Raw material price fluctuations can impact the final product cost.
Opportunity: Growing health-conscious consumer base is increasing demand for nutritional and dietary supplements globally. This presents an opportunity to develop innovative excipients to suit changing consumer needs.
Threats: Stringent regulatory framework. Introduction of alternative delivery forms like beverages cuts into the demand for supplement tablets and capsules.
Key Takeaways
The Global Nutraceutical Excipient Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing health awareness among consumers. Growth in the dietary supplements industry is propelling demand for specialized excipients that aid functionality and stability.
Regional analysis Middle East and Africa region is expected to grow at fastest CAGR through 2030 on account of rising lifestyle diseases. North America dominated global revenues in 2023 led by nutritional deficiencies and increased adoption of supplements.
Key players operating in the nutraceutical excipient market are DuPont de Nemours, Inc., Roquette, and Innophos Holdings, Inc. Key players are focusing on new product launches, capacity expansions and mergers & acquisitions to strengthen their market presence. They are investing heavily in R&D to develop novel excipients tailored for evolving supplement forms.
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