The nutraceutical excipients market is projected to grow from USD 4.2 billion in 2023 to USD 6.1 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Personalized nutrition plans and online sales are rapidly merging to transform the nutraceutical market. As individuals embrace tailored diets, the need for customized products with specific excipients, tailored delivery systems, and targeted nutrients soars. The flourishing retail market indicates a larger consumer base with increased disposable income and a heightened focus on health and wellness. Consequently, there is a surge in demand for nutraceutical products like functional foods and dietary supplements. This escalating demand is driving the necessity for specialized excipients utilized in formulating these products.
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Driver:Advancements in nanotechnology have brought forth a myriad of innovative features that are poised to significantly propel the growth of the nutraceutical excipients market
Advancements in nanotechnology have introduced a multitude of innovative features poised to drive substantial growth within the nutraceutical excipients market. Operating at the nanoscale level, nanotechnology offers distinct and advantageous functionalities for the development of excipients in the nutraceutical industry. Nano-sized excipients play a pivotal role in enhancing the solubility and bioavailability of active ingredients, facilitating superior absorption and utilization of nutrients in the body, thereby amplifying the effectiveness of nutraceutical products. Moreover, excipients at the nanoscale offer increased stability for delicate nutrients, safeguarding them from degradation and extending the shelf life of nutraceuticals, ensuring their efficacy over prolonged periods. Additionally, nanotechnology enables the creation of targeted delivery systems, allowing precise and specific delivery of nutrients to targeted body tissues or cells, thereby optimizing the efficacy of nutraceuticals while minimizing potential adverse effects.
Taste masking excipients act as catalysts for consumer-friendly nutraceuticals.
Nutraceutical products often contain active ingredients with disagreeable tastes or odors. Taste masking excipients serve as pivotal components in elevating palatability, making these items more appealing and user-friendly, particularly for individuals sensitive to specific flavors. The increasing demand for nutraceutical supplements and functional foods in daily health routines has led to the adoption of taste-masking excipients. These aids enhance product likeability, encouraging consistent usage and adherence to prescribed dosages. Taste-related difficulties frequently affect nutritional supplements intended for children and the elderly. Taste masking excipients facilitate customized formulations tailored to these groups, ensuring improved adherence and consumption rates.
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North America accounts largest share of the nutraceutical excipients market and is witnessing growth due to the strong presence of key companies and increasing lifestyle diseases & health concerns.
In North America, numerous prominent players and leading manufacturers dominate the nutraceutical industry. These influential companies play a pivotal role by consistently engaging in research, innovation, and the development of new products, significantly contributing to the market's growth. The region's escalating health concerns, encompassing issues like obesity, cardiovascular diseases, and lifestyle-related conditions, have prompted consumers to actively pursue preventive healthcare measures. As a result, there's a heightened demand for nutraceutical products perceived as valuable in addressing these health issues. This increased demand directly fuels the market for nutraceutical excipients, essential components in the formulation of these sought-after health-focused products.
Nutraceutical Excipients Market Share
The key players in this include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.
