Nutraceutical Excipients are food additives or ingredients that are added to dietary supplements to facilitate the manufacturing process and/or provide benefits beyond basic nutritional content. They are commonly used to provide structure, bulk, texture, compression properties, coating properties, and moisture holding capacity to tablets and capsules. Some examples of commonly used Nutraceutical Excipients include binders, fillers, disintegrants, and stabilizers. They help in improving the dissolution and absorption of active ingredients in nutraceutical formulations.
The global Nutraceutical Excipient market size is estimated to be valued at US$3087.7 Bn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing demand for nutraceutical products and growing health awareness among consumers: The increasing demand for functional foods and dietary supplements is one of the major drivers propelling the growth of the global Nutraceutical Excipient market. Consumers are increasingly adopting preventive healthcare measures to maintain well-being and reduce medical expenses. Additionally, growing health awareness regarding lifestyle disease risk factors has augmented the demand for nutraceuticals. Nutraceutical Excipients help improve absorption and effectiveness of these supplemental products which further boosts their demand.
Development of novel Nutraceutical Excipients: Manufacturers are focusing on developing novel excipients to enhance the functionality and efficacy of end products. For instance, in 2020 Arkema launched Vanceva ColorMatrix technology that enables direct formulation of oil, water-soluble nutrients, probiotics, and prebiotics into gummy and soft chew formats with vibrant colors. Growing innovation in excipients tailored for specific delivery systems and actives is augmenting the market growth.
SWOT Analysis
Strength: Nutraceutical Excipient Market Size has strong growth opportunities owing to the rising health and wellness trends amongst consumers. The excipients help in enhancing the manufacturing processes and stability of nutraceutical products. They also aid in improving the solubility, palatability and taste of supplements. With an increasing preference for natural and organic ingredients, excipients support manufacturers in formulating products using sustainable sources.
Weakness: High dependence on agricultural commodities for raw materials exposes the Nutraceutical Excipient market to price volatility. Additionally, stringent regulations associated with GMP compliance increases operational costs for players.
Opportunity: Growth in nutraceutical consumption driven by the aging population and prevalence of lifestyle diseases provides vast opportunities. The development of innovative and multifunctional excipients tailor-made for specific applications can further expand the market scope. Adoption of advanced processing technologies would increase efficiencies.
Threats: Intense competition among existing playerslimits pricing flexibility. Further, the availability of alternatives like microencapsulation poses threats. Fluctuations in foreign currency exchange rates can impact import/export of raw materials.
Key Takeaways
The global Nutraceutical Excipient market is expected to witness high growth over the forecast period. The global Nutraceutical Excipient market size is estimated to be valued at US$3087.7 Bn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031.
The Asia Pacific region currently dominates the market due to rising health awareness, increasing disposable incomes and growing nutraceutical industry. China, India and Japan are major markets driven by population expansion, busy lifestyles and proactive government support.
Key players operating in the Nutraceutical Excipient market are Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon. The market is consolidated in nature with top players focusing on capacity extensions, partnerships and new product launches catering to changing demands.
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