Nutraceutical Excipients are commonly used ingredients added to enhance effectiveness and ensure safety during drug delivery. These excipients play a crucial role in functional food processing, drug formulation and manufacture of dietary supplements. With rising consumer proclivity towards preventive healthcare and nutrition-led wellness, demand for fortified functional foods and supplements has increased exponentially.
The global Nutraceutical Excipient Market 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 key trends:
Growing health awareness trends amongst consumers has propelled the demand for Nutraceutical Excipients globally. Consumers are increasingly adopting preventive healthcare approaches and functional foods for meeting their daily nutritional needs. This has driven food and supplement formulators to innovate and develop fortified products with enhanced efficacy using Nutraceutical Excipients. Furthermore, changing lifestyles and busy schedules have prompted demand for nutrition-packed on-the-go consumables, which is expected to drive the need for Nutraceutical Excipients that facilitate development of convenient product formats. The aforementioned factors are expected to drive the growth of global Nutraceutical Excipient market during the forecast period.
SWOT Analysis
Strength: Nutraceutical Excipient Market Size experiences growing demand for multifunctional and targeted delivery formulations. This drives innovation in excipients offering sustained release and enhanced bioavailability.
Weakness: High cost of development and stringent regulatory procedures for novel excipients prolong commercialization timeline. Excipient compatibility issues with active ingredients also pose challenges.
Opportunity: Rising consumer health awareness expands the scope of nutraceutical products, presenting opportunities for excipient innovation supporting specialized delivery systems. Developing economies offer high growth potential.
Threats: Intense competition from alternative delivery technologies and inherent variability in clinical outcomes of nutraceuticals act as threats. Dependency on agriculture for raw materials also increases supply chain vulnerabilities.
Key Takeaways
The global Nutraceutical Excipient market is expected to witness high growth over the forecast period of 2024 to 2031. The global Nutraceutical Excipient Market 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.
Regional analysis comprises: North America dominates currently due to robust nutraceutical industry and supportive regulatory environment encouraging new product development. Asia Pacific is expected to be the fastest growing market with rising health awareness and growing disposable incomes in populous countries like India and China.
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. Major players focus on expanding production capabilities and new product launches catering to customized delivery requirements.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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