Nutraceutical excipients are inert substances added during the formulation of dietary supplements to aid the manufacturing process and enhance the bioavailability, shelf life, and stability of active ingredients. They provide texture, binders, and disintegrants to supplements in the form of capsules, tablets, powders, and liquids.
The global 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 key trends:
One of the key trends in the nutraceutical excipient market is the growing demand for multifunctional excipients. Multifunctional excipients perform more than one function, such as binding as well as enhancing solubility, which reduces the number of excipients required. This improves the efficacy of formulations while lowering manufacturing costs. They offer formulation flexibility and ensure long-term stability. Hence, major players are focusing on developing innovative multifunctional excipients to capitalize on the emerging opportunities in the nutraceutical excipient market.
SWOT Analysis
Strength: The nutraceutical excipient market offers various health benefits to consumers such as improved digestive health, weight management, joint & bone health etc. This is expected to drive the demand for nutraceutical excipients.
Weakness: High costs associated with R&D of novel nutraceutical excipients can hamper market growth.
Opportunity: Increasing consumption of supplements owing to the shift in lifestyle habits provides growth opportunities to nutraceutical excipient manufacturers.
Threats: Stringent regulations associated with new product launches and approval process can affect the market growth negatively. Dependence on agricultural commodities as raw materials exposes the market to supply uncertainties.
Key Takeaways
The global Nutraceutical Excipient market share is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing health awareness among consumers. The nutraceutical excipient market size for 2023 is US$ 2,680.29 Mn.
Regional analysis
North America dominates the global nutraceutical excipient market and is expected to continue its dominance over the forecast period. This is attributed to growing health consciousness, rising obesity rates, and increased spending on functional foods and nutraceuticals in the US and Canada. Asia Pacific exhibits the fastest growth in the nutraceutical excipient market owing to rising living standards, growing middle-class population, and urbanization in countries like India and China.
Key players
Key players operating in the Nutraceutical Excipient market are DuPont de Nemours, Inc., Roquette Frères, Ashland Global Holdings Inc., and Innophos Holdings, Inc. DuPont and Roquette are among the top players in the market and offer a wide range of nutraceutical excipients including binders, coatings, fillers & diluents, disintegrants and more
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
