April 24, 2024
Nutraceutical Excipient Market

Nutraceutical Excipient Market Driven by Increasing Demand for Functional Foods and Beverages

The Nutraceutical Excipient market has witnessed significant growth in recent years owing to the growing preference for functional foods and beverages across the world. Nutraceutical Excipients are food additives that act as a binding, protecting, and releasing agent for active ingredients in functional foods and dietary supplements. They enhance the properties, stability, and bioavailability of nutraceutical products. With increasing awareness about the health benefits of functional foods, Nutraceutical Excipients play a vital role in delivering nutrients and dietary supplements safely and effectively.

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:

One of the key trends in the Nutraceutical Excipient market is the rising demand for customized and multifunctional excipients. Manufacturers are focusing on developing advanced excipients that can perform various functions such as protection, targeted release, and enhanced absorption of nutrients. This reduces formulation complexity and production costs. Moreover, multivalent excipients integrating capabilities like moisture protection, taste masking, and tableting aid the development of complex nutraceutical formulations. There is also a rising focus on developing all-natural plant-derived excipients to meet the demand for clean label products. This is expected to open lucrative growth opportunities for manufacturers over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Nutraceutical Excipient Market Size is moderate. High capital requirements and strict regulations are barriers to entry in this market.
Bargaining power of buyers: The bargaining power of buyers in the Nutraceutical Excipient market is high due to the availability of various established players providing similar products. Buyers can negotiate discounts and quality improvements.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers have moderate differentiation in their offerings and players have alternatives to consider.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes that can provide the desired functionality at lower costs.
Competitive rivalry: The competitive rivalry in the Nutraceutical Excipient market is high among the top players. Manufacturers compete based on product quality, manufacturing capabilities, and customer relationships.

Key Takeaways

The global Nutraceutical Excipient market is expected to witness high growth over the forecast period owing to the rising health consciousness among consumers. 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.

Regionally, North America dominates the global Nutraceutical Excipient market and is expected to maintain its leading position over the forecast period. This is attributed to the increasing obesity rates prompting consumers to opt for nutraceutical products.

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. These players focus on innovation and capacity expansion strategies to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it