May 25, 2024

Nutraceutical Excipient Market Growth Accelerated by Expanding Product Portfolio

Nutraceutical excipients are ingredients that are commonly used to facilitate drug delivery or improve the effectiveness of active ingredients in nutraceuticals. They improve attributes such as taste, shelf-life, dispersion, bioavailability, and stability. With increasing prevalence of chronic diseases and rising focus on preventive healthcare, nutraceutical excipients have gained prominence over the years.

The global Nutraceutical Excipient Market is estimated to be valued at US$ 2680.29 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Manufacturers are focusing on developing novel nutraceutical excipients that can improve the solubility, stability, and bioavailability of active ingredients in various applications. For instance, in April 2021, Roquette launched a new line of functional excipients branded as Nutrelia under its human nutrition division. Nutrelia product portfolio includes plant-based excipients like fibers, starch and proteins that can enhance the delivery of vitamins, minerals, botanicals and other active ingredients in supplements. Similarly, other players are also expanding their capabilities in excipient manufacturing to cater to the evolving requirements of nutraceutical formulations. This expanding product portfolio allows manufacturers to offer innovative solutions and widens their customer base, thereby accelerating the future growth prospects of the global market.

Segment Analysis
The nutraceutical excipient market is dominated by primary excipients segment. Primary excipients help in enhancing performance, stability, bioavailability, and manufacturability of the nutraceutical formulations. They impart various properties like solubility, stability, thickening, film formation, binding etc. to the formulations. Large and versatile usage of primary excipients like binders, coatings, fillers, disintegrants etc. in nutraceutical formulations has led to the dominance of this segment.

Key Takeaways

The global nutraceutical excipient market is expected to witness high growth over the forecast period of 2023 to 2030. The growing awareness among consumers about nutraceuticals and functional foods has led to increasing demand for high quality nutraceutical excipients.

Regional analysis: North America currently dominates the global nutraceutical excipient market owing to growing health consciousness and spending on wellness products in the region. Asia Pacific is expected to experience fastest growth in the market supported by increasing malnutrition issues and growing nutraceutical industry in India and China.

Key players: 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 are focused on new product launches, capacity expansions and mergers & acquisitions to strengthen their positions in the market.

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