Nutraceutical excipients are food ingredients that provide health benefits beyond basic nutrition when consumed. They are commonly used as delivery vehicles for nutraceutical supplements, tablets and capsules to enhance the bioavailability of nutrients in the human body. The rising awareness regarding health benefits of nutraceutical products along with convenience of supplements as an alternative to traditional medicines is increasing their adoption.
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 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the Nutraceutical Excipient Market is being driven significantly by the rising adoption of nutraceutical products globally. As consumers are getting more health conscious and seeking supplements for various health conditions, the demand for effective and high quality nutraceutical ingredients is increasing. Key players in the market are focusing on developing innovative excipients that helps in enhancing bioavailability and palatability of nutraceutical formulations. They are investing extensively in research and development to offer novel excipients made from natural materials which appeal to health conscious customers. This increasing R&D for advanced excipients will support the growth of the Nutraceutical Excipient Market during the forecast period.
Segment Analysis
The global nutraceutical excipient market is dominated by the binder sub segment. Binders are the largest segment in terms of revenue contribution in the overall nutraceutical excipient market. Binders are commonly used as key excipients in nutraceutical formulations as they provide cohesiveness and structural integrity to compressed nutraceutical tablets. In tablet manufacturing, binders aid the granulation process and ensure that ingredients such as active pharmaceutical ingredients (APIs), fillers and diluents bind into a firm compact during compression. Their cohesive property helps in holding the compressed tablet together. Therefore, binder excipients play a vital role in nutraceutical tablet formulations.
Key Takeaways
The Global Nutraceutical Excipient Market Size is expected to witness high growth. 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 6.3% over the forecast period 2023 to 2030.
North American region currently dominates the nutraceutical excipient market due to high nutraceutical products consumption in the region. The region has a well-established nutraceutical industry and accounts for the largest share of 33% of the global nutraceutical excipient market.
Key players operating in the nutraceutical excipient market are 3M Littmann, Eko Devices, Thinklabs Medical, HD Medical Inc., Welch Allyn (a subsidiary of Hillrom). Key players related content comprises Key players are focussing on developing innovative nutraceutical excipients through extensive research and development activities. Major players are investing heavily to enhance their production capabilities in order to meet the rising demand for nutraceutical excipients. Partnerships and collaborations are also among the key strategies being adopted by players to strengthen their market position.
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