Market Overview:
The global Nutraceutical Excipient Market is estimated to be valued at US$3.4 billion in 2020 and is expected to exhibit a CAGR of 7.3% over the forecast period of 2020 to 2025. Nutraceutical excipients are essential components used in the formulation of nutraceutical products. These excipients provide various advantages such as improving stability, enhancing solubility, enhancing bioavailability, and masking unpleasant tastes or odors. The growing demand for nutraceutical products that offer health benefits and the increasing preference for dietary supplements are driving the market growth. Furthermore, the rising consumer awareness regarding preventive healthcare and the increasing adoption of a healthy lifestyle are further fueling the demand for nutraceutical excipients in the market.
Market Key Trends:
One key trend in the Nutraceutical Excipient Market is the increasing demand for novel excipients. With technological advancements and research and development activities, new excipients with enhanced functionality are being introduced in the market. These novel excipients offer improved stability, controlled release, and improved bioavailability of the active ingredients in nutraceutical products. Manufacturers are focusing on developing excipients that are compatible with different types of formulations and provide superior performance. These advancements are expected to drive the market growth as they cater to the evolving needs and preferences of consumers.
Note: No information about key players has been included in this report.
Segment Analysis:
The Nutraceutical Excipient Market can be segmented based on type and functionality. In terms of type, the market can be divided into binders, fillers, disintegrants, coatings, lubricants, and others. Among these, binders dominate the market due to their crucial role in ensuring the structural integrity and stability of the nutraceutical products. Binders are used to bind the active ingredients together and provide compressibility to the final product. These excipients enable the formation of tablets and capsules that are easy to handle, store, and consume. Additionally, binders also enhance the solubility and bioavailability of the active ingredients. Hence, the demand for binders is expected to drive the growth of the nutraceutical excipient market.
Key Takeaways:
The global nutraceutical excipient market is projected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period of 2020 to 2025. This growth can be attributed to the increasing awareness among consumers regarding preventive healthcare and the growing demand for dietary supplements. Moreover, the rising geriatric population and the prevalence of chronic diseases have also fueled the demand for nutraceutical products, thereby driving the market growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the nutraceutical excipient market. This can be attributed to the high consumption of dietary supplements and the presence of leading market players in the region. Additionally, the increasing health-consciousness among consumers and the availability of a wide range of nutraceutical products are also driving the market growth in North America.
Key players operating in the nutraceutical excipient market include DuPont, P&G Chemicals, Eastman Chemical Corporation, Huntsman Corporation, Kerry Group plc, ABF, Roquette Freres, Ingredion, Meggle, Hilmar Ingredients, JRS Pharma, Sensient, Innophos, Cargill, IMCD, Avantor Performance Materials, Zydus Wellness, BASF SE, Lubrizol Corporation, Colorcon Inc., Finar Limited, and Shin-Etsu Chemical Co., Ltd. These key players are focusing on strategic collaborations and new product launches to expand their market presence and gain a competitive edge.
In summary, the nutraceutical excipient market is expected to witness significant growth, driven by the increasing demand for dietary supplements and the rising awareness regarding preventive healthcare. Binders are the dominating sub-segment due to their crucial role in ensuring the stability and compressibility of nutraceutical products. North America is the fastest-growing region in the market, propelled by high consumption and the presence of leading market players. Key players are adopting strategies such as collaborations and new product launches to strengthen their market position.
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