Market Synopsis
According to Market Research Future (MRFR), the global nutraceutical excipients market is anticipated to thrive pervasively. In 2022, the nutraceutical excipients market size was estimated at USD 3.7 billion. The Nutraceutical Excipients market is expected to increase from USD 3.95 billion in 2023 to USD 6.74 billion by 2032, with a compound annual growth rate (CAGR) of 6.90% over the forecast period (2023-2032).
The progressive economy is identified as the most significant driver driving the worldwide nutraceutical excipients market in 2020. The improving economy has significantly enhanced people's lifestyles and the healthcare infrastructure. Furthermore, the proliferation of understanding about the benefits of nutraceuticals is expected to fuel the global industry even further. Rising disposable income and the growing geriatric population are expected to play a significant influence in driving demand. Furthermore, the rising prevalence of disorders such as diabetes, blood pressure, cardiac arrest, and inadequate nutrition is expected to significantly increase the global market size. Furthermore, the expansion of the wellness industry is a key element in driving market growth.
The nutraceutical excipients market is experiencing robust growth due to increasing demand for functional foods and dietary supplements. Excipients for nutraceutical formulations play a crucial role in enhancing stability, solubility, and bioavailability of active ingredients. With a focus on innovation and quality, the market is poised for expansion, catering to diverse consumer preferences.
The Nutraceutical Excipients market is experiencing robust growth, propelled by the rising demand for functional foods and dietary supplements worldwide. Excipients play a crucial role in enhancing the stability, bioavailability, and sensory properties of nutraceutical products. With innovations in formulation technology and increasing consumer awareness of health benefits, the market is poised for further expansion.
On the contrary, protecting the nutrient value of nutraceuticals is a key source of concern, and it is expected to stifle industry expansion. Furthermore, the accompanying high costs are projected to limit market expansion in the foreseeable period. Furthermore, the disruption of COVID-19 is expected to have a detrimental impact on the market due to the cessation of regular activities. However, growth is expected to accelerate by the end of 2020. Furthermore, rising nutraceutical sales, combined with the other variables stated above, are likely to counteract the impediments.
Market Segmentation
The segment analysis of the global nutraceutical excipients market is based on functions, types, and applications.
The functions-based segments of the global nutraceutical excipients market are fillers, diluents & bulking agents, binders, disintegrants, sweeteners, coating agents, lubricants, and colors & flavors.
The type-based segments of the global nutraceutical excipients market are artificial and natural/organic.
The applications-based segments of the global nutraceutical excipients market are Probiotics & Prebiotics, Proteins & Amino Acids, Omega-3 Fatty Acids, and Vitamins & Minerals.
Regional Analysis
Based on geography, the global nutraceutical excipients market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. Pursuant to MRFR, the global market is estimated to be commanded by North America. The rising incidence of respiratory and chronic diseases is known to be one of the most significant factors escalating the demand in the regional market. Further, the prevailing sedentary lifestyle in the region is another vital factor in developing the regional market.
Europe holds the second rank. The rising healthcare expenditure in the region is estimated to be the most significant factor in developing the European market. Further, the robust presence of renowned players is anticipated to drive the market additionally. Besides, the rising economy is likely to play an essential role in growing the market.
On the other hand, the APAC region is estimated to be the fastest-growing market on account of the procurement of substantial market share at a global front. The growing geriatric population, increasing incidence of chronic ailments, rising demand for sports nutrition & health supplements are some of the notable factors influencing the market positively. Further, economically developing countries like India and China are anticipated to strengthen the market further.
The MEA region is likely to acquire the least share. However, the increasing concern towards health is estimated to fuel the regional market during the forecast period.
Key Players
The renowned players of the global nutraceutical excipients market are DowDupont, Sensient Technology Corporation, Ingredion, Cargill Corporation, Associated British Foods plc., Roquette Freres SA, Kerry, JRS PHARMA, Innophos, Inc., and Hilmar Ingredients among others.
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