Nutraceutical Excipients Market Insights
According to new reports published by Market Research Future, the global nutraceutical excipients market is expected to gain a valuation of USD 4800 Mn by the year 2023 end. The market is set to remain at a lucrative stage of growth with paving ways for opportunities to dwell in during the forecast period.
The word ‘nutraceutical’ is devised from nutritional and pharmaceutical elements, which is also termed to be functional foods. They are chiefly used as a dietary supplement and provide protection against chronic diseases and even beneficial for other health problems. The primary purpose is fulfilled as to give extra nutrition to the body. Multifunctionality of excipients to has been the emerging trend in recent times, which has given the nutraceutical excipients market the maximum traction since past years. With the growing demands of nutraceuticals for having proven health benefits has determined the diseases to be at bay and allows a person to maintain overall good health.
Global Nutraceutical Excipients Market: Drivers & Trends
The global nutraceutical excipients market is booming rapidly owing to the factors such as increasing demands of nutraceuticals, at the global level. Whereas, the demand for nutraceuticals is driven by increasing awareness among consumers about their health and fitness. The consumers today are capable of making a considerable expenditure, which has triggered their mindset to spend on health issues to stay fit and healthy.
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With that, some factors such as increasing aging population, growing urbanization and changing lifestyle with spreading health issues such as blood pressure, diabetes, and cardiac diseases are all causing the global nutraceutical excipients market to expand rapidly in current years, which would surpass by better valuation in the years to come. Moreover, the development of multifunctional excipients is further providing significant opportunities for the nutraceutical excipients market to expand at exponential rates.
At the same time, factors such as the expansion of the wellness industry are also opening new windows of growth for global nutraceutical excipients market during the forecast period. To continue with the factors for the growth of the nutraceutical excipients market is also attributed to the rising healthcare cost. Various types of nutraceutical products are available in the market, such as dietary supplements, prebiotics, probiotics, antioxidants, and others, which can cater to the need for healthy food for consumers at affordable costs. This factor is also supporting the global nutraceutical excipients market to rise rapidly in the years to come.
Nutraceutical Excipients Market Segmentation
The global nutraceutical excipients market has been segmented based on function, form, application, and type.
By the mode of function, the market includes fillers, diluents & bulking agents, binders, disintegrates, sweeteners, coating agents, lubricants, colors & flavors.
By the mode of form, the market comprises of dry & liquid.
By the mode of application, the market includes probiotics & prebiotics, proteins & amino acids, omega-3 fatty acids, vitamins & minerals.
By the mode of type, the market comprises of artificial and natural/organic.
Nutraceutical Excipients Market Regional Analysis
The global nutraceutical excipients market is profiled under key geographies such as North America, South America, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).
The report finds that North America to be the largest market share which is mainly attributed to the increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, respiratory diseases; sedentary lifestyle; rising public healthcare cost; growing public awareness of diet and health; and growing aging population.
With is, it is observed that there has been a rising demand for low-cost nutraceutical excipients in the Asia Pacific and the Middle East, which has triggered the global nutraceutical excipients market to expand in this region. The factors owing to such high growth is rushing consumption rate of it within the local nutraceutical and nutraceutical excipients manufacturing space. Recently, there has been a demand for high-quality nutraceutical excipients that, which is further receiving strong support from multiple government-driven initiatives related to overall drug manufacturing and healthcare services in this region.
Nutraceutical Excipients Market Key Players
Leading players in the global nutraceutical excipients market include Cargill Corporation, Ingredion, Associated British Foods plc, Kerry, Roquette Freres SA, JRS PHARMA, Innophos, Inc., DowDupont, Sensient Technology Corporation, and Hilmar Ingredients.
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Nutraceutical Excipients Industry News
May 30, 2019: Ropack Pharma Solutions announced dry blending services for API’s excipients and nutraceuticals. The blending of APIs excipients and nutraceuticals happened to create a homogenous blend, which is termed to be a crucial component in the solid dose and powder dose pharmaceutical manufacturing process.