Jersey City, NJ, May 09, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Nutraceutical Contract Manufacturing Services Market Size, Share & Trends Analysis Report By Dosage Form (Tablets, Capsules, Liquid Oral, Powder In Sachet /Jar, Gummies, Energy Bars), By Product (Dietary Supplements, Proteins & Amino Acids Supplements; Weight Management And Meal Replacer Supplements; Multivitamin, Multi-Mineral, And Antioxidant Supplements)- Market Outlook And Industry Analysis 2031"
The global nutraceutical contract manufacturing services market is estimated to reach over USD 362.24 billion by 2031, exhibiting a CAGR of 11.8% during the forecast period 2023-2031.
Nutraceutical contract manufacturing services develop rules for product inspection and testing that are set either by the company that contracts out the manufacturing or by its own clients. It also describes order adjustments, as well as assurances and compensation in the event of a breach of contract. Because the procedure essentially involves outsourcing production in foreign markets to a partner who would privately brand the end product, this form of contract can be used by a variety of organizations and industries.
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Factors such as expanding consumer health consciousness, the availability of modern technology and the region's growing number of contract manufacturing enterprises are likely to promote the expansion of the overall nutraceutical contract manufacturing market. Furthermore, the increase in regional pharmaceutical and food sectors is likely to boost the expansion of the nutraceutical contract manufacturing market.
Recent Developments:
- In March 2023, Evonik Industries AG announced the establishment of a new GMP facility to produce lipids for innovative pharmaceutical drug delivery applications. The lipid launch facility is located in the company's headquarters in Hanau, Germany, and offers customers lipid amounts required for clinical and small-scale commercial manufacture.
List of Prominent Players in the Nutraceutical Contract Manufacturing Services Market:
- Ashland Glanbia plc
- Herbalife International of America, Inc
- Biotrex Nutraceuticals
- Martínez Nieto
- Menadiona
- NUTRASCIENCE LABS
- NUTRIVO
- American Health Foundations, INC.
- Gemini Pharmaceutical
- Biovencer Healthcare Pvt Ltd
- Rain Nutrience Ltd.
- Quest Nutra Pharma
- EnzymeWorks, Inc.
- Vestanutra
- Ajinomoto
- Etnovia Oy
- MBi Nutraceuticals
- Superior Supplement Manufacturing
Nutraceutical Contract Manufacturing Services Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 134.6 Bn |
| Revenue forecast in 2031 | USD 362.2 Bn |
| Growth rate CAGR | CAGR of 11.8 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Product Type, Dosage Form |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Market Dynamics:
Drivers-
Manufacturing takes time and is inefficient, and management is a big burden for both public and private sector organizations. They are also necessary for addressing complex difficulties because a single organization is less effective at driving change and, in some cases, achieving the desired goals. Contract manufacturing enterprises will provide new prospects for both the public and private sectors. The increased need for contract manufacturing with more precision and fewer time constraints drives key firms to embark on strategic initiatives. Owning contract manufacturing frees up the overhead costs associated with investing in machinery, materials, and additional labor, simplifying the production process and streamlining the supply chain while lowering total costs.
Challenges:
To cut costs, most pharmaceutical companies are constructing manufacturing facilities to make pharmaceutical medicines. Manufacturers are focusing their efforts on the introduction of innovative technology and the digitization process. The pharmaceutical industry is also facing changes due to new business models and a better-focused population on personalized medicines and treatments. As a result, there is a considerable demand for personalized care. Occupational profiles are evolving as well: certain professions are being eliminated owing to automation while whole new jobs are being created. As a result, the growing number of pharmaceutical companies establishing production units may pose a challenge to the growth of the worldwide contract manufacturing market over the forecast period.
Regional Trends:
Asia Pacific Nutraceutical Contract Manufacturing Services Market is expected to register a significant market share in terms of revenue and is anticipated to expand at a high CAGR shortly because of its high demand from countries like China, India, Japan, South Korea, and Australia. Consumers' increasing health concerns, the availability of modern technology and the region's growing number of contract manufacturing enterprises are likely to boost the expansion of the nutraceutical contract manufacturing services market. Moreover, North America is likely to grow at a rapid pace. This is due to the existence of significant market participants, the increasing prevalence of chronic diseases, and powerful academic and research institutions.
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Segmentation of Nutraceutical Contract Manufacturing Services Market-
By Form-
- Tablets
- Capsules
- Liquid Oral
- Powder In Sachet / Jar
- Gummies
- Energy Bars
- Other suitable forms (Diskettes, etc.)
By Product-
- Dietary Supplements
- Proteins & Amino Acids Supplement
- Weight Management and Meal Replacer Supplement
- Multivitamin, Multi-Mineral, and Antioxidant Supplement
- Others (Omega Fatty Acids, etc.)
- Functional Food and Beverages (Inclusive of Energy Drinks, Re-Constitutional One Shot Powder, etc.)
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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