Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Nutraceutical Excipients Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The nutraceutical excipients market size has grown strongly in recent years, growing from $3.73 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to several factors. Firstly, there has been an increasing demand for nutraceutical products. Secondly, there is a growing awareness of the health benefits of nutraceuticals among consumers. Thirdly, advancements in technology and product innovation have contributed to the growth. Additionally, the increasing healthcare costs and the need for preventative healthcare have also played a role. Finally, the growing aging population and the prevalence of chronic diseases have further fueled the growth of the nutraceutical industry.
The nutraceutical excipients market size is expected to see strong growth in the next few years, reaching $5.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period is driven by several factors, including increasing awareness of nutraceutical applications, a growing demand for functional foods, the rising prevalence of chronic diseases, advancements in technology and product innovation, and the expansion of healthcare infrastructure and insurance coverage in developing countries. Major trends in the forecast period include the adoption of clean label excipients, advanced delivery systems, the development of customized excipient solutions, and a focus on sustainability.
The increasing emphasis on health and wellness is anticipated to drive the growth of the nutraceutical excipients market in the future. Nutraceutical excipients play a crucial role in enhancing the bioavailability, stability, delivery, palatability, and regulatory compliance of nutraceutical products, thereby improving their effectiveness in supporting overall health and wellness. For example, a survey of 7,500 consumers conducted by McKinsey & Company in April 2021 revealed that approximately 79% of consumers consider wellness important, with 42% ranking it as a top priority. Moreover, around 37% of consumers were projected to increase their spending on wellness services in 2022. Consequently, the growing demand for health and wellness is fueling the expansion of the nutraceutical excipients market.
Major companies in the nutraceutical excipients market are focusing on developing innovative products, such as Omyanutra 300 DC and Omyanutra 300 Flash, to address processing challenges and enhance the effectiveness of nutraceutical products. These products, based on functionalized calcium carbonate (FCC) and croscarmellose sodium, are free from nanoparticles, non-GMO, and made of high-purity minerals. For example, Omya, a Switzerland-based chemical industry company, launched Omyanutra 300 DC and Omyanutra 300 Flash in July 2021. These excipients were specifically designed to tackle processing challenges in dietary supplements and nutraceutical tablets. They are made of high-purity, natural mineral material and offer better compatibility compared to benchmark excipients, enabling the creation of hard tablets at low compression forces. Additionally, these excipients cater to the increasing demand for orally disintegrating tablets (ODTs) in the nutraceutical industry, further enhancing supplement processing.
In September 2022, Roquette Freres, a French-based provider of pharmaceutical and nutraceutical excipients, acquired Crest Cellulose for an undisclosed amount. This acquisition is part of Roquette's strategy to enhance its plant-based excipient portfolio, particularly for the nutraceutical industry. Additionally, Roquette aims to strengthen its presence in the Asia-Pacific region, where Crest Cellulose is based. The acquisition aligns with Roquette's strong growth ambitions and its commitment to meeting the increasing demand for plant-based excipients. Crest Cellulose, an India-based manufacturer, specializes in pharmaceutical excipients.
The main types of nutraceutical excipients include fillers and diluents, binders, disintegrants, coating agents, flavoring agents, and lubricants. Fillers and diluents, for example, are commonly used to add bulk, improve processing, and ensure uniformity in the final product. These excipients come in dry and liquid forms and are utilized by various end users, including protein and amino acids, prebiotics and probiotics, vitamins, and others.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Report Scope
Markets Covered:
1) By Product Type: Fillers And Diluents; Binders; Disintegrants; Coating agent; Flavoring Agents; Lubricants.
2) By Form: Dry; Liquid
3) By End Use: Protein And Amino Acids; Prebiotics and Probiotics; Vitamins; Other End Uses
Key Companies Mentioned: Cargill Incorporated; BASF; Air Liquide; CJ CheilJedang Corporation; Evonik Industries AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $4.03 Billion |
| Forecasted Market Value (USD) by 2028 | $5.28 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Companies Profiled:
- Cargill Incorporated
- BASF
- Air Liquide
- CJ CheilJedang
- Evonik Industries
- Associated British Foods
- Dow DuPont Inc.
- International Flavors And Fragrances
- Conagra
- Kerry Group plc
- Ingredion
- Givaudan
- Lonza Group
- Glanbia plc
- Barilla Group
- Sensient Technologies Corporation
- Azelis Group
- Hilmar Cheese Company Inc
- Ashland Inc.
- Hawkins Inc.
- Innophos
- SPI Pharma Inc.
- Nexira
- Pfanstiehl Inc.
- Biogrund
For more information about this report visit https://www.researchandmarkets.com/r/iul2h9
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