New York, NY, July 09, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Nutraceutical Excipients Market By Type (Fillers & Diluents, Binders, Coating Agents, Disintegrants, Lubricants, and Flavoring Agents), by Application (Prebiotics, Probiotics, Amino Acids & Proteins, Minerals, Vitamins, and Omega-3 Fatty Acids): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”.
According to the report, the global nutraceutical excipients market accounted for USD 4.18 billion in 2017 and is expected to reach USD 6.26 billion by 2024, growing at a CAGR of around 8.41% between 2018 and 2024.
The global nutraceutical excipients market is expected to witness significant growth over the forecast period on account of increasing health awareness across the globe. Nutraceutical excipients refer to bioactive compounds that are used for enhancing the bioavailability of nutraceuticals.
Browse through 37 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Nutraceutical Excipients Market 2017: Industry Size, Share, Trends, Analysis, and Forecast to 2024”.
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Nutraceutical excipients market is rapidly growing on account of demand from several regions of the world. Nutraceutical refers to a material used standard nutrient or pharma grade nutrient. They are most commonly used as pharmaceutical formulations and food additives which are granted by the U.S. FDA under food and cosmetic act. The nutraceutical excipients are bioactive compounds, which are used to improve the bioavailability of nutraceuticals. Excipients most commonly provide functionality in medical dosage forms and help in improving the drug's functionality in the body of a recipient.
Increased consumer awareness about health & fitness coupled with the nutraceuticals being added in the pharmaceuticals & food products and supplement industry and rise in disposable income in emerging countries are the factors expected to boost the growth of nutraceutical excipients market in the forecast years. In addition, an increase in the occurrence of lifestyle-related diseases such as diabetes, cardiac diseases, and blood pressure has aided in fueling the growth of the market. However, the amount of nutrients consumed by population is less than required due to a hectic lifestyle and rising health care expenditure. Less intake of nutrition is due to the consumer’s busy lifestyle and the high cost of healthcare. Furthermore, increasing advancements in technology for the development of nutraceuticals result in providing significant opportunities to various pharmaceutical sectors. Several factors can hamper the growth of the market such as declining R&D investment and research related to nutraceuticals excipients.
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Nutraceutical products are unstable to alkaline pH, oxygen, heat and light, and high humidity. Nutraceuticals excipients such as coating agents, flavoring agents, disintegrants, lubricants, binders, fillers, and diluents help to control the unstable nature of nutraceutical products. It also has a variable particle size distribution, poor flow, and poor bulk density. Nutraceutical excipients are used as a binder in a tablet which helps to stabilize active ingredients in the formulation. Nutraceutical excipients are used in a different form of supplements ex. capsules, liquid syrups, powders, and tablets.
The nutraceutical excipients market is segmented into categories by their application namely probiotics, prebiotics, proteins & amino acids, vitamins, minerals, omega-3 fatty acids. The probiotics and prebiotics segment accounted for the majority of the global volume in 2017. Vitamins and minerals are expected to be the fastest growing segment in the forecast period. On the basis of type, the global nutraceutical excipients market is categorized into lubricants, disintegrants, coating agents, binders, fillers & diluents, and flavoring agents.
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Europe is the largest region contributing to the global nutraceutical excipients market growth during the forecast period. The demand for nutraceutical excipients has increased due to the presence of pharmaceutical companies in the European region. Pharmaceutical companies are focusing on applications of nutraceuticals in medicines, particularly for human usage. There are a substantial demand and popularity for pharmaceuticals in Europe, which can potentially fuel the nutraceutical excipients market development. The consumer preference for healthy nutritious supplement product is projected to offer opportunities for the nutraceutical excipients market.
North America was the second largest market for nutraceutical excipients in 2017 and accounted for a significant share of the global market owing to the large pharma & chemical industries such as Ingredion, Cargill, Kerry, and Dupont, especially in the U.S. and Canada. North America is expected to witness significant growth within the forecast period owing to changing trends in the dietary supplement market. In addition, the cost-effectiveness and convenience activities in the region are also expected to aid the growth of the nutraceutical excipients market within the forecast period. This region is significantly growing due to increased research about bioavailability and stability of drug & excipients. In addition, the company prefers biobased adhesive for drug tablet manufacturing, this is expected to open up new opportunities in the forecast period.
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Latin America is expected to witness diminishing growth within the forecast period. However, Latin America is expected to open potential opportunities for the nutraceutical excipients market owing to the developing healthcare industry, especially in Brazil. The growing urbanization and changing lifestyles are also expected to aid the growth of the pharmaceutical industry, consequently fuelling the demand for the nutraceutical excipients market.
The Middle East and Africa are expected to grow at a sluggish rate for nutraceutical excipients within the forecast period. Countries in the Middle East and Africa have witnessed a rise in living standards and health awareness. Globalization and a heavy influx of expatriates in the Middle East, especially in countries such as Oman, Qatar, and UAE are expected to fuel the pharmaceutical industry in the region. The high demand for medicines in the market is also expected to boost the demand for nutraceutical excipients in forecasted years.
The key players operating in this industry are Eastman Chemical Corporation, P&G Chemicals, Lubrizol Corporation, Avantor Performance Materials, LLC, Ashland Inc., BASF SE, Roquette, Huntsman Corporation, FMC Corporation, JRS Pharma, Valeant, Shin-Etsu Chemical Co., Ltd., Colorcon Inc, Finar Limited, and DFE Pharma, among others.
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This report segments the global nutraceutical excipients market as follows:
Global Nutraceutical Excipients Market: Type Analysis
- Fillers & diluents
- Binders
- Coating agents
- Disintegrants
- Lubricants
- Flavoring agent
Global Nutraceutical Excipients Market: Application Analysis
- Prebiotics
- Probiotics
- Amino acids & proteins
- Minerals
- Vitamins
- Omega-3 fatty acids
Global Nutraceutical Excipients Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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