NEWARK, Del, Aug. 01, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global nutraceutical excipient market is estimated to reach US$ 2,663.4 million in 2024. The market is expected to register a CAGR of 6.4% from 2024 to 2034, reaching a valuation of US$ 4,958.7 million by 2034.
The growing health and wellness-conscious consumer base has led to a surge in demand for nutraceutical excipients, necessitating the development of products with enhanced functional properties. Furthermore, the increasing prevalence of lifestyle diseases is expected to significantly boost nutraceutical excipient sales during the projected period.
The nutraceutical excipient market is expected to be influenced by the growing acceptance of preventive healthcare, the geriatric population, and the easy accessibility of healthcare products through e-commerce platforms. Advancements in processing technologies such as nanotechnology, rising demand for tailored medication per target customer, and increasing usage of multidimensional and multifunctional excipients are creating growing opportunities for the target market.
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The nutraceutical excipient market is expected to experience potential growth due to evolving consumer preferences for preventive healthcare and lifestyle maintenance. However, the high manufacturing costs and stringent regulatory compliances are set to restrict new entrants in this field, affecting the market's growth prospects.
Key Takeaways from the Report:
- The global nutraceutical excipient market is expected to reach a valuation of US$ 4,958.7 million by 2034.
- The market is set to surge at a CAGR of 6.4% over the forecast period
- The United States is set to surge at a CAGR of 7.2%, showing significant growth over the forecast period.
- India is expected to reach US$ 388.4 million by 2034.
- China is projected to surge at 7.8% CAGR by 2034.
“Nutraceutical manufacturers and leading companies are seeking customized excipient solutions, including co-processing technologies and multifunctional excipient systems, to meet precise and specific formulation requirements, according to excipient consumers and suppliers.” says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
Ingredion Incorporated, Cargill Incorporated, Dow Du Pont Inc., Kerry Group PLC, and Roquette Frères SA are the few leading players in the market. Acquisitions and mergers enhance product safety quality and market coverage by combining resources, product knowledge, and processing technology, providing access to new distribution channels.
Correspondingly, introducing new products with enhanced and improved efficiency with wide application is set to help companies stay competitive and meet the changing consumer demands. For instance,
- In September 2022, Roquette acquired Crest Cellulose, an India-based excipient manufacturer.
- In 2023, Roquette announced the addition of three new excipient grades to its unmatched portfolio of solutions for moisture-sensitive active pharmaceutical products and ingredients.
Get More Valuable Insights
Future Market Insight’s (FMI) has released an objective assessment of the global nutraceutical excipient market, presenting past demand data from 2019 to 2023 and projecting forecast statistics for the 2024 to 2034 period.
The study incorporates compelling insights on the nutraceutical excipient market based on product type (wintergreen, cinnamon, chocolate mint, peppermint, spearmint), end-use (hypermarket/supermarket, convenience stores, pharmacies, specialty stores, grocery stores, wholesale stores, online retail), form (capsule, pills, spray), and region (North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa)
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Global Nutraceutical Excipient Market Segmentation by Category
By Product Type:
- Wintergreen
- Cinnamon
- Chocolate Mint
- Peppermint
- Spearmint
By End-use:
- Hypermarket/Supermarket
- Convenience Stores
- Pharmacies
- Specialty Stores
- Grocery Stores
- Wholesale Stores
- Online Retail
By Form:
- Capsule
- Pills
- Spray
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About the Food & Beverage Division at Future Market Insights (FMI)
FMI's Food & Beverage team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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