(Entertainment-NewsWire.com, May 10, 2024 ) the global nutraceutical excipients market will grow from USD 4.2 billion in 2023 to USD 6.1 billion by 2028, growing at a CAGR of 7.7% during the forecast period. The burgeoning popularity of nutraceuticals in recent years reflects their usage for diverse therapeutic purposes. This trend underscores their significance in addressing various ailments and diseases, ranging from cancer and heart conditions to cataracts, menopausal symptoms, insomnia, memory issues, gastrointestinal problems, headaches, and migraines caused by stress. Nutraceuticals derived from combinations like ginger, garlic, and honey are gaining trust for their efficacy in treating specific health concerns. Additionally, products such as green tea, Vitamin E, and Vitamin C target issues like thinning hair, complexion problems, varicose veins, alcoholism, depression, and lethargy. This surge in nutraceutical usage signifies substantial growth prospects for the pharma industry. Factors driving this market expansion include an aging population, increasing healthcare costs, advancements in food technology and nutrition, and growing consumer awareness of the link between diet and health. Consequently, this heightened demand for nutraceutical products directly influences the nutraceutical excipients market by necessitating enhanced formulations, specialized excipients, and innovative technologies to optimize the efficacy and delivery of these beneficial compounds in various supplements and functional foods.
The organic chemicals product source of the nutraceutical excipients segment is driving the market due to consumer preference for natural products, reduced allergenic potential, and clean label trend.
The burgeoning nutraceutical excipients market is fueled by the escalating consumer demand for natural and organic ingredients. Consumers' heightened awareness regarding ingredient sourcing and quality in supplements and functional foods is a driving force behind this surge. This increasing consciousness directly influences the market's growth, as consumers actively seek excipients derived from organic materials to align with their preference for natural sources. Additionally, the potential allergenic risks associated with synthetic excipients further elevate the appeal of organic chemicals sourced from natural origins, particularly among sensitive consumer demographics seeking safer alternatives.
Moreover, the prevailing clean label trend, emphasizing ingredient transparency and simplicity, significantly contributes to the rising prominence of organic chemicals in nutraceutical excipients. These organic sources are perceived as "cleaner" and more straightforward, aligning seamlessly with consumer expectations for clear and uncomplicated ingredient lists. Consequently, manufacturers are prompted to integrate organic excipients into their formulations to address consumer demands for transparency and simplicity, further propelling the growth of the nutraceutical excipients market.
The increasing demand for dry excipients stems from their remarkable ability to offer formulation flexibility, allowing manufacturers to craft a wide array of dosage forms like tablets, capsules, powders, or granules. This versatility enables tailored formulations that cater to specific consumer preferences, optimizing drug delivery systems accordingly. Additionally, the compatibility of dry excipients with a diverse range of active ingredients makes them highly sought-after across pharmaceuticals, nutraceuticals, and various industries, providing manufacturers with extensive application possibilities.
Furthermore, the appeal of dry formulation excipients lies in their designed capacity to enhance the solubility and dissolution rates of active compounds. This attribute plays a pivotal role in facilitating the swift and efficient release of active ingredients within the body, thereby significantly improving the bioavailability of these compounds. Moreover, the demand for these excipients is propelled by their contribution to ensuring the stability and prolonged shelf life of formulations. By safeguarding active ingredients against degradation caused by moisture or environmental factors, dry excipients uphold the efficacy of products over time, meeting the expectations for quality and longevity in the market.
North America accounts largest share of the nutraceutical excipients market and is witnessing growth due to the strong presence of key companies and increasing lifestyle diseases & health concerns.
In North America, numerous prominent players and leading manufacturers dominate the nutraceutical industry. These influential companies play a pivotal role by consistently engaging in research, innovation, and the development of new products, significantly contributing to the market's growth. The region's escalating health concerns, encompassing issues like obesity, cardiovascular diseases, and lifestyle-related conditions, have prompted consumers to actively pursue preventive healthcare measures. As a result, there's a heightened demand for nutraceutical products perceived as valuable in addressing these health issues. This increased demand directly fuels the market for nutraceutical excipients, essential components in the formulation of these sought-after health-focused products.
The key players in the nutraceutical excipients market include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany).
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
