Nutraceutical Excipients Market – Overview
Global Nutraceutical Excipients Market is growing pervasively. The market growth is mainly driven by the burgeoning nutraceutical sector. In 2017, the market had reached USD 3104.96 Mn and is expected to value at USD 4818.70 Mn. by 2023.
Excipients are inactive components added to nutraceuticals during its production to help stabilize the ingredients. Nutraceutical excipients perceive augmenting demand, which in turn, substantiates its market size globally.
Nutraceuticals are dietary supplements that assist in the treatment and prevention of diseases. Medical practitioners advise nutraceuticals so as to provide medical benefits during the treatments for chronic diseases and disorders such as COPD, asthma, cancer, certain heart problems, and diabetes. Increasing prevalence of chronic diseases leads to increase sales of Nutraceuticals, further driving its market growth of Excipients.
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Improving economy is undoubtedly one of the key factors propelling the market growth, increasing the quality of life and access to the healthcare. Additionally, factors such as increasing awareness among consumers towards the advantages of Nutraceuticals, expand the growth of nutraceutical excipients market.
On the other hand, some excipients, can initiate or participate in chemical and physical interactions, compromising the efficacy of a nutraceutical. Hence, the regulatory bodies standardize manufacturing and distribution processes of nutraceuticals. They scrutinize the type, quality, and the amount of ingredients added in a nutraceutical, and the labeling criteria for various ingredients that are to be mentioned on product labels.
Top Players:
Cargill Corporation, Ingredion, Associated British Foods plc, Kerry, Roquette Freres SA, JRS PHARMA, Innophos, Inc., DowDupont, Sensient Technology Corporation, and Hilmar Ingredients.
Nutraceutical Excipients Market – Segmentation
On the basis of types, the market is segmented into artificial and natural/organic. In 2017, the artificial segment accounted for the largest market share. This segment is projected to expand at 7% CAGR during the forecast period. However, the natural/organic segment is projected to exhibit a relatively higher CAGR during the review period.
On the basis of functions, the market is segmented into fillers, diluents & bulking agents, binders, disintegrants, sweeteners, coating agents, lubricants, and colors & flavors. Out of these, the fillers, diluents & bulking segment accounted for the largest market share in 2017. On the basis of forms, the market is segmented into dry and liquid. In 2017, the dry segment accounted for 55% of the market share and stood at over USD 1700 Mn. The segment is forecasted to witness a healthy CAGR during the assessment period.
On the basis of Applications, the market is segmented into Probiotics & Prebiotics, Proteins & Amino Acids, Omega-3 Fatty Acids, and Vitamins & Minerals. The probiotics & prebiotics segment, in 2017, accounted for 47.5% of the market share, valuing at USD 1476.17 Mn. The segment is forecasted to register a strong growth during the estimated period. The vitamins & minerals segment is likely to post a CAGR of 7.92% during the review period.
Nutraceutical Excipients Market – Regional Analysis:
Globally, the North America market dominates the nutraceutical excipients market. Increasing prevalence of respiratory diseases and chronic diseases drives the market growth in the region. The sedentary lifestyle is the primary factor fuelling the incidences of chronic diseases.
Also, other factors like the rising geriatric population, increasing healthcare expenditure, coupled with the growing awareness among people towards the benefits of healthy diet, are increasing sales of nutraceutical and hence the market growth of nutraceutical excipients in the region.
The Europe market accounts for the second-largest market for the Nutraceutical excipients owing to the presence of well-established players and growing healthcare expenditures in the region. Certainly, the resurging economy is the main driving force increasing the market value in the region.
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The Asia Pacific nutraceutical excipients market emerging as the fastest growing market accounts for a substantial market share on the global platform. Factors such as the proliferation of healthcare sector in populous countries such as India and China substantiate the market growth in the region.
Increasing geriatric populace, rising cases of patients suffering from the chronic diseases, growing awareness about the healthcare, and increasing demand for sports nutrition & health supplements influence the market growth positively.
Major TOC of Nutraceutical Excipients Market Research Report – Forecast to 2023:
1 Report Prologue
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Nutraceutical Excipients Market, By Function
7 Global Nutraceutical Excipients Market, By Form
TOC CONTINUED…!
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