The nutraceutical excipient market consists of a wide range of food ingredients that provide health or medicinal benefits in addition to their nutritional value. These excipients are used in dietary supplements to improve bioavailability, mask unpleasant tastes, and facilitate encapsulation of active ingredients. Some common nutraceutical excipients include thickeners, binders, diluents, disintegrants, lubricants, glidants, and solvents. With rising health concerns and awareness about preventive healthcare, consumers are increasingly adopting supplements to maintain overall wellness. This growing demand for dietary supplements is expected to drive the growth of nutraceutical excipients market over the forecast period.
The Global Nutraceutical Excipient Market is estimated to be valued at US$ 3087.7 Bn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the nutraceutical excipient market are Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon. Players are engaging in new product launches and acquisitions to strengthen their market presence.
The rising demand for dietary supplements from millions of health-conscious consumers is a key driver for nutraceutical excipients. Factors such as increasing healthcare costs, rise in lifestyle diseases, and growing geriatric population are expected to fuel this demand over the forecast period.
Technological advancements are allowing manufacturers to develop newer excipients that improve bioavailability, minimize side effects, and facilitate encapsulation of active ingredients in supplements. Nano-encapsulation and controlled-release technologies are seeing increasing adoption.
Market Trends
The popularity of vegetarian and vegan diets globally presents opportunities for manufacturers of plant-based nutraceutical excipients. Companies are developing excipients from natural sources like cellulose, starch, and alginates to cater to these customers.
Growing adoption of personalized nutrition based on an individual’s genes, lifestyle and medical conditions is prompting the development of “targeted” excipients. Excipients tailored to work effectively with specific active ingredients for different population segments will witness more demand.
Market Opportunities
Nutraceuticals for conditions like obesity, diabetes, cardiovascular issues are witnessing heightened demand worldwide due to the growing burden of non-communicable diseases. This presents lucrative opportunities for novel excipients supporting these segments.
Emerging markets like Asia Pacific, Latin America, Africa and the Middle East offer immense potential for nutraceutical excipients due to rising lifestyles diseases, growing health consciousness and increasing disposable incomes in these regions. Global excipient players can consider investing in these markets.
Impact of COVID-19 on Nutraceutical Excipient Market Growth
The COVID-19 pandemic has severely impacted the growth of the nutraceutical excipient market. With lockdowns imposed across major economies, supply chain disruptions and logistical challenges emerged as major bottlenecks affecting the availability of essential raw materials. Production sites were temporarily shut down to comply with social distancing norms which hampered manufacturing activities. On the demand side, consumer spending on supplements declined sharply as discretionary incomes were squeezed. However, the pandemic also underscored the importance of building immunity and maintaining overall wellness. As experts advocate nutraceuticals as a preventive healthcare approach, demand is witnessing an uptick. Moreover, with health emerging as the top priority, spending on supplements is anticipated to gradually recover over the Nutraceutical Excipient Market Demand coming years. Manufacturers are strategizing production ramp-ups to stabilize supplies while ensuring worker safety. Partnerships across the value chain will be critical to mitigate future risks and sustain growth momentum in the post-pandemic environment.
Geographical Concentration of Nutraceutical Excipient Market
North America represents the largest and most lucrative regional market for nutraceutical excipients in terms of value. The region accounted for over 40% revenue share of the global market in 2024 led by strong demand from domestic manufacturers. Furthermore, rising health consciousness and growing tendency to self-medicate with supplements provide a conducive environment for market growth. Europe is the second largest regional market driven by supportive regulations for integrated medicines. Asia Pacific is poised to emerge as the fastest growing region between 2024-2030 on account of expanding health supplements industry, rising disposable incomes, growing middle class as well as increasing investments by major players seeking to tap opportunities in developing economies.
Fastest Growing Region for Nutraceutical Excipient Market
Asia Pacific is projected to be the fastest growing region for the nutraceutical excipient market during the forecast period. Factors such as rapidly developing urban healthcare infrastructure, burgeoning middle class, rising health & wellness awareness coupled with growing domestic nutraceutical production will collectively fuel market demand. China and India are estimated to be the major revenue contributors owing to their large population base, increasing per capita health expenditure and favorable FDI policies. Moreover, local manufacturers are striving to improve formulations and establish international quality standards to address the evolving requirements of global customers. With supportive regulations in tandem with industry investments, APAC is positioned to emerge as the new hotspot for excipient suppliers over the coming decade.
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