4th May 2023
The market for the additives used in nutraceuticals—i.e., goods that combine the advantages of nutrition and pharmaceuticals—to help in their production, handling, and delivery—is referred to as the nutraceutical excipients market. Excipients for nutraceuticals can be used to enhance the solubility, stability, bioavailability, and flavor of these products.
The market for excipients used in nutraceuticals was estimated at USD 1.36 billion in 2020, and from 2022 to 2030, it is anticipated to expand at a CAGR of 7.2%. Growth in the market is anticipated to be fueled by rising consumer demand for nutraceutical goods because of its alleged health advantages and rising awareness of preventative healthcare.
The constituents in a nutraceutical product are held together by a variety of nutraceutical excipients, such as binders, fillers, and diluents. Disintegrants are substances that aid in the product's digestion and release of its active components. The active chemicals are shielded from moisture, light, and other elements that can cause them to deteriorate using coating agents. Other excipients, such as lubricants and glidants, are used to facilitate the manufacturing process while flavoring agents are used to enhance the product's flavor and aroma.
Binders, fillers & diluents, disintegrants, coating agents, flavoring agents, and other products can all be classified as market segments. Due to their extensive use in nutraceutical formulations, the fillers & diluents category among these had the greatest market share in 2020. However, due to their capacity to enhance the bioavailability of nutraceuticals, disintegrants are anticipated to grow at the highest CAGR during the forecast period.
Based On Application
Dietary supplements, functional foods, and drinks make up three market segments. Due to the rising need for supplements to preserve health and prevent illnesses, the dietary supplements sector had the greatest market share in 2020. However, due to the rising demand for natural and functional ingredients in food and beverage products, the functional foods and beverages segment is anticipated to grow at a significant rate during the forecast period.
Based On Functionality
The market may be divided into segments for coating, flavoring & sweetening, binding, and disintegration. Due to the rising need for increased bioavailability and a quicker beginning of the action, the disintegration segment commanded the greatest market share in 2020. However, due to the rising demand for protection against moisture and other external factors, the coating segment is anticipated to expand at a significant rate during the forecast period.
Based On Region
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the market's segmentation. In this group, Asia Pacific is anticipated to lead the nutraceutical excipients market throughout the time of forecasting due to the region's sizable population, rising disposable income, and rising demand for nutraceuticals. Due to the high level of awareness regarding preventive healthcare and the existence of large market participants in these areas, North America and Europe are also anticipated to be significant markets.
The rising prevalence of lifestyle illnesses, increased knowledge of preventative healthcare, and rising healthcare expenses are all contributing to a significant rise in the market for nutraceuticals on a global scale. The use of nutraceutical excipients is crucial for enhancing the bioavailability, stability, and sensory properties of nutritional supplements, which are thought to be a secure and efficient substitute for medicines.
Technological Advancements in Excipient Manufacturing
The market is expanding as a result of the creation of novel and cutting-edge technologies for excipient manufacture. Excipients with increased solubility, a quicker start of the action, and better taste and texture are among the unique demands of nutraceutical formulations that manufacturers are concentrating on producing.
Favorable Regulatory Environment
Governments and regulatory organizations are promoting the development of safe and effective nutraceutical products, which has improved the regulatory environment for nutraceuticals and excipients. The market is expanding as a result of manufacturers' increased ability to create and introduce new items.
Increasing the Use of Natural and Functional Ingredients
The market for nutraceutical excipients generated from natural sources is being driven by the expanding trend toward natural and functional components. Manufacturers are reacting to consumer demand for natural and plant-based goods by creating excipients that are sourced from natural sources and are devoid of synthetic components.
Rising Demand for Customized Nutraceutical Formulations
The market is expanding as a result of rising consumer demand for personalized healthcare and the requirement for specialized nutraceutical formulations. The market for specialized excipients is being driven by the need for customized excipients for customized nutraceutical formulations since these formulations have unique requirements.
The market for nutraceutical excipients is anticipated to expand dramatically over the next several years, but there are a number of obstacles that can prevent this expansion. The following are some of the main issues and possible solutions:
Solution: Governments may offer incentives and assistance for the creation of creative excipients, and manufacturers should concentrate on creating scalable and economical production procedures to solve this issue.
Solution: Manufacturers may focus on creating high-quality and secure goods while collaborating closely with regulatory agencies to guarantee criteria are met.
Solution: Manufacturers may focus on creating novel and inventive plant-based products to solve this problem and collaborate with suppliers and farmers to make these foods more widely available.
Solution: Manufacturers can focus on educating the public about the advantages of nutraceuticals and collaborate with healthcare providers to market these goods to overcome this problem.
Solution: Manufacturers might focus on creating goods that provide special advantages that are not offered in the pharmaceutical industry, such as natural and organic goods and goods catered to certain medical requirements, in order to overcome this difficulty.
“In general, working together with manufacturers, regulatory agencies, and other nutraceutical sector players will be necessary to overcome these obstacles. These stakeholders can aid in overcoming these difficulties and fostering market expansion by cooperating.”
Increasing Demand for Functional Foods and Dietary Supplements
In the upcoming years, there will likely be a major rise in demand for dietary supplements and functional foods as people become more aware of the benefits of preventative healthcare and the need for natural and organic products. As these components are crucial for enhancing the bioavailability, stability, and sensory qualities of these products, this presents a sizable opportunity for producers of nutraceutical excipients.
Growing Demand for Customized Formulations
The demand for specialised nutraceutical formulations that can cater to the unique requirements of different customers is rising as the desire for personalized healthcare increases. As these components are necessary for creating specialized formulations that can cater to the individual needs of various consumers, this presents an opportunity for producers of specialized excipients.
Growing Popularity of Plant-Based Ingredients
In the upcoming years, the trend towards natural and plant-based components is anticipated to persist due to rising consumer demand for eco-friendly and wholesome goods. As these ingredients are in high demand and are regarded as being secure and efficient, this presents a chance for producers of plant-based excipients.
Advancements in Technology and Manufacturing Processes
Excipient producers now have the chance to create fresh and inventive excipients that may specifically cater to the requirements of nutraceutical formulations thanks to the advancement of new and cutting-edge production processes.
The burgeoning middle class, rising disposable incomes, and rising knowledge of preventive healthcare are likely to propel growth in emerging regions such as Asia Pacific and Latin America in the next years. Manufacturers of nutraceutical excipients now have a chance to access new markets and grow their businesses.
In conclusion, the demand for functional foods and dietary supplements, the popularity of plant-based ingredients, and improvements in technology and manufacturing processes are all expected to contribute to the significant growth of the nutraceutical excipients market in the years to come. Even though there are some obstacles that could limit growth, such as high development and manufacturing costs, strict regulatory requirements, and a lack of readily available natural excipients, manufacturers can get around these obstacles by concentrating on creating safe and effective products, working with regulatory bodies, and expanding the availability of plant-based ingredients. Overall, the market for nutraceutical excipients offers great potential for development and expansion, especially in developing economies, and is anticipated to rise in significance within the global nutraceutical sector.