Nutraceutical Excipients Market, by Functionality (Binders, Fillers & Diluents, Coating Agents, and Flavouring Agents), End Product (Prebiotics, Probiotics, Proteins & Amino Acids, and Vitamins), Form (Dry and Liquid) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Nutraceutical Excipients Market size is projected to reach a CAGR of 7.3% from 2023-2030.
The word ‘nutraceutical’ is derived from nutritional and pharmaceutical which are also known as functional foods. They are generally utilized as a dietary supplement. They are known to provide protection against chronic disease and are beneficial for spine and joint problems. They are extensively consumed for extra nutrition. The nutraceutical is also used for methionine, olive oil, fish oil, denatured type II collagen and numerous other botanical extracts.
The rise in demand for fortified food products, increase in health consciousness among consumers and growing emphasis on preventive care is encouraging investments in products or solutions are the major factors driving the growth of the nutraceutical excipient market. The rise in the incidences of chronic diseases among consumers, deficiency of nutrition and growth in awareness regarding diseases and preventive care among the population accelerates the nutraceutical excipient market growth. The advancements in nanotechnology equipped with new features, the introduction of mandates on food fortification by government organizations and the rise in awareness regarding the health benefits of nutraceutical excipients further influence the nutraceutical excipient market. Additionally, increasing focus on preventive healthcare, change in consumer lifestyle, increase in disposable income, growth in food processing applications and surging healthcare expenditure positively affect the nutraceutical excipient market. Furthermore, the high use of excipients with multifunctional properties extends profitable opportunities to the nutraceutical excipient market players in the forecast period.
On the other hand, a decrease in returns on research and development investments and high costs associated with the clinical trials and registration are the factors expected to obstruct the nutraceutical excipient market growth. Consumer scepticism associated with nutraceutical products due to rural and semi-urban consumer perceptions on dietary is projected to challenge the nutraceutical excipient market in the forecast period.
The nutraceutical excipients market is poised for significant growth in the coming years, driven by the increasing demand for nutraceutical products and the development of new excipient technologies. As consumers become more health conscious, they are turning to nutraceuticals as a way to supplement their diets and improve their overall health and wellness. The use of nutraceutical excipients is critical in the formulation of these products, allowing for improved stability, bioavailability, and other key properties.
The nutraceutical excipients market is also being driven by the development of new excipient technologies, such as nanotechnology and microencapsulation, which offer improved performance and functionality. These technologies are helping to address some of the key challenges in the development of nutraceutical products, such as poor solubility and stability.
North America to Dominate the Market