Overview:
The 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.
Hike in investment related to healthcare, transforming lifestyle triggering various diseases, and others are major factors that can significantly inspire the growth rate of the market. The growing awareness among people regarding health benefits, an increasing number of products entering the pipeline, and others can inspire the growth of the market. On the other hand, stringent regulations can hold back the growth rate in the coming years. But the market can bank on the developing technologies for better growth assistance.
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Segmentation:
The global market for nutraceutical excipients is set to find a segmentation in the report that would be based on form, function, type, and application. These segments have a better acceptance of various factors that can be taken into consideration to understand how the market can chart the future path.
By function, the market for nutraceutical excipients can be segmented into fillers, diluents & bulking agents, disintegrants, binders, lubricants, sweeteners, coating agents, and colors & flavors. The fillers, diluents & bulking agents have a chance to expand at 8.34% CAGR during the forecast period.
By form, the market for nutraceutical excipients can be segmented into liquid and dry. The former has a better market share. It has a coverage of almost 55% of the global market. It had a market valuation of USD 1 Bn in 2017. The dry segment can score a 7.34% CAGR during the review period.
By application, the market for nutraceutical excipients can be segmented into omega-3 fatty acids, proteins & amino acids, probiotics & prebiotics, and vitamins & minerals. The probiotics & prebiotics segment had the market command in 2017 when it had coverage of 47.5% market share. Its CAGR would be impressive. However, the vitamins & minerals segment has the chance for growth with a CAGR of 7.92% during the forecast period.
By type, the market report that includes nutraceutical excipients can be segmented into artificial and natural/organic. The artificial segment had better market dominance in 2018. But growing consumer awareness can inspire a better intake of the natural/organic nutraceuticals products.
Regional Analysis:
The Americas have a high chance of contributing the maximum revenues in terms of fetching from the profit. The regional market has North and South America. North America includes the US and Canada where various global nutraceutical excipients market players are gaining hike from increasing chronic diseases, high health-related investment, better awareness, assistance from various policies, and others are expected to create better provision for the global market. Various changes in the lifestyle have influenced a hike in various diseases like diabetes, respiratory issues, and others. The market in Europe is expected to establish itself as the second-best market. Its resemblance to North America can inspire better market growth. Health cost expenditure in the region is quite high owing to which the market can witness better growth. Its intake as a preventive measure is quite high in the region.
The market in Asia-Pacific has potential as the region has several developed and fast-developing countries. For instance, markets like Australia, Japan, India, China, and South Korea can inspire the global market to register the fastest CAGR in the coming years. The market would benefit from a large number of consumers as well.
Competitive Landscape:
A lot of companies are trying to make the market for the global nutraceutical excipients prosper with high growth opportunities. These segments are known for extensive participation in taking the market ahead. MRFR recorded their recent steps to gauge in which direction the market is moving and find better growth possibilities there. These companies are Ingredion, Cargill Corporation, Kerry, Sensient Technology Corporation, Associated British Foods plc, JRS PHARMA, Roquette Freres SA, DowDupont, Innophos, Inc., and Hilmar Ingredients.
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