by Nutraceutical excipients are food additives and stabilizing agents used in the manufacturing of dietary supplements. They maintain consistency, appearance, stability and bioavailability of nutraceutical products. Some common excipients include binders, fillers, lubricants, glidants and disintegrants which are used to facilitate manufacturing and handling of nutraceutical tablets, capsules and soft gels. Excipients play a vital role in determining the product quality and shelf-life.
The global Nutraceutical Excipient Market is estimated to be valued at US$ 2,680.29 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Market key trends:
Growing health-consciousness and rising disposable incomes in emerging economies have boosted the demand for dietary supplements globally. According to Nutritional Outlook, the global dietary supplements market reached a value of $168 billion in 2022 and is projected to surpass $245 billion by 2030. This rising consumption of dietary supplements is likely to drive the demand for excipients used in their manufacturing. Furthermore, advancements in novel drug delivery technologies are enabling the development of customized nutraceutical formulations using functional excipients. Leading manufacturers are focusing on developing innovative excipients with multifunctional properties like extended-release, targeted delivery and moisture protection to enhance bioavailability and product shelf-life. These key trends are expected to catalyze market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barriers to entry in terms of technology and production capacity. However, established players dominate the market making it difficult for new entrants.
Bargaining power of buyers: Large buyers such as pharmaceutical companies have significant bargaining power due to bulk purchases. This allows them to negotiate lower prices from suppliers.
Bargaining power of suppliers: A few key global players control majority of the supply. This gives them bargaining power over buyers in terms of pricing and supply agreements.
Threat of new substitutes: Limited threat as excipients differ in functionality and are difficult to substitute in formulations.
Competitive rivalry: High due to presence of global players. Companies competitively differentiate through innovation, quality, and client relationships.
Key Takeaways
The global Nutraceutical Excipient Market growth is expected to witness high exhibiting CAGR of 10% over the forecast period, due to increasing demand for dietary supplements and functional foods. The market size for Nutraceutical Excipient was valued at US$ 2,680.29 Mn in 2023.
Regional analysis: North America dominates the global market due to rising health concerns and busy lifestyle leading to more consumption of nutraceuticals in the region. Asia Pacific is expected to be the fastest growing market owing to increasing disposable income, growing middle class population and their willingness to spend on health and wellness.
Key players: Key players operating in the Nutraceutical Excipient market are DuPont de Nemours, Inc., Roquette Frères, Ashland Global Holdings Inc., and Innophos Holdings, Inc. These players are focusing on new product launches, expansion of regional presence and mergers and acquisitions to gain more market share
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
