PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1408627
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1408627
Scope of the Report | |
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Years Considered for the Study | 2023-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD), volume (KT) |
Segments | By Functionality, Product Source, Formulation, Functionality Application, End Product, and Region |
Regions covered | North America, South America, Europe, Asia Pacific, and RoW |
The global market for nutraceutical excipients is estimated at USD 4.2 billion in 2023 and is projected to reach USD 6.1 billion by 2028, at a CAGR of 7.7% during the forecast period. Customization of nutraceutical excipients is on the rise, meeting unique formulation needs. Companies are innovating, creating excipients suited for varied applications, enabling manufacturers to craft tailored nutraceuticals for diverse consumer requirements. Continuous advancements in excipient technologies are facilitating the development of specialized excipients, sought after for specific functionalities. The market demand focuses on excipients with enhanced solubility, improved taste-masking, controlled release, and superior absorption rates, fueling market expansion.
"The growing trend of personalization will propel the nutraceutical excipients market forward."
The nutraceutical market is witnessing a surge in the trend of personalization, wherein consumers increasingly seek tailored products aligning with their individual health needs and preferences. This growing inclination towards personalized nutraceuticals has spurred a demand for customized excipients capable of adapting to specific formulations. These tailored excipients are pivotal in allowing formulators to create versatile supplements or functional foods, offering flexibility in dosage, release mechanisms, and targeted nutrient delivery. They enable the development of products precisely tailored to address unique health concerns or align with the preferences of consumers, thereby elevating the effectiveness and attractiveness of the final product. This evolution towards personalization underscores the importance of customized health solutions in the nutraceutical industry, reflecting the desire for individualized wellness approaches among discerning consumers.
"In 2022, binders stood as the second-largest segment within the by functionality of nutraceutical excipients. "
The segment of binders in the functionality category of nutraceutical excipients emerges as the second largest due to its pivotal role in controlling the tablet's dissolution properties. This control influences how the tablet disperses and delivers active ingredients within the digestive system, directly impacting the bioavailability and efficacy of the nutraceutical product. Binders' versatile nature in formulations allows for crafting tablets with varying release profiles, be it immediate or sustained release, accommodating a diverse range of active ingredients. Additionally, binders significantly contribute to tablet stability, preventing premature disintegration or breakage, thereby ensuring the tablet's structural integrity, a critical factor influencing its shelf life and effectiveness.
"Within the functionality application segment, modified-release segment holds the most substantial share."
The leading position of modified-release excipients in the functionality application segment of the nutraceutical excipients market is attributed to their ability to intricately regulate the release of active ingredients within nutraceutical formulations. This control facilitates customized release profiles, encompassing sustained, delayed, or targeted release, thereby ensuring a controlled and consistent nutrient delivery in the body. Furthermore, these excipients optimize the bioavailability of nutrients by orchestrating a controlled and efficient release of active ingredients, ultimately enhancing the body's absorption and utilization of nutrients. Their role in facilitating a sustained and steady release of active ingredients significantly contributes to bolstering the effectiveness of nutraceuticals. This sustained delivery maintains optimal nutrient levels in the body, promoting superior health outcomes and solidifying their position as the foremost segment within the functionality application category of nutraceutical excipients.
"The nutraceutical excipients market in Europe is anticipated to maintain consistent growth throughout the forecast period."
Growing health consciousness among Europeans is driving an escalating demand for functional foods and dietary supplements offering precise health advantages. With a substantial portion of the European population aged over 50, prone to chronic ailments, there's an increased inclination towards nutraceuticals for both preventive and therapeutic purposes. Ongoing advancements in research and development efforts are resulting in the emergence of innovative excipients characterized by improved functionality, enhanced bioavailability, and targeted nutrient delivery. These advancements are amplifying the effectiveness and attractiveness of nutraceuticals to consumers. Moreover, the surge in the personalization trend within the nutraceutical market is intensifying. Consumers are actively seeking tailored products aligned with their specific needs and preferences, prompting a heightened demand for customizable excipients adaptable to distinct formulations.
By Value Chain: Manufacturers - 80%, Suppliers - 20%
By Designation: CXOs - 44%, Managers - 34%, Executives - 22%
By Region: North America - 35%, Europe - 30%, APAC - 20%, South America - 10%, RoW - 5%
The report segments the nutraceutical excipients market based on formulation, functionality, functionality application, product source, end product, and region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the nutraceutical excipients market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services; key strategies; Contracts, partnerships, and agreements. new product launches, mergers and acquisitions, and recent developments associated with the nutraceutical excipients market. Competitive analysis of upcoming startups in the nutraceutical excipients market ecosystem is covered in this report.