(PharmaNewsWire.Com, March 05, 2021 ) Meticulous Research® – leading global market research company published a research report titled “Nutraceutical Excipients Market by Type (Fillers & Diluents, Coating Agents, Binders, Disintegrates), End Products (Protein & Amino acids, Vitamin, Minerals, Omega 3 fatty acids, and Others)- Global Opportunity Analysis and Industry Forecast (2018 – 2023)”.
According to this latest publication from Meticulous Research®, the global nutraceutical excipients market is expected to grow at a CAGR of 8.4% from 2018 to 2023 to reach USD 2,732.8 million by 2023, driven by growing demand for nutraceuticals and advances in nanotechnology. Moreover, development of multifunctional excipients further provides significant opportunities for the various stakeholders in this market. However, factors such as declining R & D investments for nutraceutical excipients are expected to hinder the growth of this market to some extent.
The global nutraceutical excipients market is mainly segmented by form (dry and wet), type (fillers & diluents, coating agents, binders, disintegrates, lubricants, flavoring agents, colorant & sweeteners, and others), end products (proteins & amino acids, vitamins, minerals, prebiotics & probiotics, omega 3 fatty acids, and others), and geography.
Based on form, dry form held the largest share of global nutraceutical excipients market in 2017 and is expected to dominate this market during the forecast period. They are used for the purpose of increasing bulk, enhancing flow, and improving stability of nutraceutical excipients. Excellent flow properties of dry excipients can impact not only the compounding procedure, but also the uniformity and quality of the final product. This is the major factor responsible for the large use of dry excipients in the preparation of the nutraceutical supplements.
Based on type, filler and diluents accounted for the major share of the global nutraceutical excipients market in 2017. The large share of this segment is mainly attributed to their increasing use in nutraceutical products due to their low cost and properties of being inert, compatible with the other components of the formulation, non-hygroscopic, compactible, and preferably tasteless or pleasant tasting.
Based on end products, proteins and amino acids commanded the largest share of the global nutraceutical excipients market in 2017. The increased demand for protein consumption is driving the demand for protein supplements across the globe. Also, the increasing concerns of consumers over healthcare and the rising fitness centers, health clubs, and gymnasiums across the world are the main factors behind the significant growth of protein supplements which fuels the use of nutraceutical excipients in protein and amino acids supplements. However, omega 3 fatty acids are expected to witness significant growth during the forecast period.
Geographically, this market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia Pacific (Japan, China, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global nutraceutical excipients market in 2017, followed by Asia-Pacific, and Europe. The large share of this region is mainly attributed to increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, respiratory diseases; sedentary lifestyle; rising public healthcare cost; growing public awareness of the link between diet and health; and growing aging population. However, Asia Pacific region is expected to witness significant growth during the forecast period due to growing aging population, rising prevalence of chronic diseases, high degree of health consciousness, growing emphasize on product safety and innovations, growing health issues related to adoption of unbalanced western diet, and growing demand of sports nutrition products & health supplements.
Key players:
The key players operating in the global nutraceutical excipients market are Kerry Group plc (U.S.), Innophos Holdings, Inc. (U.S.), Sensient Colors LLC (U.S.), JRS PHARMA (Germany), Cargill, Incorporated (U.S.), Hilmar Ingredients. (U.S.), E. I. du Pont de Nemours and Company (U.S.), Ingredion Incorporated (U.S.), Roquette Freres SA (France), MEGGLE Group Wasserburg (Germany), and ABF Ingredients (U.K.)
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