December 04, 2020
According to a recent research report titled ‘Global Nutraceutical Excipients Market Size study, by Functionality (Binders, Fillers & Diluents, Coating Agents, Flavoring Agents, Lubricants), End- Product (Prebiotics, Probiotics, Proteins & Amino Acids, Vitamins, Omega-3 fatty acids, Minerals, Others), Form (Dry and Liquid) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global nutraceutical excipients market was valued USD 3.21 billion in 2019 and is expected to record a healthy growth rate of 7% over 2020-2027.
Increasing health-conscious population owing to growing prevalence of lifestyle diseases acts as major growth propellent for global nutraceutical excipients market. Moreover, booming geriatric population who are more vulnerable to chronic disorders, and growing inclination towards preventive healthcare to mitigate the negative health effects of fast-paced lifestyle are further accelerating the industry expansion. Further, advancements in nanotechnology are expected to present new growth opportunities in the upcoming years, cites the study.
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For those unfamiliar, nutraceutical is the amalgamation of nutrition and pharmaceutical, which plays a vital role in altering and upholding physiological functions of humans. Whereas, excipients are inert pharmaceutical ingredients used in manufacturing of protein-based or acid-based nutraceutical products.
Despite the positive outlook of global nutraceutical excipients industry, decline in returns on R&D investments, along with high costs of clinical trials and registration will negatively impact the business landscape during the forecast period.
Considering the regional outlook, North America holds a prolific position in global nutraceutical excipients industry, attributable to the busy lifestyle of populace, consequent rise in chronic diseases, and growing cognizance pertaining to the health benefits of food supplements and nutritional foods.
Meanwhile, Asia Pacific nutraceutical excipients market is expected grow tremendously during 2020-2027. In 2016, the United Nations Economics and Social Commissions for Asia and Pacific reported that the aging population in APAC is estimated to rise from the current 53% to 59% by 2050, indicating a rise in the number of chronic diseases in the upcoming years which will ultimately bolster the nutraceutical products. In addition, rapid increase of middle-class population, and rising consumer awareness about health & fitness are the other factors contributing to the regional market growth.
Key players influencing global nutraceutical excipients market trends are Seppic, Ashland Global Holdings, Inc., Cargill, Inc., MEGGLE Group, Roquette Frères, Associated British Foods plc, Sensient Technologies Corp., and BASF SE.