Nutraceutical Excipient Market Enhancement in Medical Sector 2018 to 2026
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Nutraceuticals are dietary supplements that assist in the treatment and prevention of diseases and enhance the performance of pharmaceutical and food products. Various food structures and their compositions are formed by using nutraceutical excipients that enhance the bioavailability of nutraceuticals containing therapeutic products. The major scope for this market is in food industry. Increasing investment of domestic manufactures is expected to boost growth of the market for nutraceutical excipients.
Asia Pacific is expected to hold dominant position in the global market for nutraceutical excipients, owing to growing pharmaceutical manufacturing. According to The Economist Intelligence Unit Report 2012, key players such as Merck & Co. and other global pharmaceutical companies are focusing on expansion in Asia Pacific to lower their production cost. This in turn is expected to boost growth of the global nutraceutical excipient market in Asia Pacific. North America is expected to account for the second largest market share in the global nutraceutical excipient market due to increasing consumption of nutraceuticals and dietary supplements in the region. According to the Council for Responsible Nutrition (CRN) Survey October 2018, around 75% adults in the U.S. consume dietary supplements and the consumption is expected to significantly increase in the near future.
Key players operating in the market include, DuPont, P&G Chemicals, Eastman Chemical Corporation, Huntsman Corporation, Kerry Group plc, ABF, Roquette Freres, Ingredion, Meggle, Hilmar Ingredients, JRS Pharma, Sensient, Innophos, Cargill, IMCD, Avantor Performance Materials, Zydus Wellness, BASF SE, Lubrizol Corporation, Colorcon Inc., Finar Limited., and Shin-Etsu Chemical Co., Ltd.
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