Nutraceutical Excipients Market Touched USD 2,100 million in 2020, which is estimated to increase 8.4% CAGR during 2021-2028 | Size, Share & Report Forecast

Nutraceutical Excipients Market

The Nutraceutical Excipients Market was calculated around USD 2,100 million in 2020 and is expected to expand at a CAGR of 8.4% over the forecast period (2021-2028).

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The factors driving the growth of Nutraceutical Excipients Market includes growing demand for probiotic products and dietary supplements, rising consumers inclination towards adopting healthy lifestyles and growing prevalence of different type of cancer, diabetes, and respiratory illness around the world. According to the report published by World Health Organization (WHO), diabetes emerged as the major cause of blindness, stroke, and kidney failure, a 5% increase in premature mortality was observed between 2000-2016 due to diabetes, which is pushing the demand for dietary supplements across the globe. Moreover, rise in Government's expenditure on the healthcare sector, advancements in nanotechnology, rise in the use of excipients with multifunctional properties, increasing investments by leasing players on research and development, expansion of the e-commerce industry and rapid urbanization, are some of the additional factors supplementing the Nutraceutical Excipients Market size. As per the Economic Survey, the Government of India has increased its spending on the Healthcare sector from INR 2.73 lakh crore in 2019-20 to INR 4.72 lakh crore in 2021-22, which will accelerate the market growth in the approaching years.

However, the growth of Nutraceutical Excipients Market is hindered due to high investments required for developing cold storage facility.

The leading players operating in the Nutraceutical Excipients Market are Meggle, Innophos, JRS Pharma, Cargill, Roquette Frères, Kerry, Abf, Hilmar Ingredients., IMCD, Ingredion, Dupont, Sensient and Linde, among others.

Based on Functionality, the Flavouring agents segment is predicted to capture the largest market share during the forecast period

Rapid growth in the Nutraceutical industry and rise in the number of nutraceuticals-based start-ups, are propelling the segment's growth.

Based on Product, the Vitamins segment is projected to hold the highest market share over the forecast period

Growing demand for immunity building products across the globe and rising awareness amongst consumers about the benefits of vitamins-based supplements, are some of the factors responsible for the segment's growth.

Based on Region, the North American region is anticipated to lead the market during the forecast period

Growing demand for dietary supplements, rising prevalence of cardiovascular diseases, increase in Government's spending on healthcare sector and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Developments

In 2019, Innophos introdcued multifunctional, Co-Processed Excipient A-Tab MD at CPhI Worldwide 2019which will enhance the manufacturing efficiencies for Pharmaceutical and Nutraceutical Tablet and Capsule Formulations.
In 2020, Primo Nutraceuticals Inc. has introduced a new product website, which will support the brand awareness initiative in the natural health & wellness market.

Market Segmentation

Segmentation by Functionality

Flavouring agents
Lubricants
Disintegrates
Coating agents
Binders
Fillers and Diluents

Segmentation by Product

Prebiotics and Probiotics
Minerals
Vitamins
Omega-3 Fatty Acids

Segmentation by Form

Dry
Liquid

Nutraceutical Excipients Market by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.