ESOMAR-certified consulting firm Future Market Insights has forecast the global nutraceutical excipients market to surpass a valuation of US$ 2186.2 Mn in 2021. Rising prevalence of lifestyle disorders among geriatric population and increasing adoption of dry nutraceutical excipients among manufacturers have augmented the market growth.
Increasing use in pre & probiotics, omega 3 fatty acids, and ease in regulatory approval by international organizations such as the U.S. Food & Drug Administration are the key factors driving growth in the market.
The rising demand for dietary supplements and increasing cases of cardiovascular diseases across the U.S., Germany, Japan and the UK have boosted the adoption of dietary and nutritional food supplements.
Increasing demand for multi-functional excipients and adoption of oral solid drug formulation among key player for the manufacturing of dry nutraceutical excipients such as tablets, powder forms will continue, creating opportunities for growth.
Spurred by these factors, FMI projects nutraceutical excipients sales to surge at 7.10% CAGR during 2021 and 2031.
Key Takeaways from FMI’s Nutraceutical Excipients Market Study
- In terms of product type, binders and fillers & diluents will remain the most sought after type of nutraceutical excipients
- Dry nutraceutical excipients will account for over 3/5th of the global market demand over the forecast period
- The U.S. will emerge as the most lucrative market backed by the rising prevalence of lifestyle disease among geriatric population
- France and the U.K., collectively, will emerge as the most lucrative market across Europe in the upcoming decade
- Japan is anticipated to emerge as a lucrative market backed by the high prevalence of cardiovascular disease and osteoarthritis among geriatric population
- India is anticipated to register high demand over the forecast period owing to the rising government initiatives and high intake of dietary supplements
“Increasing research & development activities and fast-track regulatory framework have been creating opportunities for growth in the market. Overall, the focus on producing high quality nutraceutical excipients will remain top priority for the market players,” says the FMI analyst.
Leading manufacturers of nutraceutical excipients are focusing on product development to gain competitive edge. They also are investing heavily in research & development activities to develop multi-functional excipients with advanced properties to improve the product efficiency. Besides this, they are adopting a slew of expansion strategies to strengthen their footprint worldwide.
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For instance, on November 2020, IMCD, a leading global distributor of specialty chemicals and ingredients announced the acquisition of Signet Excipients Private Limited. IMCD will announce the complete acquisition of Signet by 2024 as currently it has acquired 70% of the company’s share and will acquire 30% in 2024.
In 2019, Ropack Pharma Solutions announced the dry blending services for API’s excipients as well as nutraceuticals catering to pharmaceuticals standards.
More Insights on the Global Nutraceuticals Excipients Market
In its new offering, Future Market Insights, offers incisive coverage on global nutraceutical excipients market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is classified on the basis of products type (binder, disintegrants, fillers & diluents, coating agent, flavoring agent, lubricants, and others), form (dry and liquid), and end-use (protein & amino acids, omega 3 fatty acids, vitamins, minerals, prebiotics & probiotics, and others) across major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)