The global Nutraceutical Excipient Market is estimated to be valued at US$ 3.4 billion in 2020 and is expected to exhibit a CAGR of 7.3% over the forecast period 2020 to 2025, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Nutraceutical Excipient Market refers to the market for excipients that are used in the production of nutraceutical products, such as functional foods and dietary supplements. These excipients are substances that are added to the formulations of nutraceutical products to enhance their stability, bioavailability, and other key properties. They play a crucial role in ensuring the quality, safety, and effectiveness of nutraceutical products.
Market Key Trends:
One key trend in the nutraceutical excipient market is the increasing demand for functional foods and dietary supplements. With growing consumer awareness about the importance of a healthy lifestyle and preventive healthcare, there has been a significant rise in the consumption of nutraceutical products. Functional foods and dietary supplements are becoming increasingly popular as they offer various health benefits, such as improved digestion, enhanced immunity, and increased energy levels. To meet this rising demand, manufacturers are focusing on developing innovative formulations that provide targeted health benefits. This, in turn, is driving the demand for nutraceutical excipients that can enhance the efficacy and stability of these products. Key players 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-Ets
PEST Analysis:
Political: The political factors impacting the nutraceutical excipient market include regulations and policies related to the manufacturing, labelling, and marketing of nutraceutical products. Governments across the globe have implemented stringent regulations to ensure the safety and efficacy of these products.
Economic: The economic factors influencing the nutraceutical excipient market include the overall economic growth, consumer spending power, and disposable income. As the global economy continues to grow, the demand for nutraceutical products is expected to increase.
Social: The social factors affecting the nutraceutical excipient market include changing consumer preferences towards healthier lifestyles and increased awareness about the benefits of nutraceutical products. Increasing health consciousness among the population has led to a rise in the demand for functional foods and dietary supplements.
Technological: Technological advancements play a vital role in the nutraceutical excipient market. Innovations in manufacturing processes, product development, and formulation techniques have led to the production of advanced nutraceutical products with improved bioavailability and stability.
Key Takeaways:
The global nutraceutical excipient market is expected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period. This growth can be attributed to several factors, including the increasing demand for nutraceutical products, advancements in excipient technology, and a growing consumer base.
In terms of regional analysis, North America is projected to be the fastest-growing and dominating region in the nutraceutical excipient market. The region has a well-established healthcare infrastructure and a high demand for functional foods and dietary supplements. Additionally, the presence of major market players in North America further drives market growth in the region.
Key players operating in the nutraceutical excipient 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. These players are focusing on research and development activities, partnerships, and mergers and acquisitions to gain a competitive edge in the market.
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