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.
The Global Nutraceutical Excipients – Market Dynamics
Nutraceutical excipients have improved functionalities that improve manufacturing processes of pharmaceutical dosage forms. Such benefits of nutraceutical excipients are expected to boost growth of the market. Moreover, increasing geriatric population in economies such as India and China is expected to boost growth of the market. According to the Central Intelligence Agency’s report in July 2018, the percentage of geriatric population in India and China is expected to 13.69% and 21.56%, respectively by 2022. Sedentary lifestyle increases risk of chronic diseases such as obesity, which in turn boosts the uptake of nutraceuticals and thereby drives the market growth. According to World Health Organization’s (WHO) 2002 report, around 60% - 80% people worldwide lead a sedentary lifestyle.
The Global Nutraceutical Excipients Market – Regional insights
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. Therefore, these factors and scenarios are expected to boost growth of the global nutraceutical excipient market over the forecast period.
The Global Nutraceutical Excipients Market– Competitive landscape
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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Key players in the market are focused on developing new products to enhance their market share. For instance, in March 2018, JRS PHARMA introduced PROSOLV SMCC (Silicified Microcrystalline Cellulose) in Japan.
Global Nutraceutical Excipients Market –Taxonomy
On the basis of functionality, the global nutraceutical excipients market is segmented into:
- Fillers & Diluents
- Coating Agents
- Flavoring Agents
On the basis of form, the global nutraceutical excipients market is segmented into:
On the basis of end product, the global nutraceutical excipients market is segmented into:
- Proteins & Amino Acids
- Omega-3 Fatty Acids
On the basis of region, the global nutraceutical excipients market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East
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