Market Synopsis

According to Market Research Future (MRFR), the global nutraceutical excipients market is anticipated to thrive pervasively. The market is anticipated to expand at a notable CAGR and hold a market value of USD 4818.70 million by 2023. Nutraceutical excipients are in tremendous demand, which augments the global market.

The progressive economy is recognized as the most remarkable factor driving the global nutraceutical excipients market 2020. The improved economy has raised the lifestyle and developed the healthcare infrastructure considerably. Further, the spread of knowledge with respect to the benefits of nutraceuticals is estimated to intensify the global market additionally. The rising disposable income and the widening geriatric population is anticipated to play a vital role in accelerating the demand. Furthermore, the growing incidence of diseases such as diabetes, blood pressure, cardiac arrest, and consumption of insufficient nutrition is predicted to magnify the global market size substantially. Besides, the amplification of the wellness industry is another crucial factor in impelling the market growth.

On the contrary, protecting the nutrient value of the nutraceuticals is a major factor of concern, which is predicted to hamper market growth. Further, the associated high expenses are likely to restrict the market growth in the forthcoming period. In addition, the disruption of COVID-19 is estimated to cast a negative impact on the market due to the suspension of the daily operations. However, growth is predicted to exhibit an upward trajectory by the end of 2020. Also, the growing sales of nutraceutical, along with the other aforementioned factors, are expected to combat the hampering elements.

Market Segmentation

The segment analysis of the global nutraceutical excipients market is based on functions, types, and applications.

The functions-based segments of the global nutraceutical excipients market are fillers, diluents & bulking agents, binders, disintegrants, sweeteners, coating agents, lubricants, and colors & flavors.

The type-based segments of the global nutraceutical excipients market are artificial and natural/organic.

The applications-based segments of the global nutraceutical excipients market are Probiotics & Prebiotics, Proteins & Amino Acids, Omega-3 Fatty Acids, and Vitamins & Minerals.

Regional Analysis

Based on geography, the global nutraceutical excipients market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. Pursuant to MRFR, the global market is estimated to be commanded by North America. The rising incidence of respiratory and chronic diseases is known to be one of the most significant factors escalating the demand in the regional market. Further, the prevailing sedentary lifestyle in the region is another vital factor in developing the regional market.

Europe holds the second rank. The rising healthcare expenditure in the region is estimated to be the most significant factor in developing the European market. Further, the robust presence of renowned players is anticipated to drive the market additionally. Besides, the rising economy is likely to play an essential role in growing the market.

On the other hand, the APAC region is estimated to be the fastest-growing market on account of the procurement of substantial market share at a global front. The growing geriatric population, increasing incidence of chronic ailments, rising demand for sports nutrition & health supplements are some of the notable factors influencing the market positively. Further, economically developing countries like India and China are anticipated to strengthen the market further.

The MEA region is likely to acquire the least share. However, the increasing concern towards health is estimated to fuel the regional market during the forecast period.

Key Players

The renowned players of the global nutraceutical excipients market are DowDupont, Sensient Technology Corporation, Ingredion, Cargill Corporation, Associated British Foods plc., Roquette Freres SA, Kerry, JRS PHARMA, Innophos, Inc., and Hilmar Ingredients among others.