Nutraceutical Excipients Market Research Report – Forecast to 2023
Nutraceutical excipients are inactive substances formulated alongside the Active Pharmaceutical Ingredient (API), for bulking-up formulations that contain potent active ingredients. These excipients are used in pharmaceutical-grade and standardized dietary supplements. The robust increase in medical cost has a huge impact on the nutraceutical excipient market. The rising medical cost is a result of rising adoption of new technologies and treatments, overuse of procedures and tests, and lack of transparency and information on prices and quality of medical services that are provided. For instance, in 2016, the US health care spending increased by 4.3%, reaching USD 3.3 trillion and USD 10,348 per person.
The growth of the nutraceutical excipients market is attributed to the growing demand for nutraceutical products and rising healthcare cost. Nutraceutical is a fortified food product that plays a significant role in modifying and maintaining normal biological functions of the human body. Various types of nutraceutical products present in the market are dietary supplements, prebiotics, probiotics, antioxidants, and others. According to a study published in the International Journal of Preventive Medicine in 2014, nutraceuticals in the form of vitamins, antioxidants, dietary fibers, minerals, and n?3 PUFAs in amalgamation with physical exercises were reported to prevent and treat Cardiovascular Diseases (CVD). Such growth in the nutraceutical industry is estimated to lead to a parallel growth of the nutraceutical excipients market. Moreover, rising healthcare cost and increasing demand for nutraceutical products are driving the growth of the market. However, stringent regulations are likely to hamper the growth of the market.
The global nutraceutical excipients market is segmented on the basis of function, type, form, application, and region.
On the basis of function, the global nutraceutical excipients market is segmented into fillers, diluents, and bulking agents, binders, disintegrants, sweeteners, coating agents, lubricants, and colors and flavors. On the basis of form, the market is segmented into dry and liquid. The market by application is segmented into probiotics and prebiotics, proteins and amino acids, omega-3 fatty acids, and vitamins and minerals. On the basis of type, the market is majorly segmented into artificial and natural/organic.
The global nutraceutical excipients market accounted for USD 3,104.96 million in 2017 and is expected to grow at a CAGR of 7.60% over the forecast period.
Cargill Corporation (US), Ingredion Incorporated (US), Associated British Foods plc (UK), Kerry Group (Republic of Ireland), Roquette Freres SA (France), JRS PHARMA (Germany), Innophos, Inc. (US), DowDuPont, Inc. (US), Sensient Technology Corporation(US), and Hilmar Ingredients (US), and others.
• To provide a detailed analysis of the market structure along with a forecast of various segments and sub-segments of the global nutraceutical excipient market
• To provide insights into factors influencing and affecting the market growth
• To provide historical, current, and forecast revenue of market segments based on function, form, application, and type, for the global nutraceutical excipient market
• To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and their countries
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• To provide economic factors, technology trends, and market trends that influence the global nutraceutical excipient market
• Medical Devices Companies
• Research and Development (R&D) Companies
• Government Research Institutes
• Academic Institutes and Universities
• The global nutraceutical excipients market is expected to reach USD 4,818.70 million by 2023 at a CAGR of 7.60% from 2017 to 2023
• On the basis of function, the fillers, diluents, and bulking agent segment is expected to command the largest market share of 45.7% over the review period and is also expected to register the fastest CAGR of 8.34% during the forecast period, 2017 to 2023
• On the basis of form, the dry segment is expected to command the largest market share of 55.4% over the review period, and the liquid segment is expected to grow at the fastest CAGR of 7.92% during the forecast period, 2017 to 2023
• On the basis of application, the probiotics and prebiotics segment is expected to command the largest market share of 47.5% over the review period, and vitamins and minerals are expected to grow at the fastest CAGR of 7.92% during the forecast period, 2017 to 2023
• The Americas hold the largest share of the global nutraceutical excipients market which is expected to reach USD 1792.03 million by 2023
• Asia-Pacific is the fastest growing market, which is expected to register a CAGR of 8.17% from 2017 to 2023
o North America
o South America
o Western Europe
? Rest of the Western Europe
o Eastern Europe
o Republic of Korea
o Rest of Asia-Pacific
• Middle East & Africa
o Middle East