Nutraceutical Excipients Market by Product Source (Organic Chemicals, Inorganic Chemicals), Functionality (Binders, Colorants, Flavors & Sweeteners), End Product, Formulation, Functionality Application and Region - Global Forecast to 2028
[391 Pages Report] According to MarketsandMarkets, the nutraceutical excipients market is projected to reach USD 6.1 billion by 2028 from USD 4.2 billion by 2023, at a CAGR of 7.7% during the forecast period in terms of value. Increased focus on preventive care and consumption of supplements has led to a rising demand for nutraceutical excipients. Innovations in processing technologies are leading to the creation of excipients with improved characteristics. Techniques such as spray drying, freeze-drying, and granulation are enabling the production of excipients with better flowability, compressibility, and consistency.
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Market Dynamics
Driver:Advancements in nanotechnology have brought forth a myriad of innovative features that are poised to significantly propel the growth of the nutraceutical excipients market
Advancements in nanotechnology have introduced a multitude of innovative features poised to drive substantial growth within the nutraceutical excipients market. Operating at the nanoscale level, nanotechnology offers distinct and advantageous functionalities for the development of excipients in the nutraceutical industry. Nano-sized excipients play a pivotal role in enhancing the solubility and bioavailability of active ingredients, facilitating superior absorption and utilization of nutrients in the body, thereby amplifying the effectiveness of nutraceutical products. Moreover, excipients at the nanoscale offer increased stability for delicate nutrients, safeguarding them from degradation and extending the shelf life of nutraceuticals, ensuring their efficacy over prolonged periods. Additionally, nanotechnology enables the creation of targeted delivery systems, allowing precise and specific delivery of nutrients to targeted body tissues or cells, thereby optimizing the efficacy of nutraceuticals while minimizing potential adverse effects.
Restraint :Financial hurdles in nutraceutical excipient innovation
Progressing in the nutraceutical industry mandates crucial R&D investments for pioneering excipient innovations. However, achieving lucrative returns on these investments might diminish owing to challenges in securing patents or contending with formidable competition from existing products, potentially reducing profitability. Nutraceutical excipients, akin to pharmaceuticals, necessitate comprehensive clinical trials to establish safety, efficacy, and compliance with regulatory norms. These trials encompass significant expenses, influencing the overall cost structure of bringing a product to market. Moreover, the intricate and protracted nature of these trials can further escalate expenses. Despite considerable R&D and clinical trial investments, product success remains uncertain. Safety concerns, efficacy issues, or lack of market acceptance can lead to substantial financial losses for companies.
The substantial costs linked to clinical trials, in tandem with regulatory intricacies, pose entry barriers for new entrants in the nutraceutical excipients market. This impedes the introduction of innovative excipients, restraining market expansion.
Opportunity : Emerging trend of high use of excipients with multifunctional properties among key players
The utilization of excipients possessing multifunctional properties presents a significant opportunity in the nutraceutical industry. By consolidating numerous functionalities within a single ingredient, these excipients streamline the formulation process, boosting operational efficiency, and reducing the complexity of formulations. This consolidation not only decreases the number of required excipients but also curtails production costs. Moreover, their diverse capabilities, ranging from enhancing stability and solubility to controlling release and masking unwanted tastes or odors, enable the creation of top-tier nutraceutical products with optimized performance. Furthermore, the multifaceted benefits offered by these excipients align with sustainability goals, reducing waste and energy consumption while supporting clean label trends by enabling formulations with fewer, often natural, ingredients. Overall, the adoption of multifunctional excipients represents a strategic avenue for industry players to enhance efficiency, bolster product quality, foster innovation, and cater to evolving consumer preferences, thereby presenting a considerable opportunity for advancement and growth within the nutraceutical excipients market.
Challenge: Protecting intellectual property in nutraceutical excipient development can be a challenge
The fiercely competitive environment within the nutraceutical excipients market presents difficulties in preserving exclusivity. Rival companies often endeavor to create analogous excipients or find ways to bypass existing patents, resulting in potential disputes or violations. Crafting excipients with distinct functionalities or precise delivery mechanisms necessitates inventive strategies. However, formulating patents to encompass these innovations in a manner that safeguards them against replication while complying with patent laws can be intricate. Additionally, the duration of patents is finite, and the arduous and costly processes required to sustain their validity pose challenges. Once patents expire, excipient formulations become vulnerable to competition from generic or akin products.
Nutraceutical Excipients Market Ecosystem
Key players within this market consist of reputable and financially robust nutraceutical excipient manufacturers. These entities boast extensive industry tenure, offering diversified product portfolios, cutting-edge technologies, and robust global sales and marketing networks. Prominent companies in this market include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany).
Taste masking excipients act as catalysts for consumer-friendly nutraceuticals.
Nutraceutical products often contain active ingredients with disagreeable tastes or odors. Taste masking excipients serve as pivotal components in elevating palatability, making these items more appealing and user-friendly, particularly for individuals sensitive to specific flavors. The increasing demand for nutraceutical supplements and functional foods in daily health routines has led to the adoption of taste-masking excipients. These aids enhance product likeability, encouraging consistent usage and adherence to prescribed dosages. Taste-related difficulties frequently affect nutritional supplements intended for children and the elderly. Taste masking excipients facilitate customized formulations tailored to these groups, ensuring improved adherence and consumption rates.
In a competitive market landscape, companies aim to distinguish their offerings. Utilizing taste masking excipients allows manufacturers to set themselves apart by delivering superior-tasting options, differentiating their products from competitors.
The Fillers & Diluents segment is expected to hold the second largest market share in the functionality segment of nutraceutical excipients market.
Fillers & diluents are integral for providing bulk to formulations and ensuring consistent dosages. Their primary role involves creating uniform tablet sizes, facilitating streamlined manufacturing processes, and ensuring even distribution of nutrients. Certain fillers & diluents are specially designed to aid in tablet or capsule disintegration and dissolution, ensuring efficient breakdown in the digestive system for optimal nutrient absorption. They also improve the flow characteristics of formulations, binding ingredients, reducing powder segregation, and enhancing compaction properties during production. Consequently, the fillers & diluents segment is anticipated to play a significant role in the functionality segment of nutraceutical excipients.
North America to dominate the nutraceutical excipients market during the forecast period.
North America is expected to dominate the nutraceutical excipients market during the forecast period from 2023 to 2028 due to several factors. North America's mature nutraceutical market, complemented by its robust pharmaceutical and nutraceutical industries, forms a strong platform for excipient innovation. Renowned for pioneering advancements, the region continually invests in R&D, crafting cutting-edge excipients with superior functionality, improved bioavailability, and precise nutrient delivery. This ongoing commitment to innovation positions North America at the forefront, alluring global industry players. The region boasts a well-established retail infrastructure, offering easy access to nutraceuticals through diverse distribution channels like online platforms, specialty outlets, and conventional supermarkets, fostering nutraceutical excipients market expansion.
Key Market Players
The key players in this include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.
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Report Metric |
Details |
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Market size estimation |
2023–2028 |
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Base year considered |
2022 |
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Forecast period considered |
2023–2028 |
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Units considered |
Value (USD) |
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Segments Covered |
By Functionality, Product Source, Formulation, Functionality Application, End Product, and Region |
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Regions covered |
North America, Europe, South America, Asia Pacific, and RoW |
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Companies studied |
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This research report categorizes the nutraceutical excipients market, based on functionality, product source, functionality application, end product, formulation, and region.
Target Audience
- Nutraceutical excipient traders, retailers, and distributors
- Nutraceutical excipient manufacturers & suppliers
- Related government authorities, commercial research & development (R&D) institutions, FDA, EFSA, USDA government agencies & NGOs, and other regulatory bodies
- Regulatory bodies, including government agencies and NGOs.
- Commercial research & development (R&D) institutions and financial institutions
- Government and research organizations
- Venture capitalists and investors
- Technology providers to nutraceutical excipients and nutraceutical excipients companies
- Associations and industry bodies
Nutraceutical Excipients Market:
By Product Source
- Organic Chemicals
- Inorganic Chemicals
- Other Chemicals
By Functionality
- Fillers & Diluents
- Suspending & Viscosity Agents
- Coating Agents
- Binders
- Flavoring Agents & Sweeteners
- Disintegrants
- Colorants
- Lubricants & Glidants
- Preservatives
- Emulsifying Agents
- Other Functionalities
By Formulation
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Dry
- Tablets
- Capsules
- Liquid
- Other Formulations
By Functionality Application
- Taste Masking
- Stabilizers
- Modified-Release
- Solubility & Bioavailability
- Others
By End Product
- Protein & Amino Acids
- Omega-3 Fatty Acids
- Vitamins
- Minerals
- Prebiotics
- Probiotics
- Other End Products
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Rest of the World (RoW)
Recent Developments
- In September 2022, Roquette, renowned for its expertise in plant-based ingredients and its prominent position as a supplier of pharmaceutical and nutraceutical excipients, finalized the acquisition of Crest Cellulose, an excipient manufacturer based in India. Building upon its prior acquisition of a majority stake in 2018, this recent development underscores Roquette's commitment to advancing its robust expansion goals and addressing the increasing worldwide need for top-tier plant-based excipients. This strategic move aligns with Roquette's endeavors to meet the escalating global demand for high-quality excipients derived from plant sources.
- In February 2021, IFF finalized the merger with DuPont's Nutrition & Biosciences (N&B) division, creating a dominant force in the global ingredients and solutions sector. This amalgamation establishes a leader serving consumer-focused markets such as food & beverage, home & personal care, and health & wellness. Additionally, IFF now offers excipients obtained through the acquisition of DuPont's Nutrition & Biosciences business.
Frequently Asked Questions (FAQ):
Which are the major companies in the nutraceutical excipients market? What are their major strategies to strengthen their market presence?
The key players in this include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
What are the drivers and opportunities for the nutraceutical excipients market?
The preference for clean label items featuring natural and plant-based elements fuels the creation of natural excipients, meeting the demand for sustainable and pure formulations sought by consumers. Expanding into emerging economies, which display rising health consciousness and higher disposable incomes, presents an opportunity for nutraceutical excipients to meet the increasing demand for health and wellness products in these markets.
Which region is expected to hold the highest market share?
The strict adherence to regulatory standards and robust quality control measures in the region ensures the safety and effectiveness of nutraceutical products, thereby bolstering consumer confidence and trust in these items. With a well-established healthcare infrastructure and advanced pharmaceutical and nutraceutical sectors, the region promotes progress in developing and innovating excipients. Substantial healthcare expenditures and inclusive insurance coverage for a wide array of health-related supplements and products in the region contribute significantly to the heightened consumption of nutraceuticals. This substantial financial backing facilitates greater accessibility to these beneficial products.
Which are the key technology trends prevailing in the nutraceutical excipients market?
Manufacturers are increasingly embracing natural and plant-based excipients to align with consumer preferences for clean label products, focusing on sustainability and compatibility with organic formulations. Another emerging trend involves the use of Augmented Reality (AR) and Virtual Reality (VR) applications, where AR enables interactive learning about nutraceuticals and their excipients, while VR creates simulated experiences of active ingredient journeys within the body. These technologies aim to elevate consumer engagement and education, offering immersive experiences that elucidate the benefits of nutraceuticals.
What is the total CAGR expected to be recorded for the nutraceutical excipients market during 2023-2028?
The CAGR is expected to record as of 7.7 % from 2023-2028. .
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The study involved four major activities in estimating the current size of the nutraceutical excipients market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the nutraceutical excipients market.
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles from recognized authors, gold & silver standard websites, directories, and databases, were referred to identify and collect information. This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the nutraceutical excipients market.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the nutraceutical excipients market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, research, and development teams, and related key executives from distributors, and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to functionality, end products, product source, formulation, functionality application, and region.
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the nutraceutical excipients market. These approaches were also used extensively to estimate the size of various dependent submarkets. The research methodology used to estimate the market size includes the following:
- Key players were identified through extensive secondary research.
- The industry’s value chain and market size were determined through primary and secondary research.
- All percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.
- All the possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The parent market—the crop protection market—was considered further to validate the details of the nutraceutical excipients market.
- The following figure provides an illustrative representation of the complete market size estimation process implemented in this research study for an overall estimation of the nutraceutical excipients market in a consolidated format.
The following sections (bottom-up & top-down) depict the overall market size estimation process employed for the purpose of this study.
Global Nutraceutical Excipients Market: Bottom-Up Approach
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Global Nutraceutical Excipients Market: Top-Down Approach
With the data triangulation procedure done both through the bottom-up approach (demand side, by functionality segment) and top-down approach (supply side, by competitor sales revenues), and validation of data through primaries, the overall size of the parent market size and size of each market were determined.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall nutraceutical excipients market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Nutraceutical excipients are non-active nutraceutical ingredients that are included in the production of nutraceutical formulations. Excipients are also used to enhance the therapeutic effects of active ingredients in the final dose. Nutraceutical active ingredients are biologically functional molecules or components, which affect the nutritional uptake, balance, and health of a human body, and that mostly aim to supplement the nutritional profile provided by staple foods. Moreover, excipients are essential for the timely and precise delivery of nutraceutical components. In addition, maintaining optimum levels of active ingredients in nutraceutical products, such as vitamins and minerals, is a key function of excipients.
Key Stakeholders
- Raw material supplier
- Commercial Research and Development Institutions
- Manufacturers, dealers, and suppliers in the nutraceutical excipients market
- Government bodies
- Food & beverage manufacturers
- Nutraceutical manufacturers
- Cosmetic & skincare product manufacturers
- Food importers and exporters
- Associations and NGOs
- Logistics providers & transporters
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Regulatory bodies & institutions
- US Food and Drug Administration (US FDA)
- European Food Safety Authority (EFSA)
- Food Safety and Standards Authority of India (FSSAI)
- Food Safety Law of the People’s Republic of China
- Food Safety Commission of Japan
Report Objectives
Market Intelligence
- Determining and projecting the size of the nutraceutical excipients market, based on product source, formulation, functionality, functionality application, end product and regional markets, over a five-year period, ranging from 2023 to 2028.
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
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Analyzing the demand-side factors based on the following:
- Impact of macro- and microeconomic factors on the market
- Shift in demand patterns across different subsegments and regions
Competitive Intelligence
- Identifying and profiling the key market players in the nutraceutical excipients market
- Determining the share of key players operating in the nutraceutical excipients market
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Providing a comparative analysis of the market leaders on the basis of the following:
- Product offerings
- Business strategies
- Strengths, weaknesses, opportunities, and threats
- Key financials
- Understanding the competitive landscape and identifying major growth strategies adopted by the key companies.
- Analyzing the patents registered and regulatory frameworks across the regions and their impact on prominent market players.
- Analyzing the market dynamics and competitive situations & trends across the regions and their impact on prominent market players
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
The following customization options are available for the report:
Product Analysis
- Product Matrix, which gives a detailed comparison of the product portfolio of each company.
Geographic Analysis
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
- Further breakdown of the Rest of Europe into Netherlands, Poland, and other EU & non-EU countries
- Further breakdown of the Rest of Asia Pacific into New Zealand, Thailand, and Vietnam.
- Further breakdown of the Rest of South America into Colombia, Paraguay, Peru, and other South American countries
Company Information
- Detailed analyses and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Nutraceutical Excipients Market