Nutraceutical Excipients Market

Nutraceutical Excipients Market: Snapshot

The rising incidences of chronic diseases and other cardiovascular disorders are increasing rampantly across the globe. Almost more than half of the global populace depends on supplements, drugs, or other types of medicines to get relief from the disease or disorder they are suffering. The development of medicines, drugs, or supplements for curing even the slightest malfunction in the body is available. Nutraceutical excipients are important in the pharmaceutical industry owing to their increasing demand for the formulation of nutritional supplements. Considering all these factors, the global nutraceutical excipients market may gain substantial growth during the forecast period of 2021-2031.

A considerable rise in the geriatric population and the escalating rate of patients diagnosed with diabetes and cancer are increasing the demand for nutraceutical excipients. Thus, this aspect may bring exceptional growth opportunities for the nutraceutical excipients market.

Nutraceutical Excipients Market: Competitive Insights

The players in the nutraceutical excipients market invest heavily in research and development activities as they form the crux of growth. Regulatory approvals also form an important part of the revenue-generation mechanism. A prominent trend among pharmaceutical to develop dietary supplements that contain fibers, vitamins, and antioxidants to boost the health of individuals has opened new growth avenues for the nutraceutical excipients. The novel product launches have created awareness about the health benefits provided by nutraceutical excipients in controlling cardiovascular and chronic diseases to a great extent. Thus, the players are focusing on marketing and advertising campaigns to maintain their market position.

Some prominent players in the nutraceutical excipients market are BASF SE, Cargill Incorporated, SPI Pharma Inc., JRS Pharma LP, Galenova Inc, Hilmar Ingredients Inc., Roquette Freres SA, and Kerry Group PLC.

Nutraceutical Excipients Market: Key Trends and Opportunities

There is a rise in demand for nutraceutical excipients across the globe owing to the health awareness among the global populace. The increase in healthcare costs has created multiple growth opportunities for the nutraceutical excipients market. Furthermore, the popularity of nutraceutical products among consumers has driven the market.

The availability of nutraceutical excipients in different types such as flavoring agents, lubricants, disintegrates, binders, fillers, and diluents may prove to be growth propellers for the nutraceutical excipients market.

The nutraceutical excipients are available in liquid and dry forms. The end products available in the market in form of probiotics, protein powder, multivitamin tablets, and omega-3 fish oil supplements provide vital nutritional benefits to the consumers.

The rising disposable income of the urban crowd has led to increase in spending on health-promoting products which may ultimately promote exponential growth in the nutraceutical excipients market.

A sudden surge is being observed in the nutraceutical excipients market due to the advent of the novel coronavirus pandemic. Manufacturers are now involved in producing drugs and supplements that cater to bringing relief to COVID-19 patients and increasing their immunity levels.

Quick approvals are being given to companies for producing drugs and tablets that help in relieving the symptoms of COVID-19. Such developments bring efficient growth prospects for the nutraceutical excipients market.

Many manufacturing companies are increasing their production capacities to produce supplements extensively and cater to the ubiquitous demand when they will be released to the public. However, due to the COVID-19 manufacturing process, non-COVID drugs and medicines are being neglected and can prove as a restraint for the nutraceutical excipients market.

Nutraceutical Excipients Market: Regional Prospects

North America is anticipated to show significant market growth owing to the increasing demand for dietary supplements across this region. The rising focus on health and nutrition has encouraged new product launches in this region which eventually may contribute to the growth of the global nutraceutical excipients market. Asia Pacific may also show a good growth trajectory owing to the rise in lifestyle-related diseases in this region.