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Global Nutraceutical Excipients Market Size, Trends, and Analysis - Forecasts To 2026 By Form (Liquid, Dry), By Functionality (Binders, Disintegrants, Flavoring Agents, Coating Agents, Fillers & Diluents, Lubricants, Other Functionalities), By End-Product (Protein & Amino Acids, Vitamins, Probiotics, Omega-3 fatty acids, Minerals, Probiotics, Other End Products), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The term 'nutraceutical' is derived from nutritional and pharmaceutical products, often referred to as functional foods. They are widely used as a nutritional substitute. They also offer chronic disease protection and are very useful for issues with the spine and joints. Nutraceutical substances are also used for fish oil, undenatured type II collagen, olive oil, methionine, and many other botanical products. The growing advancement in nanotechnology and increasing wide range of applications in the dietary supplements and food & beverage industry in the coming years. The growth of this market is likely to be supported by the production of multifunctional excipients to accomplish the mixed advantage of bulk receivers. Furthermore, the growing customer awareness of nutraceutical prevention and disease prevention is projected to boost the market of the global market for nutraceutical excipients.
The dry segment accounted for the largest market share in 2019. Increased demand for dry beverage mixes with adequate nutrients, especially customer preferences for fortified beverages and personalized mixes, is attributable to the growth of the dry market segment. The prominence of the dry form in different applications can be attributable to its significant cost and ease.
In 2019, the binder’s category is estimated to hold the largest share of the market. The producers of food supplements are gradually using the binder because these excipients are produced as an adhesive to bind granules, powders, and other dry substances together to give the required mechanical power. Due to various factors such as flexibility and critical importance in gaining product performance, binders gain momentum and witness a rise in utilization as an excipient in the nutraceutical sector.
In terms of sales growth, the probiotics segment is expected to account for the largest market share in 2020. Yeast and good bacteria are probiotics that benefit consumers by improving digestion and digestive health, increasing nutrient absorption, improving immunity, and minimizing the chances of food allergies. There are various types of probiotic products available, including yogurt and beverages, and supplement forms, like tablets or capsules.
In terms of revenues for the coming years, the North American region maintains the leading market position. Factors that contributed to market growth include the occurrence of severe illnesses induced by busy schedules, the hectic schedule of customers, and consumer awareness of the health benefits of nutritious foods, which have driven the region's demand for functional food products. Furthermore, over the coming years, the Asia-Pacific region will exhibit a strong CAGR. It is due to the growing rising customer awareness related to health & fitness, and increasing buy power is one of the important factors driving demand growth. Moreover, due to the globalization of foreign direct investment in the food industry, the region is attracting developers to set up manufacturing plants is the main driver driving the regional market growth.
DuPont, Ingredion Inc, Associated British Foods (ABF) PLC, Roquette Freres, Cargill Incorporated, Kerry Group PLC, Sensient Technologies Corporation, BASF SE, Meggle Group Wasserburg, Innophos Holdings Inc, Biogrund GmbH, Azelis Chemical Ltd, IMCD, and Ashland Global Holdings Inc among others are the primary producers competing in the market.
In March 2020, Azelis Chemical Ltd. entered into an agreement with CosBond, a distributor of specialty chemicals and food ingredients
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The Global Nutraceutical Excipients Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Nutraceutical Excipients Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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