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Sustainable Growth Opportunities in the Nutraceutical Excipients Market

(Food-Beverage-News.Com, September 25, 2020 ) The Report " Nutraceutical Excipients Market by Functionality (Binders, Fillers & Diluents, Coating Agents, and Flavoring Agents), End Product (Prebiotics, Probiotics, Proteins & Amino Acids, and Vitamins), Form (Dry and Liquid), and Region - Global Forecast to 2025", The global nutraceutical excipients market size is estimated to account for about USD 3.4 billion in 2020 and projected to reach a value of nearly USD 4.9 billion by 2025, growing at a CAGR of 7.3% from 2020 to 2025. The market for nutraceutical excipients market has been growing in accordance with the rise in demand and consumption for nutraceuticals, around the globe. The consumption of dietary supplements in the form of tablets and capsules has been witnessing an upsurge demand in recent times, owing to the growing awareness for health benefits offered by these products that helps to support the wellbeing of the consumers. The key driving factors of the nutraceutical excipients market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused due to lack of intake of necessary nutrients as a result of imbalanced dietary lifestyles. Food fortification is one of the major trends, which is also fueling the nutraceutical excipients market in the functional food & beverage industry.

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Opportunity: High use of excipients with multifunctional properties is witnessed as an emerging trend among key players.

Multifunctional excipients are a class of excipients that include pre-processed and co-processed excipients that provide added functionalities to the formulation. For example, Silicified Micro-Crystalline Cellulose is a processed combination of MCC and colloidal silicon dioxide. These functionalities include flowability, compressibility, particle size distribution, shape, and porosity. The term multifunctional excipient is also extended to products that serve multiple roles in the formulation of dietary supplement and functional food & beverage line of products; for example, Ludipress is a co-processed product containing lactose, Kollidon, and Kollidon-CL, which serves the role of DC diluent with binder and disintegrant properties.

The demand for excipients with improved functionalities in the nutraceutical industry remains high, while also minimizing the drawbacks of incorporated excipients. According to the International Pharmaceutical Excipient Council (IPEC), a co-processed excipient is “a combination of two or more compendial or non-compendial excipients designed to physically modify their properties in a manner not achievable by simple physical mixing, and without significant chemical change.”

Challenge: Consumer skepticism associated with nutraceutical products due to rural and semi-urban consumer perception of dietary supplements as pharmaceutical drugs and their false claims.

The majority of the population is skeptical about the consumption of nutraceutical products, particularly the dietary supplement products. In addition, the increase in unawareness among rural and semi-urban consumers about dietary supplements and the lack of education regarding the same discourages key players from investing. This population contributes to a major share of the non-dietary supplement consuming population in the developing and non-developing countries. In addition, consumers perceive dietary supplements as medical drugs and are apprehensive about incorporating the same in their daily dietary lifestyles. Due to these factors, a number of manufacturers are focusing on developing different formulations of supplements, such as gummies, soft chews, and others, on mitigating the fear of consuming tablets and capsules as nutraceuticals. However, these formulations are still in the early stage of entering the global market. In contrast, tablets and capsules in the nutraceutical market already have a majority share, which hinders the growth of this market.

The binders segment is estimated to account for the largest share in the nutraceutical excipients market in 2020, by functionality.

Based on functionality, binders accounted for the largest market share in 2019, followed by the fillers & diluents functionality segment. Binder is increasingly being used by dietary supplement manufacturers since these excipients are formulated to act as an adhesive to “bind together” powders, granules, and other dry ingredients to impart the required mechanical strength. Binders can also help in adding volume to low-active dose tablets, resulting in producing effective tablets with appropriate actives by holding the ingredients together. In addition, some binders also act as fillers and diluents in an array of application products, namely magnesium stearate, which is used widely as food and supplement additive. Due to factors such as versatility and vital importance in gaining product efficiency, binders are gaining traction and are witnessing a rise in consumption as an excipient in the nutraceutical industry.

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North America is estimated to dominate the nutraceutical excipients market in 2020

North America accounted for the largest market share in 2019. The nutraceutical excipients market in North America is dominating, owing to the concentration of the global players such as DuPont (US), Kerry (Ireland), Cargill (US), and Ingredion (US). The market for nutraceutical excipients here is mature, and hence, the growth is moderate compared to other regions. Other factors contributing to the growth of nutraceutical excipients in North American region include the busy lifestyle of consumers, prevalence of chronic diseases due to hectic lifestyles, and an increase in awareness among consumers regarding the health benefits of nutritional foods, including food supplements, which has driven the demand for functional food products. In addition, the use of technological advancements and new product launches have made excipients available for a wide range of applications in the fortified food & beverage, dietary supplements, and nutraceuticals sectors, which is projected to drive the growth of the market in the region.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the nutraceutical excipients market. The key players in the nutraceutical excipients market include DuPont (US), BASF SE (Germany), Kerry Group PLC (Ireland), Ingredion Plc (US), Sensient Technologies (US), Associated British Foods (UK), Roquette Freres (France), Meggle Group Wasser (Germany), Cargill Inc (US), Ashland Global Holdings Inc (US), Seppic (France), Shin-Etsu Chemical Co Ltd (Japan), Fuji Chemical Industries Co Ltd (Japan), Pharmatrans Sanaq AG (Switzerland), Pioma Chemicals (India), Gattefosse (India), W.R.Grace & Co (US), Omya (Switzerland), Grain Processing Corp (US), and Gangwal Chemicals Pvt Ltd (India). The nutraceutical excipients market also consists of key start-up players, which include IMCD (Netherlands), Hilmar Ingredients (US), Innophos Holdings Inc (US), JRS Pharma (Germany), Biogrund GmbH (Germany), Pharma Line Intl Corp (South Korea), Jigs Chemical (India), Panchamrut Chemicals (India), Azelis Chemical Ltd (Europe), and Daicel Group (Japan).

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com
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