Nutraceutical Excipients Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented 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, Other End Products), By Distributi
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNutraceutical Excipients Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented 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, Other End Products), By Distributi
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 4.32 Billion |
| CAGR (2023-2028) | 6.79% |
| Fastest Growing Segment | Binders |
| Largest Market | North America |
Market Overview
Global Nutraceutical Excipients Market has valued at USD 4.32 Billion in 2022 and is anticipated to grow with a CAGR of 6.79% through 2028. Nutraceutical excipients encompass all components of a drug except for the active nutraceutical ingredients. These molecules do not possess inherent medicinal properties; their primary purpose is to enhance the physiological absorption of the drug. Nutraceutical excipients are inert in nature, allowing the drug molecule to be administered to patients in the appropriate form. Traditionally, nutraceutical excipients were simple molecules, but advancements in technology and the growing demand for novel drug delivery systems have led to an increase in the complexity of nutraceutical excipients. They play a crucial role in promoting patient acceptance of the drug and improving its stability and bioavailability.
The field of excipients science and technology has undergone significant changes and continues to evolve. Notable progress has been made in areas such as the standardization of excipient monographs and the application of new analytical methods for more precise characterization of excipients.
Key Market Drivers
Increasing Application of Nutraceuticals
Nutraceuticals, derived from the combination of nutritional and pharmaceutical, utilize nutraceutical excipients, also known as "functional foods," to enhance the efficacy of active ingredients in solutions. These excipients, prepared with Active Pharmaceutical Ingredients (API), are widely employed in standardized and pharmaceutical-grade supplements. The significant rise in medical costs has had a profound impact on the nutraceutical excipient market. Excipients, which are inert substances launched during the manufacturing process or included in the dosage form of nutraceutical products, play a crucial role in adding bulk to solid formulations, ensuring long-term stability, and facilitating drug absorption. Moreover, they enhance the overall safety and functional properties of the product during use or storage. Due to their versatile applications, excipients have become a household name in the field. Consequently, the growing demand for excipients in the global nutraceutical excipient market is driven by the expanding utilization of nutraceuticals in the treatment of chronic diseases.
Technological Developments
Multifunctional excipients constitute a category of excipients encompassing pre-processed and co-processed variants, which bestow added functionalities to the formulation. These augmented functionalities encompass aspects such as flowability, compressibility, particle size distribution, shape, and porosity, among others.
The recent surge in demand for specialty excipients, collectively referred to as multifunctional excipients, can be attributed to the growing interest in rigorous manufacturing processes and the emphasis on alternative delivery systems. In addressing the issue of drug toxicity, nanotechnology-enabled drug delivery systems have gained considerable prominence. Two primary approaches are employed to utilize nanotechnology as a drug delivery systemreducing the size of nutraceutical drug crystals to enhance solubility and bioavailability and employing some form of nano-carrier for the effective delivery of active ingredients.
Increasing Demand of Nutraceutical Excipients
The growing interest in health and wellness, coupled with a rising awareness of preventive healthcare, has led to an increased demand for nutraceutical products. Nutraceutical excipients play a vital role in formulating these products to deliver the desired health benefits to consumers.
Nutraceutical excipients serve a wide range of functions, such as improving product stability, enhancing bioavailability, providing taste masking, controlling release profiles, and ensuring content uniformity. This diversity of functions makes them essential components in various nutraceutical formulations.
Innovation in Nanotechnology
The introduction of innovative excipient technologies has expanded the possibilities for nutraceutical product development. Novel excipients with enhanced functionalities, such as nanotechnology-based excipients, have opened new avenues for product formulation and differentiation. Nanotechnology-enabled drug delivery systems (NDDS) are employed to address the challenge of drug toxicity. Nutraceutical excipient manufacturers are offering customized solutions and excipient blends that meet the specific needs of different nutraceutical formulations. This flexibility allows formulators to create products optimized for target markets and consumer preferences. Ongoing research and development efforts in the nutraceutical industry have led to the development of novel formulations, including complex delivery systems and combination products. Nutraceutical excipients are crucial in enabling these advancements and improving the performance of such formulations.
Key Market Challenges
Side Effects Associated to Nutraceutical Excipients
Most nutraceuticals contain excipients, which serve various purposes. These excipients play a crucial role in enhancing product performance, such as facilitating formulations, improving patient acceptance and compliance, or delivering more effective and safe drugs like modified release formulations or taste-masked syrups for children.
It is important to note that nutraceutical excipients are not always inert substances as commonly assumed. They can cause intolerance in individuals or, if not carefully screened, lead to chemical changes in the drug, resulting in side effects. This aspect poses a challenge to the market and can impact the demand for such excipients.
High Cost of R&D Investment
Excipients and nutraceutical products undergo extensive clinical and chemical development, necessitating significant R&D investments, clinical trials, and approvals from relevant authorities across different countries/regions. Moreover, the development of such products is a long-term endeavor encompassing formulation, trial & testing, and commercialization. However, substantial R&D investments do not always yield proportional productivity returns. Even after a successful molecule discovery, the costs associated with introducing a new nutraceutical product or excipient to the market are significantly high. Additionally, competing players in the market may develop alternative and cost-effective solutions, further complicating the trial and testing process and leading to wastage of time, money, and effort invested in advancing the later stages of product development. Consequently, the risk of failure remains considerable. Furthermore, the expense of conducting clinical trials to establish the effectiveness of an excipient is relatively high, posing a significant barrier to the market introduction of novel excipients.
Key Market Trends
Increasing Need for Different Delivery Methods and Dosage Forms
The development of new treatments or preventive supplements, such as nutraceuticals, for chronic diseases, along with increased access to medication through generic drug production and heightened research and development spending, plays a crucial role in boosting alternative routes. Furthermore, advancements in novel drug delivery systems (NDDS) and alternative dosage formulations and routes of administration are expected to drive the demand for new excipients and present opportunities for market growth.
Growing Demand of Plant-based Excipients
The growing demand for plant-based and vegan products extended to nutraceutical excipients as well. Manufacturers were exploring plant-based excipients to replace traditional excipients derived from animal or synthetic sources.
As the nutraceutical industry continued to diversify, there was an increasing need for excipient solutions tailored to specific product requirements. Customized excipients offered unique functionalities and allowed manufacturers to differentiate their products in the market.
Segmental Insights
Functionality Insights
The binder segment, depending on its functionality, holds a dominant position in the nutraceutical excipients market and is expected to have a significant impact. Binder excipients play a crucial role in maintaining the structural integrity of formulations, particularly in tablets. By effectively holding the constituents together, binders enable the production of tablets, powders, granules, and other products with the necessary mechanical strength.
Fillers and diluents also play a substantial role in the nutraceutical excipients market. A diluent acts as a substance that dilutes, addressing concerns related to the flow and pumpability of dense or viscous liquids. Fillers, on the other hand, enhance the volume of a product and aid in the absorption of active chemicals by consumers. By improving performance and adding volume or weight, fillers contribute to the cost-effectiveness of solid materials. The inclusion of fillers in supplements helps combine and stabilize the formulation.
End-Product Insights
Probiotics are expected to be the fastest growing segment in the forecast year. Probiotics, comprising yeast and beneficial bacteria, offer numerous advantages to consumers. These include improved digestion, enhanced gut health, strengthened immunity, increased nutrient absorption, and reduced risk of food allergies. Probiotic products are found at in various forms, such as yogurt, drinks, tablets, and capsules. However, developing a commercially viable probiotic formulation poses two primary challenges. First, ensuring the quality of health attributes conferred by probiotic organisms. Second, maintaining formula stability throughout its shelf life.
Companies are actively engaged in the development and provision of probiotic blend products, including APIs (Active Pharmaceutical Ingredient), incorporating diverse excipients. Among these excipients, mannitol has been identified as the most suitable, effectively enhancing the shelf life of end-products. Notably, on September 13, 2022, Nestle's Garden of Life launched two new probiotics targeting children's growth and immune health in China's offline retail market. Similarly, on June 1, 2022, Amway Korea launched a precision probiotics service that analyzes users' feces to provide tailored recommendations for improving their gut microbiome and increasing the production of beneficial short-chain fatty acids.
Regional Insights
North America is projected to maintain its dominance in the Nutraceutical Excipients Market in 2022. This can be attributed to the presence of major international companies such as DuPont (US), Kerry (Ireland), and Cargill (US) in the region. Furthermore, the busy lifestyles of consumers, the prevalence of chronic diseases resulting from hectic lifestyles, and increasing consumer awareness of the health benefits of nutritional foods, including food supplements, have all contributed to the growth of the Nutraceutical Excipients Market in North America. As a result, the demand for functional food products has witnessed a significant surge.
Recent Developments
In June 2020, IMCD announced the expansion of its partnership with DuPont Health and Nutrition (US). This strategic move will enhance the market presence of both companies in Kenya, Uganda, and Egypt, as they collaborate to offer an extensive range of products to various industry segments.
In March 2020, Azelis Chemical Ltd entered into an agreement to acquire Cos Bond (China), a specialized distributor of chemicals and food ingredients. This significant development has enabled Azelis to reinforce its distribution network in the Chinese market, leveraging the expertise and extensive reach of CosBond’s existing network channels.
In December 2019, DuPont entered into an agreement to merge its Nutrition & Biosciences business with IFF (US), resulting in the formation of a combined company valued at USD 45.4 Billion. DuPont held a majority stake of 55.4%, while IFF owned the remaining 44.6%, as mutually agreed upon. This strategic move is expected to significantly enhance the company's capabilities in providing nutritional ingredients and solutions to global consumers.
In April 2021, DFE Pharma, a renowned global leader in pharmaceutical excipient solutions, successfully launched its new product line BioHale® to effectively address worldwide supply challenges faced by biopharmaceutical companies.
In November 2019, Innophos Holdings, Inc., a prominent international producer of essential ingredients, expanded its portfolio of co-processed, multifunctional excipients with the introduction of A-Tab® MD at the CPhI 2019 tradeshow and expo held from November 5-7 at Messe Frankfurt GmbH in Frankfurt, Germany.
Key Market Players
- ABF Ingredients
- Cargill, Inc.
- Dow, Inc.
- DuPont de Nemours, Inc.
- EGGLE Wasserburg Verwaltungs GmbH
- Hilmar Ingredients
- IMCD Group BV
- Ingredion, Inc.
- Innophos Holdings, Inc.
- Jrs Pharma GmbH Co. KG
| By Form | By Functionality | By End Product | By Distribution Channel | By Region |
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