Factors Driving the Nutraceutical Excipients Market

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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Impact of COVID-19 on the current market size and forecast.

COVID-19 pandemic has led multiple operations to cease. The global nutraceutical excipients market is increasingly impacted due to the uncertain circumstances that have occurred worldwide. The effects of COVID-19 primarily affect the supply chain of final products, as well as raw material ingredients of global manufacturers. As its major applications are concentrated in products belonging to dietary supplements, followed by food & beverages, the market is projected to witness a slow-down until the local and national governments do not ease import and export regulations. Overall, this market is dominated by the global players that have manufacturing facilities in certain regions and operations/supply across countries.

Driver: Advancements in nanotechnology equipped with new features to drive the growth of the nutraceutical excipients market

Nanotechnology-enabled drug delivery systems (NDDS) are used to cater to the issue of drug toxicity. There are two major approaches to use nanotechnology as a drug delivery system (DDS). The first is to reduce the size of nutraceutical drug crystals to ensure enhanced solubility and bioavailability, while the second approach is to use some form of nano-carrier for effective delivery of active ingredients. In March 2009, the scientific committee of the European Food Safety Agency published an opinion on nanoscience and nanotechnology regarding food and feed safety. A document offering guidance on how to assess potential risks associated with certain food-related uses of nanotechnology was followed in May 2011, providing practical recommendations to regulators on how to assess applications that use engineered nanomaterials in food additives, enzymes, flavorings, food contact materials, novel foods, food supplements, feed additives, and pesticides.

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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), Pi