Nutraceutical Excipients Market To Grow At a CAGR Of Approximately 7% During The Forecast Period
Increasing use of bioactive ingredients in production of nutraceuticals has risen the demand for nutraceutical excipients in the market. These are used for stabilization of the nutraceuticals. Nutraceuticalmanufacturers are continuously using excipient foods to enhance the performance of their product and increase their effectiveness.
Increasing awareness among customers regarding healthy lifestyles, growing demand for nutraceuticals, and advancements in nanotechnology are expected to drive the Nutraceutical Excipients Market growth in the coming years. Moreover, food innovation and pharmaceutical discovery will gain traction due to increasing innovation by using nutraceutical excipients, during the forecast period. Moreover, The global nutraceutical excipients market is expected to grow at a CAGR of about 7% around the globe over the forecast period.
Furthermore, the Nutraceutical Excipients Market is categorized into various segments such as Fillers & diluents, Binders, Coating agents, Disintegrants, Lubricants, and Flavoring agent. Fillers & diluents accounted for the largest market share in 2016. Fillers are extensively used by dietary supplement manufacturers which have kept the market demand high. On the other hand, Lubricants is expected to have the fastest growth over the forecast period. They used to improve the quality of end products and enhance the features of the end product.
Asia-Pacific To Be The Fastest Growing Market Over The Coming Years
The Asia-Pacific is projected to grow robustly around the globe owing to busy lifestyles and increase in disposable incomes, which has resulted in the high demand for fortified nutritional food & beverage products in the region. Moreover, the demand for excipients is likely to grow due to its increased use in the nutraceutical industry.
However, North America accounted for the largest market share in 2016. The market in this region is dominated by the presence of leading companies such as DuPont, Kerry, Cargill, and Ingredion, who extensively focus on research and development activities for product development and innovation.
Product Innovation To Raise The Global Demand Over The Forecast Period
Companies such as Kerry Group plc, Associated British Foods plc, Roquette Fréres S.A., DuPont, Ingredion Incorporated, Meggle AG, Hilmar Ingredients, JRS Pharma GmbH & Co.KG, Innophos, Inc., Cargill, Incorporated and IMCD Group B.V. are the global players leading the market in nutraceutical excipients production. Increasing utilization of nutraceutical excipients in the dietary supplements to improve the efficacy of the products will likely propel the market growth over the forecast period.