Market Dynamics
Increasing demand for nutraceutical products and growing health awareness among consumers: The increasing demand for functional foods and dietary supplements is one of the major drivers propelling the growth of the global nutraceutical excipient market. Consumers are increasingly adopting preventive healthcare measures to maintain well-being and reduce medical expenses. Additionally, growing health awareness regarding lifestyle disease risk factors has augmented the demand for nutraceuticals. nutraceutical excipients help improve absorption and effectiveness of these supplemental products which further boosts their demand.

Development of novel nutraceutical excipients: Manufacturers are focusing on developing novel excipients to enhance the functionality and efficacy of end products. For instance, in 2020 Arkema launched Vanceva ColorMatrix technology that enables direct formulation of oil, water-soluble nutrients, probiotics, and prebiotics into gummy and soft chew formats with vibrant colors. Growing innovation in excipients tailored for specific delivery systems and actives is augmenting the market growth.

Key Takeaways

The global nutraceutical excipient market is expected to witness high growth over the forecast period. Global Nutraceutical Excipient Market Size is estimated to be valued at US$3087.7 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031.

The Asia Pacific region currently dominates the market due to rising health awareness, increasing disposable incomes and growing nutraceutical industry. China, India and Japan are major markets driven by population expansion, busy lifestyles and proactive government support.

Key players operating in the nutraceutical excipient market are Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co. Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon. The market is consolidated in nature with top players focusing on capacity extensions, partnerships and new product launches catering to changing demands.

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