Nutraceutical Excipients Market To Reach US$4.27 Billion By 2022
Wednesday, April 4th, 2018 | 506 Views
The global nutraceutical excipients market is estimated at US$2.96 billion in 2017 and is projected to reach a value of US$4.27 billion by 2022, growing at a compound annual growth rate of 7.6 percent, according to market intelligence agency MarketsandMarkets.
The market is driven by factors such as the growing demand for nutraceuticals and advances in nanotechnology used in imparting new functions to excipients. The major players in the food industry are investing in research and development activities to expand their excipient product portfolios and attract more consumers by providing products at lower prices.
An excipient is a substance formulated alongside the active ingredient of nutraceuticals and pharmaceuticals for the purpose of long-term stabilisation, bulking up solid formulations that contain active ingredients in small amounts.
By functionality, the proteins and amino acids segment accounted for the largest share of the market in 2016, followed by the omega-3 fatty acids. Excipients are necessary during the manufacturing of protein-based nutraceutical products to avoid protein aggregation. Excipients are also used in the manufacture of amino acid-based nutraceutical products; for instance, in the powder form of the amino acid supplement, they are used for the powder to dissolve easily and give it an acceptable taste.
On the basis of type, fillers and diluents accounted for the largest market share in 2016. Fillers are increasingly being used by dietary supplement manufacturers, since the volume of active ingredients in some supplements is extremely low (in micrograms). In such cases, fillers help in bulking up the product. The easy availability and wide acceptance of fillers and diluents to nutraceutical product manufacturers have accelerated the growth of this segment.
The dry form of nutraceutical excipients accounted for a larger market share, as compared to the liquid form. The popularity of dry form nutraceutical excipients can be attributed to its cost-effectiveness and convenience in multiple applications. Increase in demand for dry beverage mixes with additional nutrients—including customised mixes—and consumer preference for fortified beverages are fueling the growth of the dry segment in the market.