Nutraceutical Excipients Market 2019 | World Market Analysis 2029 | Market Leaders – Cargill Incorporated, DowDuPont Inc., Kerry Group plc
Nutraceutical Excipients Manufacturers to Discover Promising Application Opportunities in Prebiotics & Probiotics: FMI Study
The US$ 2 billion market for nutraceutical excipients will reportedly see a healthy Y-o-Y expansion at more than 6% in 2019. According to a recently published research report of Future Market Insights (FMI), over 3/5th of the overall consumption is accounted by dry nutraceutical excipients. The thriving trend of preventive healthcare is primarily creating a favorable environment, boosting sales of nutraceuticals and nutraceutical excipients.
The report opines that binders, followed by fillers and diluents, are likely to remain the most sought after types of nutraceutical excipients in the global market. Over 50% of the total demand for nutraceutical excipients is collectively accounted by binders, and fillers and diluents.
Demand for High-quality Nutraceuticals Rising in Developing Regional Markets
End use in protein and amino acids is likely to contribute to over a fourth of the global nutraceutical excipients market value over the coming years, followed by Omega 3 fatty acids. FMI's analysis further points to a significant combined share of vitamins and minerals, as the key end use segments, in the global nutraceutical excipients market revenues. Rapidly increasing adoption of the pre and probiotics concept to complement the nutritional profile of conventional diet is highly likely to result in billowing consumption of nutraceutical excipients in prebiotics and probiotics, in the near future.
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There has been a rising demand for low-cost nutraceutical excipients from developing economies in Asia Pacific and Middle East owing to the surging consumption rate within the local nutraceutical and nutraceutical excipients manufacturing space. Recently, the demand for high-quality nutraceutical excipients has seen a significant increase in developed economies, which is further receiving strong support from multiple government-driven initiatives related to overall drug manufacturing and healthcare services within emerging economies.
Moreover, increasing concerted research opportunities in nutraceutical formulations are being driven by the development of new regulations, funding opportunities, and increasing number of PPPs (private-public partnerships). These factors, according to FMI’s analysis, will play a vital role in uplifting the consumption of nutraceutical excipients in coming years.
Lack of Defined Regulatory Framework Continues to Affect Competition Landscape
The manufacturers of nutraceutical excipients and key market players are looking forward to the development of multifunctional and co-processed nutraceutical excipients. The incessantly growing demand for oral solid dosage and sustained release excipients is likely to translate into several new product launches by the manufacturers. Some of the key players profiled in global nutraceutical excipients market report include Ingredion Incorporated, Cargill Incorporated, DowDuPont Inc., Kerry Group plc, Ashland Global Holdings Inc., BASF SE, Innophos, Inc., Roquette Frères S.A., and SPI Pharma, Inc.
Currently, there is no fixed regulatory guideline defining the manufacturing process for nutraceutical excipients. However, guidelines set by IPEC (the International Pharmaceutical Excipients Council) are accepted by a majority of manufacturers. Despite this, there are several facilities, which do not adhere to IPEC guidelines, which often calls for physical audits by the concerned regulatory agencies, governed by acts such as EU Falsified Medicines Directive (FMD or Directive 2011/62/EU) and 2012 US Food and Drug Administration Safety and Innovation Act (FDASIA) - in order to ensure a secure supply chain and prevent any wrong practice.
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The lack of fixed rules and regulations continues to be a major barrier to rapid growth of the nutraceutical excipients market over the years, thereby necessitating proper regulation laid down by the authorities and adherence to GMPs (good manufacturing practices) by manufacturers of the nutraceutical excipients, as well as other players in the nutraceutical excipients landscape.
This report on nutraceutical excipients covers the trends driving each segment and offers analysis and insights of the potential of the nutraceutical excipients market in specific regions. The nutraceutical excipients market in North America is expected to lead the market in terms of share, followed by Europe. South Asia’s market for nutraceutical excipients is anticipated to register an impressive CAGR over the forthcoming years and is cited in the report as a high-potential market for a majority of new entrants foraying into the nutraceutical excipients landscape.