Sarasota, FL -- (SBWire) -- 08/30/2018 --Zion Market Research has published a new report titled "Nutraceutical Excipients Market By Type (Fillers & Diluents, Binders, Coating Agents, Disintegrants, Lubricants, and Flavoring Agents), by Application (Prebiotics, Probiotics, Amino Acids & Proteins, Minerals, Vitamins, and Omega-3 Fatty Acids): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, the global nutraceutical excipients market accounted for USD 4.18 billion in 2017 and is expected to reach USD 6.26 billion by 2024, growing at a CAGR of around 8.41% between 2018 and 2024.
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The global nutraceutical excipients market is expected to witness significant growth over the forecast period on account of increasing health awareness across the globe. Nutraceutical excipients refer to bioactive compounds that are used for enhancing the bioavailability of nutraceuticals.
In the case of pharmaceuticals, nutraceuticals excipients such as coating agents, flavoring agents, disintegrants, lubricants, binders, fillers, and diluents help to control the unstable nature of nutraceutical products. It also has variable particle size distribution, poor flow, and poor bulk density. Nutraceutical excipients are used as a binder in a tablet which helps to stabilize active ingredients in the formulation. The nutraceutical excipients are used in a different form of supplements ex. capsules, liquid syrups, powders, and tablets. However, factors that may hamper the growth of nutraceutical excipients market are less expenditure on research & development and the high cost of clinical trials.
Binder segment dominated the global nutraceutical excipients market in 2017. Binder is used as stabilizing active ingredients in drug formulation. The nutraceutical excipients are used in the different form of supplements ex. capsules, liquid syrups, powders, and tablets. These factors are responsible for the growth of the nutraceuticals excipients market in the forecast year.
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Probiotics and prebiotics are the leading application segment accounting for most of the global market share and are expected to witness growth within the forecast period. This can be attributed to the increased consumer awareness about the health advantage of nutraceuticals across the globe. Probiotics and prebiotics are expected to be the fastest growing application segment within the forecast period.
In terms of geography, North America was a second largest market for nutraceutical excipients in 2017 due to the rising health awareness and the presence of major companies operating in the region such as Ingredion, Cargill, Kerry, and DuPont, especially in the U.S. and Canada. The Asia Pacific accounted for the significant share followed by North America. The Asia Pacific is expected to be the fastest growing region for the nutraceutical excipients market owing to the rising pharmaceutical practice in the region. Latin America and the Middle East & Africa are expected to witness moderate growth within the forecasted year.
The key players operating in this industry are Eastman Chemical Corporation, P&G Chemicals, Lubrizol Corporation, Avantor Performance Materials, LLC, Ashland Inc., BASF SE, Roquette, Huntsman Corporation, FMC Corporation, JRS Pharma, Valeant, Shin-Etsu Chemical Co., Ltd., Colorcon Inc, Finar Limited, and DFE Pharma, among others
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This report segments the global nutraceutical excipients market as follows:
Global Nutraceutical Excipients Market: Type Analysis
Fillers & diluents
Binders
Coating agents
Disintegrants
Lubricants
Flavoring agent
Global Nutraceutical Excipients Market: Application Analysis
Prebiotics
Probiotics
Amino acids & proteins
Minerals
Vitamins
Omega-3 fatty acids
Global Nutraceutical Excipients Market Is Expected to Reach $6.26 Bn by 2024
Global nutraceutical excipients market expected to reach USD 6.26 billion by 2024, growing at a CAGR of around 8.41% between 2018 and 2024. The global nutraceutical excipients market is expected to witness significant growth over the forecast period on account of increasing health awareness across the globe.