The global nutraceutical excipients market size is estimated to account for about USD 3.4 billion in 2020 and projected to reach a value of nearly USD 4.9 billion by 2025, growing at a CAGR of 7.3% from 2020 to 2025. The market for nutraceutical excipients market has been growing in accordance with the rise in demand and consumption for nutraceuticals, around the globe. The consumption of dietary supplements in the form of tablets and capsules has been witnessing an upsurge demand in recent times, owing to the growing awareness for health benefits offered by these products that helps to support the wellbeing of the consumers.
The key driving factors of the nutraceutical excipients market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused due to lack of intake of necessary nutrients as a result of imbalanced dietary lifestyles. Food fortification is one of the major trends, which is also fueling the nutraceutical excipients market in the functional food & beverage industry.
The nutraceutical excipients market is driven by several factors, including:
- Increasing demand for functional and fortified foods
- Growth in the dietary supplement industry
- Growing health awareness and preference for natural ingredients
- Technological advancements in the development of new excipients
- Increasing demand for personalized nutrition
- Growing geriatric population and associated health concerns
- Rising disposable income and changing lifestyles
- Growing e-commerce and online sales channels
Overall, the growing demand for natural and functional ingredients in food and dietary supplements is the key factor driving the growth of the nutraceutical excipients market.
