The Nutraceutical Excipients Market is estimated to be valued at US$ 2,427.8 million in 2023 and is expected to exhibit a CAGR of 10.4% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The nutraceutical excipients market refers to the substances added to nutraceutical products to enhance their stability, bioavailability, and functionality. These excipients play a crucial role in delivering the active ingredients to the human body by providing protection and facilitating absorption. Nutraceutical excipients find applications in the production of dietary supplements, functional foods, and beverages. These products are gaining popularity due to their potential health benefits and are widely consumed by health-conscious individuals. The market for nutraceutical excipients is driven by the increasing demand for functional foods and rising awareness about the importance of a healthy lifestyle.
Key Takeaways:
The global nutraceutical excipients market is expected to witness high growth, exhibiting a CAGR of 10.4% over the forecast period, 2022-2030. This growth is driven by factors such as increasing consumer awareness about the benefits of nutraceutical products, technological advancements in product development, and the rise in healthcare expenditure.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the nutraceutical excipients market. The region has a strong presence of key players, advanced healthcare infrastructure, and a high level of consumer awareness about health and wellness.
Key players operating in the nutraceutical excipients market include DuPont, PG Chemicals, Eastman Chemical Corporation, and Huntsman Corporation, among others. These players have a strong market presence and offer a diverse range of high-quality excipients to cater to the growing demand for nutraceutical products.
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