The nutraceutical excipients market size is projected to grow from USD 4.2 billion in 2023 to USD 6.1 billion by 2028, growing at a CAGR of 7.7% during the forecast period. Personalized nutrition plans and online sales are rapidly merging to transform the nutraceutical market. As individuals embrace tailored diets, the need for customized products with specific excipients, tailored delivery systems, and targeted nutrients soars. The flourishing retail market indicates a larger consumer base with increased disposable income and a heightened focus on health and wellness. Consequently, there is a surge in demand for nutraceutical products like functional foods and dietary supplements. This escalating demand is driving the necessity for specialized excipients utilized in formulating these products. According to the USDA, total retail food sales in the United States soared to USD 15.2 billion for the week ending May 1, 2022, compared to USD 12.7 billion for the same period in 2019, showcasing significant fluctuations across various categories.
Nutraceutical Excipients Market Share
The key players in the nutraceutical excipients market include International Flavors & Fragrances Inc (US), Kerry Group plc (Ireland), Ingredion (US), Sensient Technologies Corporation (US), Associated British Foods plc (UK), BASF SE (Germany), Roquette Frères (France), MEGGLE GmbH & Co. KG (Germany), Cargill, Incorporated (US), Ashland (US), IMCD (Netherlands), Hilmar Cheese Company, Inc (US), Air Liquide (France), Azelis Group (Luxembourg), and Biogrund GmbH (Germany).
International Flavors & Fragrances Inc
International Flavors & Fragrances Inc. is a leading manufacturer specializing in creating solutions for food, beverage, health, biosciences, scents, and pharmaceuticals, along with related products like cosmetic actives and natural health ingredients. Within their Pharma Solutions segment, they produce a diverse range of cellulose and seaweed-based pharmaceutical excipients. These excipients play a vital role in enhancing the functionality and delivery of active pharmaceutical ingredients, enabling the creation of controlled or modified drug release formulations, thereby improving the effectiveness of pharmaceutical finished dosage forms. Apart from pharmaceuticals and dietary supplements, these excipients find applications in various specialty and industrial sectors, such as coatings, inks, electronics, agriculture, and consumer products. In November 2023, a collaboration was unveiled between IFF and BASF’s Pharma Solutions divisions. The partnership aims to integrate IFF’s prominent product brands in pharmaceutical excipients into BASF’s Virtual Pharma Assistant platform, known as ZoomLab™. This innovative digital tool is rooted in scientific insights and is tailored to swiftly and precisely anticipate the most suitable excipients required for crafting new pharmaceutical formulations. The primary objective of this collaboration is to assist in resolving formulation challenges encountered during the development of pharmaceuticals by leveraging the advanced predictive capabilities offered by the ZoomLab platform.
Kerry Group plc
Kerry Group plc, a global frontrunner in taste and nutrition, commands a significant position within the expanding nutraceutical excipients market. Their extensive assortment caters to the industry’s evolving demands, delivering a comprehensive selection of top-tier, functional excipients for nutraceutical products. Their range encompasses various excipients, including lactose monohydrate, microcrystalline cellulose, direct compression excipients, and specialized functional excipients designed to enhance taste, texture, or delivery methods. Operating across more than 130 countries, Kerry ensures streamlined supply and global distribution of these excipients to nutraceutical manufacturers worldwide.
Ingredion
Ingredion, a global provider of ingredient solutions spanning across 120 countries, specializes in transforming various plant-based materials like grains, fruits, and vegetables into innovative ingredient solutions. Leveraging their Ingredion Idea Labs innovation centers, the company collaborates with customers to create cutting-edge ingredient solutions aligned with current trends. Their vegetable-based excipients and encapsulants specifically cater to pharmaceutical and nutraceutical companies, offering a dependable and uniform solution for optimizing tabletting and encapsulation processes. These excipients play a crucial role in stabilizing, safeguarding, and facilitating the release of active ingredients such as vitamins, carotenoids, and other APIs, enhancing the efficiency and efficacy of nutraceutical formulations.
On April 2, 2023, Ingredion, a prominent global supplier of ingredient solutions for the food and beverage sector, disclosed the successful execution of two strategic investments in India, aiming to broaden its presence in lucrative pharmaceutical applications. In the third quarter of 2022, Ingredion finalized the acquisition of Amishi Drugs & Chemicals (AD&C), based in Ahmedabad, India. AD&C specializes in producing super disintegrants, lubricants, and viscosifiers, which serve as complementary additions to Ingredion’s existing portfolio of starch, mannitol, and dextrose product offerings.
Nutraceutical Excipients Market Recent Developments:
- In September 2022, Roquette, renowned for its expertise in plant-based ingredients and its prominent position as a supplier of pharmaceutical and nutraceutical excipients, finalized the acquisition of Crest Cellulose, an excipient manufacturer based in India. Building upon its prior acquisition of a majority stake in 2018, this recent development underscores Roquette’s commitment to advancing its robust expansion goals and addressing the increasing worldwide need for top-tier plant-based excipients. This strategic move aligns with Roquette’s endeavors to meet the escalating global demand for high-quality excipients derived from plant sources.
- In February 2021, IFF finalized the merger with DuPont’s Nutrition & Biosciences (N&B) division, creating a dominant force in the global ingredients and solutions sector. This amalgamation establishes a leader serving consumer-focused markets such as food & beverage, home & personal care, and health & wellness. Additionally, IFF now offers excipients obtained through the acquisition of DuPont’s Nutrition & Biosciences business.
