Market overview:
Nutraceutical Excipients Market has been valued $2.1 billion in the year 2019 and it is estimated to reach $2.8 billion by the year 2026, with a CAGR of 6.4% from 2021 to 2026. Nutraceutical Excipients is “a combination of two or more compendial or non-compendial excipients designed to physically modify their properties in a manner not achievable by simple physical mixing, and without significant chemical change; these are the main factors that have considerably increased the demand for the Nutraceutical Excipients in the market, thereby driving the huge growth of the Nutraceutical Excipients market in the upcoming years
Market Drivers and Restraints:
The main factors that have considerably increased the demand for the Nutraceutical Excipients in the market is mainly due to the rise in demand for fortified food products, increase in health consciousness among consumers and growing emphasis on preventive care is encouraging investments in products or solutions are the major factors driving the growth of nutraceutical excipient market. The rise in the incidences of chronic diseases among consumers, deficiency of nutrition and growth in awareness regarding diseases and preventive care among population accelerate the nutraceutical excipient market growth. The advancements in nanotechnology equipped with new features, introduction of mandates on food fortification by government organizations and rise in awareness regarding the health benefits of nutraceutical excipient further influence the nutraceutical excipient market; these are the main factors that have considerably increased the demand for the Nutraceutical Excipients in the market, thereby driving the huge growth of the Nutraceutical Excipients market in the upcoming years
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Report is segmented as:
Nutraceutical Excipients Market is segmented on the basis of by :
by Form (Dry and Liquid)
by End Product (Probiotics, Proteins & Amino Acids, Prebiotics, and Vitamins)
by Functionality (Fillers & Diluents, Coating Agents, Binders, and Flavoring Agents)
Geographical Segmentation:
Nutraceutical Excipients Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Nutraceutical Excipients is due to the increase in awareness among consumers regarding the health benefits of nutritional foods including food supplements these are the main factors that have considerably increased the demand for the Nutraceutical Excipients in the North America , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Nutraceutical Excipients Market
Impact of COVID-19 on Market
Covid -19 pandemic has affected the growth of business of every sector and it also affected the growth of the Nutraceutical Excipients market, and temporary lack of growth in export and import activities, which has impacted the rays of Nutraceutical Excipients market growth. Covid-19 pandemic has impacted huge on the sales revenue of Nutraceutical Excipients market. Due to the government restrictions like lockdown in many countries has shutdown the commercial and industrial establishments and also stopped in transportation these made huge loss for Nutraceutical Excipients market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.
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