On one hand, the accelerating impact of COVID-19 is adversely affecting the entire economy, on the other hand, people are becoming much concerned about their immune health which is a blessing in disguise. Why I call it a blessing in disguise is because- the shifting perspective of consumers from treatment to preventive care causing increasing adaptiveness toward natural, chemical-free remedies. And being the area of natural formulations, Nutraceuticals, as a sector, is flourishing like never before during the pandemic. Thus, along with the pharmaceutical industry, the Nutraceutical sector can also evolve as an industry supporting nation’s economy in a much fruitful manner in the pandemic and the years ahead.

Nutra-ingredients and Nutra-excipients- Market scope 

As per the research, the global Nutra-ingredient market is set to encounter an astonishing growth of USD 167.3 million by 2026 with a CAGR of 4%. The market was accounted for USD 127 Million in 2019 and it is growing inevitably every year. The same goes for Nutra-excipients as well which are projected to reach USD 5.2 billion by 2026 growing at the CAGR of 8.1% from USD 3 billion in 2019.

This impressive growth in the Nutra-ingredients area is expected to be governed by probiotics as several innovative end products getting launched into the market nowadays are some or the other form of probiotics which are gaining much popularity among the population. Functional foods being always the topic of enthusiasm in the Nutra industry will generate sizable revenues in coming years.

Now talking about Nutra-excipients like fillers, diluents, coating agents, binders, disintegrants, flavouring agents, and many more, out of which binder segment is expected to gain much yield owing to the increasing formulations of natural-ingredient based tablets and capsules which require binding of powders, granules, and other ingredients.

Looking at the large population with increasing demand for natural supplements owing to the changing lifestyle and rising incidences of lifestyle diseases, the Asia Pacific region is poised to witness much growth in the Nutraceutical sector in coming years.

Growth boosters

The growth engine of the Nutra industry has many drivers which are efficiently traveling toward the prosperous future of Nutraceuticals. In the pandemic situation, rising awareness about immune health and preventive care is one of the highly distinguishable growth drivers of Nutraceuticals. Other than this, below discussed are four major growth boosters of nutraceuticals that will continue to drive this growth engine even after the pandemic.

1. Life-style diseases- This growth driver will never disappoint the Nutra sector in terms of gaining revenues in recent times. Ever-growing incidences of heart-related diseases, diabetes, obesity, etc insisting consumers to opt for safe and natural nutraceuticals which not only prevent such diseases but also improve the quality of life. An aging population is also on the rise which is making a way for the entry of new nutraceuticals into the market.
2. Changing preferences- Owing to the rising awareness about the nutritional benefits, safety, and therapeutic efficacies of Nutraceuticals, consumers are increasingly becoming adaptive toward chemical-free natural solutions to manage the diseases. Health consciousness coupled with increasing disposal income leading to a new lifestyle which is much oriented around the natural world of nutraceuticals than pharmaceuticals.

A high preference for a balanced diet and food fortification is trending nowadays which is further fuelling the growth of dietary supplements and functional foods.

1. Escalating healthcare cost- Expensive pharmaceutical drugs and high charges of hospitals are some of the biggest factors which are forcing consumers to focus on their immune health to avoid the healthcare facilities which no more pocket-friendly.
2. Innovations- With the increasing interventions of government to boost the research and development in the field of nutraceuticals, new technological innovations are taking place which are not only more efficacious than before but also are cost-effective. Excipients used nowadays mostly poses multifunctional properties which lower the cost of the end product. This ultimately generates high scope for innovative end results in the nutraceutical market.

The nutraceutical industry is all set to explore new market opportunities and support the economy of the country in a much constructive way. The only thing which the producer should keep in mind is- keeping an eye on evolving consumer needs and responding to them. Consumers have always loved experimenting and exploring innovations, producers should offer new experiences to consumers in order to gain attention and secure a sustainable position in the Nutraceuticals market.