Southeast Asia Nutraceutical Excipients Market

The Southeast Asia nutraceutical excipients market size was USD 865.50 Million in 2022 and is likely to reach USD 1.92 Billion by 2031, expanding at a CAGR of 9.3% during 2023–2031. The growth of the market is attributed to the growing developments in bioactive food components and functional foods used as dietary supplements. Moreover, increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, respiratory diseases along with unhealthy lifestyle pave a key aspect for the market expansion.

Heat, light, oxygen, alkaline pH, and high humidity make many chemicals in nutraceutical products unstable. During the production of various forms of supplements such as tablets, capsules, powders, and liquid syrups; different nutraceutical excipients such as flavoring agents, fillers, diluents, binders, disintegrants, colorants, lubricants, coating agents, sweeteners, and others are used to control the unstable nature of compounds. Furthermore, compounds that increase the efficacy of the products are being developed using technological advancements. Additionally, multifunctional excipients are being developed to combine the advantages of bulk excipients. Additionally, investments in novel formulations for aesthetic appeal have raised demand in various counties such as Indonesia, the Philippines, and Vietnam. On the other hand, several multinational excipient manufacturers have cut costs in a number of areas in the recent years.

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The ten members of Association of Southeast Asian Nations (ASEAN) began the process of developing a regulatory framework for standardized health supplements in 2004. Furthermore, this regulatory framework for nutraceuticals/health supplements safety, quality, and labelling is being formulated by the ASEAN Alliance of Health Supplement Association. On the other hand, harmonization of regulatory rules is a significant step towards making regional international trade more efficient.

Due to the global COVID-19 pandemic outbreak, multiple operations have been halted across countries and business operations of several companies in the region had been completely shattered. Furthermore, the nutraceutical excipients market is progressively influenced as a result of the global economic uncertainty. In addition, COVID-19 has a major impact on the final product supply chain along with the raw material ingredients used by worldwide manufacturers. However, wide applications of the dietary supplement items across industries especially in food and beverages presents a key dimension for the market expansion.

Southeast Asia Nutraceutical Excipients Market Trends, Drivers, Restraints, and Opportunities

• Rising awareness among the aging population pertaining to disease management and prevention using nutraceuticals is expected to boost the market growth during the forecast period.

• Increasing demand for excipients with advanced functionalities and growing focus on developing new excipients blends by key players are propelling the market expansion in the coming years.

• High cost involved in clinical trials along with less investments in R&D activities for nutraceutical excipients are expected to hinder the market expansion.

• Growing concern related to complexity around protection and preservation of a nutrient value to ensure good quality of nutraceutical acts as a significant challenge for market growth in the coming years.

• Rising need for high quality nutritious products in developing countries and growing application in protein and amino acids are anticipated to offer a great opportunity for market during the forecast period.

Scope of Southeast Asia Nutraceutical Excipients Market Report

The report on the Southeast Asia nutraceutical excipients market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Southeast Asia Nutraceutical Excipients Market Segment Insights

Film coating excipients segment is projected to account for a key market share

Based on products, the Southeast Asia nutraceutical excipients market is divided into film coating, flow aids, taste masking & sweeteners, thickeners, preservatives, lubricants, flavors, disintegrants, binders, colors, antifoams, carriers, sugars and polyols, and modified release. The sugars & polyols segment is further bifurcated into solid and liquid. The film coating segment is expected to account for a key market share during the forecast period owing to the increasing advancements in film coating materials. Certain advantages of functional film coatings for enteric or controlled release results in high use of these products in a variety of formulations. Furthermore, excipients requirement to assist bioactive distribution in order to achieve desirable pharmacokinetic and pharmacodynamic qualities is estimated to boost the nutraceutical innovation.

Moreover, quality control, content homogeneity, compressibility, flow, particle size, moisture sensitivity, and ingredient interaction are all directly proportional to the number of active components used. The creation of co-processed and multifunctional excipients, which allow nutraceutical makers to reduce the number of ingredients in the final formulation. For example, multifunctional calcium phosphate is used as a filler and binder in nutritional supplements as well as a source of phosphorous and calcium. Additionally, mineral excipients of the new generation are highly efficient carriers for a variety of drugs, and their controlled release features make them valuable.

However, the sugars & polyols segment is projected to register a high CAGR during the forecast period owing to higher sweetness attained through the use of low-calorie carbohydrates is quickly gaining favor as a sugar alternative. In addition, the formulation being designed determine whether these polyols are used in solid or liquid form. Thus, all these factors are expected to upsurge the sugar and polyols segment growth.

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Malaysia is anticipated to dominate the market

On the basis of regions, the market is classified as Malaysia, Vietnam, the Philippines, Indonesia, Thailand, Singapore, Australia, and New Zealand. Malaysia is anticipated to dominate the market during the forecast period owing to the increasingpenetration of nutraceuticals along with relaxing restrictions by Drug Control Authority (DCA). Furthermore, Nutraceuticals are increasingly becoming popular among Malaysian women for weight loss while men are using them to improve body function.

However, the market of Australia is also expected to expand at a considerable CAGR in the coming years due to the presence of well-established pharmaceuticals companies in the country. Furthermore, Australian and New Zealand manufacturers were permitted to enter the market after the implementation of the Australia-United States Free Trade Agreement (AUSFTA) in 2005, resulting in considerable changes over time. Thus, all these factors are fuelling up the market growth in the region. Meanwhile, the market of Indonesia is expected to exhibit lucrative growth rate in the coming years due to rising spending money on healthy foods among a large number of health-conscious population in the country.

Segments

The Southeast Asia nutraceutical excipients market has been segmented on the basis of

Products

• Film Coating
• Flow Aids
• Taste Masking & Sweeteners
• Thickeners
• Preservatives
• Lubricants
• Flavors
• Disintegrants
• Binders
• Colors
• Antifoams
• Carriers
• Sugars & Polyols
  • Solid
  • Liquid
• Modified Release

Geography

• Malaysia
• Vietnam
• The Philippines
• Indonesia
• Thailand
• Singapore
• Australia
• New Zealand

Key Players

• SPI Pharma
• DuPont Nutrition and Health
• The Dow Chemical Company
• Barentz
• Cargill Inc.
• BASF SE
• JRS Pharma
• BEHN MEYER
• Sensient Colors LLC.

Competitive Landscape

Some of the key players competing in the Southeast Asia nutraceutical excipients market are SPI Pharma; DuPont Nutrition and Health; The Dow Chemical Company; Barentz; Cargill Inc.; BASF SE; JRS Pharma; BEHN MEYER; and Sensient Colors LLC.

These key players are implementing various marketing strategies such as capital investments, merger & acquisitions, new product development, and partnerships & collaboration to enhance their market position in the regional competition. For instance, DFE Pharma, a major provider of pharmaceutical excipient solutions has announced the launch of its new product line, BioHale, in April 2021, to meet the growing demand for biopharmaceutical firms all around the world.