The South East Asia Nutraceutical Excipients Market size is expected to reach USD 1.03 billion by 2025 at an 8.22% CAGR, according to a new report by Grand View Research, Inc. Increasing health consciousness and consequently increasing demand for nutraceuticals among consumers in South East Asia (SEA) are expected to drive market growth.
South East Asian countries are recognized as hubs for innovation as far as new ingredients and functional foods are concerned. Major changes in urban lifestyle, high dependence on domestic consumption, and rising disposable income of consumers are key factors boosting the nutraceutical industry in these counties.
Many international nutraceutical manufacturers seek entry into the SEA market owing to the high potential for revenue generation through consumer behavior patterns in this region. For instance, in January 2018, ChromaDex introduced its TRU NIAGEN supplement in Singapore through retail partnerships with Watsons. It is the first and only commercial form of nicotinamide riboside, which supports healthy aging by providing protection against cellular stress, boosting energy, and inducing DNA repair.
Countries like Myanmar, Indonesia, and Philippines present higher prevalence of health issues such as hypertension, obesity, and diabetes, thus exhibiting demand for nutraceutical products. Rising investments by multinational nutraceutical manufacturers in this region are also expected to drive demand for local excipient suppliers.
Furthermore, governments of countries in this region are making efforts to introduce more harmonized regulations for the pharma and nutraceutical industry. Better regulatory standards are expected to enhance penetration of nutraceutical excipient manufacturers in the coming years.
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Further key findings from the report suggest:
- The South East Asia nutraceutical excipients market is driven by players such as Roquette, Dow Chemical Company, SGS, and Azelis
- Film coating excipients held largest revenue share owing to rapid adoption in tablet formulations to overcome key challenges in nutraceutical manufacturing
- Growing demand for low-calorie sugar substitutes to overcome undesirable taste of most nutraceuticals is attributive to the fastest growth of the sugars and polyols segment
- Thailand is projected to witness the fastest growth owing to changing trends in the health and wellness industry. Government initiatives such as the Universal Coverage Scheme further contribute to market growth
- International companies seek entry into the market through distribution partnerships with local players or establishment of subsidiaries in prominent markets
- Some key players in the South East Asia nutraceutical excipients market are SPI Pharma; DuPont Nutrition and Health; The Dow Chemical Company; Barentzk; Cargill Inc.; BASF SE; JRS Pharma; BEHN MEYER; and Sensient Colors LLC.
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Grand View Research has segmented the South East Asia nutraceutical excipients market on the basis of product and region:
South East Asia Nutraceutical Excipients Product Outlook (Revenue, USD Million, 2014 – 2025)
- Film Coating
- Flow Aids
- Taste Masking and Sweeteners
- Sugars & Polyols (Solid)
- Sugars & Polyols (Liquid)
- Modified Release
South East Asia Nutraceutical Excipients Regional Outlook (Revenue, USD Million, 2014 – 2025)
- New Zealand
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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