Global Nutraceutical CDMO Market to Reach US$ 100.6 Bn by 2034; Anticipated to Experience CAGR of 8.1% during 2024 – 2034
Wilmington, Delaware, May 07, 2024 (GLOBE NEWSWIRE) — Global nutraceutical CDMO market represents a crucial sector within the broader nutraceutical industry, providing essential services for the development, formulation, manufacturing, and packaging of nutraceutical products. Nutraceuticals encompass a wide range of products derived from food sources with purported health benefits, including dietary supplements, functional foods, and beverages. The market is driven by factors such as increasing consumer awareness of health and wellness, rising demand for personalized nutrition, advancements in research and development, and expanding regulatory approvals.
Nutraceutical CDMOs play a pivotal role in supporting nutraceutical companies by offering expertise in formulation development, ingredient sourcing, regulatory compliance, and manufacturing capabilities. These specialized service providers cater to a diverse clientele, including nutraceutical brands, dietary supplement manufacturers, food and beverage companies, and pharmaceutical firms seeking to diversify their product portfolios. With the growing demand for innovative and high-quality nutraceutical products, the nutraceutical CDMO market continues to expand and evolve, driving innovation and meeting the changing needs of consumers worldwide.
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Global Nutraceutical CDMO Market: Key Dynamics
Increasing Demand for Health and Wellness Products: Rising health consciousness among consumers, coupled with a growing aging population globally, has led to an increased demand for nutraceutical products. Consumers are seeking natural and organic solutions to improve their health and prevent chronic diseases, driving the demand for innovative nutraceutical formulations.
Growing Consumer Preference for Customized Products: Consumers are increasingly seeking personalized and tailored nutraceutical products to meet their specific health needs and preferences. Nutraceutical CDMOs offer custom formulation services, allowing companies to create unique products targeting specific health concerns or demographic groups.
Based on the Dosage Form Segment, Which is the Fastest Growing Segment in the Global Nutraceutical CDMO Market During The Forecast Period?
The powder segment by dosage form is anticipated to be the fastest-growing segment in the global market during the forecast period. This growth is driven by several factors, including the increasing popularity of powdered nutraceutical products due to their convenience, versatility, and ease of consumption. Powders offer advantages such as customizable dosing, enhanced solubility, and improved bioavailability of active ingredients, making them preferred choices for various nutraceutical formulations. Additionally, powdered products cater to a wide range of consumer preferences, including those seeking vegetarian, vegan, or allergen-free options.
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Nutraceutical CDMOs specializing in powder manufacturing leverage advanced processing technologies and expertise in formulation development to produce high-quality powdered products that meet regulatory standards and consumer demands. As consumers continue to seek convenient and effective ways to improve their health and well-being, powder segment is expected to drive significant growth in the nutraceutical CDMO market.
Which Services Segment Dominated the Global Nutraceutical CDMO Market in 2023?
The manufacturing and packaging segment by services dominated the global nutraceutical CDMO market in 2023. The dominance can be attributed to the critical role played by CDMOs in providing end-to-end manufacturing and packaging solutions for nutraceutical products. Nutraceutical companies often rely on CDMOs to leverage their expertise in manufacturing processes, adherence to quality standards, and compliance with regulatory requirements. These CDMOs offer specialized capabilities in the production of various dosage forms, including tablets, capsules, powders, liquids, and gummies, tailored to meet specific product requirements and consumer preferences.
Moreover, efficient packaging solutions provided by CDMOs ensure product integrity, stability, and shelf appeal, enhancing the overall market competitiveness of nutraceutical products. As demand for high-quality nutraceuticals continues to rise globally, the manufacturing and packaging segment is expected to maintain its dominance in the nutraceutical CDMO market.
Based on the Company Size Segment, Which is the Second Fastest Growing Segment in the Global Nutraceutical CDMO Market During The Forecast Period?
Small sized companies are anticipated to be the second fastest-growing segment in the global nutraceutical CDMO market during the forecast period. Small companies often lack the resources and infrastructure for in-house product development and manufacturing, making them reliant on CDMOs for outsourcing services. Additionally, as consumer demand for innovative and niche nutraceutical products grows, small companies seek specialized expertise and manufacturing capabilities offered by CDMOs to bring their products to market efficiently.
Furthermore, the flexibility and scalability provided by CDMOs enable small companies to minimize upfront investment and production costs, allowing them to focus on product innovation and market expansion. As a result, small companies’ segment is poised to be the second fastest-growing segment in the nutraceutical CDMO market.
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Based on Region Segment, Which Region had the Highest Share in the Nutraceutical CDMO Market in 2023?
North America secured the highest share in the nutraceutical CDMO market in 2023. The region boasts a mature nutraceutical industry supported by robust research and development infrastructure, a strong regulatory framework, and a well-established market for health and wellness products. Additionally, a growing aging population, increasing health consciousness, and rising disposable incomes have fueled demand for nutraceutical products in the region.
Moreover, strategic collaborations between nutraceutical companies and CDMOs, along with technological advancements in manufacturing processes, have further propelled market growth. With a diverse range of nutraceutical formulations catering to various health needs and consumer preferences, North America continues to lead the global nutraceutical CDMO market, offering lucrative opportunities for industry players and investors alike.
Global Nutraceutical CDMO Market Key Competitors:
- Aenova Group
- Akums Drugs and Pharmaceutical Ltd.
- Atlantic Essential Products, Inc.
- B&D Nutritional Ingredients
- BASF SE
- Catalent
- Glanbia Nutritionals
- Iprona AG
- Lonza
- Nature’s Products, Inc.
- Nutraceuticals International Group
- NutraScience Labs
- Nutrilo GmbH
- Pharmavite LLC
- PLT Health Solutions
- ProTec Nutra Ltd.
- Recipharm AB
- Sirio Pharma
- Softigel (A division of Procaps Group)
- Vitakem Nutraceutical Inc.
- Other Industry Participants
Global Nutraceutical CDMO Market
By Dosage Form
- Tablets & Capsules
- Powder
- Soft gel
- Liquid Formulations
- Others
By Services
- Product Formulation and Development
- Manufacturing and Packaging
- Research and Development
- Analytical and Testing Services
- Regulatory Support
By Company Size
- Small Companies
- Mid-sized Companies
- Large Companies
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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