What Has Driven the Growth of the Nutraceutical Contract Manufacturing Services Market in Recent Years?
The nutraceutical contract manufacturing services market has seen considerable growth due to a variety of factors.
•The market size for contract manufacturing services in the nutraceutical sector has experienced swift expansion in the recent past. The projected size for 2024 is $174.09 billion, which is estimated to surge to $195.76 billion by 2025, demonstrating a compounded annual growth rate of 12.4%.
The reasons behind this significant growth in the historical period include enhanced consumer health consciousness, an increase in preventive healthcare measures, adherence to regulatory guidelines, a surge in consumer desire for personalization, and the growth of online retail platforms.
What is the Market Size Forecast for the Nutraceutical Contract Manufacturing Services Market?
The nutraceutical contract manufacturing services market is expected to maintain its strong growth trajectory in upcoming years.
• The market for nutraceutical contract manufacturing services is anticipated to witness a swift expansion in the upcoming years. It is projected to escalate to a value of $308.02 billion by 2029, with a 12.0% compound annual growth rate (CAGR).
Factors such as investments in research and development, an increasing aged population with a focus on healthy aging, the requirement for products with clean labels, and digital evolution, significantly contributes to the predicted growth during the forecast period. Key trends to keep an eye on during this period include emphasis on immune health, vegan and plant-based formulations, commodities derived from CBD and hemp, integration of e-commerce, as well as AI and data-centered formulations.
What Factors Are Driving Growth In The Nutraceutical Contract Manufacturing Services Market?
The anticipated increase in chronic diseases is predicted to spur the expansion of the nutraceutical contract manufacturing services industry. Chronic diseases are health conditions or illnesses that last for at least three months or more and may worsen with passing time. The role of contract manufacturing in the nutraceutical industry is to allow brands to expedite product development and production of high-quality, personalized nutraceutical products that are potential solutions for managing and preventing chronic diseases. For example, the Australian Institute of Health and Welfare, a government agency based in Australia, reported in June 2024 that the mortality rate due to chronic diseases increased from 459 per 100,000 individuals in 2021 to 490 per 100,000 individuals in 2022. Consequently, the uptick in chronic diseases is anticipated to stimulate the nutraceutical contract manufacturing services market's expansion.
What Are The Main Segments Of The Global Nutraceutical Contract Manufacturing Services Market?
The nutraceutical contract manufacturing services market covered in this report is segmented –
1) By Product: Dietary Supplements, Functional Food And Beverages
2) By Dosage Form: Tablets, Capsules, Liquid Oral, Powder In Sachet Or Jar, Gummies, Energy Bars, Other Forms
3) By End User: Big Pharmaceutical Companies, Small And Medium Sized Pharmaceutical Companies, Generic Pharmaceutical Companies, Other End Users
Subsegments:
1) By Dietary Supplements: Vitamins And Minerals, Herbal Supplements, Protein Supplements, Omega Fatty Acids, Probiotics, Other Dietary Supplements
2) By Functional Food And Beverages: Functional Beverages, Functional Foods, Nutrient-Enriched Foods, Other Functional Products
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What Emerging Trends Are Influencing The Growth Of The Nutraceutical Contract Manufacturing Services Market?
The trend of establishing new nutraceutical contract manufacturing facilities is gaining traction in the nutraceutical contract manufacturing services sector. Evonik Industries AG, a German specialty chemicals company that also offers nutraceutical contract manufacturing services, underscored this trend when it launched a new GMP facility in March 2023. The facility will focus on the manufacturing of lipids intended for advanced pharmaceutical drug delivery applications. Similarly, in June 2022, Star Combo Pharma, an Austrian-based firm known for providing nutraceutical contract manufacturing services, invested $7.5 million into the creation of a new facility aimed at doubling its production capacity.
Who Are the Key Players in the Nutraceutical Contract Manufacturing Services Market?
Major companies operating in the nutraceutical contract manufacturing services market include:
• Nutra Manufacturing Inc.
• Royal DSM
• Lonza Group AG
• Glanbia Plc.
• Herbalife International of America Inc.
• Catalent Inc.
• Ashland Global Holdings Inc.
• American Health Foundations Inc.
• Nutraceutical Corporation
• Robinson Pharma Inc.
• Gemini Pharmaceuticals Inc.
• Nutrivo
• Menadiona
• NutraLab Canada Ltd.
• Martínez Nieto
• Rain Nutrience Ltd.
• Biovencer Healthcare Pvt Ltd.
• NutraScience Labs
• ABH Pharma Inc.
• NutraPak USA
• Biotrex Nutraceuticals
• Nutrafill LLC
• Quest Nutra Pharma
• EnzymeWorks Inc.
• Vestanutra
What Is The Most Dominant Region In The Nutraceutical Contract Manufacturing Services Market?
Asia-Pacific was the largest region in the nutraceutical contract manufacturing services market in 2024. The regions covered in the nutraceutical contract manufacturing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
