The Nutraceutical Contract Manufacturing Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Nutraceutical Contract Manufacturing Services Global Market Report 2024, The nutraceutical contract manufacturing services market size has grown rapidly in recent years. It will grow from $154.67 billion in 2023 to $174.09 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to consumer health awareness, rise in preventive healthcare, regulatory compliance, consumer demand for customization, growth of e-commerce platforms.
The nutraceutical contract manufacturing services market size is expected to see rapid growth in the next few years. It will grow to $281.76 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to research and development investments, aging population and healthy aging, demand for clean label products, digital transformation. Major trends in the forecast period include focus on immune health, plant-based and vegan formulations, cbd and hemp-derived products, e-commerce integration, ai and data-driven formulations.
The rising prevalence of chronic diseases is expected to drive the growth of the nutraceutical contract manufacturing services market going forward. Chronic disease refers to a health condition or disease that is long-lasting in its effects, usually lasting for three months or longer, and may get worse over time. Nutraceutical contract manufacturing provides nutraceutical brands with accelerated product development and production timelines for high-quality, customized nutraceutical products that can help manage and prevent chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based international resource for the scientific research community, the number of individuals aged 50 years and older who have one or more chronic illnesses and is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Furthermore, in April 2022, according to statistics published in the National Council on Aging’s report, a US-based charitable organization for older Americans with service providers and policymakers, approximately 80% of persons aged 65 and older will have at least one chronic ailment, with 68% having two or more in the United States. Therefore, the rising prevalence of chronic diseases is expected to propel the growth of the nutraceutical contract manufacturing services market.
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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
Investments in establishing new nutraceutical contract manufacturing facilities are a key trend gaining popularity in the nutraceutical contract manufacturing services market. For instance, in March 2023, Evonik Industries AG, a Germany-based specialty chemicals company that provides nutraceutical contract manufacturing services, established a new GMP facility to manufacture lipids for advanced pharmaceutical drug delivery applications. Furthermore, in June 2022, Star Combo Pharma, an Austria-based company that provides nutraceutical contract manufacturing services, established a new facility with an investment of $7.5 million to double its manufacturing output.
The nutraceutical contract manufacturing services market report table of contents includes:
1. Executive Summary
2.Nutraceutical Contract Manufacturing Services Market Characteristics
3. Nutraceutical Contract Manufacturing Services Market Trends And Strategies
4.Nutraceutical Contract Manufacturing Services
5. Nutraceutical Contract Manufacturing Services Market Size And Growth
6.Nutraceutical Contract Manufacturing Services Segmentation
7. Nutraceutical Contract Manufacturing Services Regional And Country Analysis
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27.Nutraceutical Contract Manufacturing Services Competitive Landscape And Company Profiles
28.Nutraceutical Contract Manufacturing Services Key Mergers And Acquisitions
29. Nutraceutical Contract Manufacturing Services Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nutra Manufacturing Inc.
- Royal DSM
- Lonza Group AG
- Glanbia Plc.
- Herbalife International of America Inc.
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