Nutraceutical Contract Manufacturing Services Market Size, Share & Trends Analysis Report By Dosage Form (Tablets, Capsules, Liquid Oral, Powder In Sachet /Jar, Gummies, Energy Bars), By Product, By Region And Segment Forecasts, 2023 - 2030

Nutraceutical Contract Manufacturing Services Market Size, Share & Trends Analysis Report By Dosage Form (Tablets, Capsules, Liquid Oral, Powder In Sachet /Jar, Gummies, Energy Bars), By Product, By Region And Segment Forecasts, 2023 - 2030

Nutraceutical Contract Manufacturing Services Market Growth & Trends

The global nutraceutical contract manufacturing services market size is expected to reach USD 329.83 billion by 2030 expanding at a CAGR of 12.04% from 2023 to 2030, according to a new report by Grand View Research, Inc. Contract manufacturing industry is expected to experience rapid growth due to the increasing demand fornutraceutical products. Contract manufacturing involves outsourcing manufacturing processes to an external partner that specializes in the production of a specific product. This partner will oversee the entire process, from sourcing raw materials to the final packaging and delivery of the finished product. Adopting this approach can help companies reduce costs and increase efficiency while allowing them to focus on their core competencies. Additionally, contract manufacturing provides smaller companies with access to the latest technologies and production methods, which is an important factor driving the growth of the market.

The growing awareness of the health benefits of natural ingredients and the increasing focus on preventive healthcare, coupled with the increasing prevalence of chronic diseases, such as diabetes and heart disease, is fueling the demand for nutraceuticals. This, in turn, is driving the growth of the nutraceutical contract manufacturing services market. Contract manufacturers are well-equipped with the latest technologies and processes, enabling them to produce nutraceuticals with higher quality, consistency, and cost-effectiveness. Moreover, contract manufacturing offers manufacturers the flexibility to produce nutraceuticals in small batches or in large quantities, depending on the demand.

In addition to investment and acquisitions, companies are introducing nutraceutical contract manufacturing services to meet the growing demand for tailored and personalized dietary supplements. For instance, in February 2023, Activ’Inside, a French provider of botanical ingredients for dietary supplements, invested USD 13 million to construct a contract manufacturing facility in France, in order to provide customers with a comprehensive service ranging from scientifically-validated ingredients to personalized dietary supplements.

Nutraceutical Contract Manufacturing Services Market Report Highlights

• Based on dosage form, the market is segmented into– tablets, capsules, liquid oral, powder in sachet/jar, gummies, energy bars, and other suitable forms (diskettes, etc.)
• Tablet contributed to the largest revenue share of over 20% of the market in 2022. Tablets offer advantages such as ease of portability, convenience in storage, ease of swallowing, and accurate dosage. Furthermore, the cost-effectiveness of tablets makes them an attractive option for nutraceutical contract manufacturing services.
• Capsule contributed to the second-largest revenue share of over 20% of the market in 2022, due to its widespread adoption of nutraceutical products for several applications.
• Based on product, the market is segmented into two types - Dietary Supplements, and Functional Food, and Beverages
• In 2022, the Functional Food, and Beverages category contributed to the greatest revenue share of the market. Functional foods and beverages are fortified with essential nutrients, such as vitamins, minerals, proteins, and other bioactive components. The growing demand for functional foods and beverages, due to their health benefits, is expected to drive market growth.
• Asia Pacific dominated the market and accounted for the largest revenue share of over 40% in 2022 due to its strong demand from various countries such as China, India, Japan, South Korea, and Australia. Factors such as the increasing awareness of health consciousness among consumers, the availability of advanced technologies, and the rising number of contract manufacturing companies in the region are expected to drive the growth of the nutraceutical contract manufacturing services market.
• The nutraceutical contract manufacturing services market is highly competitive, with multiple companies implementing strategic initiatives. Such as acquisition, collaboration, and expansion in order to meet the growing demand for nutraceutical products. For instance, in September 2022, Biofarma Group, acquired Nutraskills, a French firm that specializes in the R&D, packaging, and manufacture of food supplements for third parties.

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