Comprehensive Analysis of the Nutraceutical Contract Manufacturing Industry

Nutraceutical Contract Manufacturing Services Industry Overview

The global nutraceutical contract manufacturing services market size was estimated at USD 133.34 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.04% from 2023 to 2030. With increasing benefits from CMOs in the nutraceutical sector, such as lower overhead costs, better shipping options, and thorough lab testing, the market is expected to expand over the forecast period. Furthermore, the market is encouraged by the improved reliability and affordable production of CMOs. For instance, based on information offered on the website by Akums Drugs & Pharmaceuticals Ltd., one of the notable third-party contract manufacturing units in India, growth with minimal investment, effectiveness in expense and managerial staff, and operational & efficiency enhancement are benefits of working with third-party contract manufacturers.Factors such as the increasing health consciousness among consumers, the availability of advanced technologies, and the rising number of contract manufacturing companies in various significant regions are expected to drive the growth of the overall nutraceutical contract manufacturing market.

Gather more insights about the market drivers, restrains and growth of the Nutraceutical Contract Manufacturing Services Market

The COVID-19 pandemic significantly disrupted raw material supplies, which coincided with the massive demands for dietary supplements positioned to support the immune system. For instance, according to an article published by the National Library of Medicine in December 2021, the sales of dietary supplements in the U.S. increased by 44% in the six weeks preceding 5th April 2020. The same source stated that the sales of multivitamins spiked by 51% in March 2020, reaching 120 billion units in the U.S. alone. Similarly, the sales of vitamins increased by 63% in the U.K. and around 40% to 60% in France during the pandemic, compared to 2019.

Additionally, the development of region-specific pharmaceutical and food industries is expected to further fuel the growth of the nutraceutical contract manufacturing services market. For instance, in June 2022, Star Combo Pharma, a manufacturer and distributor of health, nutritional, and beauty products, announced the opening of its new 7,000-square-meter manufacturing facility in New South Wales, Australia. The facility will provide 30,000 square meters of total manufacturing floor space and has been procured for a total bid of USD 7.5 billion.

Moreover, nutraceutical contract manufacturers have been expanding their service offerings to meet the evolving needs of the industry and their clients. Increasing collaborations between nutraceutical companies and contract manufacturers have led to strategic partnerships that foster innovation, improve operational efficiency, and drive growth. Some contract manufacturers have established dedicated R&D facilities to support their clients' product innovation efforts. They invest in R&D and ingredient testing to stay at the forefront of nutraceutical advancements. By offering R&D support, contract manufacturers enable their clients to leverage their expertise and bring new, science-backed products to the market.

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Nutraceutical Contract Manufacturing Services Market Segmentation

Key Companies profiled:

• Ashland

• Glanbia plc

• Herbalife International of America, Inc

• Biotrex Nutraceuticals

• Martínez Nieto

• Menadiona

• NUTRASCIENCE LABS

• NUTRIVO

• American Health Foundations, Inc.

• Gemini Pharmaceuticals

• Biovencer Healthcare Pvt Ltd

• Rain Nutrience

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