A method of manufacturing a flowable and dispersible powder includes solubilizing a lipophilic substance in a terpene to form a mixture and treating the mixture to form a nanoemulsion dispersed in an aqueous solution. The aqueous solution includes at least one functional excipient. The nanoemulsion is then spray dried, thereby evaporating first the aqueous portion and then the terpene to form a dry powder formed from solid particles comprising the lipophilic substance.