North America Nutraceutical Market – Growth, Trends and Forecasts (2016 - 2021)
The North America nutraceutical market is the largest market in the global nutraceutical industry. The current market size is USD XX million, which is expected to register a CAGR of 6.9% during the forecast period of 2017-2022.
Nutraceuticals are used in various functional beverages, functional foods, and dietary supplement products. Personal care and cosmetics are the other fields where nutraceuticals are high in demand. Growing consumer awareness and changing industrial trends of food fortification are a few major factors for the nutraceutical market growth.
By the type of nutraceutical, phytochemicals and plant extracts are the top categories, with a CAGR of 4.4%, followed by probiotics (XX%), prebiotics(XX%), omega-3 & structured lipids (XX%), fibers & specialty carbohydrates (XX%), protein (XX%), vitamins (XX%) and minerals (XX%). By application, the functional food is the largest segment, which utilizes almost 70% of the nutraceutical products in the North American market, followed by functional beverage (XX%), dietary supplements (XX%) and others (XX%).
Algal-based omega-3 fatty acid is the new trend in the nutraceutical market; it is extracted from animal sources, like fish; however, the world is moving towards a sustainable source of omega3 from algae. Omega-3 is one of the most consuming types of nutraceutical, owing to its association with the prevention and treatment of diseases, such as thrombosis, atherosclerosis, cancers, arthritis, etc. Many global players in functional food and beverages are now trying to invest in omega-3 fatty acid production and supply in the global market. As per market estimation, the algal-based omega-3 fatty acid market will reach USD 4.6 billion, by 2022.
The North America nutraceutical market is highly competitive, with some market giants, such as DuPont, Archer Daniels Midland Company (U.S.), Royal DSM, Cargill, Inc., and BASF SE. These large players are competing hard to increase their market through various market strategies, such as product innovation, technological advancement, partnership, mergers, acquisition, market expansion and categories expansion.
Key Deliverables in the Study
Analysis of the North America nutraceutical market, with region-specific assessments and competition analysis on North American and country scale.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on North American and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors at, both, North American and country level.
A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook