The USA nutraceuticals market is accounted to US$ 73,986.0 Mn in 2018 and is expected to grow at a CAGR of 7.1% during the forecast period 2019 – 2027, to account to US$ 138,047.1 Mn by 2027.
Growth in the demand for functional food and beverages owing to increasing health consciousness amongst consumers has bolstered the growth of USA nutraceuticals market. Nutraceuticals are referred to as those food products which provide medical and health benefits beyond the basic nutritional value of food. These products are available in different forms such as functional food, functional beverages, dietary supplements, personal care, and pharmaceuticals. The nutraceutical products are mainly composed of probiotics and prebiotics, omega 3, fatty acids, vitamins, proteins, minerals, fibers, structured lipids, and amino acids among others.
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Nutraceutical ingredients such as vitamins and minerals are added in the functional food and beverages to enhance the nutritional value. Functional foods have a positive effect on health beyond basic nutrition and also promote optimal health. Functional food and beverages are enriched with nutritions that are not provided naturally. The increasing awareness related to the health benefits associated with the consumption of nutraceutical products supplements the growth of the USA nutraceuticals market.
The United States is expected to account for the largest share of the USA Nutraceutical market in 2018, followed by Canada. Some of the key players in the nutraceutical market include Abbott, Amway, Chobani, LLC., General Mills, Inc, Helion Nutraceuticals, LLC, Herbalife International of America, Inc, Kellogg Co., Matsun Nutrition, The Nature’s Bounty Co., and Valensa International among others among others.
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Based on type, the functional food segment holds the largest share in the nutraceutical market. Functional foods are the foods which boosts health and performance of an individual by the introduction of ingredients which are generally absent in regular food diets. Nutraceuticals helps to improve and maintainthe bone strength, dental health, the digestive system, cardiovascular system, immune system and the digestive system.
Nutrition plays an essential role in an athlete’s performance. Vitamins and minerals are crucial for a variety of activities in the body, such as turning food into energy and keeping bones healthy. Nutraceutical products offers an adequate amount of nutrition required to maintain a healthy lifestyle. This is translating into increasing demand for nutraceutical products in sports nutrition.
The USA nutraceuticals market by type has been categorized in functional food, functional beverages, dietary supplements, personal care and pharmaceuticals. The demand for functional food is rising due to the growing health consciousness among the people. They enhance the performance of body by the introduction of ingredients absent in many food items. People are inclining more towards functional food owing to their medicinal importance, and the nutritional aspects which are bound to expand the nutraceutical market in the coming years.
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Mergers & acquisition, strategy and business planning and new product development were observed as the most adopted strategies in USA Nutraceuticals market. Few of the recent developments in the USA Nutraceuticals market are listed below:
2019: Amway India launched new nutraceutical product, DHA yummies under Nutrilite brand
2019: The Nature’s Bounty Co. launched new nutraceutical products, which includes Nature’s Bounty® Sleep3 and Nature’s Bounty® Elderberry Gummies, and Nature’s Bounty® Anxiety & Stress Relief
2018: General Mills, Inc. acquired pet food manufacturer, Blue Buffalo Pet Products, Inc. which helped them to increase its portfolio and market presence
2018: Abbott launched Ensure Max Protein product through which it expanded its nutraceuticals product line.
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This post was originally published on Food and Beverage Herald