North America Nutraceuticals Market to 2027 - Regional Analysis and Forecasts by Type; Application

The North America nutraceuticals market is accounted to US$ 93,520.1 Mn in 2018 and is expected to grow at a CAGR of 7.2% during the forecast period 2019 - 2027, to account to US$ 173,709.7 Mn by 2027.

Nutraceuticals are medically or nutritionally active food. This functional food is enriched with probiotic and prebiotic ingredients and are consumed for maintaining the gut health. It helps in reducing the risk of diabetes and cardiovascular diseases. It also provides physiological benefits. The North America nutraceuticals market is segmented on the basis of type as - functional food, functional beverages, dietary supplements, personal care and pharmaceuticals. The functional beverages segment in the North America nutraceuticals market is estimated to garner the fastest-growing segment in the market. Functional beverages are known for their benefits such as joint health, energy-boosters, better heart health, help in improving immunology and digestion. The functional beverages industry is targeting on different health-related concerns among the people. The application of Nutraceuticals on functional beverages has proven to enhance the sharpness of the mind and improve memory. Other benefits of the introduction of Nutraceuticals in functional beverages are weight loss, beauty enhancements and energy boosters.

The North America nutraceuticals market is segmented based on application as general wellness, beauty and anti-aging, weight management, digestive health, sports and energy. The general wellness segment holds the largest share in the North America nutraceuticals market, while the sports and energy segment is estimated to garner the fastest-growing segment. The use of Nutraceuticals by the athletes and sportsmen is being increased swiftly due to the rising awareness of the nutritional benefits and the acceptance of Nutraceuticals supplements. Branched-chain amino acids (BCAA) are the most widely consumed Nutraceuticals supplement among the athletes. The main function of BCAAs is the stimulation of protein synthesis, which promotes muscle building.

North America nutraceuticals market is segmented based on country as - US, Canada, and Mexico. The US holds the largest share in the North America nutraceuticals market, which is followed by Canada. The rising awareness of the health benefits attributed to the Nutraceuticals has led to an upsurge in the market in Canada. The consumers in Canada are being educated about the health benefits of Nutraceuticals, coupled with the increasing demand for functional foods. The implementation of Nutraceuticals in personal care and cosmetic products has been another contributing factor for the expansion of the Nutraceuticals market in Canada.

Some of the players present in North America nutraceuticals market are Amway, The Nature’s Bounty Co., Herbalife International of America, Inc., General Mills, Inc., Kellogg Co., Abbott, Nestle SA, Danone S.A., GlaxoSmithKline plc., and Helion Nutraceuticals, LLC. amongst the others.

The overall North America nutraceuticals market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America nutraceuticals market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America nutraceuticals market.

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