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.

The nutraceuticals market is experiencing rapid growth, driven by increasing consumer focus on health and wellness. Nutraceuticals are foods that offer medical or health benefits beyond basic nutrition. These functional foods, often enriched with probiotic and prebiotic ingredients, are particularly popular for maintaining gut health.

Consumers are increasingly incorporating nutraceuticals into their daily diets due to rising disposable incomes and changing lifestyles. There's a growing trend towards preventative healthcare, with many preferring nutraceuticals over traditional pharmaceutical drugs to mitigate health risks. Beyond gut health, these products are also valued for their potential to reduce the risk of conditions like diabetes and cardiovascular diseases, and for providing other physiological benefits.

Nutraceuticals encompass a broad range of products, including:

• Functional foods
• Functional beverages
• Dietary supplements
• Personal care and pharmaceuticals

Their applications are diverse, spanning areas such as general wellness, beauty and anti-aging, weight management, digestive health, and sports and energy.

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NORTH AMERICA NUTRACEUTICALS MARKET SEGMENTATION
North America nutraceuticals market, by Type

• Functional Food
• Functional Beverages
• Dietary supplements
• Personal care and Pharmaceuticals

North America nutraceuticals market, by Application

• General Wellness
• Beauty and Anti-Aging
• Weight Management
• Digestive Health
• Sports and Energy

North America nutraceuticals market Company Profiles

• Amway
• The Nature’s Bounty Co.
• Herbalife International of America, Inc.
• General Mills, Inc.
• Kellogg Co.
• Abbott
• Nestle SA
• Danone S.A.
• GlaxoSmithKline plc.
• Helion Nutraceuticals, LLC.

North America nutraceuticals market Insights   

Growth in the demand for functional food and beverages owing to increasing health consciousness amongst consumers

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 enhanced with nutrition that are not provided naturally. For example, calcium is added to fruit juices, and milk is fortified with vitamin D. The children are particularly facing health problems due to nutrient deficiencies. Many children and teenagers don’t meet daily nutrient requirements that are necessary to maintain a healthy lifestyle. Functional foods are important sources of nutrients for kids, especially for iron, zinc, and B vitamins. Rising awareness regarding nutrient deficiencies such as iodine, vitamin A & D, and myopia is expected to lead to the growth of functional foods and beverages during the forecast period.        

Type Insights

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 food segment in the North America nutraceuticals market is estimated to hold a leading share in the market. Nutraceuticals have helped people realize that food not only provides us with nutrition but also has medicinal importance that can help fight against chronic diseases. Functional foods are food that provides us with enhanced health and performance by the introduction of ingredients that they lack naturally or the modification of the ingredients that are present. Nutraceuticals have helped to improve and maintain functional aspects of the body such as the bone strength, dental health, the digestive system, cardiovascular system, immune system and the digestive system. The rich nutritional profile and the various benefits such as antioxidants, anti-aging, muscle growth and others attribute have favored the North America nutraceuticals market to a large extend. In addition, increasing demand for nutritional and fortified food products has driven the growth of market.  

Application Insights

The North America nutraceuticals market is segmented on the basis of application as general wellness, beauty and anti-aging, weight management, digestive health, sports and energy. The general wellness segment accounts for the largest share in the North America nutraceuticals market, while the sports and energy segment also contributes a significant share in the market. There has been a favorable growth in the application of Nutraceuticals in the healthcare and general wellness sector. Nutraceuticals are used in functional foods that help one provide with the necessary vitamins, carbohydrates and minerals for a perfectly balanced diet.

The common forms of functional foods that contain Nutraceuticals are cereals, fermented food and legumes. The Nutraceuticals may be present in the form of rice, corn, sorghum, buckwheat and many others that are helpful in eliminating the risk of coronary heart diseases, lowering of blood pressure and also in tumor incidence. The introduction of Nutraceuticals has proven to be of great help in disease management. Researchers have claimed that the introduction of Nutraceuticals has proven to be of significant help in the treatment of disorders like cancer, blood pressure, insomnia, coronary heart disease, depression, cough and cold and other diseases that need special care.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights