North America Nutraceutical Market - Forecast(2023 - 2028)

North America Nutraceutical Market size is estimated at $149 billion in 2020, projected to grow at a CAGR of 7.8% during the forecast period 2021-2026. Nutraceutical is an ingredient that is a part of food supplements, dietary supplements which provides health benefits, encompassing prevention and treatment of disease. The most powerful nutraceutical form against heart artery hardening is omega-3 fatty acid. Functional foods are in high demand as they are thought to have outstanding health benefits owing to their nutrient content, which influences the growth of nutraceuticals. Natural herbs and antioxidants are sources of nutraceutical ingredients that protect the skin from a variety of diseases and infections. As a result, the market for nutraceutical ingredients in personal care goods is increasingly rising. Functional foods are in high demand owing to their nutrient content, which is thought to provide remarkable health advantages. The market for nutraceuticals is likely to develop as a result of this. For instance, the addition of machine learning and the Industrial IoT to food and North America Nutraceutical, as well as customization options, would increase the equipment's production capacity. Increasing consumer understanding of diseases such as diabetes, obesity, and heart attacks is prompting consumers to choose healthier drinks that are low in fat and sugar. This factor would have a positive impact on the demand for North America Nutraceutical industry.

The report: “North America Nutraceutical Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the North America Nutraceutical Market.

By Product Type: Functional Beverages - Energy Drink, Sports Drink, Fortified Juice, Dairy and Dairy Alternative Beverage and Others, Functional Food - Cereal, Bakery and Confectionary, Dairy, Snack and Others and Dietary Supplements - Vitamins, Minerals, Botanicals, Enzyme, Fatty Acids, Proteins and Others.

By Application: Weight Management, General Wellness, Beauty and Anti-Aging, Digestive Health, Sports and Energy and Others.

By Country: North America (U.S, Canada and Mexico).

Based on Product Type, Functional Beverages Segment accounted for the largest revenue market share in 2020. Owing to the growing tendency towards active eating and the growth of sports enthusiasts, nutraceutical beverages such as juices, energy drinks, sports drinks, ready-to-drink coffee, and tea-based beverages are in high demand. Protein-based drinks are also seeing increased consumption as the market for these beverages among consumers who live a healthier lifestyle grows. Women's wellbeing, beauty from within, immunity, energy, heart health, and cognitive function are some of the current health issues that nutraceutical beverages are addressing. Consumers also want drinks with antioxidants and herbs infusions, as well as beverages that have the minerals and vitamins they don't get from their diet driving the segment growth. Sports drinks are becoming increasingly popular among athletes and anyone who engage in high-intensity physical activity. Owing to their high purchasing power, willingness to pay for health products, keen interest in sports, and increased propensity towards fitness, the millennial age is driving the sports drink market dramatically. Maltodextrins are used as an energy source in many nutraceutical drinks. They have a low osmolality, are easy to digest carbohydrate sources, and are used to round out the taste profile of beverages thereby, driving the North America Nutraceutical Industry. The functional Food segment is anticipated to grow with the fastest CAGR of 8.4% in the forecast period 2021-2026. Functional foods help lose weight and reduce your risk of non-communicable diseases by enhancing metabolism, optimizing nutrition absorption, and aiding digestion. The preference of consumers for lower sugar intake is expected to have a positive impact on development. Nutraceuticals Functional Food supplements in Human Health and Disease Prevention investigates the advantages, effectiveness, and performance of properly formulated nutraceuticals and functional foods in human health and disease prevention which aids to the segment growth.

Based on Application, General Wellness Segment accounted for the largest revenue market share in 2020. Nutraceuticals are ingredients in food supplements that help consumers get the vitamins, carbs, and minerals they need for a well-balanced diet. Cereals, fermented foods, and legumes are instances of functional foods that include nutraceuticals. It can be found in rice, corn, sorghum, buckwheat, and a variety of other food supplements that can help reduce the risk of coronary heart disease, blood pressure, and tumour incidence. Nutraceuticals, according to researchers, have proven to be beneficial in the treatment of problems such as cancer, high blood pressure, sleeplessness, coronary heart disease, and other ailments that require special attention. The rising use of nutritional supplements containing vitamins, minerals, carbohydrates, and other vital nutrients boosts and strengthens a person's immunological system. Nutraceuticals' rise in the healthcare and general wellness sectors has been aided by all of these causes thereby, driving the North America Nutraceutical Industry. Weight Management segment is anticipated to grow with the fastest CAGR of 8.1% in the forecast period 2021-2026. Owing to demanding work schedules and changing lifestyles, the working population around the world is struggling to meet daily nutrient requirements which is driving the segment growth.

Based on Country, United States North America Nutraceutical Market accounted for the 57% revenue share in 2020. Many internationally renowned beverage manufacturers, such as PepsiCo and Coca-Cola, are headquartered in the country, which is led by the United States. The growing obesity crisis in the United States, as well as government-imposed sugar taxes, are serving as both restrictions and drivers for CSDs and goods made with low-calorie non-nutritive sweeteners, food supplements, dietary supplements accelerating North America Nutraceutical Industry expansion across the region. Forwarding incorporation is being used by manufacturers in this country to increase their involvement in the value chain. Many American companies are attempting to broaden their product lines and incorporate a higher number of natural substances into their offerings. Manufacturers have begun to create software that monitor customer behavior in order to improve their goods. For instance, in 2019, Medtate launched a new product called FemVita, which is formulated with nutraceutical food supplements ingredients including probiotics and vitamins to help improve nails, teeth and immune system. This shift in strategy is largely due to consumer pressure in the United States, where many people are health-conscious and demand certain ingredients in the products thereyby driving the regional expansion. Canada is predicted to be the fastest growing region during the forecast period 2021- 2026 as the manufacturers in this region are focusing on developing the benchmark product in the range of North America Nutraceutical for increasing shelf life & productivity which propel the North America Nutraceutical Market.

Ready-to-drink beverages have become popular among consumers due to their busy lifestyles. The rise of the low-calorie ready-to-drink carbonated drinks market in the food industry is rising due to rising demand for clean-label, gluten-free, low-calorie food supplements and low-carb items. For instance, Diageo introduced a low-calorie Seltzer under the Smirnoff brand in 2017. Owing to widespread understanding of the benefits of dietary supplements, fibres and minerals in overall health and physical maintenance, demand for these nutrients is expected to rise in North America. Fibers promote simpler bowel movements while also cleansing internal organs, whereas minerals aid in the retention and passage of nutrients into cells, supporting blood coagulation and other bodily activities. Single-serving sizes of fortified food are available. This is why functional snack bars are in such high demand. Furthermore, dietary supplements are also being delivered in various forms such as pudding-like squeeze packets for omega 3 fish oil and joint juice for glucosamine, which is fueling market development. Furthermore, government legislation requiring certain sanitary conditions in manufacturing facilities have increased demand for specialized North America Nutraceutical.

The North America Nutraceutical Market's growth is hampered by product-related safety standards and stringent government regulations. The main difficulty that vendors in the nutraceutical sector face is that these food supplements & dietary supplements are pricey and thus out of reach for most people. In addition, the target clients have become more health-conscious. While this appears to benefit the nutraceutical components business, a large number of customers have switched to naturally occurring nutritional sources like vegetables and fruits, dwarfing the market size. Sugar is abundant in flavored and caffeinated soft drinks, which can lead to obesity if consumed in large amounts. To preserve their wellbeing, a growing number of people are avoiding the consumption of flavored and caffeinated soft drinks, posing a major challenge to the beverage processing industry.

The North America Nutraceutical Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. North America Nutraceutical Market top 10 companies are PepsiCo Inc., E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, Cargill, Incorporated, Royal DSM N.V., BASF SE, Nestle S.A., Groupe Danone S.A., Aland (Jiangsu) Nutraceutical Co., Ltd. and General Mills, Inc.

Report Code: FBR 0048