The North American nutraceuticals market is projected to grow at a CAGR of 7.1% during the forecast period. The key factors driving the growth of the market include the shift towards preventive therapies and increasing disposable income. Further, there is an increasing demand for nutraceuticals in North America owing to its increasing medical benefits. Nutraceuticals contain antioxidants, probiotics, and polyunsaturated fatty acids, which help to manage health issues, such as obesity, cardiovascular diseases, cholesterol, and diabetes. Thus, the increasing prevalence of these diseases in the region creates demand for nutraceuticals and hence drive the regional growth of the market.
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The North American nutraceuticals market is segmented on the basis of product type and distribution channels. Based on the product type, the market is segmented into functional food, functional beverage, and dietary supplements. The functional food segment is projected to hold a significant share in the market owing to the availability and increased awareness about a wide range of functional food in the market.
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Based on the distribution channel, the market is segmented into retail & supermarkets and online platform. The online distribution channel tends to exhibit significant growth during the forecast period. Further, the report covers the country-level analysis of the US and Canada.
Some of the prominent players operating in the North American nutraceuticals market include Amway Corp., Archer Daniels Midland Co., Cargill, Inc., W.R. Grace & Co., The Kraft Heinz Co., and The Hain Celestial Group, Inc., among others. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the North American nutraceuticals market.
Market Segmentation
North American Nutraceuticals Market by Product Type
• Functional Food
• Functional Beverage
• Dietary Supplements
North American Nutraceuticals Market by Distribution Channel
• Retail & Supermarket
• Online Platform
Regional Analysis
• US
• Canada
Company Profiles
Abbott Laboratories Inc. (Abbott Nutrition)
• Overview
• Abbott in Nutraceuticals Landscape
• Recent Developments
Archer Daniels Midland Co.
• Amway Corp.
• Bactolac Pharmaceuticals, Inc.
• Cargill, Inc.
• DuPont de Nemours, Inc.
• General Mills Inc.
• Innophos Inc.
• Mead Johnson & Co. LLC
• Natrol LLC
• PepsiCo Inc.
• The Hain Celestial Group, Inc.
• The Kraft Heinz Co.
• WR Grace & Co.
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