North America Nutraceuticals Market valued USD 88.3 billion in 2022 and is estimated to reach USD 118.73 billion by 2028, growing at a CAGR of 6.1% in the forecast period of 2023 to 2028. North America held the largest share in 2016 with US as the leading market. Globally, North America generated the highest revenue in the nutraceuticals market in 2016. The market growth in this region is attributed to the growing consumer's awareness regarding their health and food habits. Dietary supplements and functional food is an emerging segment in the nutraceuticals market in this region. This market is anticipated to witness a high growth rate in the herbal, vitamins, and minerals segment of the dietary supplement market.
The word nutraceutical is made with the combination of “nutrient” (nourishing food component) and “pharmaceutical” (medical drug), it includes product obtained from food sources with added health benefits along with the basic food values. Disease prevention and boost in physical performance are the benefits taken from dietary supplement.
Nutraceuticals have numerous values like their safety, potential nutritional and therapeutic values. Health improvement of people can be done through supplement food or by the consumption of food that is fortified. It also deals with the gut complications such as Crohn’s disease, ulcerative colitis, gluten therapy resistant celiac and irritable bowel syndrome that results from imbalance and overgrowth of intestinal microbial flora.
Demand of nutraceutical products is increasing because of lack in nutritional intake in regular food, underscoring the need for nutraceutical products. The key reasons driving the market have been the increase in lifestyle diseases all over the world and inadequate. Lack of awareness in the developing countries about these nutraceutical ingredients is restricting the growth of the market in those regions.
The market is divided on the basis of types into prebiotics, probiotics, proteins & amino acids, fibers & specialty carbohydrates, vitamins, phytochemicals & plant extracts, minerals, carotenoids, Omega-3 fatty acids and others. Based on application the market is further segmented into animal nutrition, functional food, dietary supplements, functional food beverages and personal care. Dietary supplements segment leads the application market while photochemical & plant extracts is the fastest growing division.
Geographically the North America Nutraceuticals Market is segmented into US, Canada and Rest of North America.
Key Players in the Market:
Major Key Players in the North America Nutraceuticals Market are
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