Nutraceuticals are obtained from food sources and are highly augmented with various nutrients that are beneficial for good health. These products have extra health benefits in contrast to other normal diets and are considered non-specific therapies used to control symptoms and prevent various diseases. They can be grouped into functional foods, medicinal foods, dietary supplements, and pharmaceuticals. Nutraceuticals are highly adaptable in nature as they are used across various industries such as food and beverages, animal feed additives, pharmaceuticals, and personal care. Nutraceuticals come in a variety of forms, including tablets and capsules, powder, liquid, and solids or semi-solids. According to the Bonafide Research report title, "USA Nutraceutical Market Overview 2027", the USA nutraceutical market is expected to grow at a CAGR of more than 6%. The US is the leading markets globally. Due to busy work schedules and hectic lifestyles, rising demand for convenient, on-the-go, and ready-to-eat foods among US consumers has created a profitable growth opportunity for the country's nutraceutical market. As per the market analysis, the demand is relatively higher for on-the-go products that are fortified with nutrients and proteins. The US nutraceutical market's growth is further expected to grow because of the rising awareness regarding health and food habits. Furthermore, the COVID-19 outbreak had a positive impact on the nutraceutical market because people began to consume more nutraceutical products to keep their immune systems strong in order to be protected against novel coronaviruses. Because of this positive impact, many companies have started selling nutraceutical products online.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample
Moreover, for the market by product type, functional food has the highest market attractiveness with a CAGR of more than 6%. It helps to reduce the risk of deadly diseases by improving the health of the body by providing essential nutrients and proteins. Functional food in the diet adds benefits to an individual's physiological state. There has been an increasing demand for functional food over the past few years as new products have been launched to penetrate the food industry. Moreover, the utilisation of these products by many end-users such as sports nutrition, clinical nutrition, and weight management is expected to drive the growth of this market. In the dietary supplement market, vitamins show the highest market attractiveness with a CAGR of more than 4%. The outbreak of the COVID-19 pandemic has affected the market positively. Consumers are looking for nutritional and healthy products to increase the natural protection of their body are working system. The U.S. National Health and Nutrition Examination Survey announced that during the pandemic, more than 50% of the U.S. population was reported to have consumed vitamins and supplements. Moreover, to provide a relaxed shopping experience, manufacturers are emphasising online platforms to deliver their products. The market is highly combined because of the presence of several famous companies. They are always trying to develop new products with the latest innovations. This is assisting them in gaining a competitive advantage and managing consumer demand. Furthermore, the functional beverage market has the dairy and dairy alternative market as the fastest growing market with a CAGR of more than 8%. The rising popularity of dairy alternatives in the form of food supplements among the young population to maintain fitness goals will support the product demand. The business will be influenced positively by the high consumption of dietary supplements to regulate body weight along with an increase in the obesity rate among adults. Also, the increasing adoption of hemp and soy-fortified products as an alternative to whey protein by professional athletes and fitness enthusiasts will drive the dairy alternative market share.
However, the functional food market has the soy product market as the fastest growing market with a CAGR of more than 8%. This is because of high consumption of soy-based products as they provide health benefits and are cost-effective. Soy-based products are a good source of vitamins, proteins, and polysaturated and monosaturated fatty acids, which are favourable for curing cardiovascular health. Today, soy-based products are mostly consumed as dairy alternatives owing to their benefits, including their ability to improve the metabolism and help with healthy weight gain. Also, soy-based products can be served as a reviving nutritional beverage to consumers. Further, soybean is comparably less expensive, so these factors drive the market for soy products. Considered in this report • Geography: USA • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • USA dietary supplements • by supplement type market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation
Based on by product type in the report: • Dietary supplement • Functional foods • Functional beverages Based on by Dietary Supplement type in the report: • Vitamins • Minerals • Botanicals • Amino acids/ protein • Probiotics • Other type Based on by functional beverages type market in the report: • Energy drinks • Sports drinks • Fortified juice • Dairy and Dairy alternatives • Other functional beverages Based on by other functional food type market in the report: • Bakery and cereals • Dairy products • Meat, Fish & Eggs • Soy products • Fats & Oils • Other functional foods The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to medical industry, dietary supplement manufacturers, suppliers, associations & organizations related to nutraceutical supplements market, trends and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry