Nutraceuticals are derived from food sources and are highly enriched with various nutrients that are beneficial for good health. Consumption of these products also reduces the risk of chronic disease and relieves the symptoms of any disease. Nutraceuticals are highly versatile in nature as they are used across various industries such as food & beverages, animal feed additives, pharmaceutical, and personal care. Moreover, they can be classified into functional food, medicinal food, dietary supplements, and pharmaceuticals.
Market Dynamics
The U.S. nutraceuticals market witnessed significant growth from 2020, owing to the growing demand of consumer preference for high-protein diets. Based on product type, the U.S. nutraceuticals market is segmented into functional foods, functional beverages, and dietary supplements. Among these segments, the functional foods segment dominated the U.S. nutraceuticals market in 2021, owing to the growing consumption of plant-based protein such as soy and pea protein. This is in turn is fueling demand for the functional foods enriched with omega fatty acid and herbal supplements. This factor is estimated to drive growth of the U.S. nutraceuticals market during the forecast period.
On the basis of product form, the U.S. nutraceuticals market is bifurcated into the tablets and capsules, powder, liquid and solids/semi-solids. Among these segments, the liquid segment dominated the U.S. nutraceuticals market in 2021, due to the rising demand for the diet beverages among consumers. This factor is estimated to drive growth of the U.S. nutraceuticals market during the forecast period.
Dietary supplements are likely to grow, owing to the high awareness regarding their benefits in overall health and bodily maintenance. Fibers tend to foster easier bowel movements while providing critical cleansing of internal organs, while minerals contribute to higher retention and passage of nutrients into cells and promote blood clotting among other functions. Furthermore, high adoption rates of herbal medicines among individuals across the globe on account of the rising concerns over hazardous effects associated with conventional pharma drugs are expected to expand the market size over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
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