North America was the second largest nutraceutical market in the world in 2012, after Asia-Pacific. The revenues of the nutraceutical industry of the US have contributed the leading share in the overall proceeds of the nutraceutical market in North America over the years. However, the share of the US has showcased a rapid decline in the recent years, however a brisk rate of development in the nutraceuticals sector in Canada have been observed. A distinctive feature of nutraceuticals industry in North American region is the strict standards for manufacturing, labeling and marketing of dietary or nutritional supplements followed.
The demand from rapidly ageing population in the US and Canada has provided impetus to the revenues of the North America nutraceuticals industry in recent years. The impending risk of chronic diseases and maintenance of health in old age have been the major health concerns over the past few years; which has resulted in increased expenditure of healthy food products including functional food & beverages and dietary supplements.
The health and wellness trends are spreading at a rapid pace in the North American territory. The growing preferences towards healthy food and nutritional supplements, strengthened by increasing discretionary incomes and improving economic environment, are expected to provide momentum to revenues in the market.The growth in the North American market will be led by a growing number of people switching towards fortified food and beverages in the coming years. The manufacturers are expected to introduce customized products, ranging across the ages and genders. The introduction of gender-specific supplements will be more common, as the firms begin to address several health issues.
“The revenues of the major markets of Asia-Pacific region are expected to reach a cumulative figure of USD 146 billion by 2017”- According to Research Analyst, Ken Research
The report “North America Nutraceuticals Industry Outlook to 2017 -Increasing Demand from Ageing Population to Drive Growth” provides detailed overview on the nutraceuticals market in the North America region from various perspectives. The report encloses a comprehensive analysis of the various segments of the market reflecting the present scenario and future growth affected by changing industry dynamics in coming years. Additionally, the report also entails information about the market structure, segmentation and rational analysis of the macroeconomic factors, along with the profiles of the major market players of the nutraceuticals industry in different countries. The report will help industry consultants, nutraceuticals companies and other stakeholders align their market centric strategies according to ongoing and expected trends in future.
Contact Person- Ankur Gupta