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The North American nutraceuticals market is segmented by Type into Functional Food, Functional Beverages, and Dietary Supplements, by Distribution Channel into Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, and Online Retail Stores, and by Geography.
The North American nutraceutical market is projected to register a CAGR of 6.4%, during the forecast period, 2020 - 2025.
The North American nutraceuticals market is segmented by type into functional food, functional beverages, and dietary supplements. the functional food segment is further sub-segmented into cereals, bakery and confectionary, dairy, snacks, and other functional foods. The functional beverages segment is sub-segmented into energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverages, and other functional beverages. the dietary supplements segment is sub-segmented into vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplements. by distribution channel, the market is segmented into specialty stores, supermarkets/hypermarkets, convenience stores, and online retail stores. Also, the study provides an analysis of the nutraceuticals market in the emerging and established markets across North America, including the United States, Canada, Mexico, and Rest of North America.
|Online Retail Stores|
|Rest of North America|
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As Canadians age and face rising healthcare costs, many are considering the link between health and diet. The functional food (nutraceutical) industry is seizing the opportunity with product innovation and market expansion. Functional food growth in Canada is predicted to be in the areas of trans fat replacements, sodium substitutes, sugar alternatives, free-from allergens (in particular, gluten-free foods), clean labels, whole foods, naturally sourced bioactive, nutrigenomics, protein boosters, and new technologies. The growing vegan diet trend is also driving the demand for botanical functional ingredients used in functional food and beverages. Manufacturers have also isolated and concentrated these botanical active ingredients in dietary supplements. These functional foods with vegan ingredients supply the phytochemicals in dosages that exceed those obtained from normal foods and are promoted for health enhancement.
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The three important consumer demographic segments that are driving the nutraceutical market are – millennials, baby boomers, and women. Millennials are concerned about optimizing their present health and preventing deteriorating health in the future. They consume food products, typically fortified with calcium, fiber, vitamins, and minerals, and are also responsible to drive the trend for a more regular and healthier snacking. Baby Boomers require products that help prevent or mitigate conditions related to aging. They prefer nutraceutical products usually rich in fiber, antioxidants, heart-healthy ingredients, vitamins and minerals, omega-3 fatty acids, vitamin D, calcium, and whole grains. Women drive the supplement and functional food in their diet segments, due to recommendations from health practitioners. Sales of women’s nutraceutical products account for a significant share of the demographic sector. Also, advertising for female-targeted vitamins and supplement products is usually focused on fitness and lifestyle.
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The North American nutraceutical market is competitive in nature having a large number of domestic and multinational players competing for the market share. Emphasis is given on mergers, expansions, acquisitions, and partnerships of the companies, along with new product development as a strategic approach adopted by the leading companies to boost their brand presence among consumers. Key players dominating the North American region include PepsiCo Inc., General Mills Inc., Nestle SA, The Kellogg Company, and Herbalife International of America Inc.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Functional Food
22.214.171.124 Bakery and Confectionery
126.96.36.199 Other Functional Foods
5.1.2 Functional Beverages
188.8.131.52 Energy Drinks
184.108.40.206 Sports Drinks
220.127.116.11 Fortified Juice
18.104.22.168 Dairy and Dairy Alternative Beverages
22.214.171.124 Other Functional Beverages
5.1.3 Dietary Supplements
126.96.36.199 Fatty Acids
188.8.131.52 Other Dietary Supplements
5.2 Distribution Channel
5.2.1 Specialty Stores
5.2.3 Convenience Stores
5.2.4 Online Retail Stores
5.3.1 United States
5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 PepsiCo Inc.
6.3.2 General Mills Inc.
6.3.3 Nestle SA
6.3.4 The Kellogg Company
6.3.5 Herbalife International of America Inc.
6.3.6 Nature's Bounty Inc.
6.3.7 Pfizer Inc.
6.3.8 Amway Corp.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS