North America Nutraceutical Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.40 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Nutraceutical Market Analysis
The North American Nutraceuticals market is projected to register a CAGR of 6.4% during the forecast period.
The nutraceuticals market is primarily driven by the surging demand for nutraceuticals among consumers owing to their medical benefits, such as preventing and curing heart disease, neurodegeneration, diabetes, cancer, hypertension, ailments caused due to oxidative stress, and others. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues like obesity, cardiovascular disease, cancer, cholesterol, arthritis, diabetes, and others. The growing preference for personalized nutrition is another key nutraceutical market trend, which may further stimulate market growth. The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective.
The nutritional food and supplement market space is exploding with growing consumer interest in foods containing bioactive compounds, which aid in preventing many diseases. North American consumers are actively seeking functional food products to maintain their lifestyles. Key players are capitalizing on the growing interest of consumers in functional food products, thus innovating consumer-oriented products and marketing their products to specific demographics, such as the aging population, young adults, and mothers. For instance, in February 2022, Morinaga America Inc. announced the launch of Chargel in the United States, a new line of Gel Drinks for athletes. The company claims that the drink helps deliver pre-workout energy to consumers and contains a blend of fruit juice, carbohydrates, and five essential B vitamins without any caffeine.
North America Nutraceutical Market Trends
This section covers the major market trends shaping the North America Nutraceuticals Market according to our research experts:
Growing Efficacy of Functional Foods and their Botanical Active Ingredients
Consumers are getting inclined towards functional food and beverage products to improve their health as many are considering the link between health and diet. The increasing incidence of age-related disorders such as high blood pressure, obesity, diabetes, and others, and rising lifestyle disorders-related mortality, is leading to the growing adoption of a healthy lifestyle with optimum nutrition to avoid disease, in turn driving the consumption of nutraceuticals in the region. Functional foods such as canola oil, oats, omega-3 milk, and psyllium lignin have been proven beneficial in the prevention and treatment of cardiovascular diseases.
The rapidly increasing baby boomer population in North America is further driving the sales of nutraceutical products. The rising trend of veganism in North American countries is boosting the demand for botanical active ingredients to manufacture functional food and beverages. Manufacturers have also isolated and concentrated these active botanical ingredients in dietary supplements.
The United States holds a Prominent Market Share
The United States accounted for the largest market share for Nutraceuticals in the North American region owing to the rising interest of consumers in preventive healthcare and self-medication along with an increase in the aging population's demand for functional food and beverages to prevent or mitigate conditions related to aging. In addition, increasing healthcare spending, and rising consumer disposable income, coupled with changing consumer perception towards nutraceuticals due to their proven health benefits, is further propelling the growth of the market.
Millennials are concerned about optimizing their present health and preventing deteriorating health in the future. Thus, opting for fortified food and beverage products, which in turn increases the sales of nutraceuticals. The increasing number of women incorporating supplements and functional food in their diet is due to recommendations from health practitioners. Sales of women's nutraceutical products account for a significant share of the demographic sector.
North America Nutraceutical Industry Overview
The North American nutraceuticals market is highly competitive owing to the presence of a large number of international, national, and domestic players competing for a significant market share. The key players operating the in the market are PepsiCo Inc., General Mills Inc., Nestle SA, The Kellogg Company, and Herbalife International of America Inc., among others. The major players are adopting strategies such as product innovation, expansion, partnerships, and others to boost their brand presence. In addition, an advanced distribution network gives an upper edge to the manufacturers to expand their range of products suitable for various consumer needs. Manufacturers of nutraceutical products are capitalizing on the growing interest of consumers in health and wellness products and introducing new products in the market. For instance, in October 2021, Banano, a South Korea-based energy drink brand, launched its energy drinks in the US market. The company claims that the Banano drink is made from 100% banana puree infused with active ingredients like Curcumin, which is known for its antioxidant and anti-inflammatory properties.
North America Nutraceutical Market Leaders
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PepsiCo Inc.
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General Mills Inc.
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Nestle SA
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The Kellogg Company
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Herbalife International of America Inc.
*Disclaimer: Major Players sorted in no particular order
North America Nutraceutical Market News
Sept 2022: Gatorade, a division of PepsiCo, entered into the energy drink category with a caffeinated spin-off called Fast Twitch. The company claims that the energy drink is designed to provide an extra boost to athletes before their workout.
Jun 2021: General Mills, Inc. launched Good Measure, a brand of snacks. The new line includes three varieties of bars, Peanut & Dark Chocolate, Blueberry & Almond, and Almond & Dark Chocolate. The company claimed that the snack bars contain ingredients that don't spike blood sugar, to cater to the demand of diabetic and prediabetes consumers.
May 2021: PepsiCo launched a functional sparkling water brand named Soulboost. The company claims that the new product is infused with functional ingredients such as panax ginseg and L-theanine. The company aimed to enhance its product portfolio with the launch of functional beverages to cater to the demand of wellness-focused consumers.
North America Nutraceutical Market Report - Table of Contents
1. INTRODUCTION
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 Type
5.1.1 Functional Food
5.1.1.1 Cereal
5.1.1.2 Bakery and Confectionery
5.1.1.3 Dairy
5.1.1.4 Snacks
5.1.1.5 Other Functional Foods
5.1.2 Functional Beverages
5.1.2.1 Energy Drinks
5.1.2.2 Sports Drinks
5.1.2.3 Fortified Juice
5.1.2.4 Dairy and Dairy Alternative Beverages
5.1.2.5 Other Functional Beverages
5.1.3 Dietary Supplements
5.1.3.1 Vitamins
5.1.3.2 Minerals
5.1.3.3 Botanicals
5.1.3.4 Enzymes
5.1.3.5 Fatty Acids
5.1.3.6 Proteins
5.1.3.7 Other Dietary Supplements
5.2 Distribution Channel
5.2.1 Specialty Stores
5.2.2 Supermarkets/Hypermarkets
5.2.3 Convenience Stores
5.2.4 Online Retail Stores
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
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.
6.3.9 Abbott Laboratories
6.3.10 Red Bull GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Nutraceutical Industry Segmentation
Nutraceuticals are products derived from food sources and are known to provide medicinal and nutritional benefits. Nutraceutical products offer several benefits, such as improving health, preventing the risk of chronic diseases, delaying the aging process, and others.
The North American Nutraceuticals Market is Segmented by Type (Functional Food, Functional Beverages, and Dietary Supplements), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail Stores), and Geography (United States, Canada, Mexico, and the Rest of North America). The report offers market size and forecasts in value (USD million) for the above-mentioned segments.
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| Distribution Channel | |
| Specialty Stores | |
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| Geography | |
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| Canada | |
| Mexico | |
| Rest of North America |
North America Nutraceutical Market Research FAQs
What is the current North America Nutraceuticals Market size?
The North America Nutraceuticals Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)
Who are the key players in North America Nutraceuticals Market?
PepsiCo Inc., General Mills Inc. , Nestle SA , The Kellogg Company and Herbalife International of America Inc. are the major companies operating in the North America Nutraceuticals Market.
What years does this North America Nutraceuticals Market cover?
The report covers the North America Nutraceuticals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Nutraceuticals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Nutraceuticals Industry Report
Statistics for the 2024 North America Nutraceuticals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Nutraceuticals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
