Transparency Market Research (TMR) delivers key insights on the U.S. Nutraceuticals market in its upcoming outlook titled, “U.S. Nutraceuticals Market–Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024”. In terms of value, the U.S. Nutraceuticals market is projected to register a healthy CAGR of 5.3% during the forecast period due to various factors, regarding which TMR offers vital insights in detail.
An important factor driving the growth of Nutraceuticals market is the Consumer pro-activeness towards preventive healthcare. Preventive healthcare involves the use of products that can aid in prevention of certain medical conditions and diseases. In the recent past, focus has shifted from treatment of diseases to daily measures that can reduce onset or prevent chronic and lifestyle-related conditions and diseases. Since nutraceutical products are those with one or more beneficial ingredients, these are finding increasing adoption for long-term disease prevention measures.
Another important factor driving the growth of the market is increasing consumer preference for high-protein diets with natural ingredients. This trend is clearly demonstrated by the increasing sales of plant derived proteins such as soy and pea protein. Increasing preference for products with natural ingredients is also an important factor fueling demand for herbal supplements and omega fatty acid enriched functional foods. This is expected to result in increasing revenue from sales of these ingredients, which in turn will contribute substantially to growth of the U.S. nutraceuticals market over the forecast period.
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This report covers trends driving each segment and offers analysis and insights of the potential of the Nutraceuticals market in U.S. Functional beverages are expected to grow at a higher rate than the other segments registering a CAGR of 6.1% over the forecast period. Within the probiotic fortified foods and omega fatty acid segments are expected to register maximum growth and gain a total of 646 basis points over the period. On the basis of product form, the liquid form occupies major market share as all functional beverage are in the form of liquid. The liquid product form segment is expected to register a CAGR of 6.2% over the forecast period and to gain over 234 basis points over the forecast period.