Nutraceutical Market to Hit $75 Billion in 2017

DUBLINThe U.S. nutraceutical market will reach $75.3 billion in 2017 and grow at a CAGR of nearly 6 percent between 2013 and 2017, according to a new report by Research and Markets.

This significant market growth is driven by factors such as rising consumption of dietary supplements and the propelling functional food and beverages segment, the report said. Rising mergers and acquisitions, new prebiotic and probiotic product launches, and heart health-enhancing nutraceuticals also continue to augment the category growth.

In the report, the U.S. nutraceutical market is broken down into three distinct segments: dietary supplements, functional food and functional beverages, with the current and future outlook to 2017. For market performance analysis, the dietary supplements dominate the market with a 37-percent share, followed by functional food and functional beverages. In addition, the report also covers the nutraceutical ingredient market and its sub-segments, which helped the analysts identify and highlight the segments offering maximum opportunity for growth in the United States.   

The study also includes a detailed description of major players in industry, covering descriptions of their business, financials and recent developments. Market drivers and trends are discussed, along with consumer behavior analysis and regulatory framework analysis to provide an understanding of the market dynamics.   

U.S. consumer spending on sports drinks and nutrition bars is also expected to reach impressive growth, hitting up to $10 billion in 2013.