The US nutraceuticals market has been witnessing substantial growth over the past few years. Nutraceuticals can be defined as food or parts of food that provide medical or health benefits, including the prevention and treatment of disease. Rising health consciousness among consumers and growing preference for preventive healthcare have boosted the demand for nutraceutical products in the US. Several factors such as the increasing prevalence of lifestyle diseases, growing aging population, and favorable regulatory framework are expected to drive the growth of the nutraceuticals industry in the country. Moreover, innovations in product offerings and aggressive marketing strategies by key players are further propelling the market expansion. However, factors such as high prices of products and stringent regulatory approval process remain key challenges for the industry.
Market Dynamics:
The key drivers fueling the growth of the U.S. nutraceuticals market include rising health awareness, growing prevalence of chronic diseases, and favorable regulations. Additionally, aggressive promotion by market players and increasing accessibility through e-commerce channels are further augmenting the market growth. However, high product and R&D costs remain a major restraint. Moreover, the presence of counterfeit products also hinders the market development to some extent. On the positive side, untapped opportunities in the herbal and sports nutrition segments are projected to offer new avenues for market expansion in the coming years. Continuous innovations with the development of novel formulations are also expected to generate attractive prospects.
Key Features of the Study:
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