Nutraceuticals market seeing rapid growth in US, says report
According to a new research report by RNCOS US Nutraceuticals Market Analysis, the nutraceutical market has evolved as one of the fastest growing industries in the US and remained almost immune even in the tough post recessionary scenarios.
The government is also attentive towards the growth of this industry, which is anticipated to further accelerate in the future. In 2011, the US nutraceutical industry is estimated to have posted an amount worth US$ 71.8bn and is further likely to grow at a healthy CAGR of around 8% during 2012-2015.
The report has revealed that the US nutraceutical market is dominated by functional food segment that captured around 57% share in 2010 and was followed by dietary supplements. The US functional food market is largest in the world, representing 35-50% of total global sales.
Functional foods are viewed as one option available to Americans seeking cost-effective, preventative approaches to health care and improved health status. With a CAGR of around 7% during 2012-2015, the US functional foods market will continue to dominate the whole industry.
Source: RNCOS
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