Increasing Trend of Contract manufacturing to Drive North American Nutraceuticals Market

The North American nutraceuticals market is anticipated to grow at a CAGR of 8.5% during the forecast period (2020-2026). There is a growing trend of contract manufacturing of food in the region, which drives the growth of the market. Hormel Foods, Hearthside Food Solutions LLC, and Soft Gel Technologies Inc. are some of the food contract manufacturers in North America. The contract manufacturing companies for nutritional supplements in the region provide R&D, custom formulation, processing, filling, and packaging of dairy proteins and nutritional products.

Browse the full report description North American Nutraceuticals Market Size, Share & Trends Analysis Report by Product Type (Functional Food, Functional Beverage, and Dietary Supplements), and by Distribution Channel (Retail & Supermarkets and Online Platform) Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/north-american-nutraceuticals-market 

Moreover, the recent COVID-19 pandemic has resulted in growth in the nutraceuticals industry in the region as there is an increasing demand for dietary supplements among consumers to boost the immune system to fight COVID-19 and other acute respiratory tract diseases. The increasing demand for nutritional supplements amid the pandemic has resulted in a surge in the North American nutraceuticals industry.

Further, the increasing trend of the vegan diet in the region is creating demand for botanical functional ingredients used for the manufacturing of functional food and beverages and hence is expected to drive the market growth during the forecast period.

Moreover, the increasing contribution from the major players in the region also tends to expand the North American nutraceuticals market size. Some of the major players operating in the market include Amway Corp., Archer Daniels Midland Co., Cargill, Inc., W.R. Grace & Co., The Kraft Heinz Co., and The Hain Celestial Group, Inc., among others.

Market Coverage

• Market numbers available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- 

o By Product Type

o By Distribution Channel

• Countries Covered- 

o United States

o Canada

• Competitive Landscape- Amway Corp., Archer Daniels Midland Co., Cargill, Inc., W.R. Grace & Co., The Kraft Heinz Co., and The Hain Celestial Group, Inc.

Key Questions Addressed by the Report

• What is the current market size and growth rate in the forecast period?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• Impact on market growth due to the COVID-19 pandemic?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

North America Nutraceuticals Market Report Segment

By Product Type

• Functional Food 
• Functional Beverages 
• Dietary Supplements

By Distribution Channel

• Retail & Supermarket
• Online Platform

North America Nutraceuticals Market Regional

• United States
• Canada