The US nutraceuticals market is anticipated to grow at a CAGR of 8.5% during the forecast period (2020-2026). The market growth is attributed to the increasing demand for dietary supplements in the country amid the COVID-19 outbreak. Vitamins are the top-selling product within the healthcare industry and out-performed products such as cold remedies, analgesics, and first aid items. The demand for dietary supplements is increasing significantly among consumers. 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 enhance their immune system to fight COVID-19 and other acute respiratory tract diseases.
Browse the full report description US 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/us-nutraceuticals-market
Further, owing to the COVID-19 pandemic, growth in the e-commerce sales of nutraceuticals products has been witnessed in the US. The mandatory lockdown imposed by the government to prevent the spread of the virus has resulted in increased growth in the e-commerce industry. This growth in the e-commerce industry was owing to the increasing sales of nutraceuticals, especially dietary supplements by the consumers via an e-commerce platform.
On account of this growth in the sales via the online platform, the companies in the market are making efforts to bring innovations in the market. For instance, in September 2020, Nutraveris, a FoodChain ID company, launched Nutraveris Online [NOL], an integrated platform that uses AI for evaluating and monitoring the US dietary supplement data and compliance. The platform features NOL Data Solution that enables customers to create new products leveraging the US regulatory, scientific & marketing data. In addition, NOL Compliance provides insights for new product launches and includes automated compliance analysis, label generation, and on-going monitoring and alerts.
Market Coverage
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US Nutraceuticals Market Report Segment
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