NEW YORK, July 9, 2015 /PRNewswire/ -- The North American vitamins (nutraceuticals) market is estimated to grow at a CAGR of 6.8% from 2014 to 2019. The rising number of aging population is seen in this region which has led to increased health consciousness. The claims of nutraceuticals products such as preventing chronic diseases, improving health, delaying the aging process, and increasing life expectancy has generated an interest among the aging population. This drives the overall market for vitamins (nutraceuticals) in the North American region.
In this report, the North American vitamins (nutraceuticals) market has been broadly discussed by its application like functional food, functional beverages, dietary supplement, animal nutrition, and personal care. The dietary food market is estimated to grow at the highest CAGR from 2014 to 2019. Awareness of vitamins (nutraceuticals) ingredients in the supplementary food and personal care is the major driving force for vitamins (nutraceuticals) industry in North America.
The U.S. is a largest vitamins (nutraceuticals) market in the North America with a market share of 52.85% followed by Canada and Mexico. Mexico has the highest CAGR for the estimated period. There are quality control issues with the minerals as well as the vitamins imported from China, especially used in pet food. In the U.S., deaths of pets were reported due to consumption of the contaminated food sourced from China which made the pet owners cautious. This acts as a restricting factor in the growth of the vitamins (nutraceuticals) ingredients consumption in the North American region.
The Royal DSM (the Netherlands) has a major market share in the North American Vitamins (nutraceuticals) market. BASF SE (Germany) with a market share of 7.71% follows Royal DSM. The other firms like DuPont (U.S.), Honson Group (Canada), Archer Daniels Midland Co. (U.S.), Cargill Inc. (U.S.), and Aland (Jiangsu) Nutraceutical Co. Ltd., are competing in the growing vitamins (nutraceuticals) market in the region. These companies are engaged in market strategies like mergers and acquisitions, joint ventures, new product developments, and expansions to increase their market share in the North American vitamins (nutraceuticals) market.
Reasons to Buy the Report:
From an insightful perspective, this research report focused on various levels of analysis—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape and emerging- and high-growth segments of the North American vitamins (nutraceuticals) market, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to measure the pulse of the market, which in turn will help the firms to garner a higher percentage of share. Firms purchasing the report could use any one or in combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on vitamins (nutraceuticals) offered by the top 10 players in the North American vitamins (nutraceuticals) market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the North American vitamins (nutraceuticals) market.
• Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for various application of vitamins (nutraceuticals) across North America.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North American vitamins (nutraceuticals) market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the North American vitamins (nutraceuticals) market.
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