DUBLIN, May 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/56rdzr/north_america) has announced the addition of the "North America Vitamins (Nutraceuticals) Market By Application, and By Geography- Trends and Forecast up to 2019" report to their offering.
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.
For more information visit http://www.researchandmarkets.com/research/56rdzr/north_america
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SOURCE Research and Markets