U.S. Nutraceutical Market Predicted to Generate 8% CAGR Through 2015: PharmaLive Special Report
NEWTOWN, Pa., November 4, 2011 - The world nutraceutical market is expected to reach more than $180 billion in 2017 due to the aging population, increased prevalence of serious diseases, and an enhanced focus on preventative medicine. The U.S. nutraceutical market is among the largest and fastest-growing sectors in the world, predicted to generate a compound annual growth rate of more than 7% from this year through 2015.
Multivitamins remain the most popular nutraceutical supplement,
followed by calcium, omega-3, vitamin C, and vitamin D. The
popularity of these supplements relates to the perception that the
typical daily diet does not contain enough essential
Driven by consumers' desire to improve their health, the nutraceutical market must focus on scientific evidence backing the efficacy claims of products to maintain growth. Consumer education and the emergence of quality control of nutraceutical products will also help drive industry growth.
"The global nutraceutical industry is on track to generate annual sales growth of about 5% during the next few years, paced by the U.S. market,” says Andrew Humphreys, editor in chief of UBM Canon Data Products. "Emerging markets are also helping drive worldwide growth, such as India. That country's nutraceutical sales are projected to more than double between now and 2015."
One of the first companies to enter and create this market was Metagenics Inc. Founded in 1983, Metagenics is a nutrigenomics and lifestyle medicine company dedicated to reducing chronic illness and improving health. Through its substantial and continuing commitment to nutrigenomic research, the company has been able to identify natural compounds with powerful therapeutic applications to be used in Metagenics' science-based TLC programs, medical foods, and nutraceuticals.
Metagenics recently presented research at the National Lipid Association 2011 Annual Scientific Sessions in New York. The research demonstrated the effectiveness of omega-3 supplements for heart health and the long-term impact of a lifestyle medicine program. Significant improvements were observed in body weight, body mass index, percent lean body mass, percent fat mass, and total cholesterol of those that entered a lifestyle medicine program for one year.
The company has 43 patents and more than 230 pending patents. Metagenics' U.S. medical food products include Bariatrix Essentials, Estrium, UltraCare for Kids, UltraClear, UltraGlycemX, UltraInflamX, and UltraMean.
More information is available in Nutraceuticals and Vitamins Review and Outlook 2011, located at www.pharmalive.com/specialreports.
For additional information, contact Sandra Baker at +1-215-944-9836 or Sandra.Baker@ubm.com.
About UBM Canon Data Products
UBM Canon Data Products provide financial, company, and product statistical data and qualitative analysis for the global pharmaceutical, biotechnology, medical device, and appliance industries through PharmaLive Special Reports and Appliance Market Research Reports; maintains eKnowledgeBase and MDRWeb, comprehensive market intelligence tools serving the pharmaceutical, biotechnology, and medical-device sectors; and manages company-wide Site Licenses for PharmaLive.com, Med Ad News, and R&D Directions.
About UBM Canon
UBM Canon is a business-to-business media company serving the worldwide advanced manufacturing sector through its publications, trade events, and electronic media.
Posted: November 2011