Mexico Projected to be Fastest-growing Nutraceuticals Market in North America

Food fortified with additional nutrients has caught the fancy of consumers worldwide as they look for safer, more effective, and pocket-friendly ways to maintain their health. Thus multibillion-dollar market, created as a result of consumers taking their health and wellbeing more seriously, is expected to have a 7.30% CAGR between 2015 and 2021 to touch US$278.9 bn by the end of 2021.

Many consumers look at nutraceuticals as a substitute to OTC drugs and prescription drugs. Their easy availability on the market and attractive packaging solutions adopted by manufacturers have thus stirred a greater interest for nutraceuticals among consumers.

Here are a few highlights of the nutraceuticals market, as projected by Transparency Market Research: 
 
  • Mexico is projected to become the fastest-growing market for nutraceuticals in North America. From the global standpoint, the market for nutraceuticals in North America is the largest in the world. North America has been the largest market for nutraceuticals for the last ten years, owing largely to an affluent consumer base and the presence of several nutraceutical manufacturers here. The scope for growth is higher in Mexico nutraceuticals market thanks to an increasingly affluent population base here.
  • Japan, Australia, Brazil, and China are the other markets where investor sentiments in the nutraceutical market remain positive. Companies have identified these markets as lucrative and are launching new products at regular intervals here. The Asia Pacific nutraceuticals market follows closely behind North America, and is expected to show steady growth in the next few years.
  • GCC nations will create remunerative opportunities for growth for nutraceutical manufacturers. This region is characterized by an affluent user base that’s also focusing on maintaining good health. The conditions for the growth of the nutraceuticals market in the Middle East and Africa region are thus favorable.
Overall, there has been an increased interest among consumers to maintain a proactive lifestyle and this is reflecting in the positive growth of the nutraceuticals market worldwide.

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