Nutraceuticals

Nutraceuticals

Perhaps the broadest wellness market in the US is the diverse nutraceuticals industry (nutraceuticals refer to food or functional ingredients that provide health and wellness benefits). Nearly 2 out of 3 US households use nutraceuticals. While consumers of all ages and backgrounds use nutraceuticals, millennial consumers are the strongest cohort. Nutraceutical consumers are focused on prevention and health management; they believe nutraceuticals improve health and reduce medical expense.

A recession-resistant industry, with continued growth during last global downturn, nutraceutical companies have a growing interest in natural product sourcing. Notably, companies focus on “natural nutraceutical ingredients...due to the increasing consumer demand for all-natural non-modified functional ingredients.“ Some companies "believe bioavailability of ingredients is higher, while risk side effects are significantly lower".

Given higher consumer and government scrutiny, the nutraceutical industry is highly focused on improved quality, safety and transparency.

NUTRACEUTICAL INDUSTRY HIGHLY FOCUSED ON IMPROVED QUALITY, SAFETY AND TRANSPARENCY

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