“The North America phytochemicals & plant extracts market is estimated to grow at a CAGR of 8.3% from 2014 to 2019. Phytochemicals & plant extracts play a major role in providing health and medicinal benefits, which include the prevention and treatment of diseases, in addition to the basic nutritional value found in food.
The North American region has been witnessing problems such as cancer, diabetes, hypertension, and obesity, among others, across its population in recent years, mainly owing to the extravagant lifestyles. Consumer concerns related to these diseases have created a massive market for nutraceuticals that incorporate natural plant extract ingredients. North America is a large market for plant extracts and phytochemical ingredients, since a majority of the food processing and pharmaceutical companies are established in this region.
The North American phytochemicals & plant extracts market has been segmented on the basis of application into functional food, functional beverages, dietary supplements, animal nutrition, and personal care. The dietary supplement is the most preferred application of phytochemicals & plant extracts. The North American market has been further segmented and forecast on the basis of major countries, such as the U.S., Canada, and Mexico.
The U.S. is the largest market for phytochemicals and plant extracts in the North American region. The U.S. market constituted 50.1% of the region market share in 2014. Nutraceuticals industries are increasingly incorporating phytochemicals and plant extract ingredients in their products to cater to the rising demand from consumers. The dietary supplements segment for plant extracts and phytochemicals has witnessed significant growth in recent years. There is a void between demand and supply in the North American market, which has led to high imports from other countries. The dietary supplement segment accounted for a share of 30.3% of the North American phytochemicals & plant extracts market in 2014.
Some of the key players of the North American phytochemicals & plant extracts market include Cargill Inc. (U.S.), Chr. Hansen (Denmark), Arboris LLC (U.S.), and BASF SE (Germany), among others. These companies are investing heavily in this high-growth market in order to gain higher profits and increase their shares in the North American market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysisâindustry analysis, market share analysis of top players, company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the North American market; high-growth countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater share of the North American market. Firms purchasing the report could use any one or 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:
â¢ Market Penetration: Comprehensive information on phytochemicals & plant extracts offered by the top 10 players in the North American phytochemicals & plant extracts (Nutraceuticals) market
â¢ Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the North American phytochemicals & plant extracts market
â¢ Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for various applications of phytochemicals & plant extracts across North America
â¢ Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North American phytochemicals & plant extracts market
â¢ Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the North American phytochemicals & plant extracts market