“The North American Omega-3 & structured lipids (nutraceuticals) market is projected to grow at a CAGR of 6.6% from 2014 to 2019. The rapid rate of globalization in the developing countries of North America is boosting the food & beverage industry. The increasing disposable income in these countries has caused an upsurge in the demand for functional foods & beverages. Countries such as the U.S. and Canada have strong nutraceuticals and functional food & drinks sectors, in contrast with countries such as Mexico, which are gradually growing. In other parts of North America, this sector is still in its nascent stage, mainly due to the lack of awareness of these products.
In this report, the North American Omega-3 & structured lipids (nutraceuticals) market has been broadly discussed by its applications such as functional food, functional beverages, dietary supplement, animal feed, and personal care. The dietary supplements segment is projected to grow at the highest CAGR from 2014 to 2019.
The U.S. is the largest Omega-3 & structured lipids (nutraceuticals) market in North America, with a share of 54.94%, followed by Canada and Mexico. Increase in consumer awareness has propelled the demand for Omega-3 & structured lipids products in this region.
BASF SE (Germany) has a major share in the North American Omega-3 & structured lipids (nutraceuticals) market. Nippon Suisan Kaisha (NISSUI) (Japan), with a market share of 7.02% is not far behind. Other firms such as Wuxi Xunda (China) and Croda International (U.K.) are competing in the region. These companies are engaged in mergers & acquisitions, joint ventures, new product development, and expansions to increase their share in the North American Omega-3 & structured lipids (nutraceuticals) market.
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