A report by Goldgaber Research Group analyst Arthur Goldgaber provides current industry data and analysis of the growing nutraceutical industry
TROUT LAKE, Wash., June 24, 2022 (GLOBE NEWSWIRE) — Nutraceutical Insights, a nutraceutical website that publishes regular industry reports, today announced the release of a market overview titled “Industry Opportunity: Nutraceuticals Market Report” , by market analyst Arthur Goldgaber Goldgaber Research Group.
The report profiles the nutraceuticals industry, which is experiencing significant growth across the globe, driven by increasing expected age and associated aging and increasing lifestyle diseases. Demographic changes have also benefited manufacturers in recent years.
The report states, “During the COVID-19 pandemic, the global nutraceuticals market is expected to expand from USD 412.7 billion in 2020 to USD 722.5 billion in 2027, expanding at a compound annual growth rate (CAGR) of 8.3% during this period As a specific segment of the overall nutraceuticals market, functional foods held the largest share in 2019, generating $187.51 billion in revenue.”
According to Global Industry Analytics Inc., the U.S. nutraceuticals market will be worth $112.6 billion by 2022. The US currently holds a 34.7% share of the growing market. Other notable markets include China, Japan, and Canada, each of which is expected to grow at an annual rate of 9.6%, 6.3%, and 6.7%, respectively. In Europe, forecasters expect Germany to grow at a CAGR of 7.1%.
The report goes on to say: “The nutraceutical products industry is highly fragmented, with a large number of companies with revenues of less than $20 million representing a significant opportunity for industry consolidation. A new company in the nutraceuticals market is located in Florida Smart Living Company (NASDAQ: SMFL). The company develops, markets, manufactures, acquires, operates and sells a broad range of nutritional and related products with a focus on health and wellness. As a global holding company, the company is executing a buy-and-hold strategy. The goal is to generate successive value-added acquisitions to create a vertically integrated company. The goal is to aggregate companies that generate at least $300 million in revenue over the next three years. To drive growth and sales, the company is developing proprietary products and acquiring other profitable companies, including brands, manufacturing and distribution channels. “
Interested parties can access the direct link to the report by navigating to the following URL: https://nutraceuticalinsights.com/2022/06/23/sector-opportunity-nutraceutical-market-report-arthur-goldgaber-market-analyst/.
A PDF version of the report can also be viewed or downloaded here: https://nutraceuticalinsights.com/wp-content/uploads/2022/06/ni-goldgaber2022-06-23.pdf.
About Nutrition Insights
The Nutraceutical Insights and nutraceuticalinsights.com domains are owned by Corvus & Coil LLC, a Washington State-based advertising agency specializing in public companies. Nutraceutical Insights focuses on providing reviews and industry reports on the overall nutraceuticals market, a broad category that includes functional foods and beverages, vitamins, food-derived and other dietary supplements, and other health and wellness products without a prescription. For more information on Nutraceutical Insights, please visit: www.nutraceuticalinsights.com.
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The information provided in this press release is for general knowledge purposes only and is not intended to be a substitute for professional medical advice or treatment for a specific medical condition. If you have any questions about a medical condition, be sure to consult your doctor or other qualified healthcare provider. This information is not intended to diagnose, treat, cure or prevent any disease.
Smart for Life, Inc. (Nasdaq: SMFL) paid the authors of this report $1,000 for consideration for this report. No securities have been issued to the authors or any other party as compensation for writing or publishing this report. The Nutraceuticalinsights.com website is owned by Corvus & Coil LLC, which Smart for Life, Inc. has retained to provide a wide range of advertising agency services.
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