Trout Lake, WA , June 24, 2022 (GLOBE NEWSWIRE) -- Nutraceutical Insights, a nutraceutical website publishing periodic industry reports, today announced the publication of a market overview titled "Sector Opportunity: Nutraceutical Market Report," by market analyst Arthur Goldgaber of Goldgaber Research Group.
The report describes the nutraceutical industry, which has experienced significant growth globally, propelled by the increasing age expectancies and associated increases in diseases of aging and lifestyle. A shift in demographics has also allowed manufacturers to benefit in recent years.
The report states, "Amid the COVID-19 pandemic, the global nutraceutical market is projected to expand from $412.7 billion in 2020 to $722.5 billion by 2027, expanding at a compound annual growth rate (CAGR) of 8.3% over the period. As a specific segment in the overall nutraceutical market, functional foods accounted for the largest share in 2019 and generated revenues of $187.51 billion."
The U.S. nutraceutical market is valued at $112.6 billion in 2022, according to Global Industry Analytics Inc. The U.S. currently accounts for a 34.7% share of the growing market. Among the other noteworthy markets are China, Japan, and Canada, each forecast to grow annually at 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 nutritional products industry is highly fragmented, with a large pool of companies generating less than $20 million in revenues, which represents a significant opportunity for industry consolidation. A new company in the nutraceuticals market is Florida-based Smart for Life, Inc. (Nasdaq: SMFL). The company develops, markets, manufactures, acquires, operates, and sells a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a global holding company, the company is executing a buy-and-hold strategy. The goal is to generate serial accretive acquisitions to create a vertically integrated company. The objective is to aggregate companies that are generating a minimum of $300 million in revenues within the next three years. To drive growth and sales, the company is developing proprietary products and acquiring other profitable companies, encompassing 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 is also available for viewing or downloading here: https://nutraceuticalinsights.com/wp-content/uploads/2022/06/ni-goldgaber2022-06-23.pdf.
About Nutraceutical Insights
Nutraceutical Insights and the domain nutraceuticalinsights.com are owned by Corvus & Coil LLC, a Washington state-based advertising agency specializing in publicly held companies. Nutraceutical Insights focuses on supplying commentary and industry reports on the overall nutraceutical market, which is a broad category that includes functional foods and beverages, vitamins, food-derived and other dietary supplements, as well as other health and wellness products that can be obtained without a prescription. For more information about Nutraceutical Insights, please visit: www.nutraceuticalinsights.com.
Statements in this press release which are not historical facts are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believe," "expect," "could," "may," "would," "will," "trend" and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements relating to future prospects, developments and business strategies. Forward-looking statements speak only as of the date they are made, and neither Nutraceutical Insights nor Corvus & Coil LLC undertake any duty to update any forward-looking statements made in this press release or to conform such statements to actual results or changes in expectations.
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.
The author of this report was compensated $1,000 by Smart for Life, Inc. (Nasdaq: SMFL) in consideration for writing this report. No securities were issued to the author or any other party as compensation for writing or publishing this report. The website Nutraceuticalinsights.com is owned by Corvus & Coil LLC, which is employed by Smart for Life, Inc. on an ongoing basis to provide a broad array of advertising agency services.
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