Nutraceuticals are derived from food sources and are highly enriched with various nutrients that are beneficial for good health. These products have extra health benefits compared to other normal diets and are considered as non-specific therapies used to control body symptoms and prevent various diseases. Nutraceutical products are available in a variety of forms such as tablets and capsules, powder, liquids, and solids/semi-solids.
As of 2021, the U.S. Nutraceutical Market was valued at U.S.$ 86.78 Million in terms of revenue, exhibiting a CAGR of 5.2% during the year (2022-2030)
Key Competitors in the U.S Nutraceutical Industry:
1) General Mills, Inc.
General Mills Inc. is an American multinational manufacturer and marketer of branded processed consumer foods sold through retail stores. The company produces Making mixes, ice cream, yogurt, flour, and other food products. The company was founded in the year 1866 and the headquarters are located in Golden Valley, Minnesota, U.S. The company was founded by Cadwallader C. Washburn, John Crosby, James Ford Bell.
In May, 2022 General Mills announced its plans of acquiring TNT Crust, a supplier of frozen pizza crust, from peak rock capital
2) Bayer AG
Bayer AG is a pharmaceutical and biotechnology company situated in Germany. It is one of the largest Pharma Company in the world. The headquarters are located in Leverkusen, North Rhine- Westphalia, Germany. The company was founded in the year 1863 by Friedrich Bayer. Bayer AG’s first ever manufactured product was acetylsalicylic acid. Since then it has manufactured many more products like heroin, phenobarbital, polyurethanes, however stopped producing them. The area of business is mainly healthcare products for consumers, agricultural chemicals.
In June 2021, Bayer AG completed the acquisition of Noria Therapeutics Inc. and PSMA Therapeutics Inc.
3) PepsiCo, Inc.
PepsiCo Inc. is a multinational food and beverage company that has expanded its business to a varied range of food and beverage brands. Most popular brands are- Pepsi, Mountain Dew, Doritos tortilla chips, Gatorade. The company was founded on August 28, 1898. The headquarters are located in Harrison, New York, U.S. The company was founded by Caleb Bradham.
In 2021, PepsiCo announced its plans to achieve net zero greenhouse gas emissions by 2040, in order to fight global warming. In 2022 the company acquired a U.S. $550 million stake in Celsius, an energy drink maker company.
4) Abbott Laboratories
Abbott Laboratories is a medical device and health care company based in America. It was founded in the year 1888 by Wallace Calvin Abbott. The headquarters are located in Abbott Park, Illinois, U.S. The company sells medical devices, branded generic medicines and nutritional products. Abbott’s products include MitraClip, FreeStyle Libre, Pedialyte, Ensure.
In January 2022, the company introduced Lingo, which is a line of consumer bio wearable sensors known to collect a range of biological reading to optimize exercise and nutrition regimens.
5) Chobani Global Holdings
Chobani is an American food company specializing in strained yogurt. The company sells thick, Greek style yogurt that provides a higher protein content than traditional yoghurt. It is one of the main companies that popularized the style of yogurt in the U.S. The company was founded in the year 2005, and the headquarters are located in Norwich, New York, U.S. The company was founded by Hamdi Ulukaya.
In February, 2022 Chobani launched two new dairy platforms, Chobani Ultra Filtered Milk, a lactose-free, protein-packed ultrafiltered milk, and Chobani Half& Half.
