We may be enduring what has been said to be the worst recession since the Great Depression of the 1930s – but there is a bright light shining in the darkness:  the nutraceutical industry is booming.

Through difficult times, people know they need to be as healthy as possible to withstand tough pressures and the inordinate stress.  Today, many people understand that dietary supplements and functional foods are good, and they firmly believe that taking nutraceutical products can keep their doctor visits and pharmacy bills down.

The Freedonia Group, a leading market intelligence firm, just released data from a new report, “World Nutraceutical Ingredients.” The report asserts that the U.S. will continue to be the largest global consuming nation of nutraceutical ingredients for the next five years, reflecting the continually burgeoning array of functional beverages/foods, natural remedies and dietary supplements. North American demand for nutraceutical ingredients will rise from a market value of $3824m in 2008 to $4890m by 2013, predicts the report. Annual growth in the market will decrease slightly from 7.7% last year to 5% in four years.

Worldwide demand of nutraceutical ingredients are expected to reach $21.8 billion by 2013.

We believe that production and innovation, along with increased investments in research that proves safety and efficacy will drive continued growth and success in the industry.

For more information about the report, see The Freedonia Group website: www.freedoniagroup.com

Tags: functional, industry, ingredients, market, nutraceutical, report