The U.S. Nutraceutical Market has experienced rapid growth over the past years.
The number of lifestyle related diseases is constantly increasing, leading to a sharper focus on well-being and consumption of naturally advanced products. The market has shifted to nutraceuticals to play a central role in preventative healthcare.
Compared to the pharmaceutical industry faced with regulatory and logistical challenges this speedy developing sector presents a significant opportunity for the future.
Fueled by consumer demand, product innovation and low regulatory hurdles, the U.S. Nutraceutical Market is expected to dominate the global market in terms of demand over the forecast period.
The U.S. Nutraceutical Market is expected to continue to grow at a CAGR of 5.30% between 2016 and 2024 and the market’s value is estimated to reach US$102.6 billion by the end of 2024.
(According to the report by Zion Market Research Sarasota, FL, Jan. 11, 2017)
The American nutritional healthcare market holds strong potential for US importers and will continue to grow. While the potential is great, so is the risk and market entry challenge when it comes to selling international products in the USA.
The critical task for importers is to comply with the FDA regulatory requirements. Whether a foreign firm is making product health claims will impact the path of registration. Registration must be handled by a legally registered agent in the USA.
As importers plan to reach into multiple sales channels, it is vital to understand a highly-fragmented system of the U.S. distribution and retail network. Furthermore, foreign companies should take measures to protect their brand, domain name or trademark. In such an environment, having a trusted partner is the cornerstone to success.
At CCI Pharm our objective is to help our clients to identify the best venue for their product entering the U.S. market. We are highly attuned to the U.S. market needs and aim to provide clients with the best business solutions to meet the specific challenges of their products.
Whether you are looking for market assessment or partners, regulatory or launch strategy, product positioning or distribution, sales channel or product commercialization, we turn your challenges into our solutions.