According to BCC Research, the worldwide nutraceuticals market was estimated at around $151 billion in 2011.
Importantly, the research firm expects the market to reach almost $207 billion by the end of 2016, which would represent a Compound Annual Growth Rate (CAGR) of 6.5% between 2011 and 2016.
The U.S. is by far the biggest nutraceuticals market. By 2017, the U.S. nutraceuticals market is expected to reach $75.3 billion at a CAGR of 6%. According to Research and Markets, the significant growth in the U.S. nutraceuticals market is being driven by factors such as the rising consumption of dietary supplements and the booming functional food & beverages market.
While the nutraceutical market can be broken down into three different segments---dietary supplements, functional food and functional beverages---the market is dominated by dietary supplements. The market is also benefiting from increasing focus on e-commerce as well as innovation.
Indeed, innovation is a very crucial aspect of the market and this morning Neutra Corp. (OTCBB:NTRR), a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions such as cannabis-related products, announced that it continues to develop new neutraceutical applications for the Diamond Anvil vapor pen.
In this regard, NTRR is making plans to expose the innovative product offering to new global markets beyond the legal cannabis industry. The company this morning said that it intends to adapt its technology to deliver vitamins, minerals and other nutraceuticals across multiple industries. Given the anticipated growth in the worldwide nutraceutical market, this could be a potential game-changer for the company.
According to Chris Brown, CEO of Neutra Corp., it was the success of vaporizers and other smoke-free devices in the cannabis industry that gave the company the idea to leverage this technology’s potential. Brown said, "We are in the midst of developing new methods to deliver vitamins, herbal extractions, anti-smoking aids and other nutraceutical remedies that are currently taken in more unpleasant and inefficient ways."
NTRR seeks to leverage its existing experience with electronic inhalation devices. The company’s vapor pen, which was originally developed by Diamond Anvil Designs, is a very versatile portable vaporizer. It is different from competing products in that it can accommodate dry herbs, oils, waxes and other extractions.
It will be interesting to see how NTRR moves forward on its grand plan that has the potential to significantly boost its earnings and stock price. If the company’s plan is successful, it can expect robust earnings growth, given the bullish outlook for the worldwide nutraceutical market.
