In today’s market, huge and growing numbers of consumers have strongly adopted an all-time healthier approach to the purchasing of their food. Today’s consumers are reading labels more than ever, in their search for clean, organic options, free of pesticides, preservatives and chemicals. In addition, the continued exploration for healthier food choices, has led the general public toward a newer trend whose popularity has been growing in leaps and bounds. This new phenomenon, known as plant-based eating, is currently taking the world, and in particular, the diet market, by storm. In fact, retail sales of plant-based foods rose by 11% in 2019 and brought in a total of $4.5 billion . Those numbers continue to rise as the plant-based food market is expected to increase its earnings to $6.43 billion by 2024.
Scientific research has demonstrated that plant-based food alternatives are an excellent source of protein, fiber, water, and complex carbohydrates. Moreover, investigation and experimentation in this area, strongly suggests that eating a plant-based diet can assist in the prevention and management of obesity, heart disease, diabetes and hypertension, as well as many other chronic illnesses. All of these factors come together to make plant-based eating a very attractive and important lifestyle addition.
Nutraceuticals, although currently lacking an official definition, are generally defined as foods containing health-promoting ingredients, in the form of medicines and nutritional supplements. They’re known to enhance health, as well as treat & prevent disease and chronic illness. Many nutraceuticals are made from natural and functional plant-based foods, such as fruits and vegetables.
As the focus on health enhancement through plant-based food continues to grow, so too will the public’s usage of Nutraceutical supplements and medicines. In 2016, the nutraceutical market reached earnings of just under $199 billion and this number is expected to grow to an exciting $285 billion by 2021. That’s a most impressive CAGR (compound annual growth rate) of 7.5%. As consumers become increasingly aware of the benefits of plant-based food for promoting a healthy lifestyle, it stands to reason that nutraceutical, plant-based food supplements and medications will continue to grow in popularity as they serve to support and assist all those following a plant-based lifestyle. When it comes to Nutraceuticals and plant-based living, there’s quite a lot to look forward to. The best is yet to come.
We know just how difficult it is for start-up and experienced Nutraceutical companies to obtain and keep your “high risk” merchant account. If you’re in need of assistance, you need to talk with us. We’re First Card Payments and we can and will end your struggles today. We’ve been in the “high risk” merchant account business, for your industry and many others, for twenty years. We have the experience, know-how and contacts necessary to get the job done quickly and easily at a very fair rate. First Card Payments is consistently 25% less than our competitors when it comes to fees, guaranteed! We walk the talk! Once we get you your merchant account, we’ll remain with you for the long haul and do all we can to support you in keeping it. We’re always there when and if you need us. That’s our promise to you and we won’t let you down.
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: U.S. Plant-Based Retail Market Worth $4.5 Billion, Growing at 5X Total Food Sales