Research Nester released a report titled “Nutraceutical Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global nutraceutical packaging market in terms of market segmentation by material type, by product type, by nutraceutical product and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Nutraceuticals are a combination of pharmaceuticals and nutrients which are produced in the form of health supplements and include various food products such as designer foods and medicinal products. These products require certain regulations for their packaging as it is necessary to protect the potency of nutraceuticals and prevent formation of any toxic components before consumption.
The market for nutraceuticals is anticipated to record a CAGR of 4.8% during the forecast period i.e. 2019-2027 and is estimated to cross over USD 4.2 billion by the end of 2027. The market is segmented by material type, by product type, by nutraceutical type and by region. Out of these, the material type segment is further divided into metal, glass, paper and paperboard, and plastic. The paper and paperboard segment is estimated to witness the highest growth on the back of increasing environmental concerns and negative impacts of plastic on the environment.
North America is anticipated to hold the largest market share in the global nutraceutical packaging market on account of growing demand for healthy food products with an increased shelf life coupled with increasing inclination of people towards a healthier lifestyle. Europe is another region estimated to witness significant growth in the market as a result of increasing opportunities in the nutraceutical sector. However, the region expected to observe the fastest growth of the market during the forecast period is Asia-Pacific. This can be attributed to the rising development in countries such as China and India.
Rising Demand for Nutraceuticals To Boost The Market Growth
The nutraceutical packaging market is estimated to grow on account of rising awareness about healthy lifestyle and adoption of healthy food habits by people. The growing demand for healthy food supplements and increasing expenditure on health and fitness activities also contribute to the growth of this market. The preference of paper and paperboard products over plastic, metal and glass products is another factor driving the growth of the market.
Overcoming The Barriers in Nutraceutical Packaging Market
The highly expensive nutraceutical products might not be affordable for the majority of consumers which forms a key restraint for the growth of the market. Another major factor which is anticipated to negatively affect the growth of the market is the unavailability of environment-friendly packaging materials. However, this problem can be solved by spreading awareness and increasing the development and production of paper packaging materials.
This report also provides the existing competitive scenario of some of the key players of the global nutraceutical packaging market which includes company profiling of MJS PACKAGING, AMGRAPH Packaging Inc., NuEra Nutraceuticals Inc., JohnsByrne Company and Glenroy Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global nutraceutical packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.