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"The global nutraceutical packaging market size is estimated at approximately US$ 3.5 Billion during the forecast period, 2020-2028."
Functional products, nutritional supplements, phytochemicals, and food designers fall within the nutraceutical group. Nutraceutical products are medicinal and therapeutic. Through growing awareness and understanding of nutrition and health, people are increasingly interested in nutraceutical products. Nutraceutical packaging is therefore vital to the prevention of external contamination of nutraceutical products. Nutraceutical packaging is important to avoid internal contamination of nutraceuticals and to improve oxidation resistance. Increasing growing awareness and understanding of health and nutrition, people are becoming more interested in nutraceutical products. Worldwide, films, bottles, bags, and pouches are used for the packaging of nutraceutical products. Increasing awareness of health and weight management plays a crucial role in the demand for the global market for nutraceutical packaging. Likewise, opportunities for creative packaging solutions are projected to draw a broader consumer base for nutraceutical packaged products. Increased health and well-being spending by individuals around the world are expected to improve the growth of the global market for nutraceutical packaging in the future. Increased per capita income in the world will further lead to increased demand for nutraceutical packaging. Nonetheless, the high cost of nutraceutical packaging items is expected to be a major challenge for the nutraceutical packaging industry in the coming years.
On the basis of product type, shift towards healthy lifestyle boosting the demand for Dietary Supplements in Global Nutraceutical Packaging.
Consumption of vitamins and supplementary nutrients is steadily increasing due to critical health concerns such as diabetes, hypertension cardiovascular disease, osteoarthritis, osteoporosis, etc. In fact, insufficient nutrition from the food eaten contributes to a nutrient deficit that is balanced by dietary supplements and supplemental nutrients.
Increasing awareness of weight management and safety is likely to play an important role in the demand for a global market for nutraceutical packaging. Similarly, growing prospects for novel packaging technologies are expected to build a larger consumer base for nutraceutical packaged products. The global market for nutraceutical packaging is likely to experience an elevated rate of growth due to increased customer acceptance of nutraceutical products. The market is expected to gain momentum from the health benefits of nutraceutical goods. In addition, a growing inclination of people to spend on fitness and wellness programs is likely to boost the global market for nutraceutical packaging.
Rise in consumer’s per capita income boosting the growth of Global Nutraceutical Packaging Market
The rise in consumer's per capita income across the globe is another factor that promotes growth in the global market for nutraceutical packaging. In fact, healthier lifestyles are expected to contribute to the growth of the market. Moreover, the global market for nutraceutical packaging is expected to face some of the difficulties of the high cost of nutraceutical packaging in the projected time frame.
Millennials are actively involved in gyms and athletics. We also favor protein powders, protein shakes, and nutritional drinks more than multivitamins and tablets. Generation X people are more focused on work and balancing personal life. We need nutrients for the treatment of middle-aged diseases.
North America is expected to hold a substantial share in Nutraceutical Packaging Market
North America is expected to hold xx% share of the nutraceutical packaging market across the globe. The demand for longer shelf life for food products in the North American region is expected to fuel the market for nutraceutical packaging. Europe is projected to be one of the main regions with a mature pharmaceutical industry, which will translate into growth opportunities for the nutraceutical packaging market.
Asia Pacific is expected to be the fastest-growing nutraceutical packaging market due to the high population and the emergence of the fastest-growing economies, such as China and India. Throughout Africa, some underdeveloped economies remain an obstacle to the rapid growth of nutraceutical packaging in the region. Whereas the demand for nutraceutical packaging in developing economies, such as South Africa, is expected to grow in Nigeria in the coming years. In addition, improving financial conditions and demand for natural nutraceutical products are key drivers for the nutraceutical packaging industry in Latin America and the Middle East. Nonetheless, strict government regulations on the manufacture and sale of nutraceutical products are likely to restrain the growth of the demand for nutraceutical packaging.
MJS Packaging, PolyOne Corporation, Maco Bag Corporation, Glenroy Inc., Johnsbyrne Company, Birchwood Contract Manufacturing, NuEra Nutraceutical Inc, MOD-PAC Corporation, Hughes Enterprises, Amgraph Packaging are some of the key players operating in the global nutraceutical packaging market. Many unrecognized and local players are expected to contribute to the global nutraceutical packaging market during the projected period.
Nutraceutical Packaging Market Segmentation:
Product Type Segment:
- Dietary Supplements
- Functional Food
- Functional Beverages
Packaging Type Segment:
- Bags & Pouches
- Cans and Jars
- Stick PacksOn
- Blister Packs
Material Type Segment:
- Paper and Paperboard
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa