Nutraceutical Packaging Market

According to Stratistics MRC, the Global Nutraceutical Packaging Market is accounted for $3.18 billion in 2022 and is expected to reach $4.69 billion by 2028 growing at a CAGR of 6.7% during the forecast period. Nutraceutical products can be functional foods, drinks, or other goods that derive their nutrition or medicinal properties from food. The terms "nutritraceuticals" can also refer to "phytochemicals, "designer foods," "functional foods, "medical foods," and "dietary supplements." The protection provided by the packaging for nutraceuticals against oxidizing agents and external contamination is crucial. Other products used for nutraceuticals include bottles, pouches, bags, and films. These goods may be made from a variety of materials, such as paper and paperboard, glass, plastic, and metal.

According to the World Health Organization (WHO), chronic diseases and imbalanced diets are increasing along with under nutrition and specific nutrient deficiency incidences. In addition, WHO estimates that by 2030, there will be more than 50 million premature deaths globally due to lifestyle-related diseases such as cardiovascular disease (CVD), cancer and diabetes.



Market Dynamics:

Driver:

Growing global urbanisation

Consumers all over the world are becoming more conscious of the significance of nutrition and its direct connection to their health and are actively seeking information about these topics. People are actively becoming more interested in their diets and looking for natural food products that may provide a direct medical benefit, thanks in large part to social media and online health magazines. The millennial generation is actively looking for ongoing lifestyle improvements and is constantly experimenting with new diets and health supplements. People are becoming more conscious of their health and weight management as their knowledge of nutrition and health grows.

Restraint:

High cost of nutraceutical packaging

The cost of packaging for nutraceuticals has been steadily rising over the past few years, which has reduced consumer demand and increased the overall cost of the finished product. The high price of raw materials like PE, PET, and HDPE, which are used to make packaging for supplements such as bottles, jars, and pouches, is primarily to blame. Furthermore, manufacturers are investing in recycling facilities due to increasing regulatory pressure on plastic packaging materials and rising consumer interest in sustainability, which raises the cost of packaging-related activities in general. A significant increase in counterfeiting activities has also been observed in the nutraceutical industry.

Opportunity:

Sustainable and eco-friendly packaging

The Nutraceutical packaging industry presents significant opportunities for companies looking to enter the market. As the demand for sustainable and eco-friendly packaging options continues to rise, there is a need for innovative and cost-effective packaging solutions. Companies can focus on developing packaging materials that offer high protection and preservation of the product while being sustainable, which will spur the market for Nutraceutical Packaging to rise faster.

Threat:

Stringent packaging mandates from governments

Supply chain management includes packaging in large part. Throughout the entire supply chain process, it safeguards finished goods. But there are a number of problems with the packaging industry. One is that hazardous substances are included in food and beverage packaging. Another issue is that packaging is now a major source of pollution on a global scale. It is currently one of the world's most serious problems. And it will stay that way until the industry complies with the laws and regulators strictly enforce them. Governments in various nations have established and enacted laws to address these grave issues as a result. Global packaging regulations are now in place to guarantee compliance and sustainability across all industries. Numerous other products, including food, cosmetics, clothing, and perfumes, have their own packaging rules. Thus, it is anticipated that the aforementioned factors will limit market growth throughout the forecast period.

Covid-19 Impact:

The COVID-19 pandemic outbreak had a favourable effect on the market for nutraceutical products. It led to a rise in consumer awareness of good health and robust immunity. People began purchasing nutritional goods in large quantities as a result. Due to consumers' increased propensity to buy in bulk during the lockdowns, the demand for functional food and beverages as well as nutraceutical products with vitamins, minerals, zinc, sodium, and omega-3 fatty acids skyrocketed. This encouraged the introduction of numerous products to meet the escalating demand.

The plastic segment is expected to be the largest during the forecast period

During the forecast period, plastic is anticipated to have lucrative growth for nutraceuticals. Plastic is renowned for offering customers a number of significant advantages. Plastic, for instance, is useful. It is also much lighter than glass, which makes it simpler to handle and transport. Additionally, it is much more forgiving when bumped, dropped, or otherwise disturbed, leading to less breakage. These characteristics make plastic a simple and stress-free replacement for glass for active lifestyles.

The functional food segment is expected to have the highest CAGR during the forecast period

The segment for functional food is anticipated to grow at the highest CAGR over the forecast period. The rise in fitness enthusiasts and rising consumer interest in leading healthy lifestyles are credited with this segment's growth. Additional factors that are anticipated to support the growth of this market segment during the forecast period include the rising demand for functional food due to the availability of new flavours, the expanding e-commerce sector, an increase in the consumption of regular sports drinks, and a rise in health expenditure.

Region with largest share:

The North America region market is estimated to witness a highest share of the global Nutraceutical Packaging market during the forecast period, due to factors like people adopting healthier lifestyles on a larger scale. One of the main drivers of market expansion is rising dietary supplement consumption. The North American nutraceutical packaging market has grown significantly as a result of various industries adopting cutting-edge packaging technologies and solutions.

Region with highest CAGR:

Asia-Pacific is slated to register the fastest growth rate during the forecast period due to the increasing demand for dietary supplements, rising awareness regarding the health benefits of nutritional products, increasing disposable incomes, rapid urbanization, and rising health wellness trends. Additionally, the accelerated economic development of nations like China, Japan, and India is fuelling an increase in the demand for fortified nutritional food and beverage products, which are anticipated to further support the expansion of this market over the course of the forecast period.



Key players in the market

Some of the key players in Nutraceutical Packaging market include MJS PACKAGING, Alpha Packaging, AMGRAPH Packaging, Inc., Birchwood Contract Manufacturing, Comar, LLC., Container and Packaging Supply, Inc., ePac Holdings, LLC, Gerresheimer AG, Glenroy, Inc., Graham Packaging Company, JohnsByrne Company , Law Print & Packaging Management Ltd., Maco Bag Corporation, MOD-PAC Corp., Hughes Enterprises, MPS (Moulded Packaging Solutions), NuEra Nutraceuticals Inc., OPM Labels, PolyOne Corporation

Key Developments:

In April 2021, Origin Pharma Packaging, a leading name in the pharmaceutical packaging industry, announced the launch of its new packaging design agency for its nutraceutical businesses. Design Innovation Development (DiD) will be working with international firms as well as local businesses to provide customized packaging solutions.

In January 2021, Amcor plc has been recognized by CDP and was awarded A- grade for climate change by highlighting the company’s decisive action towards more sustainable future. This helped the company to gain recognition.

In April 2020, Berry Global, Inc announced Investment to Increase Production Capacity of Ultra High Performance (UHP) Machine and Hand Stretch Films. The company has invested approximately USD 30 million to increase production capacity for ultra-high performance stretch films. This investment has helped the company to full increasing customer demand for ultra-high performance stretch films.

Packaging Types Covered:
• Bottles
• Cans & Jars
• Cartons
• Bags & Pouches
• Stick Packs
• Blister Packs
• Other Packaging Types

Material Types Covered:
• Plastic
• Glass
• Metal
• Paper & Paperboard
• Other Material Types

Product Types Covered:
• Functional Food
• Functional Beverages
• Minerals and Vitamin Capsules
• Protein Powder
• Other Product Types

Product Forms Covered:
• Tablets & Capsules
• Powder & Granules
• Liquid
• Solid

Ingredients Covered:
• Vitamins
• Minerals
• Prebiotics
• Probiotics
• Amino Acids
• Omega 3 Fatty Acids
• Other Ingredients

End Users Covered:
• Pharmaceutical
• Food retail
• Healthcare
• Packaging
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances