Nutraceutical Packaging Market

Nutraceutical Packaging Market Size (2023-2028)

The nutraceutical packaging market size was valued at US$ 3.18 billion in 2022 and is anticipated to grow to US$ 4.5 billion by 2028 and increase at a CAGR of 4.70% between 2023 and 2028. 

The rise of this industry has been accelerated by consumer demand for nutraceutical foods. Because of the convenience of printing over them, both the manufacturer and the consumers favor Nutraceutical Packaging. In the future, the nutraceutical packaging market is predicted to rise rapidly due to increased consumer awareness of overall health, weight control, and cognitive health. In addition, the Nutraceutical Packaging Market is expected to expand due to improved health benefits provided by nutraceutical products and increased expenditure on fitness and wellness by people around the world. Furthermore, the rising demand for processed meals such as soups, beverages, cereals, and herbal goods is causing the Nutraceutical Packaging Market to grow faster over the forecast period. Nutraceutical packaging is also essential for preventing internal contamination and improving oxidation resistance. Therefore, adopting novel packaging solutions would further increase numerous prospects for the Nutraceutical Packaging Market to develop in the foreseeable years. However, the high cost of nutraceutical packaging is projected to stifle the Nutraceutical Packaging Market's growth in the future.

Nutraceutical Packaging Market Drivers:

The nutraceutical packaging market is predicted to develop as people become more aware of the importance of good health, fitness, diet, and weight management. The international adoption of nutraceutical products is increasing, and the nutraceutical packaging business is predicted to increase in lockstep. People are actively taking more interest in their diets and seeking natural food products that may offer a direct medicinal benefit, thanks to social media and online health magazines, which have helped to create a massive global trend where people are actively taking more interest in their diets and seeking natural food products that may provide a direct medicinal benefit. Consumers in the millennial generation are incredibly interested in social media marketing. With an increasing number of athletes, artists, and other public figures and social media influencers with significant followings emphasizing the benefits of a fit and healthy lifestyle, millennials are flocking toward health regimes and improved diets, including nutraceuticals. In addition, the global trend of going to the gym, eating properly, and leading a healthy lifestyle is predicted to increase expenditure on fitness and well-being by the ordinary consumer. As a result, this growing trend of more significant spending on health and wellness is projected to continue. Nutraceutical packaging is critical because if the product is not handled and appropriately packaged, it might be damaged or even change in content. In addition, packaging for nutraceuticals is essential in safeguarding products from internal contamination and improving oxidation resistance. Nutraceutical goods are classified according to their type or form. Different interests are created and sold to customers in various formats, including tablets, capsules, liquid, powder, and other conditions. Because of rising disposable money and growing awareness of preventable health concerns, the average consumer is increasingly choosing a health-conscious lifestyle and diet. Therefore, the factors mentioned above, such as rising population, urbanization, and disposable income, are expected to help grow the worldwide nutraceutical packaging market in the future.

Nutraceutical Packaging Market Restraints:

The worldwide nutraceutical packaging industry is concerned with increasing the shelf life of nutraceutical food products. The high cost of nutraceutical packaging goods, on the other hand, is a significant restraint on the nutraceutical packaging market. Nevertheless, the worldwide nutraceutical packaging industry has room to grow due to increased disposable income levels worldwide.

NUTRACEUTICAL PACKAGING MARKET REPORT COVERAGE:

Market Segmentation:

By Packaging Type

• Bottles
• Cans & Jars
• Cartons
• Bags & Pouches
• Stick Packs
• Blister Packs
• Others

Bottles have become commonplace in the packaging of beverages, detergents, and other consumer items. Plastic bottles have various advantages, including robustness, energy savings, and ease of production, thanks to compounds like polyethylene terephthalate. In addition, bottles made of plastic are inexpensive to produce, safe to use, and recyclable.

By Material Type:

• Plastic

• Glass

• Metal

• Paper & Paperboard

• Others

Plastic-type is predicted to hold the most prominent nutraceutical market share during the forecast period. Plastic is well-known for providing consumers with several key benefits. Plastic, for example, is practical. Moreover, it is much lighter than glass, making it easier to transport and handle. In addition, when bumped, dropped, or disturbed, it is far more forgiving, resulting in less breakage. For today's active lifestyles, these properties offer plastic a stress-free and straightforward alternative to glass.

By End User:

• Pharmaceutical

• Food retail

• Healthcare

• Packaging

• Others

Pharmaceutical is anticipated to have the most significant nutraceutical packaging market share during 2022 - 2027. Nutraceuticals are compounds with physiological benefits or that protect against chronic diseases. Thus, nutraceuticals can be used to promote health, slow down the aging process, prevent chronic diseases, extend life, and maintain the body's structure and function.

Nutraceutical Packaging Market Regional Analysis: 

The Nutraceutical Packaging Market Report includes the segmentation of Regions:

• North America 
• Europe
• Asia Pacific 
• Latin America
• Middle east and Africa 

The worldwide nutraceutical packaging industry is expected to grow at the fastest rate in North America. The expansion of the nutraceutical packaging market in North America can be ascribed to rising per capita disposable income and increased healthcare spending in the region.

In the worldwide nutraceutical packaging industry, Europe is predicted to have the second-highest demand. Moreover, the allegation is expected to be bolstered by the region's increased penetration of nutraceutical items.

The Asia Pacific area is likely to offer the most incremental potential for nutraceutical packaging. Due to the region's large population and growing economies such as India and China, the region is expected to see rapid growth in nutraceutical packaging.

Impact of COVID-19 on the Nutraceutical Packaging Market:

As a result of stalled manufacturing and a significant drop in demand for luxury and non-essential services worldwide, the COVID-19 issue is anticipated to impact the nutraceutical packaging business negatively. The COVID-19 crisis created a mixed impact on the packaging business, owing primarily to the global closure of physical retail outlets. However, the high impact of this shutdown has been mitigated by the availability of online retailing. Although e-commerce enterprises would have to focus on protecting goods and sanitizing packages, the demand for e-commerce-specific packaging is anticipated to stay high. Furthermore, the food packaging business is at the forefront of the global packaging market, owing to increased demand for critical products like groceries and fresh food, mostly from local e-commerce sites. During the first two quarters of 2020, demand for non-essential commodities caused a dramatic drop in industrial, transportation, and bulk packaging. The packaging sector may experience tremendous pressure to reduce wholesale and retail costs due to the general public's lower disposable income and weak demand for packaging from industrial goods. After the COVID-19 incident, consumers are likely to remain cautious about purchasing luxury goods, traveling, and using hospitality services, which is projected to stifle the packaging industry's growth in the future.

Recent Developments in the Nutraceutical Packaging Market:

Glenroy Inc. has introduced a line of flexible, environmentally friendly packaging for food, pharmaceuticals, nutraceuticals, pet food and treats, personal care, and household products.

Nutraceutical Packaging Market Key Players:

The companies covered in the report include:

1. MJS PACKAGING

2. PolyOne Corporation

3. Glenroy, Inc.

4. Maco Bag Corporation

5. JohnsByrne Company

6. Birchwood Contract Manufacturing

7. NuEra Nutraceuticals Inc.

8. MOD-PAC Corp.

9. Hughes Enterprises

10. AMGRAPH Packaging, Inc