Future Market Insights (FMI) delivers key insights on the global nutraceutical packaging market in its published report that considers the global industry analysis 2014-2018 and opportunity assessment 2019-2029. The global nutraceutical packaging market is projected to be valued at ~US$ 3 Bn 2019, and is expected to surpass US$ 5 Bn revenues by 2029.
The report includes a market research study on the global nutraceutical packaging market, which provides functional food & beverage and pharmaceutical product packaging trends, as well as overall market analysis by considering essential factors such as product form, suitable packaging material, and type of packaging requirement.
Flexible Packaging Preferable over Rigid Packaging
Nutraceutical packaging is gaining more traction for maintaining the shelf life of a product. The future of nutraceutical packaging involves antimicrobial food contact material, which controls chemical reactions, harmful bacterial effects, fungi concentration, and unpleasant odour from the stored product. Further, it is observed that flexible packaging constitutes a major value share of nutraceutical packaging, primarily owing to its light weight and superior barrier properties. Flexible nutraceutical packaging provides clear visibility to the product along with ease of handling during transportation.
However, the nutraceutical packaging material and type depends upon product form and quantity. Due to the benefits of flexible nutraceutical packaging, bags and pouches are highly preferred for storing protein powders and other granules. With growing emphasis on extended shelf life, it is highly likely that the vacuum skin packaging (VSP) and modified atmosphere packaging (MAP) formats will gain more prominence in market. A significant incremental opportunity has been projected for VSP & MAP types in the global nutraceutical packaging market.
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A Growing Consumer Shift to Preventative Care
The nutraceutical packaging market is dynamic and continuously evolving with growing consumer focus on health and wellbeing. Nutraceutical packaging industries are continuously tracking consumer trends and demands with respect to functional food, dietary supplements, and functional beverages. The consumption of food supplements and additional nutrients is consistently increasing due to critical health issues such as diabetes, hypertension, cardiovascular ailments, osteoarthritis, osteoporosis, etc.
Increasing health consciousness and consumer demand for specific natural ingredients in food supplements are driving the growth of the nutraceutical market in the U.S. Consumers have more faith on natural ingredients over medicines. Hence, the manufacturers of nutraceuticals are diversifying their portfolio with the inclusion of herbal and natural contents in the supplements. New opportunities for nutraceutical packaging industries are anticipated with the addition of product portfolio and increasing consumption of nutrients. In the U.S. market, it is observed that the consumption of nutraceuticals is more among elder people in order to handle aging problems. Hence, the future growth of the nutraceutical packaging market is dependent on youth, who prefer nutraceuticals for physical fitness, gym, and sports activities.
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Nutraceutical Packaging Market: Key Developments & Trends
European Union (EU)-funded project NanoPack aims to develop packaging solutions that increase product life after packaging by using novel antimicrobial surface application on the food packaging product surface. The NanoPack antibacterial film extends the shelf life of the product by two days. This two day-increase in shelf life increases product saleability by 40%.
The other trends witnessed in the nutraceutical packaging market include digital mass serialization, inclusion of artificial intelligence, and NFC chip & sensor-based packaging. In addition to this, key players have more emphasis on the combination of child-resistant and tamper-evident packaging.
- On 7thAug 2018, Amcor Limited acquired Bemis Company Inc., a leading pharmaceutical company to enhancing its product portfolio and ensure maximum reach to customers.
- On 20thJune 2018, Mondi Group Plc. completed the acquisition of National Company for Paper Products and Import & Export S.A.E (NPP) based in Egypt.
- In February 2019, Gerresheimer AG introduced Duma Standard containers made of child-resistant wrap in Paris.
Amcor Ltd, Gerresheimer AG, Mondi Group PLC, Alpha Packaging Inc., RPC Group, Graham Packaging, Sonoco Products Company, Constantia Flexibles Group GmbH, ALPLA Werke Alwin Lehner GmbH & Co KG, Flex-pack, Law Print & Packaging Management Ltd., American Nutritional Corporation, Wasdell Packaging Group, PontEurope, Arizona Nutritional Supplements, LLC., Comar, LLC., Medifilm AG., Origin Pharma Packaging, CSB Nutrition Corporation, and Nutra Solutions USA are the key companies involved in the nutraceutical packaging market.
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