Increasing Adoption of a Healthy Lifestyle by People drives the demand for the Nutraceutical Packaging Market

The changing lifestyle has made consumers more aware regarding their health, owing to which consumers have been taking special care and concern about their eating habits. It includes day-to-day functions and behaviors of individuals in jobs, fun, activities and diet. According to World Health Organization, 60% of the factors such as jobs, activities, fun, and diet which are related to people health and quality of life are interrelated to their lifestyle. So, rise in the adoption of healthy lifestyle by individual by adding supplements to their day-to-day diet to fulfill the nutrient gap is anticipated to increase the consumption of nutraceutical products and propel the market growth rate.

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Data Bridge Market Research analyses that the Nutraceutical Packaging Market is expected to reach USD 7,357.44 million by 2028 from USD 4,771.54 million in 2020, growing at a CAGR of 5.6% in the forecast period of 2021 to 2028. The growing consumption of dietary supplements will provide potential opportunities for the market growth in the forecast period.

Growing consumption of dietary supplements is expected to drive the market's growth rate

Dietary supplements are those products which contain one or more dietary ingredients that aid in supplementing the diet. Nutritional supplements contain meal supplements, vitamins, minerals, herbs and products which help improve the nutrient levels. They are used to protect against health problems such as osteoporosis, cancer, stress, colds, heart attacks and tooth decay, correct various lifestyle deficiencies, increase energy and improve physical performance. Minerals and vitamins are the most frequently used dietary supplements by people all over the globe. As the demand for dietary supplements rises, there is a surge in the demand for nutraceutical packaging products, which is the major factor for the market's growth.

Report Scope and Market Segmentation

Segment Analysis:

The nutraceutical packaging market is segmented on the basis of type, material type, product type, package coating and specialty, nature, end use, application and end product form.

• On the basis of type, the nutraceutical packaging market is segmented into bottles, cans and jars, bags and pouches, cartons, stick packs, blister packs, display boxes, canister, and others. Bottles is sub-segmented into material type. Bottles segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.4% in the forecast period of 2021 to 2028 owing to easy availability of bottles.
• On the basis of material type, the nutraceutical packaging market is segmented into plastic, metal, glass, paper and paperboard, and others.

The plastic segment of material type segment is anticipated to dominate the nutraceutical packaging market

The plastic segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.8% in the forecast period of 2021 to 2028 owing to increasing demand of plastic material for packaging and growing technological advancements in the packaging sector.

• On the basis of product type, the nutraceutical packaging market is segmented into child resistant packaging, starter and demo kits, brand kits, on-the-go mobility, single use, stick packs, and others.

The product type segment of child resistant packaging segment is anticipated to dominate the nutraceutical packaging market.

The child resistant packaging segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.5% in the forecast period of 2021 to 2028 owing to the rise in demand for the child-resistant solutions to avoid accidental ingestion of lethal materials by children all over the globe.

• On the basis of package coating and specialty, the nutraceutical packaging market is segmented into gloss and raised UV coatings, pearlescent coatings, specialty coating, metallic sheens, reticulation effects, embossing and debossing, foil stamping, and others. The metallic sheens segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.5% in the forecast period of 2021 to 2028 because of increasing deployment of evolving metal printing technologies.
• On the basis of nature, the nutraceutical packaging market is segmented into conventional, eco-friendly, and recyclable. Recyclable is sub-segmented into less than 40% recyclable, 61-80% recyclable, 81-99% recyclable, and 100% recyclable. The conventional segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.0% in the forecast period of 2021 to 2028 owing to increasing awareness of the reuse and recycling of packaging.
• On the basis of category, the nutraceutical packaging market is segmented into regular packaging, and customized packaging. The regular packaging segment is expected to dominate the nutraceutical packaging market with a CAGR of 5.8% in the forecast period of 2021 to 2028 owing to easy accessibility and availability.
• On the basis of end use, the nutraceutical packaging market is segmented into retail and industrial. The industrial segment is expected to dominate the nutraceutical packaging market with a CAGR of 5.8% in the forecast period of 2021 to 2028 market because of growth in the demand for the nutraceutical products by industrial sector.
• On the basis of application, the nutraceutical packaging market is segmented into dietary supplements, medicinal foods, nutricosmetics, herbal products, isolated nutrient supplements, functional food, functional beverages, and others. The functional beverages segment is expected to dominate the nutraceutical packaging market with a CAGR of 6.3% in the forecast period of 2021 to 2028 owing to surge in the adoption of plant based beverages as an alternative to dairy beverages.
• On the basis of end product form, the nutraceutical packaging market is segmented into dry and liquid. Dry segment is expected to dominate the nutraceutical packaging market with a CAGR of 5.9% in the forecast period of 2021 to 2028 due to increasing demand of vitamin supplements, nutritional powders and gummies among others.

Major Players

Data Bridge Market Research recognizes the following companies as the major nutraceutical packaging market players in nutraceutical packaging market Huhtamaki (Finland), Brødrene Hartmann A/S (Denmark), UFP Technologies, Inc. (U.S.), Henry Molded Products Inc. (U.S.), EnviroPAK (U.S.), Robert Cullen Ltd. (U.K.), Heracles Packaging Co. S.A. (Greece), James Cropper plc. (U.K.), buhl-paperform GmbH (Germany), Pactiv LLC (U.S.), Footprint (U.K.)

Market Development

• In 2021, Origin Pharma Packaging, a leading pharmaceutical packaging industry, announced the introduction of its new packaging design agency for its nutraceutical companies. Design Innovation Development will be working with international firms and local businesses to deliver customized packaging solutions.
• In 2021, HEBE LIFE which is a U.K.-based nutricosmetics and supplements company has featured its products in a new packaging format. The new tamper-evident label is prepared with QR code that allows product authentication, band protection, geolocation tracking, anti-counterfeiting, and provides a packaging solution for smart consumers.
• In 2021, Assemblies Unlimited, Inc. declared that itwas expanding its assembly and packaging operations to New York and Los Angeles. This expansion aided the company in strengthening their services to numerous industries.
• In 2021, AB Tetra Pak declared that they have launched certified recycled polymers. It is the first company in food and beverage packaging sector to be awarded the roundable on sustainable biomaterials advanced products certification

 Regional Analysis

Geographically, the countries covered in the nutraceutical packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa

 As per Data Bridge Market Research analysis:

North America is the dominant region in nutraceutical packaging market during the forecast period 2021 to 2028

North America dominates the nutraceutical packaging market due to the growing consumption and production of nutraceutical packaging. North America will continue to dominate the nutraceutical packaging market in terms of market revenue and market share and will continue to flourish its dominance due to rising awareness regarding the numerous health benefits of nutraceutical packaging.

Asia-Pacific is estimated to be the fastest-growing region in nutraceutical packaging market the forecast period 2022 to 2029

Asia-Pacific is expected to grow during the forecast period of 2021 to 2028. This is mainly owing to the presence of large number of nutraceutical packaging suppliers in this region. Furthermore, growing demand for high quality packaging is also anticipated to drive the market rate growth in this region.

COVID-19 Impact Analysis

COVID-19 had a positive impact on the global nutraceutical packaging market. The consumption of nutraceuticals has augmented due to the COVID-19 pandemic globally, which has had an effect on the food and beverage sector. The COVID-19 aftermath has had a very advantageous effect on the nutraceutical packaging industry because customers are more expected to purchase nutraceuticals and other wellness products. In the wake of the pandemic, people's augmented attention to product shelf life and safety has augmented the demand for the cutting-edge packaging materials for nutraceuticals. However, the supply chain was rigorously disrupted due to a lack of resources and transportation in the pandemic. Despite the outbreak of COVID-19 pandemic, the manufacturers have been generating new opportunities by taking part in exhibitions to increase awareness regarding the benefits of nutraceuticals.

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