Nutraceutical Packaging Market to Grow at CAGR of 4.8% and Is Forecast to Reach by 2025 by MGA Study
Friday, September 06, 2019
The report covers forecast and analysis for the nutraceutical packaging market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the nutraceutical packaging market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the nutraceutical packaging market on a global level.
The global nutraceutical packaging market was valued at USD 2.89 billion in 2018 and is anticipated to be valued at around USD 3.9 billion in 2025, to grow at a CAGR of around 4.8% between 2019 and 2025.
Phytochemicals, designer foods, functional foods, medical products, and nutritional supplements are regarded as nutraceuticals. Nutraceutical packaging is vital in order to avoid internal contamination of nutraceuticals and provide improved oxidation resistance. With growing awareness and understanding of health and nutrition, people are becoming more interested in nutraceutical products.
Increasing consciousness about health and weight management is playing a crucial role in the demand for global nutraceutical packaging market. Similarly, growing opportunities in innovative packaging solutions is expected to attract a larger consumer base for nutraceutical packaged products. Increased fitness and well-being spending by individuals worldwide is anticipated to boost the growth of global nutraceutical packaging market in coming years. Worldwide increasing per capita income will contribute further to increased demand for the nutraceutical packaging market. However, high cost of nutraceutical packaging product is expected to be a major challenge for nutraceutical packaging market in the coming years.
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The global nutraceutical packaging market has been classified into product type, material type, and nutraceutical product type. Based on product type, the global nutraceutical packaging market has been segmented into bottles, cans and jars, bags & pouches, cartons, stick packs, and blister packs. Bags and pouches segment is likely to have the largest value share among the product type segment of global nutraceutical packaging market. Based on material type, the global nutraceutical packaging market has been segmented into plastic, glass, metal, and paper and paperboard. Based on nutraceutical product type, the global nutraceutical packaging market has been segmented into functional food, functional beverages, minerals & vitamin capsules, protein powder, herbs, and others.
Global Nutraceutical Packaging Market: Product Type Segment Analysis
Cans and Jars
Bags & Pouches
Global Nutraceutical Packaging Market: Material Type Segment Analysis
Paper and Paperboard
On the basis of neutraceutical product, the global nutraceutical packaging market is segmented as –
Minerals & Vitamin Capsules
North America is the largest nutraceutical packaging market around the world. Demand for increased shelf life of food products in the North America region is expected to boost the nutraceutical packaging market. Europe is anticipated to be one of the key regions with a matured pharmaceutical industry, which will translate into growth opportunities for the nutraceutical packaging market. Asia Pacific is set to be the fastest growing nutraceutical packaging market because of high population and presence of fastest growing economies such as China and India. In Africa, some underdeveloped economies remain an obstacle for rapid growth of nutraceutical packaging in the region. Whereas, nutraceutical packaging market in developing economies such as South Africa, Nigeria is anticipated to grow in the coming years. Additionally, improved financial condition and demand for natural nutraceutical products are key driving factors for nutraceutical packaging market in Latin America as well as the Middle East. However, strict government regulations on production and application of nutraceutical products are anticipated to restrict the growth of the nutraceutical packaging market.
Key players operating in the global nutraceutical packaging market are MJS PACKAGING, PolyOne Corporation, Glenroy, Inc., Maco Bag Corporation, JohnsByrne Company, Birchwood Contract Manufacturing, NuEra Nutraceuticals Inc., MOD-PAC Corp., Hughes Enterprises, and AMGRAPH Packaging, Inc.
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