LONDON, Feb. 22, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the nutraceutical packaging market, the shift towards a healthier lifestyle is expected to propel the growth of the nutraceutical packaging market going forward. People are getting more interested in natural food products that provide a direct therapeutic advantage because consumer awareness and knowledge about the relationship between health and nutrition is increasing. Nutraceutical foods provide medical or health benefits that include the prevention or treatment of disease. For instance, according to a poll by E Times in 2021, the COVID-19 pandemic has transformed Indians' attitudes toward health, with 70% saying they will prioritize food and lifestyle adjustments in 2021 to manage both physical and emotional health. Therefore, the increasing adaption of a healthy lifestyle is driving the growth of the nutraceutical packaging market.
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The global nutraceutical packaging market size is expected to grow from $3.41 billion in 2021 to $3.73 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global nutraceutical packaging market share is expected to reach $4.68 billion in 2026 at a CAGR of 5.8%.
Artificial Intelligence is gaining popularity amongst the nutraceutical packaging market trends. Major companies operating in the nutraceutical packaging sector are adopting new technologies such as artificial intelligence (AI) to meet customer demand. For instance, in July 2020, Efficacy AI, a US-based firm, launched MedicascyAI, which employs artificial intelligence to help nutraceutical and supplement companies bring new products to market faster. The MEDICASCY artificial intelligence solutions network (MedicascyAI) will help the nutraceutical business rely less on secondary science and steer primary research toward more fruitful outcomes.
Major players in the nutraceutical packaging market are Glenroy Inc., Maco Bag Corporation, JohnsByrne, Birchwood Contract Manufacturing, NuEra Nutraceuticals Inc., MOD-PAC Corp., Hughes Enterprises, Amgraph Packaging Inc., Amcor Limited, Constantia Flexibles, Huhtamäki Oyj, Mondi plc, and Sonoco.
The global nutraceutical packaging market is segmented by product type into polyester, paper, BOPP, aluminum, metallized polyester, others; by packaging type into bottles, cans and jars, bags and pouches, cartons, stick packs, blister packs, others; by material type into metal, glass, paperboard, plastic, polyethylene, polypropylene, others; by end-user into food and beverages, pharmaceuticals, consumer goods, nutraceuticals, others.
As per TBRC’s nutraceutical packaging market analysis, in 2021, North America was the largest region in the market. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nutraceutical packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Nutraceutical Packaging Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide nutraceutical packaging market overviews, nutraceutical packaging market analyze and forecast market size and growth for the whole market, nutraceutical packaging market segments and geographies, nutraceutical packaging market trends, nutraceutical packaging market drivers, nutraceutical packaging market restraints, nutraceutical packaging market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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