New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nutraceutical Packaging Global Market Report 2022" - https://www.reportlinker.com/p06244980/?utm_source=GNW
, Amcor Limited, Constantia Flexibles, Huhtamäki Oyj, Mondi plc. and Sonoco.
The global nutraceutical packaging market 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 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 market is expected to reach $4.68 billion in 2026 at a CAGR of 5.8%.
The nutraceutical packaging market consists of sales of nutraceuticals packaging products by entities (organizations, partnerships, and sole traders) that include the food products offered in the medical form. Nutraceutical packaging is used to pack foods such as herbal products, processed food items (examples: beverages, cereal, soup), dietary supplements, genetically engineered food, isolated nutrients to prevent contamination.
The main types of products in nutraceutical packaging are polyester, paper, BOPP, aluminum, metallzed polyester, others.Polyester, also known as PET, is a chemically resistant material that does not react with food or liquids.
It is also shatter-resistant and can be used to build containers instead of glass.The different packaging types include bottles, cans and jars, bags and pouches, cartons, stick packs, blister packs, others and uses various materials such as metal, glass, paperboard, plastic, polyethylene, polypropylene, others.
It is used by several sectors including food and beverages, pharmaceuticals, consumer goods, nutraceuticals, others.
North America was the largest region in the nutraceutical packaging market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 food provides medical or health benefits that include the prevention or treatment of a 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.
Artificial Intelligence is a key trend gaining popularity in the nutraceutical packaging market.Major companies operating in the nutraceutical packaging sector are adopting new technologies such as artificial intelligence to meet the demand of customers.
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.
In May 2019, SGH Healthcare Group, a France-based manufacturer of standard and smart plastic solutions acquires Eskiss Packaging for an undisclosed amount.Through this acquisition, SGH Healthcare expects to become Europe’s leading plastic processing firm for medical devices, as well as explore new potential in the nutraceutical industry.
Eskiss Packaging is a France-based nutraceutical packaging company.
The countries covered in the nutraceutical packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244980/?utm_source=GNW
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