As forecasted by XploreMR in a recent market study, the global nutraceutical packaging market is on a positive growth trajectory during the forecast period (2019 - 2029). Nutraceutical packaging provides protection against oxidizing agents, and is an essential process to prevent external contamination of nutraceuticals products such as functional foods, nutritional supplements, phytochemicals, and designer foods. Generally, products such as films, bottles, bags, and pouches are used for the packaging of nutraceuticals. The growing demand for nutraceutical products from the consumers has consequentially increased the requirements for the adequate nutraceutical packaging. Moreover, the ease of printing has increased preference for packaging from both the manufacturer and the consumers.
Rising Demand for Nutraceutical Products Drive Market Growth
Increased health benefits associated with nutraceutical products, and high spending by people on fitness and wellness are the primary attributes of the market growth. The rising per capita income across the world and the subsequent disposable income are significantly contributing to the growth of the nutraceutical packaging market further. In addition to the developing financial conditions, increasing health consciousness and preference for healthier lifestyles among people is propelling the demand for nutraceutical packaging. The increasing usage of UV ink labels, which prevent the packed product from counterfeiting, and blister packs in packing medicines and capsules, is giving impetus to the overall market. Likewise, the usage of eco-friendly plastics - with bottles being the most popular product - is creating lucrative opportunities for the global nutraceutical packaging market. On the flip side, the high expense of nutraceutical products could pose a challenge to the swift growth of the market.
North America Reigns Supremacy while Asia Pacific Flourishes
The North American region leads the regional landscape of global nutraceutical packaging, accounting for the majority of market share. The region’s dominance is primarily attributed to the high demand for nutraceutical products in the U.S. and Canada. Closely following behind North America is Europe, which is expected to remain the second most lucrative region for nutraceutical packaging. On the other hand, Asia Pacific is anticipated to exhibit tremendous growth during the forecast owing to the shift in the region’s huge population towards healthy lifestyle coupled with increasing per capita income.