Nutraceutical Packaging Market: Current Analysis and Forecast (2022-2028)

Report Description

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The global nutraceutical packaging market is likely to showcase a growth of around 5% during the forecast period 2022-2028. The global nutraceutical packaging industry is mainly dependent upon the performance of the nutraceutical industry. The last couple of years has provided solid growth momentum to the nutraceutical industry as consumers are looking for products that can help in increasing immunity in order to fight against disease like COVID-19. Penetration of nutraceuticals in consumers’ daily life is also on the rise due to easy accessibility and reduced counterfeiting cases with the availability of e-commerce. Rising sales of nutraceuticals have proliferated the entire supply chain ecosystem including the nutraceutical packaging providers. The legalization of cannabidiol in countries like the US and Canada has opened new growth opportunities for packaging manufacturers. However, the packaging manufacturer faces several challenges including a severely competitive environment, a high economy of scale, low brand identity, and fluctuating raw material prices.

Insights Presented in the Report

“Amongst packaging type, bottles & jars is likely to show positive growth trend”

Based on packaging type, the market is categorized into bottles & jars, bags & pouches, blisters & strips, sachets, and others. Among these, bottles & jars accounted for a significant share of the market and is expected to showcase robust growth during the forecast period. This can be ascribed to the sale of a large number of nutraceutical products in this type of packaging including protein and micronutrient products. The increasing trend of going to the gym among baby-boomer and millennials is driving the demand for pre-, intra-, and post-workout supplements which are expected to drive the market for bottles & jars.

“Amongst packaging material, plastic held a prominent position in the market in 2020”

Based on packaging material, the market is categorized into glass, plastic, metal, and paper and cardboard. Among these, the plastic category captured a significant portion of the market. A plastic type of packaging is among the most preferred among nutraceutical manufacturers owing to low handle cost, less chance of breakage, and low cost compared to other types of packaging.

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“Asia-Pacific is likely to showcase significant growth during the forecast period”

For a better understanding of the market adoption of Nutraceutical Packaging, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-Pacific accounted for a significant share of the market and is expected to retain its position over the forecast period. The large and growing middle class with disposable income to spend on filling nutritional gaps is one of the key factors driving the market for nutraceutical products, eventually fueling demand for nutraceutical packaging. COVID-19 has further increased the penetration of nutraceutical products in households as consumers are looking for products that can increase immunity. This, in turn, increases the market size for nutraceutical packaging.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

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Research Methodology

Research Methodology for Global Nutraceutical Packaging Market Analysis (2020-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of nutraceutical packaging, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of nutraceutical packaging through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the nutraceutical packaging market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by packaging type, packaging material, product type, and product form. Further regional and country-level analyses were conducted to evaluate the overall adoption of Nutraceutical Packaging globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of nutraceutical packaging. Further, we conducted factor analysis using dependent and independent variables such as the rising market for the sports & drinks industry and easy access to nutraceutical products owing to the growing e-commerce channel. A thorough analysis was conducted of demand and supply-side scenarios considering the increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the nutraceutical packaging industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of nutraceutical packaging across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the nutraceutical packaging market. Also, the growth strategies adopted by these players to compete in the fast-growing market

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Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Nutraceutical Packaging market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of packaging type, packaging material, product type, and product form of nutraceutical packaging.

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The main objective of the nutraceutical packaging market study

The current & future market trends of global nutraceutical packaging were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of nutraceutical packaging in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include the area of the packaging type, packaging material, product type, and product form of nutraceutical packaging
• Defined analysis of the regulatory framework for the nutraceutical packaging industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of nutraceutical packaging for the major countries
• Major regions/countries analyzed in the report include North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
• Company profiles of the nutraceutical packaging market players and the growth strategies adopted by them to sustain the growing market
• Deep dive country-level analysis of the industry

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