Global Nutraceutical Packaging Market: Overview
Functional foods, nutritional supplements, phytochemicals, and designer foods fall under the category of nutraceuticals. Nutraceutical products are of medicinal and nutritional value.
With increasing level of awareness and understanding of nutrition and health, people are becoming increasingly interested in nutraceutical products. As such, nutraceutical packaging is vital in the prevention of external contamination of nutraceuticals products. Nutraceutical packaging offers a protection against oxidizing agents. Worldwide, films, bottles, bags, and pouches are used for the packaging of nutraceuticals.
An upcoming report on the global nutraceutical packaging market by Transparency Market Research promises to offer every minute detail relevant for scaling business in the coming years. It covers the existing market challenges, trends, opportunities, geographical analysis, competitive landscape, and key developments.
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Global Nutraceutical Packaging Market: Notable Developments
Here are some important developments that may shape the growth strategies for companies in the years to come.
- Global packaging company, Amcor Plc, made a successful completion of its acquisition of Bemis Company Inc., with effect from 11 June 2019. The combined company will henceforth operate as Amcor Plc (Amcor). The acquisition of Bemis is expected to bring additional footprint, capabilities, and scale, which will fortify Amcor’s industry leading position in the market.
A few of the prominent market players are Sonoco Products Company, Constantia Flexibles, Mondi Group, Huhtamaki OYJ, and Amcor Limited are some of the prominent market players
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Global Nutraceutical Packaging Market: Key Trends
The following factors are, in all likelihood, to shape the course of global nutraceutical packaging market:
Shift towards Healthier Lifestyle Shoots up Demand for Nutraceutical Packaging
Increased awareness about weight management and health is likely to play an important role in the demand for global nutraceutical packaging market. Likewise, emerging opportunities in innovative packaging solutions are projected to garner a larger base of consumers for nutraceutical packaged products.
The global nutraceutical packaging market is likely to experience accelerated rate of growth owing to the increased adoption of nutraceutical products by the consumers. The market is expected to derive momentum from the health benefits of nutraceutical products. Besides, growing inclination of people to spend on fitness and wellness programs are likely to boost global nutraceutical packaging market.
Rise in the per capita income of people across the globe is another growth promoting factor for the global nutraceutical packaging market. In addition to that, people adopting healthier lifestyle is likely to contribute to the growth of the market.
However, the global nutraceutical packaging market is expected to face some challenges from the high cost of nutraceutical packaging product in the forecast timeframe.
Global Nutraceutical Packaging Market: Geographical Analysis
Of all the geographical segments pertaining to the global nutraceutical packaging, North America accounts for the lion’s share of the global nutraceutical packaging market in the world. Such dominance of the global market is due to the increased demand for the enhanced shelf life of food products in the North America nations, Countries such as the US, Canada are expected to lead the regional nutraceutical packaging market.
North America is trailed by Europe, which is anticipated to be one of the leading regions in the global nutraceutical packaging market. Europe already has a matured pharmaceutical industry, which is likely to offer growth opportunities for the market in the region.
The Asia Pacific is likely to be the fastest growing region in the global nutraceutical packaging market, thanks to huge base of population who are shifting towards a healthier lifestyle.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.