The global nutraceutical rigid packaging market is poised for substantial growth, with an expected market value of $4.6 billion in 2023, projected to surge to $8.5 billion by 2033, boasting a commendable compound annual growth rate (CAGR) of 6.3%. This positive momentum follows a noteworthy historical growth rate of 5.1% CAGR during the period from 2018 to 2022.
Rigid packaging is a pivotal driver behind the growth of the nutraceutical rigid packaging market, serving to safeguard light-sensitive nutraceutical products. The incorporation of UV additives into the rigid packaging material and the use of oxygen scavengers to remove oxygen from the packaging contribute to prolonging the shelf life of these products, a feature that is likely to stimulate increased sales in the upcoming years.
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The market is further energized by the burgeoning global awareness surrounding the importance of maintaining good health, fitness, diet, and weight management. This heightened awareness has led to an increased adoption of nutraceutical products across the globe, effectively fueling growth in the nutraceutical rigid packaging sector.
A significant contributor to this growth is the digital age, with online health magazines and social media platforms playing a pivotal role in creating a widespread global trend. People are actively improving their diets, seeking out natural food products that offer direct medicinal benefits, and this trend has been particularly embraced by the millennial generation. Their enthusiasm for health and wellness is a substantial driver behind the burgeoning nutraceutical rigid packaging market, reinforcing its position as a significant player in the packaging industry.
The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Nutraceutical Rigid Packaging
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the industry.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Nutraceutical Rigid Packaging industry. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Takeaways and Projections
- The U.S. is expected to lead the North America Nutraceutical Rigid Packaging market, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Historical Market Analysis: The detailed survey by FMI, examines key factors in the Nutraceutical Rigid Packaging market that affected the growth in the industry for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Nutraceutical Rigid Packaging industry for the forecast period 2023-2033.
- Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Nutraceutical Rigid Packaging for the assessment period. As per the study, the demand for will grow at a robust CAGR between 2023 and 2033.
- Market Trend Analysis: The latest study by FMI on the Nutraceutical Rigid Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist industry players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The industry survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of industry. The survey provides a thorough industry share analysis to offer an in-depth analysis of prevailing competition.
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Key Segments of Nutraceutical Rigid Packaging Market Covered in the Report
Based on the Material Type:
- Glass
- Plastic
- Polypropylene (PP)
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- Other Plastics
Based on the Packaging Type:
- Bottles
- Boxes & Cartons
- Cans
Based on Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- MEA
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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