Although the nutraceutical market is only a few decades old, it’s expected to grow 7 percent annually, from $345 in 2011 billion to $450 billion in 2015. That puts it among the greatest opportunities for CPGs and their suppliers, according to PMMI’s upcoming Nutraceuticals Market Assessment.
“Nutraceuticals are a relatively new product category, but their growth has been amazing in the last few years,” said Jorge Izquierdo, vice president of market development, PMMI. “Encompassing a range of food-based products with medical or health benefits, the segment touches major markets including food, pharmaceuticals and beverages .”
Report highlights include:
- Nutraceutical Sales in China ($15 billion) and India ($2 billion) indicate key areas of growth.
- Beverages are vital to the industry’s expansion, with 9 percent annual growth expected through 2015.
- Trends in packaging highlight convenience and portion size, with innovations in material-saving pouches, bottles that utilize seal closures, and material-conscious shrink sleeves.
- Nutraceutical manufacturers want packaging equipment that is fast, flexible, and easy to use and clean. Currently, the wide array of nutraceutical products and product sizes necessitates such flexibility and changeover that nearly two-thirds of all manufacturing is outsourced.
- FDA regulation of the nutraceutical industry is expected to intensify with the introduction of New Dietary Ingredient (NDI) compliance, and is likely to cause considerable industry consolidation.
The report will be available to members for free download and to non-members for purchase next month. Members and non-members are also welcome to join PMMI May 2 at noon (EDT) for a webinar covering highlights from the market assessment.
To learn more about PMMI’s market research, contact Paula Feldman, director of business intelligence, PMMI: 703.243.8555; firstname.lastname@example.org.