Advances in the Nutraceuticals Market Driven by Growing Middle Class
Advances in the global nutraceuticals market are being driven by an established, growing middle class with disposable income to spend on filling nutritional gaps, according to A New Day Dawns for Nutraceuticals infographic released by PMMI, The Association for Packaging and Processing Technologies.
The infographic, and accompanying Nutraceuticals Market Assessment 2019 report, shows how shifting consumer consumption habits are pushing the industry to reexamine packaging formats and consider innovations in the food, beverage and pharmaceutical sector. As the U.S. nutraceuticals market in 2018 reached $75.9 billion, consumers have begun demanding alternatives to consuming nutraceuticals in pill form, which is driving up the market share for functional foods and drinks. (Download the infographic below.)
These trends are emerging just as Healthcare Packaging EXPO co-located with PACK EXPO Las Vegas (Sept. 23-25, 2019, Las Vegas Convention Center) is getting ready to launch. This pharma event will have hundreds of pharmaceutical industry suppliers showcasing crossover solutions from related industries such as food and beverage. This is critical for the nutraceutical market as many of the evolving trends, such as e-commerce, the growth in cannabidiol (CBD), the demand for personalization and the growth of sports and energy drinks, are steering manufacturers toward new packaging styles.
Registration, which includes access to both Healthcare Packaging EXPO and PACK EXPO Las Vegas, is $30 through Aug. 30 after which the price increases to $100. For more information and to register online, visit packexpolasvegas.com and hcpelasvegas.com.