Global Nutraceuticals Market to Grow Driven by CBD Oil

The nutraceutical market is a burgeoning industry, offering consumers improved health based on natural ingredients.

Nutraceuticals are designed to supplement the effects of vitamins and minerals found in food, providing targeted benefits, and boosting overall well-being.

The use of phytochemicals and other bioactive compounds can provide disease prevention and symptom relief, as opposed to traditional medicines which only suppress a symptom without getting to the root of the problem.

With advances in technology, companies can accurately measure what's delivered into the body, allowing for full transparency about production and handling processes for added safety. We are living in an age where striving for improved health is more important than ever before, and the nutraceutical market has certainly risen to meet this demand.

Nutraceuticals can be found in many different forms, such as dietary supplements, functional foods, fortified foods, herbal remedies, and medicinal teas. Foods that can be classified as nutraceuticals include probiotics, omega-3 fatty acids, vitamins, minerals, dietary fibre, phytochemicals, and other compounds.

Consumers now expect to find combinations of functional ingredients that range from natural sources to synthetic compounds that work together synergistically for greater results.

Nutraceutical packaging also plays an important part in the success of products. This pharmaceutical products packaging is normally classed as flexible packaging, which includes various forms including blister packaging.

The Growth of the Nutraceutical Market

The nutraceuticals market is set to experience impressive growth in the coming years, driven by increased demand for premium food supplements throughout Asia and a desire for CBD oil in America.

The nutraceuticals market is bursting with potential, according to PMMI Business Intelligence – this multibillion-dollar industry has the momentum for dynamic growth of 7.5% CAGR over six years. By 2025 it's projected that nutraceutical revenues would have doubled since 2019 and be worth an astonishing $373 billion with $79 billion of that coming from the United States.

Consumers around the globe have shown a profound shift in their well-being approaches, transitioning away from pills to dynamic food and drink products as they seek new ways of satisfying health needs. A marked 'pill fatigue' has emerged over recent years that emphasises proactive lifestyle choices for weight management, exercise regimes, and digestive support.

Pharmaceutical drug packaging is changing and continues to do so as the trend in demand for these sorts of products increases. A lot of brands in the sector are moving away from rigid containers and moving to more efficient packaging products such as foil pouches and stick packs. However, glass is still the preferred packaging option for some products including CBD oil, which has shown itself to be a huge contributor to the growth of the market.

There are some differences in the purchase behaviour of consumers around the world for these products. Consumers in Europe tend to purchase more functional food types such as probiotic yogurts and juices as opposed to any pills or capsules and are warier when it comes to the efficiency of a product as it states.
U.S. consumers are less reliant on the science behind claims made on product packaging and their buying habits have hardly changed in seven years, except for CBD oils.

In the Far East, particularly the Chinese and Japanese markets they have very specific preferences regards the packaging of nutraceutical products. If an item is imported from the U.S., it is seen more as a luxury item and is in more demand, mainly down to the fact that other international markets are prevented from trade due to high tariffs and government legislation. Also, in these areas’ supplements tend to be given as gifts and the packaging tends also to be more in a pouch form as consumers there prefer a more portable product solution instead of heavy bottles.

The Asian market is seen as the main opportunity for growth in this sector of the worldwide economy.

Legislation in the Nutraceutical Markets

The nutraceutical worldwide markets are governed by a variety of legislations, all designed to protect consumers and ensure the quality of products. These include regulations on labelling, maximum permitted levels of vitamins and minerals, testing protocols and processes, permitted health claims, processing standards, and restrictions on marketing.

In many countries, these legislations are supervised by national controlling bodies such as the U.S. Food and Drug Administration or the European Food Safety Authority which set forth criteria that manufacturers must meet to produce safe products with accurate claims. In addition, organizations such as NSF International provide independent certification programs to lesser-regulated global markets to protect consumers from false information or hazardous composition of poorly regulated products.

Brands and manufacturers in both the U.S. and European markets are encountering a unique obstacle: the FSD 2002/46/etc. Not only does this directive define food supplements, but it also specifies which vitamins and minerals can be used within them - requiring an even higher level of compliance from participating companies. The list of allowed vitamins includes 13 from a total of 45 available and 17 minerals from a possible 136.

The existence of these worldwide standards has made it possible for consumers to rely on information from trusted sources when selecting nutraceuticals for their own health needs.

Consumers will continue to contribute to the growth of the nutraceutical sector but will pay more attention than ever to what sort of pharmaceutical packaging exists with their products. Plastic bottles, blister packs, glass bottles, and other primary packaging items need to be as sustainable as possible to fulfil the demands the expectations of today's consumers.