• The nutraceutical market has a projected global market size of over US$722 billion by 2027. (Image supplied by Nupac Industries.)
    The nutraceutical market has a projected global market size of over US$722 billion by 2027. (Image supplied by Nupac Industries.)
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The substantial growth in the nutraceutical and functional food markets has seen companies enhancing their processing and packaging lines to keep up with the demand.

‘Nutraceuticals’ is a fairly new term in the food and health space. Lacking a definite definition these products provide nutritional and health benefits, however they are not pharmaceuticals. They include a range of product types, from minerals and vitamins to jellies and powders, which provide functional health benefits to consumers.

With a projected global market size of over US$722 billion by 2027, at CAGR of 8.3%, the nutraceutical market is seeing increasing demand, and will continue do so well into the future*.

“Driven by a rise consumer awareness, as well as knowledge around wellbeing and preventative health, the demand for nutraceuticals has driven manufacturers to boost production through increased efficiencies and speed,” says Peter Pontikis, managing director of processing and packaging equipment supplier Nupac Industries.

Pontikis says with faster processing, filling, and packaging lines, companies can create long term efficiencies to remain a step ahead of their competition, while also improving the quality of their products.

“As well as an increase in production efficiencies, manufacturers are also looking at solutions with greater flexibility, to ensure they can adapt and adjust with the market,” Pontikis adds.

“The nutraceutical market has the ability to adapt and evolve at a rapid pace, making this need for flexibility important to companies looking at processing and packaging solutions. High flexibility also allows for reduced costs and footprint, making for more efficient operations.”

“As well as efficiency, product quality remains key in processing and packaging. Quality is important to consumers and should not be neglected by manufacturers,” Pontikis continues, noting that with experience in both the confectionery and pharmaceutical industries for over 38 years, Nupac is well positioned to provide a range of solutions for the Nutraceutical industry.

“As leaders in solutions for jellies, tablets, capsules, powders and bars, we work closely with companies looking to upgrade or improve their production and packaging processes,” Pontikis concludes.

Future-proofing and investing in efficiencies plays a major role in manufacturing success, and this is no different in the nutraceuticals space. If companies are ready to invest now, they will reap the rewards further down the track as the industry continues to grow.

*Nutraceutical Market Size, Share & Trends Analysis Report by Product (Dietary Supplements, Functional Foods, Functional Beverages), by Region, and Segment Forecasts, 2020 – 2027, Grand View Research

 

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