PMMI Study examines nutraceutical market.
Press Release Summary:
According to PMMI's Nutraceuticals Market Assessment, nutraceutical market is expected to grow 7% annually, from $345 billion in 2011 to $450 billion in 2015. Nutraceutical sales in China ($15 billion) and India ($2 billion) mark key areas of growth, as do nutraceutical beverages, which PMMI expects to grow 9% annually through 2015. Industry trends highlight convenience and portion size, with innovations in material-saving pouches, bottles with seal closures, and material-conscious shrink sleeves.
Original Press Release:
Nutraceuticals Market to Reach $450 Billion by 2015
PMMI study examines nutraceutical market, free webinar May 9
Reston, VA.; - Although the nutraceutical market is only a few decades old, it's expected to grow 7 percent annually, from $345 billion in 2011 to $450 billion in 2015. That puts it among the greatest opportunities for consumer packaged goods companies (CPGs) and their suppliers, according to PMMI's Nutraceuticals Market Assessment, released this month.
"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 several major markets including food, pharmaceuticals and beverages ."
Nutraceutical sales in China ($15 billion) and India ($2 billion) mark key areas of growth, as do nutraceutical beverages, which PMMI expects to see grow 9 percent annually through 2015. However, with increased FDA regulation of the nutraceutical industry and the introduction of new dietary ingredient (NDI) compliance rules, industry consolidation is likely, according to the report.
Industry trends highlight convenience and portion size, with innovations in material-saving pouches, bottles that utilize seal closures, and material-conscious shrink sleeves. Speed, flexibility and ease to use are key factors for nutraceutical manufacturers.
PMMI's Nutraceuticals Market Assessment is available for purchase from PMMI (free to members, $3,500 to non-members). PMMI will host a free webinar overview of the report at Noon EDT on May 9.
To learn more about PMMI's market research, contact Paula Feldman, director of business intelligence, PMMI: 703.243.8555; pfeldman@pmmi.org.
About PMMI
PMMI is a trade association of about 600 member companies that manufacture packaging, processing and related converting machinery in the United States or Canada; machinery components and packaging containers and materials. PMMI's vision is to be the leading global resource for the packaging and processing supply chain, and its mission is to improve and promote members' abilities to meet the needs of their customers.
PMMI organizes the PACK EXPO trade shows: PACK EXPO International, PACK EXPO Las Vegas and EXPO PACK México, connecting participants in the packaging and processing supply chain with their customers around the world. Coming Up: EXPO PACK México, June 26-29 in Mexico City, Mexico; PACK EXPO International at McCormick Place in Chicago, Oct. 28-31, 2012.
Learn more about PMMI and the PACK EXPO trade shows at PMMI.org and Packexpo.com.
