The Fact.MR report on nutraceutical supplements market is a comprehensive and detailed forecast on the nutraceutical supplements market for the forecast period of 2018 to 2027. The report on nutraceutical supplements market offers in-depth insights apropos of nutraceutical supplements market over the forecast timespan, which aids new entrants in the nutraceutical supplements with understanding the crucial growth parameters of nutraceutical supplements market.
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Consumer Demand for Specialty Ingredients to Grow
With the evolving definition of health and wellness, an increasing preference of specialty ingredients is gaining center stage in the nutraceutical ingredients market space. The customer inclination toward specialty ingredients tends to get strong eventually, owing to multiple benefits such as upgraded health, improved taste and texture, and enhanced shelf life.
Moreover, the practice of “adding value” to products has become one of the highly pervasive manufacturing trends. Consumers are no longer content with simple nutrition or hydration, rather they wish to experience a lot more in terms of health and wellness, taste, and quality. In line with this demand for improved varieties, manufacturers of nutraceutical supplements are focusing on inclusion of specialty ingredients in their products.
Focus on Packaging Techniques to Tackle Counterfeiting – A Key Trend
As per a revelation by the Association for Packaging and Processing Technologies, the practice of counterfeiting has been increasing at an alarming rate. When it comes to products like nutraceutical supplements, which are consumed by a large demographic, integrity of the product becomes exceedingly vital and uncompromisable.
The practice of counterfeiting can dent consumer confidence with respect to a product, posing major challenges for the manufacturing companies. Hence, the manufacturers are resorting to advanced packaging techniques including anti-diversion codes, hologram-enabled authentication, and invisible inks to help the customers identify the authentic products. Persistent focus on advanced packaging formats and techniques is also poised to aid manufacturing companies in terms of healthy market sustenance amidst cut-throat competition.
‘Personalized Nutrition’ – An Emerging Opportunity
The trend of personalized nutrition signifies an unprecedented rise in propensity for health and wellness attributes. Consumers are increasingly oriented toward tracking crucial aspects of their personal well-being by closely evaluating their dietary patterns.
As consumers across the globe are highly invested in achieving their nutrition goals, a personalized approach to nutrition is gaining immense traction. This trend, in turn, is foreseen to invigorate the demand for new nutraceutical supplements aimed at promoting wellness. Manufacturers of nutraceutical supplements are proactively investing in research and development activities, and stakeholder relationships, which will enable them to facilitate business expansion with product diversification and strengthen ties with scientific communities.
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Nutraceutical Supplements Market-Research Methodology
A constructive research methodology has been adopted to garner unique insights and intelligence on nutraceutical supplements market and growth of nutraceutical supplements market for the forecast period of 2018-2027. The growth prospects and dynamics of nutraceutical supplements featured in the nutraceutical supplements market report have been procured from primary and secondary research methods conducted with utmost diligence for nutraceutical supplements market.
Tier 1 Players Hold 40-45% Revenue Share; Market Heading Towards Consolidation
Market leaders or tier 1 players of the nutraceutical supplements market account for around 40-45% of revenue share, with primary focus on expansion of manufacturing facilities and strategic alliances with key distributors. While the mid-level or tier 2 players emphasize on intensifying their regional presence, the emerging or tier 3 players remain highly oriented toward specific product segments and volume sales enhancement.
The nutraceutical supplements market is heading toward a phase of consolidation, with tier 1 players extensively emphasizing on product innovations and developments. Moreover, the tier 1 players’ constant pursuit for growth makes them to consistently focus on expansion of regional presence and solidification of product portfolios.
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