As the Covid-19 pandemic raged, the general public’s focus has shifted to personal health, positioning the nutraceuticals industry for further growth and success in 2022. Below is an overview of the nutraceuticals industry as a whole. Look at what the future holds for print on demand nutraceuticals manufacturers, wholesalers, and distributors in 2022 and beyond.
What is Print on Demand Nutraceuticals?
The term nutraceutical refers to natural-source products that have health benefits in addition to the essential nutritional value found in food. In addition, nutraceuticals are used to promote overall health and to prevent illness. However, definitions and legislation regarding nutraceuticals vary from every country because there is no universally accepted definition of it.
On-Demand printing Nutraceuticals are products sourced from print on demand providers. They manufacture, label, pack, and ship print on demand products for you. Furthermore, you can personalize the label and packaging with your brand, and you won’t need to have an inventory or equipment.
The Nutraceutical Industry’s Current State
Nutraceuticals are becoming more popular around the world as they become a part of people’s daily diets. In addition, the global nutraceuticals market was worth USD 417.66 billion in 2020 and is expected to grow at an 8.9 percent compound annual growth rate (CAGR) from 2020 to 2028. As a result, the growing demand for dietary supplements and functional foods is expected to become a significant driving factor in the global market.
5 Trends Shaping the Print on Demand Nutraceutical Industry in 2022
1. Increasing consumer demand for convenience
Customers want convenience. Moreover, baby boomers don’t want to keep popping pills, and Millennials want products that they can use on the go. Furthermore, protein bars, dry nuts, grains, and bars are examples of nutraceutical snacks ideal for on-the-go snacking. Print on demand nutraceuticals can also come in gummies and effervescent tablets for those who dislike taking pills.
2. Increased prevalence of chronic and non-communicable diseases
According to Tim Lobstein, policy director at the World Obesity Federation, obesity is now a bigger problem than hunger. In addition, globalization and urbanization have increased in developing countries, increasing non-communicable diseases such as cancer, diabetes, heart disease, and lung disorders. However, obesity, allergies, and Alzheimer’s disease are also becoming more common. Poor nutrition, a significant risk factor for chronic conditions and non-communicable diseases, drives global demand for nutraceuticals.
3. Doubts about conventional medicine
Pharmaceutical drugs and their side effects are causing increasing concern. As a result, the consumption of nutraceuticals is expected to rise in the coming years because it is viewed as a more natural alternative.
4. Healthcare costs are rising.
According to a 2019 World Health Organization (WHO) report, global health spending is growing faster than the rest of the global economy, accounting for 10% of global GDP. In addition, consumers are seeking to improve their health without incurring the costs of medical treatments are turning to the nutraceutical industry for assistance. Furthermore, fortified food and beverages are popular among health-conscious consumers looking for alternatives to over-the-counter medications and prescription drugs.
5. Baby Boomers want to enjoy their retirement years.
Baby Boomers make up the vast majority of nutraceutical consumers. This demographic group has enough disposable income to afford nutraceuticals and is motivated to live a healthy lifestyle throughout retirement. As Millennials advance in their careers, they are increasingly able to spend money on maintaining a healthy lifestyle. They can also make more environmentally friendly choices. As a result, these two factors both contribute to the increased demand for nutraceuticals.
The nutraceutical industry has shown room for expansion, particularly in light of an aging population and rising healthcare costs. If the print on demand nutraceutical industry’s manufacturers and wholesalers thrive, they must understand its growth drivers.
If you want to benefit from the increased demand for nutraceuticals, start selling them now and expect your sales to increase. Fulfillplex is here to help if you don’t have enough knowledge or resources. We are a top eCommerce fulfillment company that offers the best print on demand services – we will manufacture, label, pack, and ship your nutraceuticals. Explore our high-quality print on demand products catalog and decide what to sell. Feel free to contact us now to learn more about our services.