By 2025, the global market for nutraceutical products is projected to reach $578.23 billion according to a December 2017 report by Grand View Research, Inc. There’s no doubt about it – capturing a share of this burgeoning market can be profitable, but will be increasingly difficult, as more competition enters the field.
As the demand for nutraceutical products grows, inevitably, consumer demands will evolve. And, as you probably already know, consumers view packaging – whether consciously or not – as a key factor in making buying decisions. Packaging and labeling can make or break products in this category – maybe even more than in other categories.
Changing demands must be met by changing packaging.
With a growing awareness of health issues and an aging baby boomer population, producers and packagers of nutraceuticals that want to thrive must stay in touch with the changing demands of consumers. In addition, they’d better be committed to – and willing to invest in – making changes to their product packaging to align with consumers’ desires.
E-Commerce presents a different set of concerns for nutraceuticals.
Online vitamin and supplement sales are increasing 12% faster than the e-commerce average. As more nutraceutical manufacturers look to grow online sales, they must also tackle the challenges posed by the e-commerce model. For example, shipping may mean that your products will be bundled with other non-similar products. And the conditions (moisture, temperatures, etc.) will most likely be unknown. Weight and size are also of greater concern.
Failure to provide the necessary packaging features that stand up to the conditions of e-commerce distribution will result in a poor consumer experience that will reduce sales and could even lead to the end of the brand.
Stand out with disruptive package and label designs.
Whether consumers purchase their nutraceuticals online, or in a store, they are overwhelmed with options. In the nutraceutical space, it’s becoming even more necessary to develop packaging and label designs that disrupt the eye of consumers and grab attention.
But, while important, the focus on differentiation cannot be allowed to trump the other critical factor in consumer decision-making: trust. Because product credibility and trust in nutraceutical brands so heavily impact the buying decision of consumers, it’s vital for nutraceutical manufacturers to invest in the right packaging to convey that credibility, while standing out from the crowd.
Should flexible packaging be in the mix?
For manufacturers of some nutraceuticals, thinking outside of the traditional bottle should be part of their plan. Consumers love flexible packaging – as long as it delivers a quality product in the expected condition. Flexible packaging, such as pouches, films, bags, envelopes, sachets, wraps, stick packs and foils–stand-up and lay-flat–are all types of flexible packaging widely used by manufacturers today. These types of packaging can offer maximum impact without taking up a large footprint on store shelves and easily stack or nest for display or transportation.
Environmental concerns of nutraceutical consumers.
A growing number of consumers are committed to environmental responsibility. To consider environmentally friendly packaging options is especially wise for nutraceutical manufacturers, as sustainability is especially important to nutraceutical customers. Because many of these consumers are looking for a natural alternative to traditional prescription drugs, they are more likely to show concern for the environment. Products packaged with too much wasted material can be a turn-off to these consumers. In addition to being convenient, flexible packaging can offer an efficient option that appeals to this segment.
It’s an added benefit that flexible packaging can reduce production, inventory and transportation costs to manufacturers.
Labels and packaging that sells, informs and teaches.
If a company opts to utilize a material or container that is unfamiliar to consumers, providing proper disposal instructions on the label and proactively marketing the sustainable innovation will help to ease the learning curve.
Expert advice to ensure the best packaging solutions.
Century Label recognizes the fact that custom printed labels are a vital component of nutraceutical marketing. Nutraceutical products combine dietary and medicinal properties and include many health and beauty benefits.
We’ll help you highlight your ingredients and features with attractive and easy-to-read custom nutraceutical labels. We’ve been creating professional and informative nutraceutical packaging that will earn the initial trust of potential customers and encourage them to try your product.
Our expertise includes the printing of nutraceutical labels, shrink sleeves and flexible packaging in multiple shapes and sizes, including tamper-resistant versions.
An effective nutraceutical marketing plan includes a very intentional packaging and label design. It almost goes without saying that nutraceuticals require the right form, function and design. Because so many factors enter in, it’ll pay to include a reputable label and packaging expert with a solid nutraceutical track record.
For a no-obligation, confidential initial consultation with one of our nutraceutical packaging experts, click here.