Future Market Insights

Sweet Pill: The nutraceuticals industry is undergoing transformation, meaning more opportunities are at hand.

Bitter Pill: The nutraceutical industry is undergoing transformation, meaning more competition and challenges.

Numerous revolutions cloud the nutraceuticals industry, and they promise over $1 trillion in opportunities by the next decade. As competition turns fierce, our chief food and beverage analyst draws a pattern in the industry—a specific pattern expected to govern the nutraceutical industry for years to come.

“Established players tune their strategies to match the frequency of end users’ needs, and personalization in nutraceuticals subdues all trends we have seen so far.”

There has been a lot of buzz around the use of artificial intelligence in packaging. To say so, AI hasn’t been squeezed into packaging; it is gradually occupying the prominent spot to become the new default in the packaging industry.

The horizontal industries—food and beverage, consumer goods, manufacturing, and healthcare—are following suit and scrambling toward the juncture of AI and packaging. And indeed, the outcome has been just an atomic trigger for the evolutionary capabilities of AI technology in packaging.

With research and development efforts invested in attributing ‘smarter’ elements to packaging, it becomes necessary for industry experts to envision and weigh the impact of AI in packaging.

Speakers-

• Krzysztof Krajewski, Chief Sustainability and Innovation Officer, RDM Group
• Ismail Sutaria, Chief Analyst, Packaging Domain, Future Market Insights
• Sharina Perry, Founder and Inventor Utopia Plastix

As consumers and businesses become more environmentally conscious, sustainable packaging is gaining popularity. However, it isn't always that simple. The use of 100% sustainable material and design increases the unit cost of packaging. This remains a big deterrent for brands investing in sustainable packaging. Also, availability of supplies and knowledge of alternatives play a role in brands making a commitment to 100% sustainable packaging. According to FMI research, more than 35% of brands will consider cost as a primary factor while making a switch to sustainable packaging. And while consumers say they are willing to pay more for sustainability, purpose-driven consumers are still a minority today, with product price being a key buying consideration!

FMI was in discussion with industry stalwarts to delve into strategies and winning case studies on how to effectively reduce immediate costs for sustainable packaging and eventually make it commercially viable, enabling wide-scale adoption.

Speakers-

• Robert Flores, Vice President of Sustainability - Berry Global
• Tristan Kaye, Commercial Director, Notpla
• Ismail Sutaria,Chief Research Analyst - FMI

Currently, plant-based brands are concerned about sourcing issues regarding ingredients for emerging plant-based concepts; this presents a serious challenge since ingredient sourcing is highly customized and inherently more challenging. Zeroing in on the right-fit ingredient and a sustainable sourcing strategy for the same is proving to be the key differentiators in this industry.

And then again, with novel plant-based ingredients, comes the unique challenge of food safety. This requires effective and optimum formulations, stringent food safety measures, and using the right equipment to deliver on product safety and shelf life.
On October 13 at the Future Market Insights webcast, we discuss with some of the leading players in the plant-based ecosystem how they are actively working towards ingredient innovation, sourcing, and also delivering on food safety!

As of 2021, the alternative protein industry had raised US$5 billion in investments. This is three times more than in any single year in the industry’s history.
Currently, 36% of adults adhere to a flexitarian diet, 5% are vegetarians and 3% are vegans. Interest in veganism is only expected to increase, with the overall consumer base expected to grow by 44% over the next 5 years, reinforcing the fact that it is the next big food revolution!

Agenda for the webcast

Investment Opportunities in the vegan F&B industry
What are the driving forces of this industry?

• The rise of health-conscious and ethical society (consumer survey on patterns, diversity, and trends)
• Innovations on ingredients
• Rise of ecommerce and D2C models makes business easier

What are the driving forces of this industry?

• The most popular plant based formats
• Plant based claims that work
• Key challenges faced
• The winning imperatives – how to achieve scale

On February 3rd, Future Market Insights (FMI) hosted a webcast in collaboration with Avery Dennison, one of the leading material sciences companies, on the business value of the intelligent packaging revolution and its adoption across industries.

What were the top takeaways?
While we see rapid mainstream adoption of intelligent packaging across end-use industries, we chose to delve deeper into the 3 most promising industries for IP—F&B, consumer markets, and healthcare—because the business value that IP brings to these industries is the strongest.

On November 18, Future Market Insights hosted a talk show with thought leaders from the packaging industry on ‘The Rise of Intelligent Packaging’.

What were the top takeaways?

• For Intelligent Packaging, this is the NETFLIX moment in the entertainment business as a value creator and a sustainable solution provider
• It is a product branding strategy—a way for brands to communicate to their buyers
• Why is there a need to push intelligent packaging mainstream? Some food for thought: pharmaceutical drugs worth USD 32 billion are wasted annually due to temperature abuse, and billions are wasted due to food waste. This could be the answer to such global challenges
• During the session, we looked at Intelligent Packaging that interacts with the product, interacts with the buyer, and enables the Circular Economy
• Implementation has already begun, be it an NFC-enabled package, temperature-controlled packaging for drugs, sensors communicating with buyers, active packaging inserts or fillers, or virtual reality/augmented reality-enabled, which in itself will be a different experience altogether.

We at Future Market Insights cannot help thinking: could the ‘Internet of Packaging’ be the next reality?