The Global Sustainable Pharmaceutical Packaging Market Size is valued at 70.24 billion in 2022 and is predicted to reach 242.42 billion by the year 2031 at a 14.9% CAGR during the forecast period for 2023-2031.
Sustainable Pharmaceutical packing (also known as medication packing) refers to the containers and techniques used in packaging pharmaceutical preparations. Medication distribution networks encompass all operations, from medication production to the final user. The worldwide Sustainable Pharmaceutical Packaging market is expected to expand substantially during the projected period. The pharmaceutical industry's huge growth is one of the primary drivers of growth for the Sustainable Pharmaceutical Packaging market. Scientific and technological advances have resulted in tremendous growth in the pharmaceutical business in recent years.
However, the Covid-19 pandemic benefited the industry. Investments in medication development, as well as increased pharmaceutical production and consumption, resulted in an increase in demand for packaging. Another issue brought on by the disease outbreak was concern over the virus's ability to thrive on packing surfaces, which boosted the creation of high-performance and ecologically friendly packaging.
Recent Developments:
- In April 2022, WestRock Company and Recipe Unlimited announced a collaboration to develop a line of recyclable paperboard products that will keep 31 million plastic containers out of Canadian landfills each year. The bundle originally emerged in Swiss Chalet restaurants in October 2021, and it is now available everywhere.
Competitive Landscape:
Some of the major Sustainable Pharmaceutical Packaging Market players are:
- Berry Global Inc.
- Gerresheimer AG
- Amcor Plc.
- Schott AG
- Aptargroup, Inc.
- Becton
- Dickinson and Company
- Westrock Company
- Nipro Corporation
- Catalent, Inc.
- Sealed Air Corporation
- West Pharmaceutical Services, Inc.
Market Segmentation:
The sustainable pharmaceutical packaging market is segmented on the basis of material, packaging type, product type, and process. Material segment includes paper & amp; paperboard, glass, metal, and others. The packaging type segment includes primary packaging and secondary packaging. The product type segment includes plastic bottles, blister, labels & accessories, caps & closures, pre-filled syringes, medical specialty bags, temp-controlled packaging, pouches & strip packs, pre-filled inhalers, vials, ampoules, medication tubes, jars & canisters, cartridges, and others. The process segment includes recyclable, reusable, and biodegradable.
Based On Packaging Type, The Primary Packaging Segment Is Accounted As A Significant Contributor In The Sustainable Pharmaceutical Packaging Market
The primary packaging category is expected to hold a major share of the global sustainable pharmaceutical packaging market in 2022. Primary packaging, such as bottles, tubes, or blister packs, has direct contact with the drug and encloses it to keep it safe from contamination. Furthermore, it is typically responsible for dosing and distributing prescription ingredients. Packaging manufacturers are emphasizing the inclusion of dispensing systems that provide the correct amount at the right time and easy-to-open closures that can assist the senior population with medicine administration.
The Glass Segment Witnessed Growth At A Rapid Rate
The glass segment is projected to grow at a rapid rate in the global Sustainable Pharmaceutical Packaging Market. Due to it being impervious to gases, moisture, odors, and germs, glass is commonly employed in the packaging of liquid and semisolid pharmaceutical compositions. Glass is used to make syringes, syrup jars, cartridges, injection vials, and other products. Amber-colored. Glass is commonly used for pharmaceutical packaging because it absorbs harmful UV rays and prevents pharmaceuticals from becoming contaminated.
The North America Sustainable Pharmaceutical Packaging Market Holds A Significant Revenue Share In The Region
The North America Sustainable Pharmaceutical Packaging Market is expected to register the highest market share in terms of revenue in the near future. The presence of a considerable number of pharmaceutical plastic bottle manufacturers in the country, such as AptarGroup Inc., Gerresheimer AG, Amcor Ltd., and Berry Plastics Group, Inc., is expected to boost demand for pharmaceutical plastic bottles over the projection period. The rise in health awareness among consumers in the Asia Pacific, particularly in developing nations such as China and India, along with rising disposable income levels, is expected to promote pharmaceutical sector growth throughout the forecast period, enhancing demand for its packaging.
Sustainable Pharmaceutical Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 70.24 Bn |
|
Revenue forecast in 2031 |
USD 242.42 Bn |
|
Growth rate CAGR |
CAGR of 14.9 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Material, Packaging Type, Product Type, And Process |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Berry Global Inc., Gerresheimer AG, Amcor Plc., Schott AG, Aptargroup, Inc., Becton, Dickinson and Company, Westrock Company, Nipro Corporation, Catalent, Inc., Sealed Air Corporation, West Pharmaceutical Services, Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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