Pharmaceutical Packaging Materials and Sustainability Strategies...

Pharmaceutical Packaging Materials and Sustainability Strategies (2023-2033)

Posted 2023-10-10 10:12:01

The global pharmaceutical packaging market size is forecast to reach US$ 101.1 billion in 2023. Total pharmaceutical packaging sales are set to increase at a healthy CAGR of 7.5% between 2023 and 2033, totalling a massive market valuation of US$ 206.6 billion by 2033. As it is necessary to protect, preserve, and store different pharmaceutical products including pharmaceuticals, treatments, and others, pharmaceutical packaging is a crucial area of the packaging industry. Plastic, glass, metal, and paper are all used in the manufacture of pharmaceutical packaging. In addition to serving as a means of product protection and information delivery, pharmaceutical packaging also serves as a marketing tool.

The latest research on the “Pharmaceutical Packaging Market Report” offered by FMI provides a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business.

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Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies and Forecast. This report provides an in-depth study of the market competitive situation, product scope, market overview, opportunities, driving force, and market risks.

Top Key Players Covered-

· Westrock Company.,

· Becton,

· Dickinson and Company,

· Amcor plc,

· Berry Global Group, Inc.,

· Mondi group, and

· Ardagh Group S.A.

are some of the leading players operating in the pharmaceutical packaging market.

As per FMI analysis, the Tier 3 players in the market are estimated to hold 70-80% in the global pharmaceutical packaging market. In conclusion, key players contribute almost 20-30% of the global market. Market leaders are largely focused on product development and merger & acquisition strategies.

Sales of the pharmaceutical packaging solutions have risen exponentially in the past few years. This can be attributed to the increasing demand for child-resistant packaging formats to avoid accidental consumption. Cost-effectiveness, ease of use, and durability are key factors fuelling the demand for various packaging solutions. The pharmaceutical packaging market is anticipated to witness soaring demand as manufacturers introduce innovative easy-to-use-and-dispose features.

Key Takeaways from Pharmaceutical Packaging Market Study

By product type, bottles are estimated to lead the market with over 30% of the value share, by the end of 2031 supported by leak-proof packaging solutions
Plastic is projected to be the most lucrative material in the industry creating an incremental opportunity of US$ 58.41 Bn by 2031
The U.S. holds dominance in the North America market with the presence of some of the leading pharmaceutical manufacturers
China will showcase a solid growth driven by the expansion of local pharmaceutical sector
Germany is projected to be dominant in Europe and is expected to continue leading as a pharma packaging manufacturing hub.

“Regulations implemented to ascertain safety of drugs & medications will create lucrative opportunities. Pharmaceutical packaging is sought-after due to its temperature & moisture resistance, durability, and ease of use. With the expansion of the pharmaceutical sector, manufacturers are likely to focus on the launch of novel technologies,” says an FMI analyst.

Key Segments Covered in Pharmaceutical Packaging Research

Product Type